70 Locust Ave Unit B603 · New Rochelle, NY 10801

$219,000

2 bd · 1.0 ba · 1,098 sqft · Condo · 141 Days on market

Built 1955 Good condition $199/sqft · at area comps Est $229k · at est.

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• Schools +5.7/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 70 Locust Avenue Unit #B603, a two bedroom- one bath co-op in the heart of downtown New Rochelle. Two elevator building with indoor parking (waitlisted), and two exterior parking lots. This unit includes hardwood floors throughout the apartment. Spacious living/ dining area allows for great entertainment or work from home. Recent building improvements includes a renovated lobby and hallways, updated laundry room. Come see the sunset from your living room or bedroom windows. Conveniently located in the downtown New Rochelle, easy access to Metro-North train station, buses, restaurants, shopping, parks, library and highways.

Key facts

• Renovated lobby
• Sunset views
• Updated laundry room

Tags

• HARDWOOD FLOORS
• RENOVATED LOBBY
• UPDATED LAUNDRY ROOM
• SUNSET VIEWS
• EASY ACCESS TO METRO-NORTH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $219k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).
• At $3,305/mo this rent would consume 46% of the median local household income ($86k/yr) (locally 2797% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $61k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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 1955 — 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: 1.51% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.48%
• DSCR: 1.96
• GRM: 5.5

CMA / ARV

• ARV (median comp): $229,312
• List price: $219,000
• Delta: -4.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.3%
• Equity multiple: 1.48×
• Total profit: $29,310
• Equity at exit: $32,654

10-year hold

• IRR: 19.9%
• Equity multiple: 2.55×
• Total profit: $95,195
• Equity at exit: $18,935

Cash invested: $61,320 (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: 5.5×

Monthly cashflow live

• Estimated rent: $3,305 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $1,098

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,249	-5% $1,174	+0% $1,098	+5% $1,022	+10% $946
Rent	-10% $837	-5% $967	+0% $1,098	+5% $1,228	+10% $1,359
Rate	-1.0pp $1,208	-0.5pp $1,154	base $1,098	+0.5pp $1,041	+1.0pp $983

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	0.09mi
25 Acacia Ter Unit 1 New Rochelle, NY	3.0	2.0	1400	$3,800	$2.71	44d	1	0.17mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$7,811	$9.25	2d	31	0.23mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$5,113	$6.90	2d	14	0.24mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	4d	1	0.24mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$4,540	$5.90	3d	50	0.24mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$5,214	$5.73	2d	28	0.25mi
25 Leroy Pl #1 New Rochelle, NY	2.0	2.5	1420	$3,995	$2.81	8d	1	0.31mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	821	$2,099	$2.56	7d	1	0.33mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$4,192	$4.57	2d	51	0.35mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	16d	1	0.35mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$3,631	$4.05	3d	31	0.38mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$3,987	$5.07	2d	17	0.40mi
175 Huguenot St #1402 New Rochelle, NY	2.0	2.5	1475	$4,750	$3.22	25d	1	0.40mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	8d	1	0.43mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,595	$3.01	2d	2	0.43mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,595	$2.88	12d	2	0.43mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$4,625	$4.68	6d	8	0.43mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$3,780	$4.94	2d	15	0.43mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$4,785	$5.61	3d	12	0.44mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,897	$5.21	5d	12	0.45mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,812	$4.81	2d	11	0.46mi
230 Pelham Rd Unit 6F New Rochelle, NY	1.0	1.0	800	$1,995	$2.49	44d	1	0.46mi
379 Huguenot St Unit 2 New Rochelle, NY	3.0	1.0	1150	$3,200	$2.78	25d	1	0.47mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$3,575	$4.75	5d	6	0.48mi
48 Lincoln St New Rochelle, NY	2.0	1.0	1273	$3,000	$2.36	19d	1	0.49mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	18d	1	0.51mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	11d	10	0.53mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	44d	1	0.55mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	44d	1	0.62mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	44d	1	0.80mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	8d	1	0.85mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	21d	1	0.88mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	18d	1	0.93mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	44d	1	0.94mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.95mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	44d	1	0.95mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	14d	1	0.95mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	5d	1	1.00mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	3d	1	1.00mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $219,000 Active 141 DOM
2. 2026-06-17
   days on market $219,000 Active 140 DOM
3. 2026-06-16
   days on market $219,000 Active 139 DOM
4. 2026-06-15
   days on market $219,000 Active 138 DOM
5. 2026-06-13
   days on market $219,000 Active 136 DOM
6. 2026-06-09
   days on market $219,000 Active 132 DOM
7. 2026-06-08
   days on market $219,000 Active 131 DOM
8. 2026-06-07
   days on market $219,000 Active 130 DOM
9. 2026-06-04
   days on market $219,000 Active 127 DOM
10. 2026-06-03
    days on market $219,000 Active 126 DOM
11. 2026-06-02
    days on market $219,000 Active 125 DOM
12. 2026-06-01
    days on market $219,000 Active 124 DOM
13. 2026-05-31
    days on market $219,000 Active 123 DOM
14. 2026-01-28
    listed $219,000 Active 641-char remark

    Show marketing remark (641 chars)

    Welcome to 70 Locust Avenue Unit #B603, a two bedroom- one bath co-op in the heart of downtown New Rochelle. Two elevator building with indoor parking (waitlisted), and two exterior parking lots. This unit includes hardwood floors throughout the apartment. Spacious living/ dining area allows for great entertainment or work from home. Recent building improvements includes a renovated lobby and hallways, updated laundry room. Come see the sunset from your living room or bedroom windows. Conveniently located in the downtown New Rochelle, easy access to Metro-North train station, buses, restaurants, shopping, parks, library and highways.

ⓘ 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 · 15 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: $39,665
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,173
• − Management: −$3,173
• − Depreciation: −$6,371
• Taxable income: $10,300
• Est. tax owed @ 24.0%: −$2,472
• After-tax cash flow: $10,702/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 · 12 photos

Good 75/100 Cosmetic rehab

This two-bedroom co-op unit in New Rochelle is in good condition with recent improvements. It offers hardwood floors, fresh paint, and a well-maintained exterior. Minor updates like paint touch-ups and lighting upgrades can further enhance its value.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Lighting upgrades — Modern lighting can improve the home's ambiance and value
• Both Flooring refinishing — Refinishing hardwood floors can add value and improve appearance
• Both Window treatments — New window treatments can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Lighting upgrades — Modern lighting can improve the home's ambiance and value ↑
• Both Flooring refinishing — Refinishing hardwood floors can add value and improve appearance ↑
• Both Window treatments — New window treatments can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value ↑

ⓘ 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

1 event — show timeline

• 2026-01-28 Listed $219,000 OneKey® MLS as Distributed by MLS Grid