505 Central Ave #618 · White Plains, NY 10606

$219,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 27 Days on market

Built 1968

---

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 +16.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the epitome of comfortable urban living in this pristine 2-bedroom apartment, tailored perfectly for 1st-time buyers, downsizers, or commuters seeking a peaceful retreat with the convenience of city life. Each detail reflects quality & care, from the updated kitchen showcasing gleaming SS appliances to the expansive, modern bathroom adorned with granite & ample storage solutions. Experience the warmth of beautifully refinished hardwood floors & a fresh coat of paint that invites you into a sanctuary flooded with natural light & serene treetop vistas. Unwind or entertain on the oversized balcony, offering a private outdoor oasis. The large primary bedroom boa

Key facts

• Oversized balcony
• Updated kitchen
• Modern bathroom

Tags

• UPDATED KITCHEN
• GLEAMING SS APPLIANCES
• MODERN BATHROOM
• GRANITE STORAGE SOLUTIONS
• REFINISHED HARDWOOD FLOORS
• OVERSIZED BALCONY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $219k).
• Recommended offer: $216k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• Zoned schools: White Plains Middle School (math 36% / reading 53%, grade D, #348 of 729 statewide, top 50%, 1,517 students, 50% FRL); White Plains Senior High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,220 students, 53% FRL).
• Market conditions: Rents flat; 54 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 38% of the median local income ($112k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 27 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 26y ago 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: HOA is 33% of rent.
• 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 $215,715 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.43×
• Total profit: $-35,209
• Equity at exit: $32,654

10-year hold

• IRR: -20.0%
• Equity multiple: 0.16×
• Total profit: $-51,728
• Equity at exit: $18,935

Cash invested: $61,320 (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 10606

• Rents YoY: 0.4%
• Active inventory: 54
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,555 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA est. from 2 same-building comps: −$1,161
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $134

Break-even live

Break-even rent $3,385

Max offer price $219,000

Occupancy floor 91%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Fieldstone Dr Unit 69 Hartsdale, NY	1.0	1.0	800	$2,100	$2.62	12d	1	0.20mi
400 High Point Dr Unit 206 Hartsdale, NY	1.0	1.0	987	$3,300	$3.34	44d	1	0.37mi
55 McKinley Ave Unit D2-3 White Plains, NY	1.0	1.0	809	$2,400	$2.97	44d	1	0.41mi
9 Ridgeview Ave White Plains, NY	3.0	1.0	1500	$3,500	$2.33	25d	1	0.66mi
55 Bank St White Plains, NY	2.0	1.0–2.0	861	$5,420	$6.30	1d	23	0.75mi
57 Bank St Unit 1040035P White Plains, NY	2.0	1.0–2.0	726	$9,348	$12.88	3d	3	0.75mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$5,064	$5.42	1d	20	0.79mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$4,295	$5.19	2d	12	0.83mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	44d	2	0.87mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	13d	2	0.87mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.87mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	19d	2	0.87mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$4,195	$4.82	5d	6	0.88mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$6,146	$6.22	1d	28	0.88mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	44d	1	0.99mi
140 E Hartsdale Ave Hartsdale, NY	2.0	1.0	875	$2,895	$3.31	22d	1	1.04mi
26 Fairview Ave White Plains, NY	3.0	1.5	1100	$3,600	$3.27	44d	1	1.06mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	44d	1	1.17mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	44d	1	1.28mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$5,355	$5.50	1d	19	1.28mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$7,098	$5.47	1d	126	1.28mi
234 Martine Ave White Plains, NY	3.0	2.0	1460	$4,195	$2.87	24d	1	1.31mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$3,240	$4.73	44d	1	1.31mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	1.32mi
240 Martine Ave Apt 4G White Plains, NY	3.0	2.0	1460	$4,195	$2.87	44d	1	1.32mi
55 N Broadway Unit 3-15H White Plains, NY	2.0	2.5	1310	$3,850	$2.94	44d	1	1.33mi
42 Waller Ave White Plains, NY	2.0	1.0	1150	$3,300	$2.87	44d	1	1.34mi
250 S Central Ave Apt 4A Hartsdale, NY	2.0	1.0	1289	$4,350	$3.37	17d	1	1.35mi
250 S Central Ave Apt 3I Hartsdale, NY	2.0	1.0	1000	$4,350	$4.35	44d	1	1.35mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$5,554	$6.31	1d	31	1.36mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$4,375	$5.03	44d	17	1.37mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	3d	1	1.38mi
250 Central Park Ave Unit 5I Hartsdale, NY	2.0	1.0	1000	$4,550	$4.55	17d	1	1.38mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	44d	1	1.38mi
250 S Central Ave Hartsdale, NY	1.0–2.0	1.0–2.0	1084	$5,500	$5.07	1d	1	1.38mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	1.38mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	1.39mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	44d	1	1.42mi
115 N Broadway White Plains, NY	2.0	2.5	1450	$3,750	$2.59	44d	1	1.44mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	44d	1	1.46mi

