2200 Palmer Ave Unit 4M · New Rochelle, NY 10801

$249,900

1 bd · 1.0 ba · 750 sqft · Condo · 186 Days on market

Built 1950 Good condition $333/sqft · 26% above area Est $199k · 26% over

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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 +22.7/30.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Schools +5.7/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This bright and spacious commuter’s dream offers everything you could want in a New York apartment! Thoughtfully upgraded, this unit features brand-new carpeting throughout with HOA-compliant soundproof underlay, creating a quiet and comfortable living environment. The bedroom showcases a custom accent feature wall, adding a stylish focal point. Enjoy peace of mind with numerous recent upgrades, including new entryway tiles, modern light fixtures throughout, updated fire/carbon monoxide detector, window A/C units, a new intercom system, a Samsung Frame Smart TV, and a solar-powered bathroom fan. The bathroom was refreshed in 2024. The fully renovated kitchen is a standout, designed for both style and functionality. It boasts brand-new Samsung smart appliances, including a Family Hub refrigerator and full size dishwasher, a touchless faucet, smart under-cabinet lighting, pull-out trash storage, a charming coffee nook, built-in wine rack, and a spacious pantry with broom storage. A custom kitchen island with seating completes the space—perfect for casual dining and entertaining. Additional highlights include abundant storage throughout the unit, a dedicated basement storage unit (waitlist), and convenient on-site laundry with entrance near the mailboxes. Residents can also enjoy an outdoor grassy area ideal for grilling and relaxing. Monthly maintenance includes heat & water. This cozy yet sophisticated unit offers the perfect blend of comfort, convenience, and modern living—just a short walk to shops, restaurants, and transportation, including the Larchmont train station. A rare opportunity not to be missed!

Key facts

• Brand-new carpeting
• Short walk to shops
• Garage

Tags

• BRAND-NEW CARPETING
• SHORT WALK TO SHOPS
• SHORT WALK TO RESTAURANTS
• SHORT WALK TO TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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 $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 186 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $200k; 25% 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 $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $198,862
• List price: $249,900
• Delta: 25.66%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-17,411
• Equity at exit: $37,261

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,197
• Equity at exit: $21,607

Cash invested: $69,972 (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: 7.6×

Monthly cashflow live

• Estimated rent: $2,729 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $429

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 79%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Lester Pl Unit 1 Larchmont, NY	2.0	1.0	850	$3,200	$3.76	24d	1	0.41mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.48mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	43d	1	0.49mi
1833 Palmer Ave Unit 3K Larchmont, NY	2.0	1.0	875	$2,700	$3.09	43d	1	0.75mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	43d	1	0.86mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	17d	1	0.91mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,094	$3.91	1d	11	1.13mi
600 North Ave New Rochelle, NY	2.0	1.0–2.0	869	$3,422	$3.94	2d	11	1.15mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	43d	1	1.22mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	10d	10	1.34mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$3,764	$5.08	1d	14	1.35mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	1.38mi
4 Larchmont Acres Unit 4C Larchmont, NY	2.0	1.0	1074	$2,985	$2.78	24d	1	1.39mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,922	$3.26	2d	31	1.41mi
314 Larchmont Acres Unit 4C Mamaroneck, NY	2.0	1.0	1074	$2,985	$2.78	24d	1	1.42mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	43d	1	1.43mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,536	$4.59	2d	50	1.48mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,158	$3.44	1d	51	1.49mi

HOA detail condo

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

Listing history 6 events

1. 2026-05-09
   status Pending 1657-char remark

   Show marketing remark (1657 chars)

   This bright and spacious commuter’s dream offers everything you could want in a New York apartment! Thoughtfully upgraded, this unit features brand-new carpeting throughout with HOA-compliant soundproof underlay, creating a quiet and comfortable living environment. The bedroom showcases a custom accent feature wall, adding a stylish focal point. Enjoy peace of mind with numerous recent upgrades, including new entryway tiles, modern light fixtures throughout, updated fire/carbon monoxide detector, window A/C units, a new intercom system, a Samsung Frame Smart TV, and a solar-powered bathroom fan. The bathroom was refreshed in 2024. The fully renovated kitchen is a standout, designed for both style and functionality. It boasts brand-new Samsung smart appliances, including a Family Hub refrigerator and full size dishwasher, a touchless faucet, smart under-cabinet lighting, pull-out trash storage, a charming coffee nook, built-in wine rack, and a spacious pantry with broom storage. A custom kitchen island with seating completes the space—perfect for casual dining and entertaining. Additional highlights include abundant storage throughout the unit, a dedicated basement storage unit (waitlist), and convenient on-site laundry with entrance near the mailboxes. Residents can also enjoy an outdoor grassy area ideal for grilling and relaxing. Monthly maintenance includes heat & water. This cozy yet sophisticated unit offers the perfect blend of comfort, convenience, and modern living—just a short walk to shops, restaurants, and transportation, including the Larchmont train station. A rare opportunity not to be missed!

