39 Neptune Ave · New Rochelle, NY 10805

$1,359,000

8 bd · 4.5 ba · 4,842 sqft · MultiFamily public records · 89 Days on market

Built 1914 10,454 sqft lot $281/sqft · 33% below area Est $2031k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.6/30.0
• Schools +5.7/10.0
• Appreciation +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Come fall in love with this grand 4,842 sq. ft. Colonial gem, ideally situated on a picturesque tree-lined street in New Rochelle. Blending timeless elegance with exceptional space, this expansive two-family residence is rich in architectural charm, featuring four inviting fireplaces, beautiful, beamed ceilings, and three full floors of sun-drenched living. The first floor (2,182 sq. ft.) welcomes you with an elegant entry hall leading to gracious formal living and dining rooms, each with its own fireplace. Step outside to a covered porch—perfect for al fresco dining and relaxing. A modern dine-in kitchen offers both style and functionality, while the spacious primary bedroom with stone fireplace, two additional bedrooms, hall bath, and convenient laundry/mudroom complete the level. The second & third floors (2,660 sq. ft.) provide incredible versatility, featuring a dine-in kitchen, formal dining room with fireplace, comfortable living room, three large bedrooms, a home office, and two full baths. The top floor adds even more flexibility with two additional bedrooms, bath and a bonus office space—ideal for extended family, guests, or work-from-home needs. Full basement: utility room, laundry room, Updated Weil McLean Gas Heating System & New Gas hot Water tank. Exterior Stucco freshly painted. A rare opportunity offering space, character, and multi-generational living potential in a prime location minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro-North.

Key facts

• Two-family residence
• Covered porch
• Dine-in kitchen

Tags

• TREE-LINED STREET
• TWO-FAMILY RESIDENCE
• FOUR FIREPLACES
• BEAMED CEILINGS
• COVERED PORCH
• DINE-IN KITCHEN

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.5-bath units multifamily listed at $1.36M.

Deal economics

• At list price, monthly cash flow is $-2k ($-27k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $960k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $900k (33.8% below list).
• Recommended offer: $900k (33.8% below list) — sets the bar for 1% rule.

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: 84 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $9,001/mo this rent would consume 106% of the median local household income ($102k/yr) (locally 961% 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 (-1.5%/yr); year-one equity from $9k of loan paydown is wiped out by about $20k 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 89 days — a 6% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $675k; list at $1.36M implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $900,100 (33.8% 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 89 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.66% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.13%
• DSCR: 0.68
• GRM: 12.6

CMA / ARV

• ARV (median comp): $2,030,928
• List price: $1,359,000
• Delta: -33.08%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Woodland Ave	0.24mi	7/5.0 (-1)	5,137 (+6%)	10mo	$1,260,000	$245	63
230 Drake Ave	0.24mi	8/4.0	4,237 (-12%)	7mo	$1,100,000	$260	60
52 Highland Ave	0.60mi	7/3.0 (-1)	4,160 (-14%)	18mo	$1,199,000	$288	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.28×
• Total profit: $-275,163
• Equity at exit: $297,209

10-year hold

• IRR: -11.1%
• Equity multiple: 0.10×
• Total profit: $-343,035
• Equity at exit: $286,518

Cash invested: $380,520 (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 10805

• Home prices YoY: -0.5%
• Active inventory: 84
• Price-to-rent: 25.2×

Monthly cashflow live

• Estimated rent: $9,001 medium
• Mortgage (P&I): −$7,127
• Tax from tax record: −$1,678 /mo · $20,140/yr
• Insurance: −$566
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,890
• Net cashflow: $-2,261

Break-even live

Break-even rent $11,862

Max offer price $959,671

Occupancy floor —

Sensitivity live

Price	-10% $-1,491	-5% $-1,876	+0% $-2,261	+5% $-2,645	+10% $-3,030
Rent	-10% $-2,972	-5% $-2,616	+0% $-2,261	+5% $-1,905	+10% $-1,549
Rate	-1.0pp $-1,576	-0.5pp $-1,915	base $-2,261	+0.5pp $-2,613	+1.0pp $-2,971