HOA detail condo

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

Listing history 48 events

1. 2026-04-07
   status Pending
2. 2026-03-11
   listed $219,000 Active
3. 2026-02-01
   historical
4. 2026-01-05
   status Active
5. 2026-01-01
   historical
6. 2025-12-13
   price $225,000
7. 2025-10-14
   price $230,000
8. 2025-08-27
   price $235,000
9. 2025-07-11
   status Active
10. 2025-06-12
    listed $239,000 Active
11. 2023-05-18
    listed $229,000 Active
12. 2023-01-16
    status Active
13. 2023-01-15
    historical
14. 2022-10-14
    price $232,000
15. 2022-08-02
    price $233,000
16. 2022-07-16
    listed $235,000 Active
17. 2022-07-07
    historical
18. 2017-04-04
    soldstatus $215,000 Sold
19. 2017-04-04
    price $215,000
20. 2016-12-02
    historical Pending
21. 2016-12-02
    price $219,000
22. 2016-09-24
    listed $219,000 Active
23. 2013-11-11
    historical
24. 2013-11-10
    historical
25. 2013-06-21
    price
26. 2013-05-10
    listed Active
27. 2013-05-10
    listed $209,900
28. 2012-04-19
    historical Cancelled
29. 2012-04-19
    historical
30. 2012-02-22
    status Active
31. 2012-02-15
    historical
32. 2012-02-14
    listed Active
33. 2012-02-14
    listed $224,888
34. 2012-01-31
    historical
35. 2012-01-12
    price
36. 2011-07-31
    listed Active
37. 2005-03-22
    soldstatus $180,000
38. 2005-01-03
    historical
39. 2005-01-03
    price $184,500
40. 2004-11-17
    listed $180,000
41. 2004-10-12
    historical
42. 2004-06-16
    listed
43. 2004-02-11
    historical
44. 2003-06-30
    listed
45. 2000-08-28
    soldstatus $72,000
46. 2000-07-08
    price $74,900
47. 2000-07-08
    historical
48. 2000-02-23
    listed $72,000

ⓘ 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 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,662
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,413
• − Management: −$3,413
• − HOA: −$13,932
• − Depreciation: −$6,371
• Taxable loss: −$1,114
• Est. tax savings @ 24.0%: +$267
• After-tax cash flow: $1,877/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
• County: Westchester County · 709,332 people
• City population: 61,281
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 17,341
• Household income: $112,270
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 1191.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 30% Black 14% Two or more races 14% Asian 9%
• Hispanic origin (detail): Mexican 16% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 49% English-only · Spanish 37% Other Indo-European 4% Chinese 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: ▼ -474.05%
• Current HPI: 247.9311
• Rent YoY: ▲ 0.41%
• 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

+204.2% since first listed

48 events — show timeline

• 2026-04-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-13 Price Changed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-14 Price Changed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-27 Price Changed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Listed $239,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-18 Listed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2023-01-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-01-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-10-14 Price Changed $232,000 OneKey® MLS as Distributed by MLS Grid
• 2022-08-02 Price Changed $233,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-16 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2022-07-07 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2017-04-04 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-04 Sold (MLS) $215,000 OneKey® MLS as Distributed by MLS Grid
• 2016-12-02 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2016-12-02 Price Changed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2016-09-24 Listed $219,000 OneKey® MLS as Distributed by MLS Grid
• 2013-11-11 Delisted — HGMLS
• 2013-11-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-06-21 Price Changed — HGMLS
• 2013-05-10 Listed — HGMLS
• 2013-05-10 Listed $209,900 OneKey® MLS as Distributed by MLS Grid
• 2012-04-19 Delisted — HGMLS
• 2012-04-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-02-22 Relisted — HGMLS
• 2012-02-15 Delisted — HGMLS
• 2012-02-14 Listed — HGMLS
• 2012-02-14 Listed $224,888 OneKey® MLS as Distributed by MLS Grid
• 2012-01-31 Delisted — HGMLS
• 2012-01-12 Price Changed — HGMLS
• 2011-07-31 Listed — HGMLS
• 2005-03-22 Sold (MLS) $180,000 HGMLS
• 2005-01-03 Price Changed $184,500 HGMLS
• 2005-01-03 Delisted — HGMLS
• 2004-11-17 Listed $180,000 HGMLS
• 2004-10-12 Delisted — HGMLS
• 2004-06-16 Listed — HGMLS
• 2004-02-11 Delisted — HGMLS
• 2003-06-30 Listed — HGMLS
• 2000-08-28 Sold (MLS) $72,000 HGMLS
• 2000-07-08 Delisted — HGMLS
• 2000-07-08 Price Changed $74,900 HGMLS
• 2000-02-23 Listed $72,000 HGMLS