16 Lake St Unit 3G · White Plains, NY 10603

$178,000

1 bd · 1.0 ba · 750 sqft · Condo · 185 Days on market

Built 1966

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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 +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

Key facts

• Security cameras
• Open floor plan
• Secure building

Tags

• SECURE BUILDING
• BIKE STORAGE
• ON-SITE LAUNDRY
• SECURITY CAMERAS
• OPEN FLOOR PLAN
• GRANITE COUNTERS

Property features AI

Finance

• HOA & community: Association management: PLImanagement.com; Monthly association fee includes gas, heat, hot water and water

Exterior

• Parking: Assigned garage parking (1 space); Parking fee of $80
• Security: Key card entry
• Utilities: Electricity connected (Con Edison); Natural gas connected; Public sewer; Water connected
• Home design: Stock cooperative; One level unit; Located between 3rd and 5th floors; Actual condition
• Construction: Frame and brick construction
• Exterior features: Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator; Granite counters; Breakfast bar; Open kitchen layout
• Bedrooms: Located on entry level (3rd floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with hot water system; Wall/window air conditioning units
• Interior features: Breakfast bar; Built-in features; Crown molding; Elevator; Granite counters; Open floor plan; Open kitchen
• Laundry & utility: Common area laundry; In-hall laundry; Multiple laundry locations

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $178k).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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.
• Zoned schools: White Plains Middle School (math 36% / reading 53%, grade D, #348 of 729 statewide, top 50%, 1,517 students, 50% FRL); White Plains Senior High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,220 students, 53% FRL).
• Market conditions: 111 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $156,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1966 — 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: 1.72% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.55%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.8%
• Equity multiple: 1.94×
• Total profit: $46,730
• Equity at exit: $26,540

10-year hold

• IRR: 30.8%
• Equity multiple: 3.77×
• Total profit: $138,133
• Equity at exit: $15,390

Cash invested: $49,840 (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: 4.9×

Monthly cashflow live

• Estimated rent: $3,058 high
• Mortgage (P&I): −$933
• Tax est. 1.5%: −$222 /mo · $2,670/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $1,186

Break-even live

Break-even rent $1,557

Max offer price $178,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,309	-5% $1,247	+0% $1,186	+5% $1,124	+10% $1,063
Rent	-10% $944	-5% $1,065	+0% $1,186	+5% $1,307	+10% $1,427
Rate	-1.0pp $1,275	-0.5pp $1,231	base $1,186	+0.5pp $1,140	+1.0pp $1,093

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	45d	1	0.07mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	0d	31	0.11mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	44d	1	0.11mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	14d	1	0.12mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	6d	1	0.12mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	22d	2	0.13mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	44d	1	0.17mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	44d	1	0.18mi
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	5d	1	0.18mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	44d	1	0.18mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	44d	1	0.20mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	14d	1	0.20mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	21d	1	0.20mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	25d	1	0.22mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	16d	1	0.28mi
27 Barker Ave White Plains, NY	2.0	1.0–2.0	1131	$4,144	$3.66	0d	18	0.32mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	19d	1	0.32mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	44d	1	0.32mi
5 Cottage Pl White Plains, NY	—	1.0	577	$2,686	$4.66	14d	1	0.33mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	4d	2	0.36mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$3,900	$4.00	0d	17	0.41mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	25d	1	0.43mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	3d	1	0.45mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	3d	1	0.45mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	44d	17	0.48mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	2d	11	0.49mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	44d	1	0.51mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	44d	1	0.52mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	44d	1	0.54mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	45d	1	0.54mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$4,327	$4.38	0d	25	0.58mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$2,695	$3.09	6d	6	0.61mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	44d	2	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	14d	2	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	19d	2	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	3d	1	0.64mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$2,850	$3.44	2d	12	0.66mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$3,389	$2.61	0d	122	0.66mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$2,715	$2.91	2d	20	0.68mi
16 Edward St Unit 2nd floor West Harrison, NY	2.0	1.0	900	$2,600	$2.89	44d	1	0.69mi

