7 Fernwood Ave · Rye, NY 10580

$2,100,000

4 bd · 2.0 ba · 2,224 sqft · SingleFamily public records · 56 Days on market

Built 1929 4,356 sqft lot $944/sqft · 9% above area Est $3191k · 34% under

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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).

• ARV discount +15.0/15.0
• Schools +8.6/10.0
• Appreciation +8.3/10.0
• Livability +3.5/5.0
• Cash flow +2.7/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to 7 Fernwood Avenue, a beautifully renovated 5-bedroom, 4.5-bath home in the heart of sought-after Rye. Thoughtfully redesigned, this move-in ready residence blends timeless architecture with modern finishes, offering bright, open living spaces and a seamless flow ideal for both everyday living and entertaining. The centerpiece of the home is the stunning chef’s kitchen, complete with an oversized quartz island, apron-front sink, custom cabinetry, and a full suite of premium Thermador appliances, including a professional-grade range, wine refrigerator, microwave drawer, and dishwasher. The kitchen opens effortlessly to a sunlit family room, creating a warm and inviting space

Key facts

• Custom cabinetry
• Renovated home
• Chef's kitchen

Tags

• RENOVATED HOME
• CHEF'S KITCHEN
• OVERSIZED QUARTZ ISLAND
• CUSTOM CABINETRY
• PREMIUM THERMADOR APPLIANCES
• SUNLIT FAMILY ROOM

Property features AI

Exterior

• Parking: Garage (1 space)
• Utilities: Electric service: Con-Edison; Public sewer; Utilities: See remarks
• Home design: Single family residence; Measured living area
• Construction: Stucco construction
• Exterior features: Stucco exterior; Back yard fencing; Not waterfront

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: 10 rooms total (bedroom count not separately specified)
• Flooring: Hardwood
• Bathrooms: 4 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cathedral ceilings; Finished basement; Partial attic
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $2.10M.

Deal economics

• At list price, monthly cash flow is $-7k ($-90k/yr) — negative.
• To cash-flow at today's rent, offer at most $777k (63.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $839k (60.0% below list).
• Recommended offer: $777k (63.0% below list) — sets the bar for cash-flow.
• Cap rate 2.3% vs local median 1.5% in Rye — 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 70/100 on livability (#431 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• Rye City School District (suburban): math 89% / reading 93% proficiency, ranked #4 of 590 in NY (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Milton School (math 95% / reading 95%, grade A+, #5 of 2,108 statewide, top 0%, 349 students, 0% FRL); Rye Middle School (math 77% / reading 92%, grade A+, #13 of 729 statewide, top 2%, 685 students, 0% FRL); Rye High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 903 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 121 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• In year one you build about $154k of equity ($15k loan paydown + $140k appreciation (6.6% local appreciation)).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$246k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($2.04M) 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.
• Current owner paid $1.40M; list at $2.10M implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $777,301 (63.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 63% concession, seller financing, or rate buy-down credit?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.40% ✗
• Cap rate: 2.26%
• Cash-on-cash: -14.41%
• DSCR: 0.36
• GRM: 20.9

CMA / ARV

• ARV (median comp): $3,190,778
• List price: $2,100,000
• Delta: -32.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Cowles Ave	0.12mi	3/2.5 (-1)	2,169 (-2%)	12mo	$2,265,000	$1,044	73
5 1/2 Oakwood Ave	0.36mi	4/2.0	2,100 (-6%)	4mo	$1,100,000	$524	70
9 Bulkley Mnr	0.27mi	4/3.0	2,321 (+4%)	11mo	$1,539,000	$663	67
22 Brookdale Pl	0.18mi	4/2.5	1,902 (-14%)	1mo	$1,800,000	$946	65
32 Ridgeland Ter	0.29mi	4/2.0	1,978 (-11%)	8mo	$1,104,000	$558	61
80 North St	0.64mi	4/3.0	2,248 (+1%)	5mo	$1,885,000	$839	60
306 Oakland Beach Ave	0.45mi	3/2.5 (-1)	2,160 (-3%)	11mo	$1,214,000	$562	58
5 Redfield St	0.37mi	3/1.5 (-1)	2,006 (-10%)	8mo	$1,675,000	$835	53
14 Loewen Ct	0.66mi	3/2.5 (-1)	2,340 (+5%)	1mo	$2,267,000	$969	53
116 North St	0.74mi	5/4.0 (+1)	2,260 (+2%)	6mo	$1,550,000	$686	45
100 North St	0.71mi	3/2.5 (-1)	2,356 (+6%)	12mo	$1,825,000	$775	40
21 Hammond Rd	0.67mi	4/2.5	2,523 (+13%)	13mo	$1,800,000	$713	34

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

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.36×
• Total profit: $210,378
• Equity at exit: $1,406,380

10-year hold

• IRR: 7.5%
• Equity multiple: 2.66×
• Total profit: $973,773
• Equity at exit: $2,628,368

Cash invested: $588,000 (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 10580

