91 Ferris Ave · White Plains, NY 10603

$800,000

4 bd · 3.0 ba · 2,376 sqft · MultiFamily public records · 213 Days on market

Built 1924 2,614 sqft lot $337/sqft · 51% below area

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investors take notice! This three-family property features two one-bedroom units and one two-bedroom unit, each with its own gas boiler. Tenants pay their own utilities, and there are no current leases in place, offering flexibility for potential rent increases. Rents are currently below market value, providing an excellent opportunity for future growth. Ideally located near Metro-North Railroad, downtown White Plains, shopping, restaurants, parkways, and highways, this property offers convenience for tenants and high rental demand. Don’t miss this rare opportunity to own a prime investment portfolio in a sought-after location!

Key facts

• Gas boiler
• No current leases
• High rental demand

Tags

• THREE-FAMILY PROPERTY
• GAS BOILER
• NO CURRENT LEASES
• NEAR METRO-NORTH RAILROAD
• DOWNTOWN WHITE PLAINS
• HIGH RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $722/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $800k).
• Recommended offer: $704k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.3% in White Plains — 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 71/100 on livability (#410 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: amenities F, cost of living F.
• White Plains City School District (urban): math 49% / reading 54% proficiency, ranked #313 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 111 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $224k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $704,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.60%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $1,622,220
• List price: $800,000
• Delta: -50.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114-116 Ferris Ave	0.06mi	4/2.5	2,032 (-14%)	13mo	$749,000	$369	60
10 5th St	0.63mi	5/2.0 (+1)	2,472 (+4%)	22mo	$870,000	$352	37
80 Mckinley Ave	0.65mi	5/4.0 (+1)	2,600 (+9%)	11mo	$1,257,777	$484	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $8,465
• Equity at exit: $119,283

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $185,604
• Equity at exit: $69,169

Cash invested: $224,000 (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 10603

• Home prices YoY: -24.2%
• Active inventory: 111
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $9,740 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,045
• Net cashflow: $2,166

Break-even live

Break-even rent $6,998

Max offer price $800,000

Occupancy floor 73%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$6,110
1× unit	2	1	$3,630
Total (3 units)			$9,740

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Winding Ridge Rd #107 White Plains, NY	4.0	3.5	3000	$7,500	$2.50	24d	1	0.68mi
3 Terrace Ave White Plains, NY	4.0	2.0	1820	$5,500	$3.02	6d	1	0.70mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$10,808	$8.33	1d	126	1.02mi
507 Main St E West Harrison, NY	3.0	2.0	1800	$5,000	$2.78	7d	1	1.26mi
82 Quinby Ave White Plains, NY	4.0	1.5	2350	$6,000	$2.55	1d	1	1.32mi

Listing history 19 events

1. 2026-06-18
   days on market $800,000 Active 213 DOM
2. 2026-06-17
   days on market $800,000 Active 212 DOM
3. 2026-06-16
   days on market $800,000 Active 211 DOM
4. 2026-06-15
   days on market $800,000 Active 210 DOM
5. 2026-06-13
   days on market $800,000 Active 208 DOM
6. 2026-06-13
   days on market $800,000 Active 207 DOM
7. 2026-06-09
   days on market $800,000 Active 204 DOM
8. 2026-06-08
   days on market $800,000 Active 203 DOM
9. 2026-06-07
   days on market $800,000 Active 202 DOM
10. 2026-06-04
    days on market $800,000 Active 199 DOM
11. 2026-06-03
    days on market $800,000 Active 198 DOM
12. 2026-06-02
    days on market $800,000 Active 197 DOM
13. 2026-06-01
    days on market $800,000 Active 196 DOM
14. 2026-05-31
    days on market $800,000 Active 195 DOM
15. 2025-11-17
    historical
16. 2025-11-16
    listed $800,000 Active 642-char remark

    Show marketing remark (642 chars)

    Investors take notice! This three-family property features two one-bedroom units and one two-bedroom unit, each with its own gas boiler. Tenants pay their own utilities, and there are no current leases in place, offering flexibility for potential rent increases. Rents are currently below market value, providing an excellent opportunity for future growth. Ideally located near Metro-North Railroad, downtown White Plains, shopping, restaurants, parkways, and highways, this property offers convenience for tenants and high rental demand. Don’t miss this rare opportunity to own a prime investment portfolio in a sought-after location!

17. 2025-10-16
    status Active
18. 2025-10-16
    historical
19. 2025-05-15
    listed $800,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,880
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$9,350
• − Management: −$9,350
• − Depreciation: −$23,273
• Taxable income: $14,094
• Est. tax owed @ 24.0%: −$3,383
• After-tax cash flow: $22,609/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.

Schools (NCES district)

• District: White Plains City School District
• NCES district ID: 3631260
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $78,366
• Composite: 46.72/100
• National rank: #2397
• State rank: #313 of 590 in NY

Livability — White Plains

• Score: 71/100
• State rank: #410
• US rank: #6801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: White Plains, NY
• City population: 61,281
• Population (ZIP): 19,201

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 35% White 34% Black 21% Two or more races 13% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 7% Dominican 3%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 33% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 8% French/Haitian/Cajun 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: ▼ -101.72%
• Current HPI: 317.8177
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

5 events — show timeline

• 2025-11-17 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-16 Listed $800,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-15 Listed $800,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

-28.5%/yr

Latest (2025): $748 · -0.3% YoY. Source: county tax records.