23 Old Mamaroneck Rd Unit 3L · White Plains, NY 10605

$279,900

2 bd · 1.0 ba · 1,100 sqft · Condo · 69 Days on market

Built 1928

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Why this score? — see what drove the D 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 +8.9/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

Key facts

• Garage
• Built 1928
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $263k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.3% vs local median 4.3% in White Plains — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#410 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: amenities F, cost of living F.
• White Plains City School District (urban): math 49% / reading 54% proficiency, ranked #313 of 590 in NY (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: White Plains Middle School (math 36% / reading 53%, grade D, #348 of 729 statewide, top 50%, 1,517 students, 50% FRL); White Plains Senior High School (math 89% / reading 67%, grade A-, #577 of 1,100 statewide, top 52%, 2,220 students, 53% FRL).
• Market conditions: Rents rising fast (+6.4%/yr); 112 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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 69 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $238k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent; built in 1928 — 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 $263,106 (6.0% 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 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — 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: 1.29% ✓
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.85
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.44% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.41×
• Total profit: $-46,203
• Equity at exit: $41,734

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $925
• Equity at exit: $24,201

Cash invested: $78,372 (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 10605

• Rents YoY: 6.4%
• Active inventory: 112
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $3,599 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA est. from 2 same-building comps: −$1,136
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $-227

Break-even live

Break-even rent $3,886

Max offer price $246,991

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-131	+0% $-227	+5% $-324	+10% $-421
Rent	-10% $-512	-5% $-370	+0% $-227	+5% $-85	+10% $57
Rate	-1.0pp $-86	-0.5pp $-156	base $-227	+0.5pp $-300	+1.0pp $-374

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Old Mamaroneck Rd Unit 2E White Plains, NY	1.0	1.0	700	$1,912	$2.73	26d	1	0.08mi
50 Dekalb Ave Unit N4F White Plains, NY	1.0	1.0	1000	$3,100	$3.10	22d	1	0.30mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$7,098	$5.47	0d	122	0.36mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	45d	1	0.45mi
42 Waller Ave White Plains, NY	2.0	1.0	1150	$3,300	$2.87	45d	1	0.45mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$4,375	$5.03	45d	17	0.49mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$4,961	$5.46	0d	11	0.50mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	4d	1	0.52mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$5,072	$5.21	0d	17	0.60mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	5d	2	0.61mi
240 Martine Ave Apt 4G White Plains, NY	3.0	2.0	1460	$4,195	$2.87	45d	1	0.69mi
234 Martine Ave White Plains, NY	3.0	2.0	1460	$4,195	$2.87	26d	1	0.69mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	17d	1	0.72mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	15d	1	0.78mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	45d	1	0.80mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	45d	1	0.82mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	15d	2	0.82mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	4d	1	0.82mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	20d	2	0.82mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	45d	2	0.82mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	23d	2	0.87mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	780	$4,295	$5.51	0d	10	0.88mi
57 Bank St Unit 1040035P White Plains, NY	2.0	1.0–2.0	726	$9,348	$12.88	4d	3	0.89mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	15d	1	0.89mi
9 Ridgeview Ave White Plains, NY	3.0	1.0	1500	$3,500	$2.33	26d	1	0.89mi
55 Bank St White Plains, NY	2.0	1.0–2.0	813	$5,418	$6.66	0d	23	0.91mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$4,093	$4.38	0d	19	0.95mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$5,554	$6.31	0d	29	0.96mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	45d	1	0.98mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$6,149	$6.22	0d	26	1.00mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$3,240	$4.73	45d	1	1.00mi
27 Barker Ave White Plains, NY	2.0	1.0–2.0	1131	$5,391	$4.76	0d	18	1.03mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	46d	1	1.04mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	7d	1	1.04mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	45d	1	1.06mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	22d	1	1.10mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	45d	1	1.11mi
55 N Broadway Unit 3-15H White Plains, NY	2.0	2.5	1310	$3,850	$2.94	45d	1	1.14mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	26d	1	1.15mi
55 McKinley Ave Unit D2-3 White Plains, NY	1.0	1.0	809	$2,400	$2.97	45d	1	1.29mi

HOA detail condo

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

Listing history 9 events

1. 2026-03-04
   status Pending
2. 2026-01-23
   price $279,900
3. 2025-12-26
   listed $289,000 Active
4. 2025-12-18
   historical $289,000
5. 2014-03-15
   price $237,500 496-char remark

   Show marketing remark (496 chars)

   Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

6. 2007-12-04
   historical 496-char remark

   Show marketing remark (496 chars)

   Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

7. 2007-12-03
   soldstatus $237,500 496-char remark

   Show marketing remark (496 chars)

   Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

8. 2007-10-12
   price $245,000 496-char remark

   Show marketing remark (496 chars)

   Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

9. 2007-09-12
   listed $245,000 496-char remark

   Show marketing remark (496 chars)

   Just move in to this centrally located 2 bedroom apt in the heart of White Plains. This wonderfully renovated apt offers new kitchen cabinets, counter tops & newer appliances, a lg living room, 2 lg bedrooms, an updated full bath, & great closet space. Old world charm featuring high ceilings, solid wood finished doors & hardwood floors with inlay throughout. Laundry in building. Waitlist for parking, permits available at Shapham Municipal across street. Seller pays flip tax.

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,183
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,455
• − Management: −$3,455
• − HOA: −$13,632
• − Depreciation: −$8,143
• Taxable loss: −$6,777
• Est. tax savings @ 24.0%: +$1,627
• After-tax cash flow: $-1,103/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: White Plains City School District
• NCES district ID: 3631260
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $78,366
• Composite: 46.72/100
• National rank: #2397
• State rank: #313 of 590 in NY

Livability — White Plains

• Score: 71/100
• State rank: #410
• US rank: #6801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: White Plains, NY
• County: Westchester County · 709,332 people
• City population: 61,281
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 19,493
• Household income: $148,982
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 581.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 9% Asian 8% Black 8%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Scotch-Irish 5% Romanian 4% Italian 1%
• Foreign-born: 24% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% Other Indo-European 5% German/W. Germanic 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: ▼ -580.55%
• Current HPI: 266.0542
• Rent YoY: ▲ 6.44%
• 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

+14.2% since first listed

9 events — show timeline

• 2026-03-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $279,900 OneKey® MLS as Distributed by MLS Grid
• 2025-12-26 Listed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-18 Coming Soon $289,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $237,500 HGMLS
• 2007-12-04 Delisted — HGMLS
• 2007-12-03 Sold (MLS) $237,500 HGMLS
• 2007-10-12 Price Changed $245,000 HGMLS
• 2007-09-12 Listed $245,000 HGMLS