708 Palmer Ct Unit 1D · Mamaroneck, NY 10543

$299,000

2 bd · 1.0 ba · 885 sqft · Condo · 38 Days on market

Built 1961 Good condition $338/sqft · 10% below area Est $334k · 10% under

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Why this score? — see what drove the B- 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 +22.5/30.0
• ARV discount +12.2/15.0
• DSCR +7.2/10.0
• Schools +7.1/10.0
• 1% rule +5.9/10.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 2 bedroom, 1 bath corner unit in lovely Palmer Terrace. This lovely community located close to Mamaroneck Village with its wonderful restaurants and shops features landscaped grounds with walking paths, a playground, a basketball court, storage ($45 per month) a fitness center ($20 per month) and free unassigned parking. There is a waitlist for garage parking ($85 per month. ) All this is only 40 minutes by train to Grand Central Terminal.

Key facts

• Fitness center
• Landscaped grounds
• Basketball court

Tags

• CORNER UNIT
• LANDSCAPED GROUNDS
• WALKING PATHS
• PLAYGROUND
• BASKETBALL COURT
• FITNESS CENTER

Property features AI

Exterior

• Parking: Parking lot with monthly fee (fee approximately $85) - waitlist may apply; No carport
• Utilities: Electricity connected (Con-Edison); Public sewer; Water connected; Trash collection (public)
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Bedroom on first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Wall/Window air conditioning unit(s)
• Interior features: First-floor bedroom; Galley-type kitchen; Measured living area (885 sq ft)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.1% in Mamaroneck — 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 69/100 on livability (#491 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities C-, commute F, 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: Rents rising fast (+6.7%/yr); 126 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 31% of the median local income ($126k/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 $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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $333,581
• List price: $299,000
• Delta: -10.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-3,796
• Equity at exit: $44,582

10-year hold

• IRR: 12.1%
• Equity multiple: 2.12×
• Total profit: $93,775
• Equity at exit: $25,852

Cash invested: $83,720 (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 10543

• Rents YoY: 6.7%
• Active inventory: 126
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,253 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $503

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 80%

Sensitivity live

Price	-10% $710	-5% $606	+0% $503	+5% $400	+10% $297
Rent	-10% $246	-5% $375	+0% $503	+5% $632	+10% $760
Rate	-1.0pp $654	-0.5pp $579	base $503	+0.5pp $426	+1.0pp $347

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Rockland Ave Unit 2 Mamaroneck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.11mi
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	44d	1	0.32mi
314 Larchmont Acres Unit 4C Mamaroneck, NY	2.0	1.0	1074	$2,985	$2.78	25d	1	0.38mi
4 Larchmont Acres Unit 4C Larchmont, NY	2.0	1.0	1074	$2,985	$2.78	25d	1	0.41mi
338 Palmer Ave Unit B Mamaroneck, NY	2.0	1.0	900	$3,700	$4.11	25d	1	0.41mi
300 Livingston Ave Unit 3E Mamaroneck, NY	1.0	1.0	946	$3,600	$3.81	44d	1	0.43mi
225 Stanley Ave #313 Mamaroneck, NY	1.0	1.0	825	$3,500	$4.24	25d	1	0.48mi
172 E Prospect Ave Unit 304 Mamaroneck, NY	1.0	2.0	925	$3,620	$3.91	44d	1	0.67mi
18 Grand St Mamaroneck, NY	1.0	1.0	790	$3,025	$3.83	21d	1	0.71mi
210 Union Ave Mamaroneck, NY	3.0	1.5	1000	$3,500	$3.50	25d	1	0.74mi
746 Mamaroneck Ave Mamaroneck, NY	1.0–2.0	1.0–2.0	974	$5,720	$5.87	0d	17	0.76mi
416 Tompkins Ave Unit SECOND FLOOR Mamaroneck, NY	2.0	1.0	1100	$3,800	$3.45	44d	1	0.80mi
1833 Palmer Ave Unit 3K Larchmont, NY	2.0	1.0	875	$2,700	$3.09	44d	1	1.03mi
538 Jefferson Ave Mamaroneck, NY	1.0	1.0	600	$2,100	$3.50	44d	1	1.04mi
501 N Barry Ave Unit 2F Mamaroneck, NY	1.0	1.0	600	$2,150	$3.58	44d	1	1.11mi
5 Lester Pl Unit 1 Larchmont, NY	2.0	1.0	850	$3,200	$3.76	25d	1	1.44mi
1408 Henry Ave #1 Mamaroneck, NY	2.0	1.0	850	$3,200	$3.76	44d	1	1.46mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $299,000 Active 38 DOM
2. 2026-06-18
   days on market $299,000 Active 35 DOM
3. 2026-06-17
   days on market $299,000 Active 34 DOM
4. 2026-06-16
   days on market $299,000 Active 33 DOM
5. 2026-06-15
   days on market $299,000 Active 32 DOM
6. 2026-06-13
   days on market $299,000 Active 30 DOM
7. 2026-06-09
   days on market $299,000 Active 26 DOM
8. 2026-06-08
   days on market $299,000 Active 25 DOM
9. 2026-06-07
   days on market $299,000 Active 24 DOM
10. 2026-06-04
    days on market $299,000 Active 21 DOM
11. 2026-06-03
    days on market $299,000 Active 20 DOM
12. 2026-06-02
    days on market $299,000 Active 19 DOM
13. 2026-06-01
    days on market $299,000 Active 18 DOM
14. 2026-05-31
    days on market $299,000 Active 17 DOM
15. 2026-05-14
    listed $299,000 Active 461-char remark

ⓘ 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 3/10 Moderate
• 🌡 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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,030
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,122
• − Management: −$3,122
• − Depreciation: −$8,698
• Taxable income: $1,359
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $5,712/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 · 18 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 1-bath corner unit in Palmer Terrace is in good condition with a good exterior and interior. It has a good location with easy access to Mamaroneck Village and Grand Central Terminal. The home has a good resale and rental value with potential for further improvements.

Value-add opportunities

• Both Painting — Fresh paint can improve the home's curb appeal and interior aesthetics
• Both Landscaping — A well-maintained landscape can enhance the home's curb appeal and attract potential buyers
• Resale Appliances — Upgrading to modern appliances can increase the home's appeal to potential buyers
• Resale Kitchen cabinets — Updating the kitchen cabinets can improve the home's curb appeal and attract potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint can improve the home's curb appeal and interior aesthetics ↑
• Both Landscaping — A well-maintained landscape can enhance the home's curb appeal and attract potential buyers ↑
• Resale Appliances — Upgrading to modern appliances can increase the home's appeal to potential buyers ↑
• Resale Kitchen cabinets — Updating the kitchen cabinets can improve the home's curb appeal and attract potential buyers ↑

ⓘ 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: 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 — Mamaroneck

• Score: 69/100
• State rank: #491
• US rank: #8656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mamaroneck, NY
• County: Westchester County · 709,332 people
• City population: 20,989
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,989
• Household income: $126,417
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 1152.0

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 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 27% Two or more races 11% Asian 5% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4% Dominican 2%
• Common ancestry: Russian 3% Romanian 2% Scotch-Irish 2%
• Foreign-born: 28% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 23% Other Indo-European 8% Other Asian/Pacific 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: ▼ -220.53%
• Current HPI: 268.4687
• Rent YoY: ▲ 6.70%
• 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

1 event — show timeline

• 2026-05-14 Listed $299,000 OneKey® MLS as Distributed by MLS Grid