1829 Palmer Ave Unit 3A · Larchmont, NY 10538

$230,000

1 bd · 1.0 ba · 700 sqft · SingleFamily · 26 Days on market

Built 1950 $329/sqft · 5% below area Est $242k · 5% 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 +25.6/30.0
• ARV discount +9.8/15.0
• DSCR +8.5/10.0
• Schools +7.1/10.0
• 1% rule +6.7/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, turnkey living in the heart of Larchmont! This beautifully renovated top floor 1 bedroom co-op offers the perfect blend of modern updates and unbeatable convenience. This unit features a sleek, updated kitchen with contemporary cabinetry, new stainless steel appliances, flowing seamlessly into a bright and spacious living area with built in electric fireplace- ideal for both relaxing and entertaining. The generously sized bedroom provides excellent closet space and natural light, while the updated bathroom showcases stylish finished and clean, modern design. Located just moments away from the Larchmont train station, village shops, restaurants, and parks, this home is a commuter’s dream with the charm of suburban living. Enjoy all that Larchmont has to offer- vibrant dining, waterfront parks, and a true village lifestyle- right outside your door. For additional convenience, laundry room is located on the lower level of the building next door, and a full-time super. Don’t miss this opportunity to own a fully renovated gem!

Key facts

• Waterfront parks
• Updated kitchen
• Updated bathroom

Tags

• UPDATED KITCHEN
• BUILT IN ELECTRIC FIREPLACE
• EXCELLENT CLOSET SPACE
• UPDATED BATHROOM
• WATERFRONT PARKS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $227k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.1% in Larchmont — 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 86/100 on livability (#18 in NY, #366 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: 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.
• Market conditions: 138 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 26 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $226,550 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $242,189
• List price: $230,000
• Delta: -5.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,625
• Equity at exit: $34,294

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $42,438
• Equity at exit: $19,886

Cash invested: $64,400 (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 10538

• Active inventory: 138
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $543

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 75%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	43d	1	0.95mi
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	43d	1	1.25mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	18d	1	1.27mi

Listing history 6 events

1. 2026-05-07
   status Pending 1067-char remark

   Show marketing remark (1067 chars)

   Welcome to easy, turnkey living in the heart of Larchmont! This beautifully renovated top floor 1 bedroom co-op offers the perfect blend of modern updates and unbeatable convenience. This unit features a sleek, updated kitchen with contemporary cabinetry, new stainless steel appliances, flowing seamlessly into a bright and spacious living area with built in electric fireplace- ideal for both relaxing and entertaining. The generously sized bedroom provides excellent closet space and natural light, while the updated bathroom showcases stylish finished and clean, modern design. Located just moments away from the Larchmont train station, village shops, restaurants, and parks, this home is a commuter’s dream with the charm of suburban living. Enjoy all that Larchmont has to offer- vibrant dining, waterfront parks, and a true village lifestyle- right outside your door. For additional convenience, laundry room is located on the lower level of the building next door, and a full-time super. Don’t miss this opportunity to own a fully renovated gem!

2. 2026-04-10
   listed $230,000 Active 1067-char remark

   Show marketing remark (1067 chars)

   Welcome to easy, turnkey living in the heart of Larchmont! This beautifully renovated top floor 1 bedroom co-op offers the perfect blend of modern updates and unbeatable convenience. This unit features a sleek, updated kitchen with contemporary cabinetry, new stainless steel appliances, flowing seamlessly into a bright and spacious living area with built in electric fireplace- ideal for both relaxing and entertaining. The generously sized bedroom provides excellent closet space and natural light, while the updated bathroom showcases stylish finished and clean, modern design. Located just moments away from the Larchmont train station, village shops, restaurants, and parks, this home is a commuter’s dream with the charm of suburban living. Enjoy all that Larchmont has to offer- vibrant dining, waterfront parks, and a true village lifestyle- right outside your door. For additional convenience, laundry room is located on the lower level of the building next door, and a full-time super. Don’t miss this opportunity to own a fully renovated gem!

3. 2020-09-14
   soldstatus $155,000 Closed 355-char remark

   Show marketing remark (355 chars)

   Clean neat one bedroom SPONSOR UNIT (NO BOARD APPROVAL) vacant and ready for immediate occupancy. This home is in move in condition and offers a windowed EIK, lots of closets, hardwood floors, courtyard views and double exposures. All this walking distance to the train, playground shops and more.. Additional Information: HeatingFuel:Oil Above Ground,

4. 2020-07-07
   status Active 355-char remark

   Show marketing remark (355 chars)

   Clean neat one bedroom SPONSOR UNIT (NO BOARD APPROVAL) vacant and ready for immediate occupancy. This home is in move in condition and offers a windowed EIK, lots of closets, hardwood floors, courtyard views and double exposures. All this walking distance to the train, playground shops and more.. Additional Information: HeatingFuel:Oil Above Ground,

5. 2020-05-22
   status Pending 355-char remark

   Show marketing remark (355 chars)

   Clean neat one bedroom SPONSOR UNIT (NO BOARD APPROVAL) vacant and ready for immediate occupancy. This home is in move in condition and offers a windowed EIK, lots of closets, hardwood floors, courtyard views and double exposures. All this walking distance to the train, playground shops and more.. Additional Information: HeatingFuel:Oil Above Ground,

6. 2020-04-01
   listed $175,000 Active 355-char remark

   Show marketing remark (355 chars)

   Clean neat one bedroom SPONSOR UNIT (NO BOARD APPROVAL) vacant and ready for immediate occupancy. This home is in move in condition and offers a windowed EIK, lots of closets, hardwood floors, courtyard views and double exposures. All this walking distance to the train, playground shops and more.. Additional Information: HeatingFuel:Oil Above Ground,

ⓘ 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 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,397
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − Depreciation: −$6,691
• Taxable income: $3,039
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $5,790/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: 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 — Larchmont

• Score: 86/100
• State rank: #18
• US rank: #366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Larchmont, NY
• Population (ZIP): 17,709

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 5% Italian 3% Romanian 3%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -535.56%
• Current HPI: 325.1393
• Rent YoY: —
• Metro: —
• 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

+31.4% since first listed

6 events — show timeline

• 2026-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-10 Listed $230,000 OneKey® MLS as Distributed by MLS Grid
• 2020-09-14 Sold (MLS) $155,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-07 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2020-05-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-04-01 Listed $175,000 OneKey® MLS as Distributed by MLS Grid