609 Palmer Rd Unit 4J · Yonkers, NY 10701

$295,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 135 Days on market

Built 1959

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Cash flow +2.2/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

Key facts

• Built 1959
• Listed 135 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $260k (12.0% below list) — sets the bar for market timing.
• Cap rate 2.0% vs local median 5.4% in Yonkers — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Yonkers Early Childhood Academy (327 students, 72% FRL); Yonkers Middle School (math 17% / reading 37%, grade F, #587 of 729 statewide, top 81%, 601 students, 88% FRL); Roosevelt High School - Early College Studies (math 77% / reading 87%, grade A, #452 of 1,100 statewide, top 44%, 1,041 students, 85% FRL) — zoned schools average 82% FRL vs 64% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.4%/yr); 185 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $2,969/mo this rent would consume 55% of the median local household income ($65k/yr) (locally 6045% 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 $9k 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 135 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 15y 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 $156k; list at $295k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent; built in 1959 — 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 $259,600 (12.0% 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 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 1.95%
• Cash-on-cash: -15.50%
• DSCR: 0.31
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -42.4%
• Equity multiple: -0.34×
• Total profit: $-110,677
• Equity at exit: $43,985

10-year hold

• IRR: -49.4%
• Equity multiple: -0.97×
• Total profit: $-162,519
• Equity at exit: $25,506

Cash invested: $82,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10701

• Rents YoY: 4.4%
• Active inventory: 185
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,969 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA est. from 1 same-building comp: −$1,374
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $-1,067

Break-even live

Break-even rent $4,320

Max offer price $140,569

Occupancy floor —

Sensitivity live

Price	-10% $-863	-5% $-965	+0% $-1,067	+5% $-1,169	+10% $-1,271
Rent	-10% $-1,302	-5% $-1,185	+0% $-1,067	+5% $-950	+10% $-833
Rate	-1.0pp $-919	-0.5pp $-992	base $-1,067	+0.5pp $-1,144	+1.0pp $-1,221

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Winchester Ave Unit 2A Yonkers, NY	1.0	1.0	700	$2,100	$3.00	15d	1	0.42mi
433 Palmer Rd Unit Second Fl Yonkers, NY	3.0	1.5	1400	$3,500	$2.50	45d	1	0.44mi
278 Mile Square Rd Yonkers, NY	2.0	1.0	1000	$2,650	$2.65	45d	1	0.54mi
12 Wainwright Ave Apt 1B Yonkers, NY	1.0	1.0	700	$1,950	$2.79	45d	1	0.56mi
355 Bronxville Rd Bronxville, NY	3.0	2.0	968	$3,400	$3.51	26d	1	0.59mi
1549 Central Park Ave Yonkers, NY	2.0	1.0	850	$2,400	$2.82	45d	1	0.62mi
246 Stone Ave Yonkers, NY	3.0	1.0	900	$3,300	$3.67	6d	1	0.82mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	45d	1	0.83mi
4 Sadore Ln Unit 2W Yonkers, NY	1.0	1.0	800	$2,000	$2.50	18d	1	0.93mi
4 Fowler Ave Unit 1 floor Yonkers, NY	2.0	1.0	1400	$2,700	$1.93	45d	1	0.95mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	26d	1	0.95mi
64 Kensington Rd Apt 1A Bronxville, NY	1.0	1.0	800	$2,895	$3.62	13d	1	1.01mi
85 Bennett Ave Unit 2 Yonkers, NY	2.0	1.0	1000	$2,500	$2.50	45d	1	1.04mi
64 Sagamore Rd Unit A6 Bronxville, NY	1.0	1.0	850	$2,900	$3.41	6d	1	1.05mi
111 Kensington Rd Unit 8 Bronxville, NY	1.0	1.0	825	$2,650	$3.21	14d	1	1.11mi
23 Belknap Ave Yonkers, NY	1.0	1.0	700	$2,300	$3.29	26d	1	1.14mi
128 Colonial Pkwy Unit 3B Yonkers, NY	1.0	1.0	871	$2,750	$3.16	45d	1	1.16mi
7 Oak Ave Tuckahoe, NY	2.0	1.0	1200	$2,500	$2.08	45d	1	1.17mi
11 Oak Ave Unit 1 Bronxville, NY	3.0	2.0	1400	$4,300	$3.07	45d	1	1.18mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	8d	1	1.19mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	11d	1	1.19mi
601 Ridge Hill Blvd Yonkers, NY	2.0	1.0–2.0	819	$4,600	$5.61	8d	14	1.19mi
70 Lake Ave Unit 1 Tuckahoe, NY	3.0	2.5	1200	$4,995	$4.16	13d	1	1.21mi
23 Colin St Yonkers, NY	2.0	1.0	750	$2,500	$3.33	16d	1	1.22mi
151 Burhans Ave Unit 1 Yonkers, NY	3.0	1.0	1500	$3,550	$2.37	45d	1	1.23mi
21 Scarsdale Rd Yonkers, NY	2.0	1.0	835	$4,600	$5.51	3d	21	1.25mi
103 Burhans Ave Yonkers, NY	2.0	1.0	894	$2,000	$2.24	45d	1	1.26mi
348 Saw Mill River Rd Unit 2 Yonkers, NY	3.0	1.0	900	$3,200	$3.56	26d	1	1.29mi
26 W Devonia Ave Unit 1 Mt Vernon, NY	3.0	1.5	1388	$4,200	$3.03	13d	1	1.38mi
6 Belden Ave Unit 1 Yonkers, NY	3.0	2.0	1450	$3,500	$2.41	26d	1	1.43mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	26d	1	1.46mi
50 Columbus Ave Unit 817 Tuckahoe, NY	1.0	1.0	750	$3,000	$4.00	23d	1	1.48mi
54 Washington St Unit 2nd Floor Tuckahoe, NY	3.0	2.0	1250	$3,900	$3.12	7d	1	1.50mi

