1825 Palmer Ave Unit 2D · Larchmont, NY 10538

$195,000

1 bd · 1.0 ba · 700 sqft · Condo · 65 Days on market

Built 1950 $279/sqft · 10% below area Est $217k · 10% under

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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
• ARV discount +12.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +7.1/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This sun-filled residence is ideally located in the heart of Larchmont, offering a gracious layout with an updated kitchen, a beautifully renovated bath, and a spacious living and dining area. Thoughtful details throughout include great closet space—two in the bedroom, along with linen and entry closets—custom moldings, and hardwood floors in excellent condition. Well maintained and truly move-in ready, the co-op is just moments from village shops, restaurants, parks, and the train, offering a convenient and easy lifestyle. Monthly maintenance includes heat and hot water.

Key facts

• Move-in ready
• Renovated bath
• Great closet space

Tags

• UPDATED KITCHEN
• RENOVATED BATH
• GREAT CLOSET SPACE
• CUSTOM MOLDINGS
• HARDWOOD FLOORS
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.1% in Larchmont — 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 86/100 on livability (#18 in NY, #366 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Mamaroneck Union Free School District (suburban): math 74% / reading 81% proficiency, ranked #47 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 138 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 9 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.26%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $217,148
• List price: $195,000
• Delta: -10.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.6%
• Equity multiple: 1.34×
• Total profit: $18,452
• Equity at exit: $29,075

10-year hold

• IRR: 17.8%
• Equity multiple: 2.48×
• Total profit: $80,628
• Equity at exit: $16,860

Cash invested: $54,600 (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 10538

• Active inventory: 138
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $785

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 66%

Sensitivity live

Price	-10% $920	-5% $853	+0% $785	+5% $718	+10% $650
Rent	-10% $572	-5% $679	+0% $785	+5% $892	+10% $998
Rate	-1.0pp $883	-0.5pp $835	base $785	+0.5pp $735	+1.0pp $683

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Rockland Ave Unit 2 Mamaroneck, NY	1.0	1.0	700	$2,800	$4.00	44d	1	0.95mi
412 Munro Ave Apt 3F Mamaroneck, NY	1.0	1.0	750	$2,950	$3.93	44d	1	1.25mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	1.27mi

HOA detail condo

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

Listing history 41 events

1. 2026-06-18
   days on market $195,000 Active 65 DOM
2. 2026-06-17
   days on market $195,000 Active 64 DOM
3. 2026-06-16
   days on market $195,000 Active 63 DOM
4. 2026-06-15
   days on market $195,000 Active 62 DOM
5. 2026-06-13
   days on market $195,000 Active 60 DOM
6. 2026-06-09
   days on market $195,000 Active 56 DOM
7. 2026-06-08
   days on market $195,000 Active 55 DOM
8. 2026-06-07
   days on market $195,000 Active 54 DOM
9. 2026-06-04
   days on market $195,000 Active 51 DOM
10. 2026-06-03
    days on market $195,000 Active 50 DOM
11. 2026-06-02
    days on market $195,000 Active 49 DOM
12. 2026-06-01
    days on market $195,000 Active 48 DOM
13. 2026-05-31
    days on market $195,000 Active 47 DOM
14. 2026-04-13
    listed $195,000 Active 590-char remark

    Show marketing remark (590 chars)

    This sun-filled residence is ideally located in the heart of Larchmont, offering a gracious layout with an updated kitchen, a beautifully renovated bath, and a spacious living and dining area. Thoughtful details throughout include great closet space—two in the bedroom, along with linen and entry closets—custom moldings, and hardwood floors in excellent condition. Well maintained and truly move-in ready, the co-op is just moments from village shops, restaurants, parks, and the train, offering a convenient and easy lifestyle. Monthly maintenance includes heat and hot water.

15. 2023-10-30
    soldstatus $170,000 Closed 439-char remark

    Show marketing remark (439 chars)

    This lovely, sunny unit is located in the heart of Larchmont. It's gracious floor plan includes and updated kitchen w/granite counters. A new bathroom, living room/dining room, lots of closets, new windows, moldings and beautiful wood floors throughout. Located close to shops, restaurants and parks as well as a stones throw away from the train station. This well maintained unit is move-in ready and waiting for you. A Commuter's Dream!

