1440 Boston Post Rd Unit 2I · Larchmont, NY 10538

$310,000

2 bd · 1.0 ba · 850 sqft · Townhouse · 22 Days on market

Built 1924

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Why this score? — see what drove the D 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 +17.7/30.0
• Schools +7.1/10.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Location! Location! Location! Larchmont Gables is a sought-after, charming, pre-war, co-op community with a resident superintendent and conveniently situated close to restaurants, schools, shopping, parks, Metro North, bus stops, Long Island Sound, and even an ice skating rink. This welcoming 2 bedroom, corner unit is freshly painted, on the second floor, is bright and sunny, has high ceilings and hardwood floors. Monthly maintenance includes taxes, heat, hot water, trash and sewer. Shareholders/residents receive immediate parking privileges, have access to bike storage and a common laundry room. As an added perk, shareholders of Larchmont Gables are eligible to join Larchmont Manor Beach e

Key facts

• Parking
• Built 1924
• Listed 21 days

Property features AI

Finance

• HOA & community: Association: Larchmont Gables; Live-in superintendent; Association fee covers common area and exterior maintenance, grounds care, heat, hot water, sewer, snow removal, trash and water; Additional monthly fuel assessment of $110

Exterior

• Parking: Carport; Off-street parking; Unassigned parking (total 1); Parking fee of $10
• Security: Building security
• Utilities: Public sewer; Utilities: see remarks
• Home design: Stock cooperative; One level (unit); 3-story building; Entry on level 2
• Construction: Brick construction; Stone construction; Stucco construction
• Exterior features: Brick, stone and stucco exterior; No waterfront; Bicycle room; Walk-up building

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: Second-floor unit
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Oil heating; Wall/window air conditioning unit(s)
• Interior features: Built-in features; Common basement
• Laundry & utility: Laundry room; Common area laundry; Basement laundry

🏢 Co-op / cooperative unit. The $310,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $310k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $303k (2.4% below list).
• Recommended offer: $303k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.1% in Larchmont — 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 86/100 on livability (#18 in NY, #366 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Mamaroneck Union Free School District (suburban): math 74% / reading 81% proficiency, ranked #47 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Central School (math 78% / reading 78%, grade A, #239 of 2,108 statewide, top 11%, 513 students, 14% FRL); Hommocks School (math 65% / reading 79%, grade A, #76 of 729 statewide, top 11%, 1,258 students, 20% FRL); Mamaroneck High School (math 95% / reading 91%, grade A+, #147 of 1,100 statewide, top 14%, 1,660 students, 23% FRL).
• Market conditions: 138 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $9k 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 22 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $302,649 (2.4% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $250,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Alden Rd Unit 4D	0.04mi	1/1.0 (-1)	850 (0%)	5mo	$240,000	$282	89
1444 Boston Post Rd Unit 2G	0.02mi	2/1.0	908 (+7%)	3mo	$319,000	$351	85
316 Richbell Rd Unit C2	0.58mi	2/1.0	850 (0%)	2mo	$251,000	$295	71
336 Richbell Rd Unit C4	0.54mi	2/1.0	850 (0%)	6mo	$255,000	$300	70
1299 Palmer Ave #124	0.38mi	1/1.0 (-1)	900 (+6%)	1mo	$255,000	$283	66
1299 Palmer Ave #328	0.36mi	1/1.0 (-1)	900 (+6%)	5mo	$190,050	$211	64
1815 Palmer Ave Unit 2V	0.37mi	1/1.0 (-1)	780 (-8%)	2mo	$230,000	$295	62
21 N Chatsworth Ave Unit 4F	0.69mi	1/1.0 (-1)	864 (+2%)	5mo	$335,000	$388	56
21 N Chatsworth Ave Unit 4N	0.69mi	1/1.0 (-1)	900 (+6%)	4mo	$315,000	$350	50
340 Richbell Rd Unit B4	0.54mi	1/1.0 (-1)	750 (-12%)	3mo	$160,000	$213	48
342 Richbell Unit A4	0.54mi	1/1.0 (-1)	750 (-12%)	5mo	$189,900	$253	46
200 Richbell Rd Unit A2	0.58mi	1/1.0 (-1)	750 (-12%)	4mo	$187,500	$250	45

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-34,355
• Equity at exit: $46,222

