2303 Palmer Ave Unit F · New Rochelle, NY 10801

$235,000

1 bd · 1.0 ba · 950 sqft · Condo · 99 Days on market

Built 1958 ↓ 33% since listing

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Must see this fresh and spacious coop ready for it's new owner. This Jr 4 unit is finished to perfection, with gleaming hardwood floors, newly refinished, new paneled doors and hardware, fresh paint done by a craftsman, new LED recessed lighting and beautiful crown molding throughout. You'll fall in love with this pristine complex, conveniently located to downtown New Rochelle and Larchmont Village, couldn't ask for a better spot. Assigned on-site parking. Pet friendly. Immaculate brick exterior, refreshed lobby. Entry foyer w/ closet and large dining area, large living room, den, renovated custom eat-in kitchen w/ wood cabinets/plenty of storage and counter prep space and seating. Generous

Key facts

• New paneled doors
• Fresh paint
• Crown molding

Tags

• HARDWOOD FLOORS
• NEW PANELED DOORS
• FRESH PAINT
• NEW LED RECESSED LIGHTING
• CROWN MOLDING
• ASSIGNED ON-SITE PARKING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Trinity Elementary School (math 40% / reading 47%, grade F, #1,350 of 2,108 statewide, top 64%, 863 students, 66% 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 67% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 39% 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 99 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $213,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.16%
• DSCR: 1.45
• GRM: 7.1

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-11,070
• Equity at exit: $35,039

10-year hold

• IRR: 3.1%
• Equity multiple: 1.21×
• Total profit: $13,757
• Equity at exit: $20,319

Cash invested: $65,800 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,761 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $491

Break-even live

Break-even rent $2,140

Max offer price $235,000

Occupancy floor 77%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 29 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	0.27mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	44d	1	0.28mi
5 Lester Pl Unit 1 Larchmont, NY	2.0	1.0	850	$3,200	$3.76	25d	1	0.62mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	44d	1	0.67mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	18d	1	0.72mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,094	$3.91	1d	11	0.90mi
600 North Ave New Rochelle, NY	2.0	1.0–2.0	869	$3,422	$3.94	2d	11	0.92mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	44d	1	0.97mi
1833 Palmer Ave Unit 3K Larchmont, NY	2.0	1.0	875	$2,700	$3.09	44d	1	1.00mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	10d	10	1.10mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$3,764	$5.08	1d	14	1.13mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,922	$3.26	3d	31	1.17mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	1.18mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	44d	1	1.18mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,536	$4.59	3d	50	1.26mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,158	$3.44	1d	51	1.26mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	21d	1	1.27mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$3,721	$4.09	1d	28	1.31mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	15d	1	1.33mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	1d	31	1.33mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	5d	8	1.34mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	821	$2,099	$2.56	6d	1	1.37mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	3d	12	1.38mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	3d	1	1.42mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	44d	1	1.43mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$2,945	$3.85	2d	15	1.43mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	44d	1	1.46mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$2,847	$3.62	1d	17	1.47mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	5d	6	1.48mi

HOA detail condo

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

Listing history 7 events

1. 2026-03-06
   status Pending
2. 2025-11-24
   listed $235,000 Active
3. 2025-11-24
   historical
4. 2025-09-29
   price $285,000
5. 2025-09-13
   price $299,000
6. 2025-07-21
   price $325,000
7. 2025-04-04
   listed $349,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 78% 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: $33,131
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,972
• − Repairs & maintenance: −$2,650
• − Management: −$2,650
• − Depreciation: −$6,836
• Taxable income: $2,333
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $5,328/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

-32.7% since first listed

7 events — show timeline

• 2026-03-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-24 Listed $235,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $285,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-13 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-04 Listed $349,000 OneKey® MLS as Distributed by MLS Grid