HOA detail condo

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

Listing history 33 events

1. 2026-04-24
   status Pending
2. 2026-03-25
   price $178,000
3. 2026-01-02
   price $185,000
4. 2025-10-21
   listed $189,000 Active
5. 2016-07-22
   soldstatus $130,000 Sold 259-char remark

   Show marketing remark (259 chars)

   Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

6. 2016-07-22
   price $130,000 259-char remark

   Show marketing remark (259 chars)

   Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

7. 2016-07-21
   soldstatus $130,000 259-char remark

   Show marketing remark (259 chars)

   Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

8. 2016-03-21
   historical Pending 259-char remark

   Show marketing remark (259 chars)

   Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

9. 2016-03-21
   price $134,500 259-char remark

   Show marketing remark (259 chars)

   Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

10. 2016-02-23
    price $134,500 259-char remark

    Show marketing remark (259 chars)

    Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

11. 2015-10-22
    listed $136,000 Active 259-char remark

    Show marketing remark (259 chars)

    Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

12. 2015-10-21
    listed $134,500 259-char remark

    Show marketing remark (259 chars)

    Parking Spot with unit, Walking distance to Metro North, 5 Blocks from downtown WP, Renovated Kitchen, Granite counter tops, new appliances, updated bathroom, tons of closet space, California his/her bedroom closet, crown molding, re finished hardwood floors.

13. 2015-10-01
    historical Expired
14. 2015-09-30
    historical
15. 2015-03-27
    listed Active
16. 2015-03-27
    listed $139,000
17. 2014-03-15
    price $115,000
18. 2013-12-21
    historical
19. 2013-12-20
    historical
20. 2013-03-27
    listed Active
21. 2013-03-27
    listed $139,000
22. 2012-07-14
    historical
23. 2012-07-13
    historical
24. 2012-01-13
    listed Active
25. 2012-01-13
    listed $139,999
26. 2008-11-20
    historical
27. 2008-11-20
    soldstatus $115,000
28. 2008-09-02
    price $144,000
29. 2008-01-28
    listed $144,000
30. 2000-03-21
    soldstatus $36,000
31. 2000-02-29
    price $37,500
32. 2000-02-29
    historical
33. 1999-08-29
    listed $36,000

ⓘ 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 4/10 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: $36,698
• − Mortgage interest: −$9,971
• − Property taxes: −$2,670
• − Insurance: −$890
• − Repairs & maintenance: −$2,936
• − Management: −$2,936
• − Depreciation: −$5,178
• Taxable income: $12,118
• Est. tax owed @ 24.0%: −$2,908
• After-tax cash flow: $11,322/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

+394.4% since first listed

33 events — show timeline

• 2026-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $178,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-21 Listed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-22 Price Changed $130,000 HGMLS
• 2016-07-22 Sold (MLS) $130,000 HGMLS
• 2016-07-21 Sold (MLS) $130,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-21 Contingent — HGMLS
• 2016-03-21 Price Changed $134,500 HGMLS
• 2016-02-23 Price Changed $134,500 HGMLS
• 2015-10-22 Listed $136,000 HGMLS
• 2015-10-21 Listed $134,500 OneKey® MLS as Distributed by MLS Grid
• 2015-10-01 Delisted — HGMLS
• 2015-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-03-27 Listed — HGMLS
• 2015-03-27 Listed $139,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $115,000 HGMLS
• 2013-12-21 Delisted — HGMLS
• 2013-12-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-03-27 Listed — HGMLS
• 2013-03-27 Listed $139,000 OneKey® MLS as Distributed by MLS Grid
• 2012-07-14 Delisted — HGMLS
• 2012-07-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-01-13 Listed — HGMLS
• 2012-01-13 Listed $139,999 OneKey® MLS as Distributed by MLS Grid
• 2008-11-20 Sold (MLS) $115,000 HGMLS
• 2008-11-20 Delisted — HGMLS
• 2008-09-02 Price Changed $144,000 HGMLS
• 2008-01-28 Listed $144,000 HGMLS
• 2000-03-21 Sold (MLS) $36,000 HGMLS
• 2000-02-29 Delisted — HGMLS
• 2000-02-29 Price Changed $37,500 HGMLS
• 1999-08-29 Listed $36,000 HGMLS