16 Lake St Unit 6A · White Plains, NY 10603

$265,000

2 bd · 1.0 ba · 1,100 sqft · Condo · 44 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +4.7/10.0
• ARV discount +3.8/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful co-op apartment located in the center of downtown White Plains. Short distance to metro north, park , restaurants , and shopping. Nice kitchen with granite countertop and stainless steel appliances. Living room has wood flooring and crown molding with access to a nice balcony , and dinning area. Nice big bedroom with build in closets another bedroom with closet. Hall bath with vanity. Laundry is on the same floor.

Key facts

• Garage
• Built 1966
• Listed 44 days

Property features AI

Finance

• HOA & community: Building has elevator(s); Live-in superintendent

Exterior

• Parking: Off-site parking (waitlist); 1 garage space
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Stock cooperative; Located on 6th floor or higher
• Construction: Brick and other construction; Other foundation
• Exterior features: Balcony

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Entry level: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Radiant heating; Other heating; No cooling
• Interior features: Open floor plan; Eat-in kitchen; Balcony
• Laundry & utility: Separate laundry room

🏢 Co-op / cooperative unit. The $265,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago 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.
• Current owner paid $97k; list at $265k implies a 173% gain — meaningful room to come down on a strong offer.

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 $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $245,000
• List price: $265,000
• Delta: 8.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $22,180
• Equity at exit: $39,512

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $103,318
• Equity at exit: $22,912

Cash invested: $74,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $3,611 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $1,022

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 67%

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: $66,250
• Closing costs: $7,950
• 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	44d	1	0.07mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$5,554	$6.31	1d	31	0.11mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	43d	1	0.11mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	13d	1	0.12mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	5d	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	$3,240	$4.73	43d	1	0.17mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	43d	1	0.18mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	43d	1	0.20mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.20mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	20d	1	0.20mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	24d	1	0.22mi
55 N Broadway Unit 3-15H White Plains, NY	2.0	2.5	1310	$3,850	$2.94	43d	1	0.25mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	0.28mi
240 Martine Ave Apt 4G White Plains, NY	3.0	2.0	1460	$4,195	$2.87	43d	1	0.31mi
234 Martine Ave White Plains, NY	3.0	2.0	1460	$4,195	$2.87	24d	1	0.31mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	43d	1	0.32mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.36mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$5,355	$5.50	1d	19	0.41mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	24d	1	0.43mi
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	$4,375	$5.03	43d	17	0.48mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$4,961	$5.46	1d	11	0.49mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	43d	1	0.51mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	43d	1	0.52mi
42 Waller Ave White Plains, NY	2.0	1.0	1150	$3,300	$2.87	43d	1	0.53mi
115 N Broadway White Plains, NY	2.0	2.5	1450	$3,750	$2.59	43d	1	0.54mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	44d	1	0.54mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	43d	1	0.54mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$6,146	$6.22	1d	28	0.58mi
26 Fairview Ave White Plains, NY	3.0	1.5	1100	$3,600	$3.27	43d	1	0.60mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$4,195	$4.82	5d	6	0.61mi
28 Beechwood Ave West Harrison, NY	3.0	1.0	1239	$4,800	$3.87	17d	1	0.63mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	13d	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	1.0–1.5	773	$2,900	$3.75	43d	2	0.64mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$4,295	$5.19	2d	12	0.66mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$7,098	$5.47	1d	126	0.66mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$5,064	$5.42	1d	20	0.68mi

HOA detail condo

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

Listing history 38 events

1. 2026-06-18
   days on market $265,000 Active 44 DOM
2. 2026-06-17
   days on market $265,000 Active 43 DOM
3. 2026-06-16
   days on market $265,000 Active 42 DOM
4. 2026-06-15
   days on market $265,000 Active 41 DOM
5. 2026-06-13
   days on market $265,000 Active 39 DOM
6. 2026-06-13
   days on market $265,000 Active 38 DOM
7. 2026-06-09
   days on market $265,000 Active 35 DOM
8. 2026-06-08
   days on market $265,000 Active 34 DOM
9. 2026-06-07
   days on market $265,000 Active 33 DOM
10. 2026-06-04
    days on market $265,000 Active 30 DOM
11. 2026-06-03
    days on market $265,000 Active 29 DOM
12. 2026-06-02
    days on market $265,000 Active 28 DOM
13. 2026-06-01
    days on market $265,000 Active 27 DOM
14. 2026-05-31
    days on market $265,000 Active 26 DOM
15. 2026-05-04
    listed $265,000 Active 426-char remark
16. 2025-04-02
    listed $299,000 Active
17. 2025-01-05
    historical
18. 2024-08-23
    price $290,000
19. 2024-07-04
    listed $299,000 Active
20. 2024-06-18
    historical
21. 2024-02-09
    listed $299,000 Active
22. 2017-04-21
    soldstatus $97,000 Sold
23. 2017-02-07
    historical Pending
24. 2017-01-08
    price $104,900
25. 2016-12-07
    price $129,900
26. 2016-10-08
    listed $149,000 Active
27. 2011-06-30
    historical
28. 2011-06-21
    price
29. 2011-06-17
    price
30. 2011-04-12
    price
31. 2011-02-03
    listed Active
32. 2011-02-01
    historical
33. 2011-01-17
    price
34. 2010-11-01
    listed Active
35. 2010-10-01
    historical
36. 2010-06-25
    price
37. 2010-04-28
    price
38. 2010-03-30
    listed 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 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: $43,336
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,467
• − Management: −$3,467
• − Depreciation: −$7,709
• Taxable income: $8,549
• Est. tax owed @ 24.0%: −$2,052
• After-tax cash flow: $10,207/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

+77.9% since first listed

24 events — show timeline

• 2026-05-04 Listed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-02 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-23 Price Changed $290,000 OneKey® MLS as Distributed by MLS Grid
• 2024-07-04 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-02-09 Listed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-21 Sold (MLS) $97,000 OneKey® MLS as Distributed by MLS Grid
• 2017-02-07 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-01-08 Price Changed $104,900 OneKey® MLS as Distributed by MLS Grid
• 2016-12-07 Price Changed $129,900 OneKey® MLS as Distributed by MLS Grid
• 2016-10-08 Listed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2011-06-30 Delisted — HGMLS
• 2011-06-21 Price Changed — HGMLS
• 2011-06-17 Price Changed — HGMLS
• 2011-04-12 Price Changed — HGMLS
• 2011-02-03 Listed — HGMLS
• 2011-02-01 Delisted — HGMLS
• 2011-01-17 Price Changed — HGMLS
• 2010-11-01 Listed — HGMLS
• 2010-10-01 Delisted — HGMLS
• 2010-06-25 Price Changed — HGMLS
• 2010-04-28 Price Changed — HGMLS
• 2010-03-30 Listed — HGMLS