920 Pelhamdale Ave Unit A2H · Pelham Manor, NY 10803

$328,000

2 bd · 2.0 ba · 1,150 sqft · Condo · 23 Days on market

Built 1984 Good condition $285/sqft · 10% below area Est $364k · 10% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.7/30.0
• ARV discount +12.0/15.0
• Schools +7.6/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to move into Pelham Manor in this very reasonably priced and spacious 2 bedroom, 2 bath garden apartment with a deeded carport (#11). Located in Caroline Gardens, the 4 building complex is adjacent to the picturesque Pelham Country Club and golf course. An entrance foyer has a coat closet and leads to the large living room with direct access to a balcony perfect for lounging outdoors and dining in fresh air. A dining area has room for a table, chairs and buffet. Enjoy a renovated eat in kitchen (counter stools) with lots of cabinets, granite countertops and a storage closet. The generous primary bedroom has a renovated en suite bathroom (walk in shower) and a second bedroom is also very roomy. An updated second bath is located in the hallway along with a linen closet. The grounds are beautifully kept and the buildings are in excellent condition. Recent upgrades to the complex include new roofing, windows, landscaping, fencing, driveway and an upgraded boiler. This complex is conveniently located in the center of town within walking distance to shopping, restaurants, parks and transportation. Monthly maintenance does not reflect star rebate. Minimum down payment 20%, minimum credit score 700, total debt ratio 35%.

Key facts

• Large living room
• Granite countertops
• Deeded carport

Tags

• DEEDED CARPORT
• ENTRANCE FOYER
• LARGE LIVING ROOM
• DIRECT ACCESS TO BALCONY
• RENOVATED EAT IN KITCHEN
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $328k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (9.2% below list).
• Recommended offer: $298k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 0.5% in Pelham Manor — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#181 in NY, #2,823 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, commute A+; Watch: amenities F, cost of living F, health & safety D-.
• Pelham Union Free School District (suburban): math 80% / reading 81% proficiency, ranked #29 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: 81 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent is only 17% of the median local income ($215k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $297,810 (9.2% below list)

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $364,070
• List price: $328,000
• Delta: -9.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-47,630
• Equity at exit: $48,906

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-34,243
• Equity at exit: $28,359

Cash invested: $91,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10803

• Active inventory: 81
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,978 high
• Mortgage (P&I): −$1,720
• Tax est. 1.5%: −$410 /mo · $4,920/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $86

Break-even live

Break-even rent $2,869

Max offer price $328,000

Occupancy floor 92%

Sensitivity live

Price	-10% $313	-5% $199	+0% $86	+5% $-27	+10% $-141
Rent	-10% $-149	-5% $-32	+0% $86	+5% $204	+10% $321
Rate	-1.0pp $251	-0.5pp $169	base $86	+0.5pp $1	+1.0pp $-85

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,000
• Closing costs: $9,840
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	8d	1	0.41mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	8d	1	0.84mi
10 9th St Unit 2 New Rochelle, NY	2.0	1.0	1185	$2,850	$2.41	44d	1	0.90mi
9 9th St Unit 1st Floor New Rochelle, NY	3.0	1.0	1463	$3,400	$2.32	44d	1	0.91mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	44d	1	0.91mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	5d	1	0.97mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	44d	1	1.03mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	14d	1	1.03mi
666 Pelham Rd Apt 3A New Rochelle, NY	1.0	1.0	750	$2,350	$3.13	44d	1	1.03mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	18d	1	1.08mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	44d	1	1.18mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	14d	1	1.19mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	44d	1	1.20mi
3 Harbor Ln Unit 3A New Rochelle, NY	1.0	1.0	700	$2,500	$3.57	25d	1	1.21mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,897	$5.21	0d	10	1.24mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$3,575	$4.75	5d	6	1.24mi
379 Huguenot St Unit 2 New Rochelle, NY	3.0	1.0	1150	$3,200	$2.78	25d	1	1.26mi
60 Saint Pauls Pl Mount Vernon, NY	3.0	1.0	1100	$3,000	$2.73	25d	1	1.28mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	777	$3,780	$4.86	0d	15	1.30mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	757	$4,044	$5.34	0d	17	1.30mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$4,785	$5.61	0d	11	1.33mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	44d	1	1.35mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	44d	1	1.35mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$4,625	$4.68	0d	9	1.36mi
25 Leroy Pl #1 New Rochelle, NY	2.0	2.5	1420	$3,995	$2.81	8d	1	1.39mi
641 S 5th Ave Unit 1ST Mt Vernon, NY	3.0	1.5	1300	$3,600	$2.77	5d	1	1.40mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	16d	1	1.40mi
607 S 5th Ave Unit 2ND Mt Vernon, NY	3.0	1.0	1200	$3,400	$2.83	25d	1	1.42mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	4d	1	1.44mi
300 Pelham Rd New Rochelle, NY	2.0	1.0	1200	$3,195	$2.66	0d	1	1.46mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,757	$4.09	0d	50	1.46mi
55 Clinton Pl New Rochelle, NY	3.0	1.0–2.0	991	$5,241	$5.29	0d	24	1.47mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$7,811	$9.25	0d	33	1.47mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	21d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-08
   status Pending 1256-char remark

