155 Ferris Ave Unit 12L · White Plains, NY 10603

$177,500

1 bd · 1.0 ba · 600 sqft · Condo · 59 Days on market

Built 1967

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Why this score? — see what drove the C+ 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• 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

Welcome to this beautifully updated one-bedroom co-op in the heart of White Plains—where style, comfort, and convenience meet. Bright and inviting, the open living and dining area features a balcony, large windows, and a modern neutral palette that complements the unparalleled cityscape and stunning sunset views this desirable top-floor unit provides. The fully renovated kitchen offers crisp white cabinets, gorgeous quartz countertops, a mosaic backsplash, and stainless steel appliances. The spacious bedroom easily accommodates a queen or king bed with ample closet space, while the updated bath features clean, modern finishes. Located in a professionally managed and well maintained bu

Key facts

• Quartz countertops
• Updated bath
• Mosaic backsplash

Tags

• OPEN LIVING AND DINING AREA
• FULLY RENOVATED KITCHEN
• QUARTZ COUNTERTOPS
• MOSAIC BACKSPLASH
• STAINLESS STEEL APPLIANCES
• UPDATED BATH

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 $407 ($5k/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: $172k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $172,175 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.65% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 5.1

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,386
• Equity at exit: $26,466

10-year hold

• IRR: 8.6%
• Equity multiple: 1.67×
• Total profit: $33,162
• Equity at exit: $15,347

Cash invested: $49,700 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,924 high
• Mortgage (P&I): −$931
• Tax est. 1.5%: −$222 /mo · $2,662/yr
• Insurance: −$74
• HOA est. from 2 same-building comps: −$676
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $407

Break-even live

Break-even rent $2,408

Max offer price $177,500

Occupancy floor 81%

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$4,320	$4.37	1d	28	0.56mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	43d	1	0.57mi
5 Cottage Pl White Plains, NY	—	1.0	577	$2,686	$4.66	13d	1	0.58mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	1d	31	0.64mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$2,715	$2.91	1d	20	0.67mi
9 Wyndover Woods Ln #23 White Plains, NY	—	1.0	600	$1,850	$3.08	43d	1	0.68mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$2,695	$3.09	5d	6	0.70mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$2,850	$3.44	2d	12	0.72mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.76mi
55 Bank St White Plains, NY	2.0	1.0–2.0	861	$3,922	$4.56	1d	23	0.77mi
57 Bank St Unit 1040036P White Plains, NY	1.0	1.0	592	$7,170	$12.11	18d	1	0.79mi
57 Bank St Unit 1040035P White Plains, NY	2.0	1.0–2.0	726	$7,940	$10.94	2d	3	0.79mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	20d	1	0.80mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	43d	1	0.80mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.82mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	19d	1	0.85mi
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	4d	1	0.87mi
10 Franklin Ave Unit 2MEF White Plains, NY	—	1.0	422	$1,800	$4.27	43d	1	0.91mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$4,038	$4.15	1d	19	0.92mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.96mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	2d	1	1.03mi
1 Lyon Pl Unit 103 White Plains, NY	—	1.0	406	$2,295	$5.65	2d	1	1.03mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	43d	17	1.04mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	43d	1	1.10mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	1d	11	1.12mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$3,389	$2.61	1d	126	1.14mi
295 Columbus Ave Unit 1 West Harrison, NY	1.0	1.0	726	$3,600	$4.96	43d	1	1.47mi

HOA detail condo

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

Listing history 10 events

1. 2026-02-06
   status Pending
2. 2025-10-17
   listed $177,500 Active
3. 2017-02-03
   historical
4. 2017-01-23
   historical Temporarily off Market
5. 2016-08-04
   listed Active
6. 2016-08-03
   listed $77,500
7. 2009-10-01
   historical
8. 2009-03-31
   listed
9. 2008-09-30
   historical
10. 2008-03-31
    listed

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 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: $35,082
• − Mortgage interest: −$9,943
• − Property taxes: −$2,662
• − Insurance: −$888
• − Repairs & maintenance: −$2,807
• − Management: −$2,807
• − HOA: −$8,112
• − Depreciation: −$5,164
• Taxable income: $2,701
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $4,235/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

+129.0% since first listed

10 events — show timeline

• 2026-02-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Listed $177,500 OneKey® MLS as Distributed by MLS Grid
• 2017-02-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-01-23 Delisted — HGMLS
• 2016-08-04 Listed — HGMLS
• 2016-08-03 Listed $77,500 OneKey® MLS as Distributed by MLS Grid
• 2009-10-01 Delisted — HGMLS
• 2009-03-31 Listed — HGMLS
• 2008-09-30 Delisted — HGMLS
• 2008-03-31 Listed — HGMLS