485 Pelham Rd Unit B56 · New Rochelle, NY 10805

$145,000

1 bd · 1.0 ba · 550 sqft · Condo · 19 Days on market

Built 1927 $264/sqft · 12% below area Est $165k · 12% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.7/10.0
• Appreciation +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today!

Key facts

• Built 1927
• Listed 19 days

Property features AI

Finance

• HOA & community: Shore Road Apartment Corporation; Additional monthly fee of $83.64 for assessments through end of 2027

Exterior

• Parking: No carport; Parking waitlist
• Security: Smoke detectors
• Utilities: Con Edison electric; Natural gas connected; Public water; Public sewer; Public trash collection; Electricity connected; Sewer connected; Water connected
• Home design: Stock cooperative; 7-story building; Unit entry on 5th level; One-level unit; Actual property condition
• Construction: Brick construction
• Exterior features: Bicycle room; Not waterfront

Interior

• Kitchen: Dishwasher; Gas oven; Microwave; Refrigerator; Freezer
• Bedrooms: 2 rooms total
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning units
• Interior features: Elevator; Entrance foyer; High ceilings; Open floorplan; Storage; Oversized windows; Basement with common areas, storage space and walk-out access; No attic
• Laundry & utility: Common area laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 4.5% in New Rochelle — 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 (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 478 students, 70% FRL); Isaac E Young Middle School (math 47% / reading 62%, grade B-, #214 of 729 statewide, top 31%, 1,138 students, 76% FRL); New Rochelle High School (math 87% / reading 72%, grade A-, #518 of 1,100 statewide, top 51%, 3,076 students, 57% FRL) — zoned schools average 68% FRL vs 41% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 84 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k 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 (-1.5% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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.
• Current owner paid $50k; list at $145k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.73% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.02%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $164,782
• List price: $145,000
• Delta: -12.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.09×
• Total profit: $44,378
• Equity at exit: $31,711

10-year hold

• IRR: 30.2%
• Equity multiple: 4.02×
• Total profit: $122,738
• Equity at exit: $30,570

Cash invested: $40,600 (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 10805

• Home prices YoY: -0.5%
• Active inventory: 84
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,511 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $916

Break-even live

Break-even rent $1,353

Max offer price $145,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,016	-5% $966	+0% $916	+5% $865	+10% $815
Rent	-10% $717	-5% $816	+0% $916	+5% $1,015	+10% $1,114
Rate	-1.0pp $989	-0.5pp $952	base $916	+0.5pp $878	+1.0pp $840

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	13d	1	0.09mi
3 Harbor Ln Unit 3A New Rochelle, NY	1.0	1.0	700	$2,500	$3.57	25d	1	0.31mi
666 Pelham Rd Apt 3A New Rochelle, NY	1.0	1.0	750	$2,350	$3.13	44d	1	0.44mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,195	$2.54	2d	2	0.53mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,054	$4.08	5d	12	0.68mi
130 Centre Ave Unit 4B New Rochelle, NY	—	1.0	452	$1,885	$4.17	44d	1	0.71mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$2,847	$3.62	2d	17	0.71mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	5d	6	0.78mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	2d	31	0.79mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$2,945	$3.85	2d	15	0.80mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$3,721	$4.09	2d	28	0.82mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	3d	12	0.86mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,536	$4.59	3d	50	0.87mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	5d	8	0.89mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	0.91mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,158	$3.44	2d	51	0.92mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$3,764	$5.08	2d	14	0.99mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,922	$3.26	3d	31	1.02mi
95 Washington Ave Unit 1R New Rochelle, NY	—	1.0	400	$1,700	$4.25	24d	1	1.13mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	11d	10	1.18mi
11 Burling Ln New Rochelle, NY	—	1.0	516	$2,250	$4.36	21d	9	1.23mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,094	$3.91	2d	11	1.25mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	44d	1	1.31mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	18d	1	1.37mi
111 Colonial Pl Unit 3 New Rochelle, NY	1.0	1.0	400	$2,300	$5.75	19d	1	1.41mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	44d	1	1.42mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-03
   status $145,000 Pending 19 DOM
2. 2026-06-02
   days on market $145,000 Active 19 DOM
3. 2026-06-01
   days on market $145,000 Active 18 DOM
4. 2026-05-31
   days on market $145,000 Active 17 DOM
5. 2026-05-15
   listed $145,000 Active 987-char remark
6. 2026-05-09
   historical $145,000 987-char remark
7. 2016-01-09
   soldstatus $49,500 Sold 275-char remark

   Show marketing remark (275 chars)

   This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today!