   Show marketing remark (1256 chars)

   Great opportunity to move into Pelham Manor in this very reasonably priced and spacious 2 bedroom, 2 bath garden apartment with a deeded carport (#11). Located in Caroline Gardens, the 4 building complex is adjacent to the picturesque Pelham Country Club and golf course. An entrance foyer has a coat closet and leads to the large living room with direct access to a balcony perfect for lounging outdoors and dining in fresh air. A dining area has room for a table, chairs and buffet. Enjoy a renovated eat in kitchen (counter stools) with lots of cabinets, granite countertops and a storage closet. The generous primary bedroom has a renovated en suite bathroom (walk in shower) and a second bedroom is also very roomy. An updated second bath is located in the hallway along with a linen closet. The grounds are beautifully kept and the buildings are in excellent condition. Recent upgrades to the complex include new roofing, windows, landscaping, fencing, driveway and an upgraded boiler. This complex is conveniently located in the center of town within walking distance to shopping, restaurants, parks and transportation. Monthly maintenance does not reflect star rebate. Minimum down payment 20%, minimum credit score 700, total debt ratio 35%.

2. 2026-04-15
   listed $328,000 Active 1256-char remark

   Show marketing remark (1256 chars)

   Great opportunity to move into Pelham Manor in this very reasonably priced and spacious 2 bedroom, 2 bath garden apartment with a deeded carport (#11). Located in Caroline Gardens, the 4 building complex is adjacent to the picturesque Pelham Country Club and golf course. An entrance foyer has a coat closet and leads to the large living room with direct access to a balcony perfect for lounging outdoors and dining in fresh air. A dining area has room for a table, chairs and buffet. Enjoy a renovated eat in kitchen (counter stools) with lots of cabinets, granite countertops and a storage closet. The generous primary bedroom has a renovated en suite bathroom (walk in shower) and a second bedroom is also very roomy. An updated second bath is located in the hallway along with a linen closet. The grounds are beautifully kept and the buildings are in excellent condition. Recent upgrades to the complex include new roofing, windows, landscaping, fencing, driveway and an upgraded boiler. This complex is conveniently located in the center of town within walking distance to shopping, restaurants, parks and transportation. Monthly maintenance does not reflect star rebate. Minimum down payment 20%, minimum credit score 700, total debt ratio 35%.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,737
• − Mortgage interest: −$18,373
• − Property taxes: −$4,920
• − Insurance: −$1,640
• − Repairs & maintenance: −$2,859
• − Management: −$2,859
• − Depreciation: −$9,542
• Taxable loss: −$4,456
• Est. tax savings @ 24.0%: +$1,069
• After-tax cash flow: $2,101/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse in Caroline Gardens offers a good condition with minimal repairs needed. It has a good curb appeal and interior condition, making it a solid investment opportunity.

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics
• Both New kitchen appliances — Enhances functionality and aesthetics
• Both New lighting fixtures — Enhances functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics ↑
• Both New kitchen appliances — Enhances functionality and aesthetics ↑
• Both New lighting fixtures — Enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Pelham Union Free School District
• NCES district ID: 3622680
• Math proficiency: 80% ▲ 3.00%
• Reading proficiency: 81% ▲ 6.00%
• Median HH income: $136,478
• Composite: 76.35/100
• National rank: #109
• State rank: #29 of 590 in NY

Livability — Pelham Manor

• Score: 77/100
• State rank: #181
• US rank: #2823

Category grades

Amenities F Commute A+ Cost of living F Crime A+ Employment A+ Housing A- Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelham Manor, NY
• County: Westchester County · 709,332 people
• City population: 13,096
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 13,072
• Household income: $215,208
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 119.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 13% Two or more races 12% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 3% Salvadoran 1%
• Common ancestry: Romanian 3% Scotch-Irish 3% Slovak 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 7% Other Indo-European 6% Russian/Polish/Slavic 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -844.94%
• Current HPI: 357.3886
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

2 events — show timeline

• 2026-05-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Listed $328,000 OneKey® MLS as Distributed by MLS Grid