25 Fieldstone #35 · Armonk, NY 10504

$1,579,000

3 bd · 2.5 ba · 2,681 sqft · SingleFamily · 112 Days on market

Built 2026 Excellent condition 6,286 sqft lot $589/sqft · at area comps Est $1506k · at est. $345/mo HOA · 2% of rent

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Why this score? — see what drove the D 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 +12.5/30.0
• Schools +8.2/10.0
• ARV discount +5.3/15.0
• Condition / age +4.8/5.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover luxury living at Enclave at Armonk by Toll Brothers in esteemed Westchester County. This community is an intimate enclave of two-story townhomes offering luxury features from top brand-name manufacturers such as Kohler fixtures, Century cabinets, stainless steel appliances, and much more. This quick move-in home is a Walters Farmhouse model with the primary bedroom on the first floor. Enjoy open living with an office on the main floor, wood-burning fireplace in great room & upper loft. You can walkout from your great room to a patio and enjoy the lush landscaped views. Home will be ready for late Winter 2026 occupancy. Homeowners will enjoy low-maintenance living with lawn care and snow removal provided. Enclave at Armonk by Toll Brothers is ideally located close to major commuter routes, including 684, I-95, I-287, Merritt Parkway, and Bronx River Parkway. Recreation abounds with direct access to Meyer Preserve and Westmoreland Sanctuary, several public and private golf courses, and more. The terms of the offering are contained in an Offering Plan available from Sponsor.

Key facts

• Kohler fixtures
• Open living
• Two story townhomes

Tags

• TWO STORY TOWNHOMES
• KOHLER FIXTURES
• CENTURY CABINETS
• STAINLESS STEEL APPLIANCES
• PRIMARY BEDROOM ON FIRST FLOOR
• OPEN LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $1.58M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-237 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.54M (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.40M (11.7% below list).
• Recommended offer: $1.40M (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 0.3% in Armonk — 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 67/100 on livability (#597 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities F, commute F, cost of living F.
• Byram Hills Central School District (suburban): math 79% / reading 86% proficiency, ranked #17 of 590 in NY (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Coman Hill School (563 students, 4% FRL); H C Crittenden Middle School (math 77% / reading 85%, grade A+, #24 of 729 statewide, top 3%, 532 students, 0% FRL); Byram Hills High School (math 77% / reading 95%, grade A, #347 of 1,100 statewide, top 32%, 710 students, 0% FRL) — zoned schools at 1% FRL track the district average.
• Market conditions: 111 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $11k of loan paydown is wiped out by about $47k 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 112 days — a 9% lower offer ($1.44M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,395,000 (11.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

• ARV (median comp): $1,506,292
• List price: $1,579,000
• Delta: 4.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Birdsall Farm Dr	0.43mi	3/2.5	2,715 (+1%)	7mo	$1,500,000	$552	72
6 Holly Knls	0.37mi	3/3.5	2,913 (+9%)	2mo	$1,329,000	$456	63
30 Agnew Farm Rd	0.27mi	3/2.5	2,300 (-14%)	7mo	$1,305,000	$567	58
27 Annadale St	0.17mi	4/4.0 (+1)	2,953 (+10%)	11mo	$950,000	$322	55
7 Caruso Pl	0.34mi	3/3.5	3,080 (+15%)	2mo	$1,462,000	$475	54
12 Kavey Ln	0.68mi	4/2.5 (+1)	2,722 (+2%)	11mo	$1,401,000	$515	52
3 Limestone Rd	0.69mi	2/2.0 (-1)	2,583 (-4%)	17mo	$800,000	$310	41
12 Wampus Ave	0.45mi	4/2.5 (+1)	2,444 (-9%)	23mo	$1,277,777	$523	40
10 Anthony Ct	0.55mi	4/2.5 (+1)	3,056 (+14%)	17mo	$1,250,000	$409	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-270,513
• Equity at exit: $235,434

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-253,247
• Equity at exit: $136,523

Cash invested: $442,120 (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 10504

• Active inventory: 111
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $13,950 medium
• Mortgage (P&I): −$8,280
• Tax est. 1.5%: −$1,974 /mo · $23,685/yr
• Insurance: −$658
• HOA: −$345
• Vacancy / Maint / Mgmt: −$2,930
• Net cashflow: $-237

Break-even live

Break-even rent $14,250

Max offer price $1,544,762

Occupancy floor 97%

Sensitivity live

Price	-10% $855	-5% $309	+0% $-237	+5% $-782	+10% $-1,328
Rent	-10% $-1,339	-5% $-788	+0% $-237	+5% $314	+10% $865
Rate	-1.0pp $559	-0.5pp $165	base $-237	+0.5pp $-646	+1.0pp $-1,062

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: $394,750
• Closing costs: $47,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 Whippoorwill Rd Armonk, NY	4.0	4.5	3556	$13,950	$3.92	45d	1	1.11mi

