16 Park Ave · White Plains, NY 10603

$711,000

5 bd · 2.0 ba · 2,098 sqft · MultiFamily public records · 107 Days on market

Built 1924 3,040 sqft lot $339/sqft · 29% below area Est $995k · 29% under

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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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

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Key facts

• Near restaurants
• Near bus station
• Near parks

Tags

• CONVENIENT LOCATION
• NEAR METRO NORTH TRAIN STATION
• NEAR BUS STATION
• NEAR SHOPS
• NEAR RESTAURANTS
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $711k.

Deal economics

• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $630k (11.4% below list).
• Recommended offer: $630k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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.
• Market conditions: 111 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k of loan paydown is wiped out by about $21k 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 107 days — a 9% lower offer ($647k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $89k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $300k; list at $711k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $629,971 (11.4% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.89% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 9.4

CMA / ARV

• ARV (median comp): $994,683
• List price: $711,000
• Delta: -28.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114-116 Ferris Ave	0.38mi	4/2.5 (-1)	2,032 (-3%)	13mo	$749,000	$369	59
63 Grant Ave	0.44mi	4/2.0 (-1)	1,920 (-8%)	5mo	$803,700	$419	56
42 Jefferson Ave	0.73mi	6/2.0 (+1)	2,280 (+9%)	7mo	$730,000	$320	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-63,037
• Equity at exit: $106,012

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $11,258
• Equity at exit: $61,474

Cash invested: $199,080 (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 10603

• Home prices YoY: -24.2%
• Active inventory: 111
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $6,300 medium
• Mortgage (P&I): −$3,729
• Tax from tax record: −$127 /mo · $1,523/yr
• Insurance: −$296
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,323
• Net cashflow: $825

Break-even live

Break-even rent $5,255

Max offer price $711,000

Occupancy floor 82%

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: $177,750
• Closing costs: $21,330
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Terrace Ave White Plains, NY	4.0	2.0	1820	$5,500	$3.02	6d	1	0.33mi
107 Winding Ridge Rd #107 White Plains, NY	4.0	3.5	3000	$7,500	$2.50	24d	1	1.03mi
82 Quinby Ave White Plains, NY	4.0	1.5	2350	$6,000	$2.55	1d	1	1.37mi
172 Lakeview Ave #170 West Harrison, NY	5.0	3.5	3000	$9,200	$3.07	15d	1	1.40mi

Listing history 42 events

1. 2026-06-18
   days on market $711,000 Active 107 DOM
2. 2026-06-17
   days on market $711,000 Active 106 DOM
3. 2026-06-16
   days on market $711,000 Active 105 DOM
4. 2026-06-15
   days on market $711,000 Active 104 DOM
5. 2026-06-13
   days on market $711,000 Active 102 DOM
6. 2026-06-13
   days on market $711,000 Active 101 DOM
7. 2026-06-09
   days on market $711,000 Active 98 DOM
8. 2026-06-08
   days on market $711,000 Active 97 DOM
9. 2026-06-07
   days on market $711,000 Active 96 DOM
10. 2026-06-04
    days on market $711,000 Active 93 DOM
11. 2026-06-03
    days on market $711,000 Active 92 DOM
12. 2026-06-02
    days on market $711,000 Active 91 DOM
13. 2026-06-01
    days on market $711,000 Active 90 DOM
14. 2026-05-31
    days on market $711,000 Active 89 DOM
15. 2026-05-15
    price $711,000 1-char remark

    Show marketing remark (1 chars)

    .

16. 2026-03-11
    price $781,000 1-char remark

    Show marketing remark (1 chars)

    .

17. 2026-03-03
    listed $799,999 Active 1-char remark

    Show marketing remark (1 chars)

    .

18. 2025-03-25
    historical
19. 2024-09-24
    listed $799,000 Active
20. 2020-02-05
    historical
21. 2020-01-15
    status Active
22. 2019-11-06
    historical
23. 2019-11-05
    price $680,000
24. 2019-10-25
    price $590,000
25. 2019-10-04
    listed $599,900 Active
26. 2019-01-05
    historical
27. 2018-12-03
    historical
28. 2018-10-17
    listed $449,900 New
29. 2018-10-10
    listed $449,900 Active
30. 2018-10-09
    soldstatus $300,000
31. 2018-09-29
    soldstatus $300,000 Sold
32. 2018-08-20
    historical Pending
33. 2018-05-23
    price $345,000
34. 2018-05-04
    listed $375,000 Active
35. 2014-01-27
    price $325,000
36. 2004-05-13
    soldstatus $330,100
37. 2004-03-15
    historical
38. 2004-01-13
    soldstatus $330,000
39. 2003-12-17
    historical
40. 2003-11-12
    listed $330,000
41. 2003-09-16
    listed
42. 1999-02-05
    soldstatus $140,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,523 · $127/mo
• Projected year-2 tax: $6,769 · $564/mo
• Expected delta: +$5,247/yr (+$437/mo · 344.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $75,597
• − Mortgage interest: −$39,827
• − Property taxes: −$1,523
• − Insurance: −$3,555
• − Repairs & maintenance: −$6,048
• − Management: −$6,048
• − Depreciation: −$20,684
• Taxable loss: −$2,087
• Est. tax savings @ 24.0%: +$501
• After-tax cash flow: $10,402/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
• City population: 61,281
• Population (ZIP): 19,201

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 0.71)
• Race & ethnicity: Hispanic / Latino 35% White 34% Black 21% Two or more races 13% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 7% Dominican 3%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 33% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 8% 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: ▼ -101.72%
• Current HPI: 317.8177
• 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

+407.9% since first listed

28 events — show timeline

• 2026-05-15 Price Changed $711,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $781,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-03 Listed $799,999 OneKey® MLS as Distributed by MLS Grid
• 2025-03-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-09-24 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2020-02-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-01-15 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2019-11-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-11-05 Price Changed $680,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-25 Price Changed $590,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-04 Listed $599,900 OneKey® MLS as Distributed by MLS Grid
• 2019-01-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-12-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-10-17 Listed $449,900 OneKey® MLS as Distributed by MLS Grid
• 2018-10-10 Listed $449,900 OneKey® MLS as Distributed by MLS Grid
• 2018-10-09 Sold (Public Records) $300,000 Public Records
• 2018-09-29 Sold (MLS) $300,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-20 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-05-23 Price Changed $345,000 OneKey® MLS as Distributed by MLS Grid
• 2018-05-04 Listed $375,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-27 Price Changed $325,000 HGMLS
• 2004-05-13 Sold (Public Records) $330,100 Public Records
• 2004-03-15 Delisted — HGMLS
• 2004-01-13 Sold (MLS) $330,000 HGMLS
• 2003-12-17 Delisted — HGMLS
• 2003-11-12 Listed $330,000 HGMLS
• 2003-09-16 Listed — HGMLS
• 1999-02-05 Sold (Public Records) $140,000 Public Records

Property tax history

-21.0%/yr

Latest (2025): $1,523 · -0.3% YoY. Source: county tax records.