8. 2016-01-08
   soldstatus $49,500

   Show marketing remark (332 chars)

   This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today! Additional Information: HeatingFuel:Oil Above Ground,

9. 2015-08-04
   historical Pending 275-char remark

   Show marketing remark (275 chars)

   This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today!

10. 2015-03-30
    price $49,500 275-char remark

    Show marketing remark (275 chars)

    This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today!

11. 2014-10-29
    price $55,000 275-char remark

    Show marketing remark (275 chars)

    This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today!

12. 2014-05-07
    listed $60,000 Active 275-char remark

    Show marketing remark (332 chars)

    This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today! Additional Information: HeatingFuel:Oil Above Ground,

13. 2014-05-07
    listed $49,500

    Show marketing remark (332 chars)

    This is such a great opportunity for the right buyer. Better than renting! Don't be discouraged, this studio feels like a one bedroom with modest sized sleeping alcove with closet. Everything is tastefully done, all you have to do is move in. Schedule and appointment today! Additional Information: HeatingFuel:Oil Above Ground,

14. 2014-03-15
    price $90,500
15. 2008-04-01
    historical
16. 2008-04-01
    soldstatus $90,500
17. 2007-12-07
    price $94,500
18. 2007-05-14
    listed $94,500
19. 2001-10-26
    soldstatus $35,000
20. 2001-08-22
    historical
21. 2001-05-23
    listed $35,000
22. 2000-04-27
    historical
23. 1999-10-27
    listed

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 78% 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,137
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$1,522
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$4,218
• Taxable income: $9,277
• Est. tax owed @ 24.0%: −$2,227
• After-tax cash flow: $8,760/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: New Rochelle City School District
• NCES district ID: 3620490
• Math proficiency: 63% ▲ 3.00%
• Reading proficiency: 66% ▲ 9.00%
• Median HH income: $69,165
• Composite: 56.63/100
• National rank: #1139
• State rank: #171 of 590 in NY

Livability — New Rochelle

• Score: 69/100
• State rank: #487
• US rank: #8572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Rochelle, NY
• County: Westchester County · 709,332 people
• City population: 63,657
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,903
• Household income: $102,109
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 961.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 39% White 38% Black 17% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 15% Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 2% Russian 1% Scotch-Irish 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 7% German/W. Germanic 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: ▼ -1.48%
• Current HPI: 278.8511
• 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

+314.3% since first listed

20 events — show timeline

• 2026-06-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-15 Listed $145,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-09 Coming Soon $145,000 OneKey® MLS as Distributed by MLS Grid
• 2016-01-09 Sold (MLS) $49,500 HGMLS
• 2016-01-08 Sold (MLS) $49,500 OneKey® MLS as Distributed by MLS Grid
• 2015-08-04 Contingent — HGMLS
• 2015-03-30 Price Changed $49,500 HGMLS
• 2014-10-29 Price Changed $55,000 HGMLS
• 2014-05-07 Listed $60,000 HGMLS
• 2014-05-07 Listed $49,500 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $90,500 HGMLS
• 2008-04-01 Delisted — HGMLS
• 2008-04-01 Sold (MLS) $90,500 HGMLS
• 2007-12-07 Price Changed $94,500 HGMLS
• 2007-05-14 Listed $94,500 HGMLS
• 2001-10-26 Sold (MLS) $35,000 HGMLS
• 2001-08-22 Delisted — HGMLS
• 2001-05-23 Listed $35,000 HGMLS
• 2000-04-27 Delisted — HGMLS
• 1999-10-27 Listed — HGMLS