HOA detail condo

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

Listing history 36 events

1. 2026-02-27
   status Pending
2. 2025-11-25
   status Active
3. 2025-08-04
   status Pending
4. 2025-06-24
   listed $295,000 Active
5. 2014-03-15
   price $156,000 381-char remark

   Show marketing remark (381 chars)

   Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

6. 2014-02-04
   soldstatus $156,000 Sold 381-char remark

   Show marketing remark (381 chars)

   Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

7. 2014-02-04
   soldstatus $156,000 381-char remark

   Show marketing remark (381 chars)

   Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

8. 2014-01-27
   historical 381-char remark

   Show marketing remark (381 chars)

   Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

9. 2013-12-30
   historical Pending 381-char remark

   Show marketing remark (381 chars)

   Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

10. 2013-12-30
    price $179,900 381-char remark

    Show marketing remark (381 chars)

    Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

11. 2013-10-07
    listed $179,900 Active 381-char remark

    Show marketing remark (381 chars)

    Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

12. 2013-10-07
    listed $179,900 381-char remark

    Show marketing remark (381 chars)

    Polish this gem and make it your OWN, sun-drenched 2-bedrooms, 2-bathooms, over-sized large closets, eat-in-kitchen; amenities boasts walking distance to Bronxville Village, shopping and Metro-North, express bus to Manhattan, common laundry, serene park-like setting, gated community. Close to all local transportation, and highways, library. Call today to see this beautiful unit.

13. 2013-09-01
    historical
14. 2013-08-31
    historical
15. 2013-07-27
    status Active
16. 2013-04-25
    historical Pending
17. 2013-02-15
    listed Active
18. 2013-02-14
    historical Cancelled
19. 2013-02-14
    listed $179,900
20. 2013-02-14
    historical
21. 2013-02-02
    status Active
22. 2012-11-27
    historical Pending
23. 2012-10-11
    listed Active
24. 2012-10-11
    listed $179,900
25. 2012-10-10
    historical
26. 2012-10-09
    historical
27. 2012-08-31
    price
28. 2012-04-09
    listed Active
29. 2012-04-09
    listed $179,900
30. 2012-04-08
    historical
31. 2012-04-07
    historical
32. 2012-03-10
    price
33. 2012-02-14
    listed Active
34. 2012-02-13
    listed $199,900
35. 2011-11-03
    historical
36. 2011-05-03
    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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,627
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,850
• − Management: −$2,850
• − HOA: −$16,488
• − Depreciation: −$8,582
• Taxable loss: −$17,568
• Est. tax savings @ 24.0%: +$4,216
• After-tax cash flow: $-8,591/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: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 70,676
• Household income: $64,776
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6045.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 21% Black 21% Two or more races 18% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 9% Dominican 19%
• Common ancestry: Romanian 1% Russian 1% Subsaharan African 1%
• Foreign-born: 35% · Canada, Jamaica, South Korea
• Languages at home: 45% English-only · Spanish 42% Other Indo-European 3% Arabic 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: ▼ -373.14%
• Current HPI: 332.0999
• Rent YoY: ▲ 4.39%
• 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

+47.6% since first listed

36 events — show timeline

• 2026-02-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-24 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $156,000 HGMLS
• 2014-02-04 Sold (MLS) $156,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-04 Sold (MLS) $156,000 HGMLS
• 2014-01-27 Delisted — HGMLS
• 2013-12-30 Contingent — HGMLS
• 2013-12-30 Price Changed $179,900 HGMLS
• 2013-10-07 Listed $179,900 HGMLS
• 2013-10-07 Listed $179,900 OneKey® MLS as Distributed by MLS Grid
• 2013-09-01 Delisted — HGMLS
• 2013-08-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-07-27 Relisted — HGMLS
• 2013-04-25 Contingent — HGMLS
• 2013-02-15 Listed — HGMLS
• 2013-02-14 Delisted — HGMLS
• 2013-02-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-02-14 Listed $179,900 OneKey® MLS as Distributed by MLS Grid
• 2013-02-02 Relisted — HGMLS
• 2012-11-27 Contingent — HGMLS
• 2012-10-11 Listed — HGMLS
• 2012-10-11 Listed $179,900 OneKey® MLS as Distributed by MLS Grid
• 2012-10-10 Delisted — HGMLS
• 2012-10-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-08-31 Price Changed — HGMLS
• 2012-04-09 Listed — HGMLS
• 2012-04-09 Listed $179,900 OneKey® MLS as Distributed by MLS Grid
• 2012-04-08 Delisted — HGMLS
• 2012-04-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-03-10 Price Changed — HGMLS
• 2012-02-14 Listed — HGMLS
• 2012-02-13 Listed $199,900 OneKey® MLS as Distributed by MLS Grid
• 2011-11-03 Delisted — HGMLS
• 2011-05-03 Listed — HGMLS