HOA detail

• Monthly dues: $345 · $4,140/yr
• Likely covers: landscapingsnow removal

Listing history 17 events

1. 2026-06-21
   days on market $1,579,000 Active 112 DOM
2. 2026-06-18
   days on market $1,579,000 Active 109 DOM
3. 2026-06-17
   pricedays on market $1,579,000 Active 108 DOM
4. 2026-06-16
   days on market $1,559,000 Active 107 DOM
5. 2026-06-15
   days on market $1,559,000 Active 106 DOM
6. 2026-06-13
   days on market $1,559,000 Active 104 DOM
7. 2026-06-13
   days on market $1,559,000 Active 103 DOM
8. 2026-06-09
   days on market $1,559,000 Active 100 DOM
9. 2026-06-08
   days on market $1,559,000 Active 99 DOM
10. 2026-06-07
    days on market $1,559,000 Active 98 DOM
11. 2026-06-04
    days on market $1,559,000 Active 95 DOM
12. 2026-06-03
    days on market $1,559,000 Active 94 DOM
13. 2026-06-02
    days on market $1,559,000 Active 93 DOM
14. 2026-06-01
    days on market $1,559,000 Active 92 DOM
15. 2026-05-31
    days on market $1,559,000 Active 91 DOM
16. 2026-04-27
    price $1,559,000 1108-char remark

    Show marketing remark (1108 chars)

    Discover luxury living at Enclave at Armonk by Toll Brothers in esteemed Westchester County. This community is an intimate enclave of two-story townhomes offering luxury features from top brand-name manufacturers such as Kohler fixtures, Century cabinets, stainless steel appliances, and much more. This quick move-in home is a Walters Farmhouse model with the primary bedroom on the first floor. Enjoy open living with an office on the main floor, wood-burning fireplace in great room & upper loft. You can walkout from your great room to a patio and enjoy the lush landscaped views. Home will be ready for late Winter 2026 occupancy. Homeowners will enjoy low-maintenance living with lawn care and snow removal provided. Enclave at Armonk by Toll Brothers is ideally located close to major commuter routes, including 684, I-95, I-287, Merritt Parkway, and Bronx River Parkway. Recreation abounds with direct access to Meyer Preserve and Westmoreland Sanctuary, several public and private golf courses, and more. The terms of the offering are contained in an Offering Plan available from Sponsor.

17. 2026-03-01
    listed $1,539,000 Active 1108-char remark

    Show marketing remark (1108 chars)

    Discover luxury living at Enclave at Armonk by Toll Brothers in esteemed Westchester County. This community is an intimate enclave of two-story townhomes offering luxury features from top brand-name manufacturers such as Kohler fixtures, Century cabinets, stainless steel appliances, and much more. This quick move-in home is a Walters Farmhouse model with the primary bedroom on the first floor. Enjoy open living with an office on the main floor, wood-burning fireplace in great room & upper loft. You can walkout from your great room to a patio and enjoy the lush landscaped views. Home will be ready for late Winter 2026 occupancy. Homeowners will enjoy low-maintenance living with lawn care and snow removal provided. Enclave at Armonk by Toll Brothers is ideally located close to major commuter routes, including 684, I-95, I-287, Merritt Parkway, and Bronx River Parkway. Recreation abounds with direct access to Meyer Preserve and Westmoreland Sanctuary, several public and private golf courses, and more. The terms of the offering are contained in an Offering Plan available from Sponsor.

ⓘ 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: $167,400
• − Mortgage interest: −$88,449
• − Property taxes: −$23,685
• − Insurance: −$7,895
• − Repairs & maintenance: −$13,392
• − Management: −$13,392
• − HOA: −$4,140
• − Depreciation: −$45,935
• Taxable loss: −$29,487
• Est. tax savings @ 24.0%: +$7,077
• After-tax cash flow: $4,238/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

Excellent 95/100 None rehab

This move-in-ready townhome offers luxury features and is in excellent condition, ready for immediate occupancy.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Kitchen appliances — Modern appliances improve functionality and aesthetics
• Both Bedroom furniture — Fresh furniture enhances comfort and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Kitchen appliances — Modern appliances improve functionality and aesthetics ↑
• Both Bedroom furniture — Fresh furniture enhances comfort and 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: Byram Hills Central School District
• NCES district ID: 3606060
• Math proficiency: 79% ▼ -7.00%
• Reading proficiency: 86% ▲ 6.00%
• Median HH income: $178,843
• Composite: 82.02/100
• National rank: #36
• State rank: #17 of 590 in NY

Livability — Armonk

• Score: 67/100
• State rank: #597
• US rank: #10849

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Armonk, NY
• City population: 7,853
• Population (ZIP): 7,853

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Two or more races 8% Asian 8% Black 2%
• Hispanic origin (detail): Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 4% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 6% Other Indo-European 4% Chinese 3%

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: ▼ -370.07%
• Current HPI: 212.7572
• 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

+1.3% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $1,559,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-01 Listed $1,539,000 OneKey® MLS as Distributed by MLS Grid