• Home prices YoY: 2.1%
• Active inventory: 121
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $8,392 high
• Mortgage (P&I): −$11,013
• Tax from tax record: −$1,803 /mo · $21,634/yr
• Insurance: −$875
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,762
• Net cashflow: $-7,488

Break-even live

Break-even rent $17,870

Max offer price $777,301

Occupancy floor —

Sensitivity live

Price	-10% $-6,299	-5% $-6,893	+0% $-7,488	+5% $-8,082	+10% $-8,676
Rent	-10% $-8,150	-5% $-7,819	+0% $-7,488	+5% $-7,156	+10% $-6,825
Rate	-1.0pp $-6,430	-0.5pp $-6,953	base $-7,488	+0.5pp $-8,032	+1.0pp $-8,585

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: $525,000
• Closing costs: $63,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Fenton St Rye, NY	3.0	2.0	1428	$8,800	$6.16	18d	1	0.11mi
9 Marlene Ct Rye, NY	4.0	3.0	1750	$10,500	$6.00	9d	1	0.69mi
150 Theodore Fremd Ave Rye, NY	2.0–4.0	1.0–2.5	1320	$5,795	$4.39	0d	1	0.93mi
124 Maple Ave Rye, NY	3.0	2.5	2615	$9,000	$3.44	5d	1	1.00mi
228 Central Ave Rye, NY	4.0	3.5	2466	$11,000	$4.46	12d	1	1.10mi
228 Central Ave Rye, NY	4.0	3.5	2466	$10,000	$4.06	0d	1	1.10mi
332 Halstead Ave Harrison, NY	1.0–3.0	1.0–3.0	1116	$5,000	$4.48	0d	1	1.27mi
8 Davenport St Harrison, NY	3.0	2.0	1700	$5,000	$2.94	4d	1	1.45mi

Listing history 23 events

1. 2026-06-21
   pricedays on market $2,100,000 Active 56 DOM
2. 2026-06-18
   days on market $2,149,900 Active 53 DOM
3. 2026-06-17
   days on market $2,149,900 Active 52 DOM
4. 2026-06-16
   days on market $2,149,900 Active 51 DOM
5. 2026-06-15
   days on market $2,149,900 Active 50 DOM
6. 2026-06-13
   days on market $2,149,900 Active 48 DOM
7. 2026-06-13
   days on market $2,149,900 Active 47 DOM
8. 2026-06-09
   days on market $2,149,900 Active 44 DOM
9. 2026-06-08
   days on market $2,149,900 Active 43 DOM
10. 2026-06-07
    days on market $2,149,900 Active 42 DOM
11. 2026-06-04
    days on market $2,149,900 Active 39 DOM
12. 2026-06-03
    days on market $2,149,900 Active 38 DOM
13. 2026-06-02
    days on market $2,149,900 Active 37 DOM
14. 2026-06-01
    days on market $2,149,900 Active 36 DOM
15. 2026-05-31
    days on market $2,149,900 Active 35 DOM
16. 2026-04-26
    listed $2,195,000 Active 1696-char remark
17. 2026-03-05
    price $2,295,000
18. 2026-02-20
    price $2,350,000
19. 2026-02-04
    status Active
20. 2026-01-09
    listed $2,395,000 Active
21. 2026-01-07
    historical
22. 2025-10-23
    soldstatus $1,400,000
23. 1986-04-30
    soldstatus $240,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $21,634 · $1,803/mo
• Projected year-2 tax: $28,562 · $2,380/mo
• Expected delta: +$6,928/yr (+$577/mo · 32.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 53% 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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $100,701
• − Mortgage interest: −$117,633
• − Property taxes: −$21,634
• − Insurance: −$15,618
• − Repairs & maintenance: −$8,056
• − Management: −$8,056
• − Depreciation: −$61,091
• Taxable loss: −$131,387
• Est. tax savings @ 24.0%: +$31,533
• After-tax cash flow: $-58,317/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: Rye City School District
• NCES district ID: 3625260
• Math proficiency: 89% ▲ 11.00%
• Reading proficiency: 93% ▲ 12.00%
• Median HH income: $144,848
• Composite: 85.84/100
• National rank: #6
• State rank: #4 of 590 in NY

Livability — Rye

• Score: 70/100
• State rank: #431
• US rank: #7470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rye, NY
• County: Westchester County · 709,332 people
• City population: 18,391
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 18,391
• Household income: $250,001
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 580.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Asian 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 5% Italian 3% German 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 6% Other Indo-European 3% 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: ▲ 6.64%
• Current HPI: 321.5777
• 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

+795.8% since first listed

9 events — show timeline

• 2026-05-26 Price Changed $2,149,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-26 Listed $2,195,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $2,295,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $2,350,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-04 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-09 Listed $2,395,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Sold (Public Records) $1,400,000 Public Records
• 1986-04-30 Sold (Public Records) $240,000 Public Records

Property tax history

+18.8%/yr

Latest (2025): $21,634 · +3.3% YoY. Source: county tax records.