70 Locust Ave Unit 504B · New Rochelle, NY 10801

$229,000

2 bd · 1.0 ba · 900 sqft · Condo · 16 Days on market

Built 1955

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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 +9.2/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to this updated 2 Bedroom Cooperative located in downtown New Rochelle. Updated kitchen and Hall Bath, gleaming hardwood flooring throughout. Renovation of the building lobby and hallways adds to the beauty of this building. 70 Locust has an exercise room, laundry room, two elevators and storage available for additional fee. Electricity is included in the common charges except for a $50 per month charge per air conditioner for the months of June, July, August, and September. There is a waitlist for parking currently. Walk to All!! Metro North, Beaches, Beach Clubs, Library, Downtown & Restaurants.

Key facts

• Solid wood cabinets
• Close to schools
• Granite countertops

Tags

• HARDWOOD FLOORS
• SOLID WOOD CABINETS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SEPARATE DINING AREA
• CLOSE TO SCHOOLS

Property features AI

Finance

• HOA & community: Building amenities include park, trash service, and elevator(s); Association fee covers electricity, gas, grounds care, hot water, sewer, trash, water, heat, and exterior maintenance

Exterior

• Parking: Carport (1 space); Parking fee applies ($55); Other/waitlist parking features
• Utilities: Sewer: other; Utilities: see remarks
• Home design: Stock cooperative; One level; Located on level 5; Total building stories: 6
• Construction: Brick and other exterior materials; Other foundation
• Exterior features: Near public transit; Near schools; Near shops; Not waterfront

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Entry level: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Hot water heating; Heating: see remarks; Wall/window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Granite counters; Formal dining area; Attic (see remarks); Common basement areas (see remarks)
• Laundry & utility: In-unit laundry; Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $984 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 4.5% in New Rochelle — 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 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Trinity Elementary School (math 40% / reading 47%, grade F, #1,350 of 2,108 statewide, top 64%, 863 students, 66% FRL); Isaac E Young Middle School (math 47% / reading 62%, grade B-, #214 of 729 statewide, top 31%, 1,138 students, 76% FRL); New Rochelle High School (math 87% / reading 72%, grade A-, #518 of 1,100 statewide, top 51%, 3,076 students, 57% FRL) — zoned schools average 67% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $3,249/mo this rent would consume 46% of the median local household income ($86k/yr) (locally 2797% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 1.4% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 17y 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: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $225,565 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.42% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.42%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.32×
• Total profit: $20,535
• Equity at exit: $34,145

10-year hold

• IRR: 16.2%
• Equity multiple: 2.23×
• Total profit: $78,577
• Equity at exit: $19,800

Cash invested: $64,120 (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 10801

• Rents YoY: 1.4%
• Active inventory: 138
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,249 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $984

Break-even live

Break-even rent $2,003

Max offer price $229,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,142	-5% $1,063	+0% $984	+5% $905	+10% $826
Rent	-10% $727	-5% $856	+0% $984	+5% $1,112	+10% $1,241
Rate	-1.0pp $1,099	-0.5pp $1,042	base $984	+0.5pp $925	+1.0pp $864

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	0.06mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$7,811	$9.25	2d	31	0.18mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$4,540	$5.90	3d	50	0.19mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$5,214	$5.73	2d	28	0.20mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$5,113	$6.90	2d	14	0.21mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	3d	1	0.21mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$4,192	$4.57	2d	51	0.30mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	16d	1	0.30mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$3,631	$4.05	3d	31	0.34mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$3,987	$5.07	2d	17	0.35mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	821	$2,099	$2.56	6d	1	0.38mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$4,625	$4.68	5d	8	0.38mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$3,780	$4.94	2d	15	0.38mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$4,785	$5.61	3d	12	0.39mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,897	$5.21	5d	12	0.40mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$3,575	$4.75	5d	6	0.43mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,812	$4.81	2d	11	0.44mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,595	$3.01	2d	2	0.44mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	8d	1	0.44mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,595	$2.88	12d	2	0.44mi
230 Pelham Rd Unit 6F New Rochelle, NY	1.0	1.0	800	$1,995	$2.49	44d	1	0.47mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	11d	10	0.49mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	18d	1	0.53mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	44d	1	0.57mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	44d	1	0.59mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	44d	1	0.75mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	8d	1	0.80mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	21d	1	0.84mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	44d	1	0.91mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	18d	1	0.91mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	13d	1	0.94mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	5d	1	0.95mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	44d	1	0.96mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	3d	1	0.96mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	44d	1	0.96mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.96mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	44d	1	0.98mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	1.00mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	44d	1	1.00mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	44d	1	1.00mi

HOA detail condo

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

Listing history 11 events

1. 2026-06-18
   days on market $229,000 Active 16 DOM
2. 2026-06-17
   days on market $229,000 Active 15 DOM
3. 2026-06-16
   days on market $229,000 Active 14 DOM
4. 2026-06-15
   days on market $229,000 Active 13 DOM
5. 2026-06-13
   days on market $229,000 Active 11 DOM
6. 2026-06-09
   days on market $229,000 Active 7 DOM
7. 2026-06-08
   days on market $229,000 Active 6 DOM
8. 2026-06-07
   days on market $229,000 Active 5 DOM
9. 2026-06-04
   days on market $229,000 Active 2 DOM
10. 2026-06-02
    remarks 544-char remark
11. 2026-06-02
    listed $229,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,988
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − Depreciation: −$6,662
• Taxable income: $8,680
• Est. tax owed @ 24.0%: −$2,083
• After-tax cash flow: $9,726/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: New Rochelle City School District
• NCES district ID: 3620490
• Math proficiency: 63% ▲ 3.00%
• Reading proficiency: 66% ▲ 9.00%
• Median HH income: $69,165
• Composite: 56.63/100
• National rank: #1139
• State rank: #171 of 590 in NY

Livability — New Rochelle

• Score: 69/100
• State rank: #487
• US rank: #8572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Rochelle, NY
• County: Westchester County · 709,332 people
• City population: 63,657
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 42,754
• Household income: $85,573
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 2797.0

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 0.72)
• Race & ethnicity: Hispanic / Latino 36% White 30% Black 24% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 17% Puerto Rican 5% Dominican 3%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 5% French/Haitian/Cajun 4%

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: ▼ -910.37%
• Current HPI: 270.8019
• Rent YoY: ▲ 1.42%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+6.5% since first listed

31 events — show timeline

• 2026-06-02 Listed $229,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-06-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-06-24 Price Changed $220,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-01-10 Price Changed $202,500 OneKey® MLS as Distributed by MLS Grid
• 2023-11-21 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-06-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-21 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-18 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2021-08-13 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-03-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-02-26 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2021-02-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-02-08 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $180,000 HGMLS
• 2010-08-26 Sold (MLS) $180,000 HGMLS
• 2010-07-16 Contingent — HGMLS
• 2010-07-08 Price Changed $185,000 HGMLS
• 2010-06-04 Price Changed $185,000 HGMLS
• 2010-04-30 Price Changed $190,000 HGMLS
• 2010-03-22 Relisted — HGMLS
• 2010-03-19 Contingent — HGMLS
• 2010-02-11 Price Changed $199,000 HGMLS
• 2010-01-15 Relisted — HGMLS
• 2010-01-15 Price Changed $209,000 HGMLS
• 2009-12-14 Delisted — HGMLS
• 2009-11-23 Price Changed $205,000 HGMLS
• 2009-11-12 Price Changed $210,000 HGMLS
• 2009-10-09 Listed $215,000 HGMLS