24 Wappanocca Ave Unit I · Rye, NY 10580

$190,000

1 bd · 1.5 ba · 456 sqft · Condo · 247 Days on market

Built 1952 $417/sqft · 41% below area Est $323k · 41% under

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Why this score? — see what drove the A 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 +27.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Schools +8.6/10.0
• Appreciation +8.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

An opportunity for you to live in Rye NY, and experience all that it has to offer at an affordable price. Step into this one-level living, completely updated studio-like one-bed, 1.5 bath co-op in the heart of Rye, NY. This unit offers sunlight, tasteful updates, brand-new stainless steel kitchen appliances, and the convenience of assigned parking right outside the unit. Step inside the bedroom, and two closets offer ample storage for a smaller unit, and the opening allows for a queen-size bed. Walk to the Metro-North train station to easily commute to surrounding areas and NYC, and downtown Rye with an abundance of restaurants and shops to explore. Dogs allowed.

Key facts

• Walk to metro north
• One level living
• Assigned parking

Tags

• ONE LEVEL LIVING
• COMPLETELY UPDATED
• ASSIGNED PARKING
• AMPLE STORAGE
• WALK TO METRO NORTH
• DOWNTOWN RYE

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 1.5% in Rye — 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 70/100 on livability (#431 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• Rye City School District (suburban): math 89% / reading 93% proficiency, ranked #4 of 590 in NY (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Market conditions: 121 active listings in the ZIP; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent is only 16% of the median local income ($250k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.6% local appreciation)).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 22% of rent; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.72% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.28%
• DSCR: 1.55
• GRM: 4.8

CMA / ARV

• ARV (median comp): $323,015
• List price: $190,000
• Delta: -41.18%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.32×
• Total profit: $70,466
• Equity at exit: $127,244

10-year hold

• IRR: 18.5%
• Equity multiple: 4.78×
• Total profit: $201,253
• Equity at exit: $237,805

Cash invested: $53,200 (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 10580

• Home prices YoY: 2.1%
• Active inventory: 121
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,275 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 1 same-building comp: −$730
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $118

Break-even live

Break-even rent $3,126

Max offer price $190,000

Occupancy floor 91%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 25 events

1. 2026-06-18
   days on market $190,000 Active 247 DOM
2. 2026-06-17
   days on market $190,000 Active 246 DOM
3. 2026-06-16
   days on market $190,000 Active 245 DOM
4. 2026-06-15
   days on market $190,000 Active 244 DOM
5. 2026-06-13
   days on market $190,000 Active 242 DOM
6. 2026-06-13
   days on market $190,000 Active 241 DOM
7. 2026-06-09
   days on market $190,000 Active 238 DOM
8. 2026-06-08
   days on market $190,000 Active 237 DOM
9. 2026-06-07
   days on market $190,000 Active 236 DOM
10. 2026-06-04
    days on market $190,000 Active 233 DOM
11. 2026-06-03
    days on market $190,000 Active 232 DOM
12. 2026-06-02
    days on market $190,000 Active 231 DOM
13. 2026-06-01
    days on market $190,000 Active 230 DOM
14. 2026-05-31
    days on market $190,000 Active 229 DOM
15. 2025-10-14
    historical

    Show marketing remark (671 chars)

    An opportunity for you to live in Rye NY, and experience all that it has to offer at an affordable price. Step into this one-level living, completely updated studio-like one-bed, 1.5 bath co-op in the heart of Rye, NY. This unit offers sunlight, tasteful updates, brand-new stainless steel kitchen appliances, and the convenience of assigned parking right outside the unit. Step inside the bedroom, and two closets offer ample storage for a smaller unit, and the opening allows for a queen-size bed. Walk to the Metro-North train station to easily commute to surrounding areas and NYC, and downtown Rye with an abundance of restaurants and shops to explore. Dogs allowed.

16. 2025-10-14
    listed $190,000 Active 671-char remark

    Show marketing remark (671 chars)

    An opportunity for you to live in Rye NY, and experience all that it has to offer at an affordable price. Step into this one-level living, completely updated studio-like one-bed, 1.5 bath co-op in the heart of Rye, NY. This unit offers sunlight, tasteful updates, brand-new stainless steel kitchen appliances, and the convenience of assigned parking right outside the unit. Step inside the bedroom, and two closets offer ample storage for a smaller unit, and the opening allows for a queen-size bed. Walk to the Metro-North train station to easily commute to surrounding areas and NYC, and downtown Rye with an abundance of restaurants and shops to explore. Dogs allowed.

17. 2025-09-27
    price $190,000
18. 2025-07-15
    listed $200,000 Active
19. 2025-06-13
    historical
20. 2025-04-17
    listed $195,000 Active
21. 2024-08-30
    historical
22. 2024-04-19
    listed $179,900 Active
23. 2011-11-04
    historical
24. 2011-06-08
    price
25. 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 9/10 Extreme FEMA zone AE · 99% 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,305
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$6,068
• − Repairs & maintenance: −$3,144
• − Management: −$3,144
• − HOA: −$8,760
• − Depreciation: −$5,527
• Taxable loss: −$833
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $1,616/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: Rye City School District
• NCES district ID: 3625260
• Math proficiency: 89% ▲ 11.00%
• Reading proficiency: 93% ▲ 12.00%
• Median HH income: $144,848
• Composite: 85.84/100
• National rank: #6
• State rank: #4 of 590 in NY

Livability — Rye

• Score: 70/100
• State rank: #431
• US rank: #7470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rye, NY
• County: Westchester County · 709,332 people
• City population: 18,391
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 18,391
• Household income: $250,001
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 580.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Asian 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 5% Italian 3% German 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 6% Other Indo-European 3% Chinese 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: ▲ 6.64%
• Current HPI: 321.5777
• Rent YoY: —
• 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

+5.6% since first listed

11 events — show timeline

• 2025-10-14 Listed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-27 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-15 Listed $200,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-17 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-04-19 Listed $179,900 OneKey® MLS as Distributed by MLS Grid
• 2011-11-04 Delisted — HGMLS
• 2011-06-08 Price Changed — HGMLS
• 2011-05-03 Listed — HGMLS