70 Locust Ave Unit B114 · New Rochelle, NY 10801

$139,900

1 bd · 1.0 ba · 700 sqft · Condo · 135 Days on market

Built 1955 Fair condition $200/sqft · 24% below area Est $185k · 24% under ↓ 11% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

Key facts

• Fitness center
• Galley kitchen
• Laundry room

Tags

• FIRST FLOOR
• LARGE LIVING ROOM
• GALLEY KITCHEN
• LAUNDRY ROOM
• COMMUNITY ROOM
• FITNESS CENTER

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$185,105) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% 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.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• This rent runs 41% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $123,112 (12.0% below list)

Questions for the listing agent

1. 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?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 17.66%
• Cash-on-cash: 40.61%
• DSCR: 2.81
• GRM: 4.0

CMA / ARV

• ARV (median comp): $185,105
• List price: $139,900
• Delta: -24.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.3%
• Equity multiple: 2.46×
• Total profit: $57,259
• Equity at exit: $20,860

10-year hold

• IRR: 41.2%
• Equity multiple: 4.59×
• Total profit: $140,696
• Equity at exit: $12,096

Cash invested: $39,172 (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: 4.0×

Monthly cashflow live

• Estimated rent: $2,902 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $1,326

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 49%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 29 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	18d	1	0.09mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	1d	31	0.23mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$3,764	$5.08	1d	14	0.24mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,536	$4.59	2d	50	0.24mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$3,721	$4.09	1d	28	0.25mi
130 Centre Ave Unit 4B New Rochelle, NY	—	1.0	452	$1,885	$4.17	43d	1	0.31mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,158	$3.44	1d	51	0.35mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,922	$3.26	2d	31	0.38mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$2,847	$3.62	1d	17	0.40mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,195	$2.54	1d	2	0.43mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	5d	8	0.43mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$2,945	$3.85	1d	15	0.43mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	2d	12	0.44mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,054	$4.08	4d	12	0.45mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,094	$3.91	1d	11	0.46mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	4d	6	0.48mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	17d	1	0.51mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	10d	10	0.53mi
11 Burling Ln New Rochelle, NY	—	1.0	516	$2,250	$4.36	20d	9	0.56mi
95 Washington Ave Unit 1R New Rochelle, NY	—	1.0	400	$1,700	$4.25	24d	1	0.70mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	18d	1	0.95mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	13d	1	0.95mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	43d	1	1.00mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	43d	1	1.03mi
111 Colonial Pl Unit 3 New Rochelle, NY	1.0	1.0	400	$2,300	$5.75	18d	1	1.10mi
3 Harbor Ln Unit 3A New Rochelle, NY	1.0	1.0	700	$2,500	$3.57	24d	1	1.17mi
600 North Ave New Rochelle, NY	2.0	1.0–2.0	869	$3,422	$3.94	1d	11	1.17mi
9 9th St Unit 3rd Floor New Rochelle, NY	1.0	1.0	750	$2,100	$2.80	43d	1	1.23mi
666 Pelham Rd Apt 3A New Rochelle, NY	1.0	1.0	750	$2,350	$3.13	43d	1	1.30mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $139,900 Active 135 DOM
2. 2026-06-17
   days on market $139,900 Active 134 DOM
3. 2026-06-16
   days on market $139,900 Active 133 DOM
4. 2026-06-15
   days on market $139,900 Active 132 DOM
5. 2026-06-13
   days on market $139,900 Active 130 DOM
6. 2026-06-09
   days on market $139,900 Active 126 DOM
7. 2026-06-08
   days on market $139,900 Active 125 DOM
8. 2026-06-07
   days on market $139,900 Active 124 DOM
9. 2026-06-04
   days on market $139,900 Active 121 DOM
10. 2026-06-03
    days on market $139,900 Active 120 DOM
11. 2026-06-02
    days on market $139,900 Active 119 DOM
12. 2026-06-01
    days on market $139,900 Active 118 DOM
13. 2026-05-31
    pricedays on market $139,900 Active 117 DOM
14. 2026-04-30
    status Active 704-char remark

    Show marketing remark (704 chars)

    One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

15. 2026-04-30
    price $159,900 704-char remark

    Show marketing remark (704 chars)

    One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

16. 2026-04-29
    historical 704-char remark

    Show marketing remark (704 chars)

    One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

17. 2026-03-23
    price $164,900 704-char remark

    Show marketing remark (704 chars)

    One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

18. 2026-02-01
    listed $179,900 Active 704-char remark

    Show marketing remark (704 chars)

    One Bedroom unit located on the first floor with large living room, bedroom, bathroom and galley kitchen. This unit needs some updating. The location is very close to shops and near the train. The basement has the laundry room, a community room and a bicycle room as well as a fitness center. The maintenance includes, electric, gas, water and maintenance of common areas and the exterior. There is a surcharge of $60 monthly per AC unit in the months June through September. The parking garage and the outdoor parking lots are wait-listed. Street parking is Free. The Board requires the following: 20% downpayment; 700 min credit score; DTI of 33%; overall debt can not exceed 38% of net income.

ⓘ 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: $34,821
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$2,786
• − Management: −$2,786
• − Depreciation: −$4,070
• Taxable income: $14,545
• Est. tax owed @ 24.0%: −$3,491
• After-tax cash flow: $12,416/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations, focusing on electrical safety, aesthetics, and landscaping to improve its value.

Repairs flagged

• Major Exposed electrical wiring — Safety hazard
• Major Missing cabinet doors — Aesthetics and functionality
• Major Peeling paint — Safety hazard and aesthetics

Value-add opportunities

• Both Painting and updating electrical wiring — Improves aesthetics and safety
• Both Replacing missing cabinet doors — Enhances functionality and aesthetics
• Both Landscaping and snow removal — Enhances curb appeal and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed electrical wiring · Safety hazard	Major	$15,000–50,000
Missing cabinet doors · Aesthetics and functionality	Major	$15,000–50,000
Peeling paint · Safety hazard and aesthetics	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting and updating electrical wiring — Improves aesthetics and safety ↑
• Both Replacing missing cabinet doors — Enhances functionality and aesthetics ↑
• Both Landscaping and snow removal — Enhances curb appeal and safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-11.1% since first listed

5 events — show timeline

• 2026-04-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $159,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $164,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-01 Listed $179,900 OneKey® MLS as Distributed by MLS Grid