16. 2023-06-21
    status Pending 439-char remark

    Show marketing remark (439 chars)

    This lovely, sunny unit is located in the heart of Larchmont. It's gracious floor plan includes and updated kitchen w/granite counters. A new bathroom, living room/dining room, lots of closets, new windows, moldings and beautiful wood floors throughout. Located close to shops, restaurants and parks as well as a stones throw away from the train station. This well maintained unit is move-in ready and waiting for you. A Commuter's Dream!

17. 2023-04-21
    listed $174,000 Active 439-char remark

    Show marketing remark (439 chars)

    This lovely, sunny unit is located in the heart of Larchmont. It's gracious floor plan includes and updated kitchen w/granite counters. A new bathroom, living room/dining room, lots of closets, new windows, moldings and beautiful wood floors throughout. Located close to shops, restaurants and parks as well as a stones throw away from the train station. This well maintained unit is move-in ready and waiting for you. A Commuter's Dream!

18. 2021-12-31
    historical
19. 2021-02-11
    price $174,000
20. 2021-01-08
    listed $184,999 Active
21. 2020-12-02
    historical
22. 2020-10-29
    price $187,500
23. 2020-10-14
    price $192,500
24. 2020-09-11
    listed $197,500 Active
25. 2017-07-27
    soldstatus $160,000 Sold
26. 2017-05-04
    historical Pending
27. 2017-03-08
    price $164,999
28. 2017-02-23
    listed $169,000 Active
29. 2014-04-03
    soldstatus $131,000
30. 2014-04-03
    price $131,000 Sold
31. 2014-04-03
    soldstatus $131,000 Sold
32. 2014-02-15
    historical Pending
33. 2014-02-15
    price $136,000
34. 2014-01-19
    price $136,000
35. 2013-10-28
    price $139,900
36. 2013-09-09
    listed $144,900 Active
37. 2013-09-09
    listed $136,000
38. 2009-05-14
    historical
39. 2008-11-13
    listed
40. 2008-11-12
    historical
41. 2008-06-10
    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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 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: $32,397
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − Depreciation: −$5,673
• Taxable income: $6,718
• Est. tax owed @ 24.0%: −$1,612
• After-tax cash flow: $7,810/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: Mamaroneck Union Free School District
• NCES district ID: 3618240
• Math proficiency: 74% ▼ -4.00%
• Reading proficiency: 81% ▲ 9.00%
• Median HH income: $111,011
• Composite: 71.4/100
• National rank: #228
• State rank: #47 of 590 in NY

Livability — Larchmont

• Score: 86/100
• State rank: #18
• US rank: #366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Larchmont, NY
• Population (ZIP): 17,709

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 (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 5% Italian 3% Romanian 3%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 83% English-only · Spanish 5% Other Indo-European 4% 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: ▼ -535.56%
• Current HPI: 325.1393
• 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

+43.4% since first listed

28 events — show timeline

• 2026-04-13 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-30 Sold (MLS) $170,000 OneKey® MLS as Distributed by MLS Grid
• 2023-06-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-21 Listed $174,000 OneKey® MLS as Distributed by MLS Grid
• 2021-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-02-11 Price Changed $174,000 OneKey® MLS as Distributed by MLS Grid
• 2021-01-08 Listed $184,999 OneKey® MLS as Distributed by MLS Grid
• 2020-12-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-10-29 Price Changed $187,500 OneKey® MLS as Distributed by MLS Grid
• 2020-10-14 Price Changed $192,500 OneKey® MLS as Distributed by MLS Grid
• 2020-09-11 Listed $197,500 OneKey® MLS as Distributed by MLS Grid
• 2017-07-27 Sold (MLS) $160,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-04 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-03-08 Price Changed $164,999 OneKey® MLS as Distributed by MLS Grid
• 2017-02-23 Listed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-03 Sold (MLS) $131,000 HGMLS
• 2014-04-03 Price Changed $131,000 HGMLS
• 2014-04-03 Sold (MLS) $131,000 OneKey® MLS as Distributed by MLS Grid
• 2014-02-15 Contingent — HGMLS
• 2014-02-15 Price Changed $136,000 HGMLS
• 2014-01-19 Price Changed $136,000 HGMLS
• 2013-10-28 Price Changed $139,900 HGMLS
• 2013-09-09 Listed $144,900 HGMLS
• 2013-09-09 Listed $136,000 OneKey® MLS as Distributed by MLS Grid
• 2009-05-14 Delisted — HGMLS
• 2008-11-13 Listed — HGMLS
• 2008-11-12 Delisted — HGMLS
• 2008-06-10 Listed — HGMLS