2261 Palmer Ave Unit 2A · New Rochelle, NY 10801

$173,500

1 bd · 1.0 ba · 700 sqft · Condo · 348 Days on market

Built 1968 $248/sqft · 13% below area Est $199k · 13% under

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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).

• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• Cash flow +8.2/30.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

Key facts

• Large living area
• Serene bathroom
• Soaking tub

Tags

• LARGE LIVING AREA
• SERENE BATHROOM
• SOAKING TUB
• DORCHESTER BUILDING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $174k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $174k).
• Recommended offer: $153k (12.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising (+1.4%/yr); 141 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).
• This rent runs 38% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 348 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $52k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $107k; list at $174k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 41% of rent.
• Climate carrying-cost: severe flood risk; 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 $152,680 (12.0% 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 348 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.58% ✓
• Cap rate: 5.17%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 5.3

CMA / ARV

• ARV (median comp): $199,453
• List price: $173,500
• Delta: -13.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -29.2%
• Equity multiple: 0.05×
• Total profit: $-46,154
• Equity at exit: $25,869

10-year hold

• IRR: -48.4%
• Equity multiple: -0.50×
• Total profit: $-72,779
• Equity at exit: $15,001

Cash invested: $48,580 (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: 141
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,735 high
• Mortgage (P&I): −$910
• Tax est. 1.5%: −$217 /mo · $2,602/yr
• Insurance: −$72
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,123
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-228

Break-even live

Break-even rent $3,023

Max offer price $140,484

Occupancy floor —

Sensitivity live

Price	-10% $-108	-5% $-168	+0% $-228	+5% $-288	+10% $-348
Rent	-10% $-444	-5% $-336	+0% $-228	+5% $-120	+10% $-12
Rate	-1.0pp $-141	-0.5pp $-184	base $-228	+0.5pp $-273	+1.0pp $-319

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: $43,375
• Closing costs: $5,205
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.37mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	18d	1	0.81mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	739	$2,952	$3.99	0d	9	1.02mi
600 North Ave New Rochelle, NY	2.0	1.0–2.0	869	$3,422	$3.94	0d	10	1.03mi
50 Lecount Pl New Rochelle, NY	1.0	1.0	534	$2,450	$4.59	0d	1	1.17mi
11 Burling Ln New Rochelle, NY	—	1.0	516	$2,250	$4.36	21d	9	1.18mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	11d	10	1.22mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	826	$3,795	$4.59	0d	14	1.24mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	1.28mi
1 Shearwood Pl New Rochelle, NY	2.0	1.0–2.0	818	$3,160	$3.86	0d	29	1.29mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	44d	1	1.30mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,548	$4.61	0d	49	1.37mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$2,933	$3.20	0d	50	1.37mi
55 Clinton Pl New Rochelle, NY	3.0	1.0–2.0	991	$3,734	$3.77	0d	24	1.42mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	0d	33	1.44mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	728	$2,099	$2.88	0d	1	1.45mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	0d	9	1.46mi
95 Washington Ave Unit 1R New Rochelle, NY	—	1.0	400	$1,700	$4.25	25d	1	1.48mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	0d	11	1.50mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-21
   days on market $173,500 Active 348 DOM
2. 2026-06-18
   days on market $173,500 Active 345 DOM
3. 2026-06-17
   days on market $173,500 Active 344 DOM
4. 2026-06-16
   days on market $173,500 Active 343 DOM
5. 2026-06-15
   price $173,500 Active 342 DOM
6. 2026-06-15
   days on market $199,000 Active 342 DOM
7. 2026-06-13
   days on market $199,000 Active 340 DOM
8. 2026-06-09
   days on market $199,000 Active 336 DOM
9. 2026-06-08
   days on market $199,000 Active 335 DOM
10. 2026-06-07
    days on market $199,000 Active 334 DOM
11. 2026-06-04
    days on market $199,000 Active 331 DOM
12. 2026-06-03
    days on market $199,000 Active 330 DOM
13. 2026-06-02
    days on market $199,000 Active 329 DOM
14. 2026-06-01
    days on market $199,000 Active 328 DOM
15. 2026-05-31
    days on market $199,000 Active 327 DOM
16. 2026-01-10
    status Active 425-char remark

    Show marketing remark (425 chars)

    Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

17. 2026-01-08
    historical 425-char remark

    Show marketing remark (425 chars)

    Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

18. 2025-08-12
    price $199,000 425-char remark

    Show marketing remark (425 chars)

    Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

19. 2025-07-27
    price $205,000 425-char remark

    Show marketing remark (425 chars)

    Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

20. 2025-07-07
    listed $225,000 Active 425-char remark

    Show marketing remark (425 chars)

    Discover the opportunity to make this one bedroom co-op your own! Featuring a generous layout with plenty of natural light, this unit offers a large living area, perfect for relaxing or entertaining. The stand-up feature is the serene bathroom with a soaking tub – ideal for unwinding after a long day. Located in the desired Dorchester building, this presents a fantastic canvas for customization and personal touches!

21. 2018-04-04
    soldstatus $107,000 Sold 525-char remark

    Show marketing remark (525 chars)

    Bright one bedroom unit with large living room, dining area, kitchen and spacious bedroom w/ample closets and an updated hall bath. Hardwood floors as seen. Complex offers laundry on first floor, an exercise room and sauna, in-ground pool, BBQ picnic area and is PET FRIENDLY!!! Each unit has assigned parking and there is also additional visitor parking. Close to all transportation - I-95, Metro North, and bus. Less than a half a mile from the village of Larchmont. Additional Information: HeatingFuel:Oil Above Ground,

22. 2017-11-03
    historical Pending 525-char remark

    Show marketing remark (525 chars)

    Bright one bedroom unit with large living room, dining area, kitchen and spacious bedroom w/ample closets and an updated hall bath. Hardwood floors as seen. Complex offers laundry on first floor, an exercise room and sauna, in-ground pool, BBQ picnic area and is PET FRIENDLY!!! Each unit has assigned parking and there is also additional visitor parking. Close to all transportation - I-95, Metro North, and bus. Less than a half a mile from the village of Larchmont. Additional Information: HeatingFuel:Oil Above Ground,

23. 2017-09-22
    listed $125,000 Active 525-char remark

    Show marketing remark (525 chars)

    Bright one bedroom unit with large living room, dining area, kitchen and spacious bedroom w/ample closets and an updated hall bath. Hardwood floors as seen. Complex offers laundry on first floor, an exercise room and sauna, in-ground pool, BBQ picnic area and is PET FRIENDLY!!! Each unit has assigned parking and there is also additional visitor parking. Close to all transportation - I-95, Metro North, and bus. Less than a half a mile from the village of Larchmont. 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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $32,815
• − Mortgage interest: −$9,719
• − Property taxes: −$2,602
• − Insurance: −$1,665
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − HOA: −$13,476
• − Depreciation: −$5,047
• Taxable loss: −$4,945
• Est. tax savings @ 24.0%: +$1,187
• After-tax cash flow: $-1,551/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): 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

+59.2% since first listed

8 events — show timeline

• 2026-01-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-08 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-27 Price Changed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-07 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2018-04-04 Sold (MLS) $107,000 OneKey® MLS as Distributed by MLS Grid
• 2017-11-03 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-09-22 Listed $125,000 OneKey® MLS as Distributed by MLS Grid