29-31 Edgewood Park · New Rochelle, NY 10801

$1,300,000

24 bd · 24.0 ba · — sqft · MultiFamily · 18 Days on market

Built 1895 Good condition 0.32 ac lot

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Why this score? — see what drove the C 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +5.7/10.0
• 1% rule +5.5/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Classic turn-of-the-century four-family home set on a generous, flat property in New Rochelle, offered for the first time since 1973. This exceptional residence features a large level yard, three-car garage, long private driveway, and patio—an increasingly rare combination. The first-floor unit offers a spacious three-bedroom layout with a formal dining room, living room, private entrance, and two full bathrooms. The primary bedroom includes a fireplace and en-suite bath, creating a comfortable owner’s retreat. The second-floor unit features two bedrooms, one full bath, an eat-in kitchen, a living room with fireplace, and a dressing area with ample closets. The third floor inclu

Key facts

• 0.32 acre lot
• 4 garage spots
• Built 1895

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Driveway; Garage; Four garage spaces
• Utilities: Con Edison electric service; Natural gas connected; Public water; Public sewer; Trash collection (public)
• Home design: Quadruplex; Property listed in actual condition
• Construction: Frame construction
• Exterior features: Patio; No waterfront; Curbs and sidewalks in the neighborhood

Interior

• Kitchen: Chef's kitchen; Eat-in and galley-style kitchen areas; Open kitchen layout
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Flooring: Ceramic tile; Wood flooring
• Bathrooms: Five full bathrooms
• Heating & cooling: Hot water heating; Oil-fired heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Chef's kitchen; Eat-in kitchen; Entrance foyer; Formal dining room; Galley-style kitchen; Open floorplan; Open kitchen; Primary bathroom; Main-level primary suite
• Laundry & utility: Basement includes storage space and walk-out access

What this means for you Summary

Snapshot

• This is a 3×3bd/2ba + 1×2bd/1ba units multifamily listed at $1.30M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $456/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.30M).
• Recommended offer: $1.28M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Columbus Elementary School (math 44% / reading 54%, grade D, #1,085 of 2,108 statewide, top 56%, 669 students, 84% 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 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $13,682/mo this rent would consume 192% of the median local household income ($86k/yr) (locally 2797% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k 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 18 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,280,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.05% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-115,644
• Equity at exit: $193,834

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-35,335
• Equity at exit: $112,400

Cash invested: $364,000 (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 10801

• Rents YoY: 1.4%
• Active inventory: 138
• Price-to-rent: 30.5×

Monthly cashflow live

• Estimated rent: $13,682 high
• Mortgage (P&I): −$6,817
• Tax est. 1.5%: −$1,625 /mo · $19,500/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,873
• Net cashflow: $1,825

Break-even live

Break-even rent $11,372

Max offer price $1,300,000

Occupancy floor 82%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$10,641
1× unit	2	1	$3,040
Total (4 units)			$13,682

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: $325,000
• Closing costs: $39,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,300,000 Active 18 DOM
2. 2026-06-17
   days on market $1,300,000 Active 17 DOM
3. 2026-06-16
   days on market $1,300,000 Active 16 DOM
4. 2026-06-15
   days on market $1,300,000 Active 15 DOM
5. 2026-06-13
   days on market $1,300,000 Active 13 DOM
6. 2026-06-09
   days on market $1,300,000 Active 9 DOM
7. 2026-06-08
   days on market $1,300,000 Active 8 DOM
8. 2026-06-07
   days on market $1,300,000 Active 7 DOM
9. 2026-06-04
   days on market $1,300,000 Active 4 DOM
10. 2026-06-03
    days on market $1,300,000 Active 3 DOM
11. 2026-06-02
    days on market $1,300,000 Active 2 DOM
12. 2026-06-01
    statusdays on market $1,300,000 Active 1 DOM
13. 2026-05-31
    days on market $1,300,000 Coming Soon 12 DOM
14. 2026-05-19
    historical $1,300,000

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

Taxation est. · year 1

• Rental income: $164,184
• − Mortgage interest: −$72,820
• − Property taxes: −$19,500
• − Insurance: −$6,500
• − Repairs & maintenance: −$13,135
• − Management: −$13,135
• − Depreciation: −$37,818
• Taxable income: $1,276
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $21,591/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 · 13 photos

Good 75/100 Cosmetic rehab

This classic four-family home in New Rochelle is in good condition with a large, level yard and a three-car garage. It offers a good investment opportunity with potential for value enhancement through exterior painting and landscaping improvements.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the property.
• Both Landscaping improvements — Well-maintained landscaping can improve both the resale and rental value of the property.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the property. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve both the resale and rental value of the property. ↑

ⓘ 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: 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): 42,754
• Household income: $85,573
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 2797.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 36% White 30% Black 24% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 17% Puerto Rican 5% Dominican 3%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 5% 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: ▼ -910.37%
• Current HPI: 270.8019
• Rent YoY: ▲ 1.42%
• 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

• 2026-05-19 Coming Soon $1,300,000 OneKey® MLS as Distributed by MLS Grid