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-9,343
• Equity at exit: $26,803

Cash invested: $86,800 (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 10538

• Active inventory: 138
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,026 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $249

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 87%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1833 Palmer Ave Unit 3K Larchmont, NY	2.0	1.0	875	$2,700	$3.09	44d	1	0.41mi
4 Larchmont Acres Unit 4C Larchmont, NY	2.0	1.0	1074	$2,985	$2.78	25d	1	0.55mi
314 Larchmont Acres Unit 4C Mamaroneck, NY	2.0	1.0	1074	$2,985	$2.78	25d	1	0.57mi
5 Lester Pl Unit 1 Larchmont, NY	2.0	1.0	850	$3,200	$3.76	25d	1	0.85mi
505 Rockland Ave Unit 2 Mamaroneck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.94mi
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	44d	1	1.12mi
300 Livingston Ave Unit 3E Mamaroneck, NY	1.0	1.0	946	$3,600	$3.81	44d	1	1.20mi
338 Palmer Ave Unit B Mamaroneck, NY	2.0	1.0	900	$3,700	$4.11	25d	1	1.28mi
225 Stanley Ave #313 Mamaroneck, NY	1.0	1.0	825	$3,500	$4.24	25d	1	1.39mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	44d	1	1.46mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	1.46mi
172 E Prospect Ave Unit 304 Mamaroneck, NY	1.0	2.0	925	$3,620	$3.91	44d	1	1.47mi

Listing history 27 events

1. 2026-06-18
   days on market $310,000 Active 22 DOM
2. 2026-06-17
   days on market $310,000 Active 21 DOM
3. 2026-06-16
   days on market $310,000 Active 20 DOM
4. 2026-06-15
   days on market $310,000 Active 19 DOM
5. 2026-06-13
   days on market $310,000 Active 17 DOM
6. 2026-06-09
   days on market $310,000 Active 13 DOM
7. 2026-06-08
   days on market $310,000 Active 12 DOM
8. 2026-06-07
   days on market $310,000 Active 11 DOM
9. 2026-06-04
   days on market $310,000 Active 8 DOM
10. 2026-06-03
    days on market $310,000 Active 7 DOM
11. 2026-06-02
    days on market $310,000 Active 6 DOM
12. 2026-06-01
    days on market $310,000 Active 5 DOM
13. 2026-05-31
    days on market $310,000 Active 4 DOM
14. 2026-05-24
    historical $310,000
15. 2021-11-15
    historical
16. 2021-11-05
    price $269,000
17. 2021-08-06
    status Active
18. 2021-07-13
    historical
19. 2021-05-20
    listed $278,000 Active
20. 2019-05-07
    historical
21. 2019-01-19
    listed $279,000 Active
22. 2006-04-01
    soldstatus $275,000
23. 2006-01-30
    historical
24. 2005-06-14
    listed $275,000
25. 2000-10-26
    soldstatus $74,000
26. 2000-10-26
    price $79,500
27. 2000-07-10
    listed $74,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,318
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,905
• − Management: −$2,905
• − Depreciation: −$9,018
• Taxable loss: −$2,076
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $3,481/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: Mamaroneck Union Free School District
• NCES district ID: 3618240
• Math proficiency: 74% ▼ -4.00%
• Reading proficiency: 81% ▲ 9.00%
• Median HH income: $111,011
• Composite: 71.4/100
• National rank: #228
• State rank: #47 of 590 in NY

Livability — Larchmont

• Score: 86/100
• State rank: #18
• US rank: #366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,709

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 5% Italian 3% Romanian 3%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 4% 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: ▼ -535.56%
• Current HPI: 325.1393
• 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

+318.9% since first listed

14 events — show timeline

• 2026-05-24 Coming Soon $310,000 OneKey® MLS as Distributed by MLS Grid
• 2021-11-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-11-05 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-07-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-05-20 Listed $278,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-01-19 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2006-04-01 Sold (MLS) $275,000 HGMLS
• 2006-01-30 Delisted — HGMLS
• 2005-06-14 Listed $275,000 HGMLS
• 2000-10-26 Price Changed $79,500 HGMLS
• 2000-10-26 Sold (MLS) $74,000 HGMLS
• 2000-07-10 Listed $74,000 HGMLS