2. 2026-03-10
   price $249,900 1657-char remark

   Show marketing remark (1657 chars)

   This bright and spacious commuter’s dream offers everything you could want in a New York apartment! Thoughtfully upgraded, this unit features brand-new carpeting throughout with HOA-compliant soundproof underlay, creating a quiet and comfortable living environment. The bedroom showcases a custom accent feature wall, adding a stylish focal point. Enjoy peace of mind with numerous recent upgrades, including new entryway tiles, modern light fixtures throughout, updated fire/carbon monoxide detector, window A/C units, a new intercom system, a Samsung Frame Smart TV, and a solar-powered bathroom fan. The bathroom was refreshed in 2024. The fully renovated kitchen is a standout, designed for both style and functionality. It boasts brand-new Samsung smart appliances, including a Family Hub refrigerator and full size dishwasher, a touchless faucet, smart under-cabinet lighting, pull-out trash storage, a charming coffee nook, built-in wine rack, and a spacious pantry with broom storage. A custom kitchen island with seating completes the space—perfect for casual dining and entertaining. Additional highlights include abundant storage throughout the unit, a dedicated basement storage unit (waitlist), and convenient on-site laundry with entrance near the mailboxes. Residents can also enjoy an outdoor grassy area ideal for grilling and relaxing. Monthly maintenance includes heat & water. This cozy yet sophisticated unit offers the perfect blend of comfort, convenience, and modern living—just a short walk to shops, restaurants, and transportation, including the Larchmont train station. A rare opportunity not to be missed!

3. 2025-10-28
   listed $259,900 Active 1657-char remark

   Show marketing remark (1657 chars)

   This bright and spacious commuter’s dream offers everything you could want in a New York apartment! Thoughtfully upgraded, this unit features brand-new carpeting throughout with HOA-compliant soundproof underlay, creating a quiet and comfortable living environment. The bedroom showcases a custom accent feature wall, adding a stylish focal point. Enjoy peace of mind with numerous recent upgrades, including new entryway tiles, modern light fixtures throughout, updated fire/carbon monoxide detector, window A/C units, a new intercom system, a Samsung Frame Smart TV, and a solar-powered bathroom fan. The bathroom was refreshed in 2024. The fully renovated kitchen is a standout, designed for both style and functionality. It boasts brand-new Samsung smart appliances, including a Family Hub refrigerator and full size dishwasher, a touchless faucet, smart under-cabinet lighting, pull-out trash storage, a charming coffee nook, built-in wine rack, and a spacious pantry with broom storage. A custom kitchen island with seating completes the space—perfect for casual dining and entertaining. Additional highlights include abundant storage throughout the unit, a dedicated basement storage unit (waitlist), and convenient on-site laundry with entrance near the mailboxes. Residents can also enjoy an outdoor grassy area ideal for grilling and relaxing. Monthly maintenance includes heat & water. This cozy yet sophisticated unit offers the perfect blend of comfort, convenience, and modern living—just a short walk to shops, restaurants, and transportation, including the Larchmont train station. A rare opportunity not to be missed!

4. 2024-08-26
   soldstatus $200,000 Closed 646-char remark

   Show marketing remark (646 chars)

   Welcome to Palmer Terrace, a lovely tree lined collection of 2 story coop apartments conveniently located for Larchmont and New Rochelle. Gleaming wood floors throughout and a renovated hall bathroom with plentiful storage make this second floor apartment a wise choice for the discerning buyer. This is a spacious home with excellent natural light throughout and is complemented by an onsite laundry and storage area. Convenient for highways and rail travel and close to stores and local eateries make this a perfect location for any buyer. Additional Information: Amenities:Storage,Windowed Bath,Windowed Kitchen,HeatingFuel:Oil Above Ground,

5. 2024-06-11
   status Pending 646-char remark

   Show marketing remark (646 chars)

   Welcome to Palmer Terrace, a lovely tree lined collection of 2 story coop apartments conveniently located for Larchmont and New Rochelle. Gleaming wood floors throughout and a renovated hall bathroom with plentiful storage make this second floor apartment a wise choice for the discerning buyer. This is a spacious home with excellent natural light throughout and is complemented by an onsite laundry and storage area. Convenient for highways and rail travel and close to stores and local eateries make this a perfect location for any buyer. Additional Information: Amenities:Storage,Windowed Bath,Windowed Kitchen,HeatingFuel:Oil Above Ground,

6. 2024-05-03
   listed $199,000 Active 646-char remark

   Show marketing remark (646 chars)

   Welcome to Palmer Terrace, a lovely tree lined collection of 2 story coop apartments conveniently located for Larchmont and New Rochelle. Gleaming wood floors throughout and a renovated hall bathroom with plentiful storage make this second floor apartment a wise choice for the discerning buyer. This is a spacious home with excellent natural light throughout and is complemented by an onsite laundry and storage area. Convenient for highways and rail travel and close to stores and local eateries make this a perfect location for any buyer. Additional Information: Amenities:Storage,Windowed Bath,Windowed Kitchen,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 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $32,747
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$7,270
• Taxable income: $1,241
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $4,848/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 · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo offers a good condition with a modern kitchen and a solar-powered bathroom fan. Consider painting the exterior and installing smart home devices to further enhance its value.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and resale value.
• Both Replace the solar-powered bathroom fan — Improves air quality and reduces energy costs.
• Both Install smart home devices — Enhances convenience and adds modern features for both resale and rental appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and resale value. ↑
• Both Replace the solar-powered bathroom fan — Improves air quality and reduces energy costs. ↑
• Both Install smart home devices — Enhances convenience and adds modern features for both resale and rental appeal. ↑

ⓘ 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

+25.6% since first listed

6 events — show timeline

• 2026-05-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $249,900 OneKey® MLS as Distributed by MLS Grid
• 2025-10-28 Listed $259,900 OneKey® MLS as Distributed by MLS Grid
• 2024-08-26 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-03 Listed $199,000 OneKey® MLS as Distributed by MLS Grid