2 Westchester Ave Unit 2L · White Plains, NY 10601

$240,000

1 bd · 1.0 ba · 850 sqft · Condo · 57 Days on market

Built 1927

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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 +10.6/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Schools +4.7/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Broadpark Lodge. Laid-back Dutch Tudor luxury in the perfect residence is this beautiful one-bedroom, one-bathroom, located at the intersection of Westchester Avenue and Main Street. Spacious and modern, and exuding an old-world style and craftsmanship uncommon among more contemporary buildings, you'll be immediately impressed by the space from the moment you step inside. A completely open and large living room is highlighted by original hardwood floors and an electric fireplace feature, which will comfortably accommodate a 70" TV placed above it. This fireplace adds character and charm to the home. Now let's visit the deceptively spacious modern kitchen, which features a un

Key facts

• Peaceful courtyard
• Modern kitchen
• Granite countertops

Tags

• ORIGINAL HARDWOOD FLOORS
• ELECTRIC FIREPLACE FEATURE
• MODERN KITCHEN
• GRANITE COUNTERTOPS
• PEACEFUL COURTYARD
• UPDATED SECURITY FEATURES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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 rising fast (+4.8%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 42% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.7% local appreciation)).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 28% of rent; built in 1927 — 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 $232,800 (3.0% 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 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.25% ✓
• Cap rate: 5.70%
• Cash-on-cash: -2.13%
• DSCR: 0.91
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.69% appreciation · 4.82% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.35×
• Total profit: $23,584
• Equity at exit: $103,802

10-year hold

• IRR: 10.6%
• Equity multiple: 2.62×
• Total profit: $109,046
• Equity at exit: $156,845

Cash invested: $67,200 (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 10601

• Home prices YoY: 1.6%
• Rents YoY: 4.8%
• Active inventory: 87
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,996 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA est. from 2 same-building comps: −$828
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $-119

Break-even live

Break-even rent $3,148

Max offer price $222,729

Occupancy floor 99%

Sensitivity live

Price	-10% $46	-5% $-36	+0% $-119	+5% $-202	+10% $-285
Rent	-10% $-356	-5% $-238	+0% $-119	+5% $-1	+10% $117
Rate	-1.0pp $2	-0.5pp $-58	base $-119	+0.5pp $-182	+1.0pp $-245

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	5d	1	0.04mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	23d	2	0.05mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	14d	1	0.07mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	45d	1	0.08mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	14d	1	0.09mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	45d	1	0.09mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	16d	1	0.18mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	0d	30	0.19mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	6d	1	0.22mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	45d	1	0.22mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	20d	1	0.22mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	4d	2	0.23mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	45d	1	0.23mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	45d	1	0.26mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	45d	1	0.27mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	22d	1	0.29mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$3,900	$4.00	0d	17	0.30mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	45d	1	0.30mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	4d	1	0.32mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	4d	1	0.32mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	25d	1	0.33mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	0d	11	0.34mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	45d	17	0.35mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	45d	1	0.38mi
27 Barker Ave White Plains, NY	2.0	1.0–2.0	1131	$4,144	$3.66	0d	18	0.39mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$3,389	$2.61	0d	122	0.54mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	25d	1	0.55mi
50 Dekalb Ave Unit N4F White Plains, NY	1.0	1.0	1000	$3,100	$3.10	22d	1	0.55mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	45d	1	0.57mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$4,327	$4.38	0d	26	0.60mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	45d	2	0.61mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	14d	2	0.61mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	20d	2	0.61mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	3d	1	0.61mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	45d	1	0.61mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	45d	1	0.61mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	780	$2,850	$3.65	0d	10	0.64mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$2,674	$2.86	0d	19	0.68mi
16 Edward St Unit 2nd floor West Harrison, NY	2.0	1.0	900	$2,600	$2.89	45d	1	0.73mi
55 Bank St White Plains, NY	2.0	1.0–2.0	813	$3,878	$4.77	0d	23	0.73mi

HOA detail condo

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

Listing history 6 events

1. 2026-04-06
   status Pending
2. 2026-02-24
   status Active
3. 2025-12-19
   status Pending
4. 2025-11-07
   listed $240,000 Active
5. 2009-09-05
   historical
6. 2009-07-22
   listed 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 4/10 Moderate
• 🌡 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: $35,958
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,877
• − Management: −$2,877
• − HOA: −$9,936
• − Depreciation: −$6,982
• Taxable loss: −$4,957
• Est. tax savings @ 24.0%: +$1,190
• After-tax cash flow: $-243/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): 11,930
• Household income: $85,859
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 944.0

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 0.70)
• Race & ethnicity: White 43% Hispanic / Latino 28% Black 14% Asian 12% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3% Dominican 7%
• Common ancestry: Romanian 5% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 26% Other Indo-European 7% French/Haitian/Cajun 4%

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: ▲ 2.69%
• Current HPI: 170.1993
• Rent YoY: ▲ 4.82%
• 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

6 events — show timeline

• 2026-04-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-12-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Listed $240,000 OneKey® MLS as Distributed by MLS Grid
• 2009-09-05 Delisted — HGMLS
• 2009-07-22 Listed — HGMLS