121 North Broadway Unit 21K · White Plains, NY 10603

$280,000

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

Built 1954 Good condition

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to The Sulgrave, a sought-after garden-style cooperative ideally located between North White Plains Metro-North and the vibrant downtown White Plains district. This bright and well-maintained 2-bedroom, 1-bath home offers a spacious and comfortable layout featuring a generous living and dining area, abundant natural light, and ample closet space throughout. Enjoy the convenience of easy access to shopping, dining, entertainment, parks, and transportation, making this an ideal choice for commuters and those seeking a low-maintenance lifestyle. Beautifully landscaped grounds feature a community BBQ and garden area for residents to enjoy. Monthly maintenance includes real estate taxes,

Key facts

• Landscaped grounds
• Ample closet space
• Conveniently located

Tags

• ABUNDANT NATURAL LIGHT
• AMPLE CLOSET SPACE
• LANDSCAPED GROUNDS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Living area reported as 950 sq ft (source: Other)
• Financial info: No investor or income/expense details provided
• HOA & community: Association: The Sulgrave; Association provides landscaping and snow removal; Additional monthly fee of $70.40 (ends 2/29/2028)

Exterior

• Parking: Assigned parking; One parking space; One-car garage; Parking fee of $75
• Security: No specific security features listed
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity connected; Sewer connected; Trash collection (private); Water connected
• Home design: Stock cooperative; One level entry; Two stories in the building
• Construction: Other construction materials; Other foundation details; Not waterfront
• Exterior features: Courtyard; Sidewalks (community)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Bedroom on the first floor
• Flooring: Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Oil heating; Wall/window air conditioning unit(s)
• Interior features: First-floor bedroom; No basement; Outdoor space access (building feature); Five total rooms
• Laundry & utility: No specific washer/dryer listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Cap rate 10.1% 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 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $8k 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 $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,000

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 6.5

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $11,584
• Equity at exit: $41,749

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $83,577
• Equity at exit: $24,209

Cash invested: $78,400 (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: 6.5×

Monthly cashflow live

• Estimated rent: $3,580 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $893

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 70%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Fairview Ave White Plains, NY	3.0	1.5	1100	$3,600	$3.27	44d	1	0.41mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	25d	1	0.45mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$3,240	$4.73	44d	1	0.50mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	44d	1	0.50mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	44d	1	0.53mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	25d	1	0.53mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	44d	1	0.54mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$5,554	$6.31	1d	31	0.55mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	44d	1	0.56mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	21d	1	0.58mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	5d	1	0.58mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	13d	1	0.69mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	22d	2	0.70mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	44d	1	0.71mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	44d	1	0.72mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$6,146	$6.22	1d	28	0.73mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	44d	1	0.74mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	44d	1	0.74mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.75mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	0.79mi
4 Wyndover Woods Ln Unit 12 White Plains, NY	2.0	1.0	925	$2,500	$2.70	44d	1	0.84mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$4,195	$4.82	5d	6	0.85mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$5,064	$5.42	1d	20	0.86mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$4,295	$5.19	2d	12	0.88mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	19d	2	0.90mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.90mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	13d	2	0.90mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	44d	2	0.90mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.91mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$5,355	$5.50	1d	19	0.91mi
16 Edward St Unit 2nd floor West Harrison, NY	2.0	1.0	900	$2,600	$2.89	44d	1	0.92mi
55 Bank St White Plains, NY	2.0	1.0–2.0	861	$5,420	$6.30	1d	23	0.96mi
57 Bank St Unit 1040035P White Plains, NY	2.0	1.0–2.0	726	$9,348	$12.88	3d	3	0.98mi
57 Bank St Unit 1040036P White Plains, NY	1.0	1.0	592	$7,170	$12.11	19d	1	0.98mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	3d	1	0.99mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	3d	1	0.99mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$4,375	$5.03	44d	17	1.02mi
5 Madison St Unit 2R West Harrison, NY	3.0	1.0	950	$3,450	$3.63	44d	1	1.04mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$4,961	$5.46	1d	11	1.05mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	44d	1	1.07mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $280,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $42,963
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,437
• − Management: −$3,437
• − Depreciation: −$8,145
• Taxable income: $6,660
• Est. tax owed @ 24.0%: −$1,598
• After-tax cash flow: $9,123/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom condo is in good condition with a good curb appeal. It has a spacious layout and is located in a desirable area with easy access to shopping, dining, and transportation. The home has potential for further value increases with some cosmetic updates.

Value-add opportunities

• Resale Paint the exterior brick facade — Fresh paint can enhance the curb appeal and make the home look more inviting
• Both Replace the carpet with hardwood flooring — Hardwood flooring can increase both resale and rental value
• Both Install new kitchen appliances — New appliances can make the kitchen more functional and appealing
• Both Paint the interior walls — Fresh paint can make the interior look more modern and inviting

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior brick facade — Fresh paint can enhance the curb appeal and make the home look more inviting ↑
• Both Replace the carpet with hardwood flooring — Hardwood flooring can increase both resale and rental value ↑
• Both Install new kitchen appliances — New appliances can make the kitchen more functional and appealing ↑
• Both Paint the interior walls — Fresh paint can make the interior look more modern and inviting ↑

ⓘ 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: 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

1 event — show timeline

• 2026-06-18 Listed $280,000 OneKey® MLS as Distributed by MLS Grid