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$9,002
Total (2 units)			$9,001

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: $339,750
• Closing costs: $40,770
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-17
   status $1,359,000 Pending 89 DOM
2. 2026-06-17
   days on market $1,359,000 Active 89 DOM
3. 2026-06-16
   days on market $1,359,000 Active 88 DOM
4. 2026-06-15
   days on market $1,359,000 Active 87 DOM
5. 2026-06-13
   days on market $1,359,000 Active 85 DOM
6. 2026-06-09
   days on market $1,359,000 Active 81 DOM
7. 2026-06-08
   days on market $1,359,000 Active 80 DOM
8. 2026-06-07
   days on market $1,359,000 Active 79 DOM
9. 2026-06-04
   days on market $1,359,000 Active 76 DOM
10. 2026-06-03
    days on market $1,359,000 Active 75 DOM
11. 2026-06-02
    days on market $1,359,000 Active 74 DOM
12. 2026-06-01
    days on market $1,359,000 Active 73 DOM
13. 2026-05-31
    days on market $1,359,000 Active 72 DOM
14. 2026-05-17
    price $1,359,000 1568-char remark

    Show marketing remark (1568 chars)

    Come fall in love with this grand 4,842 sq. ft. Colonial gem, ideally situated on a picturesque tree-lined street in New Rochelle. Blending timeless elegance with exceptional space, this expansive two-family residence is rich in architectural charm, featuring four inviting fireplaces, beautiful, beamed ceilings, and three full floors of sun-drenched living. The first floor (2,182 sq. ft.) welcomes you with an elegant entry hall leading to gracious formal living and dining rooms, each with its own fireplace. Step outside to a covered porch—perfect for al fresco dining and relaxing. A modern dine-in kitchen offers both style and functionality, while the spacious primary bedroom with stone fireplace, two additional bedrooms, hall bath, and convenient laundry/mudroom complete the level. The second & third floors (2,660 sq. ft.) provide incredible versatility, featuring a dine-in kitchen, formal dining room with fireplace, comfortable living room, three large bedrooms, a home office, and two full baths. The top floor adds even more flexibility with two additional bedrooms, bath and a bonus office space—ideal for extended family, guests, or work-from-home needs. Full basement: utility room, laundry room, Updated Weil McLean Gas Heating System & New Gas hot Water tank. Exterior Stucco freshly painted. A rare opportunity offering space, character, and multi-generational living potential in a prime location minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro-North.

15. 2026-03-19
    listed $1,399,000 Active 1568-char remark

    Show marketing remark (1568 chars)

    Come fall in love with this grand 4,842 sq. ft. Colonial gem, ideally situated on a picturesque tree-lined street in New Rochelle. Blending timeless elegance with exceptional space, this expansive two-family residence is rich in architectural charm, featuring four inviting fireplaces, beautiful, beamed ceilings, and three full floors of sun-drenched living. The first floor (2,182 sq. ft.) welcomes you with an elegant entry hall leading to gracious formal living and dining rooms, each with its own fireplace. Step outside to a covered porch—perfect for al fresco dining and relaxing. A modern dine-in kitchen offers both style and functionality, while the spacious primary bedroom with stone fireplace, two additional bedrooms, hall bath, and convenient laundry/mudroom complete the level. The second & third floors (2,660 sq. ft.) provide incredible versatility, featuring a dine-in kitchen, formal dining room with fireplace, comfortable living room, three large bedrooms, a home office, and two full baths. The top floor adds even more flexibility with two additional bedrooms, bath and a bonus office space—ideal for extended family, guests, or work-from-home needs. Full basement: utility room, laundry room, Updated Weil McLean Gas Heating System & New Gas hot Water tank. Exterior Stucco freshly painted. A rare opportunity offering space, character, and multi-generational living potential in a prime location minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro-North.

16. 2003-03-28
    soldstatus $675,000 139-char remark

    Show marketing remark (139 chars)

    2 Separate Units Totalling Over 5000 Square Feet. Includes . 24 Acre Lot! Interior Must Be Seen To Appreciate All This House Has To Offer.

17. 2002-11-25
    historical 139-char remark

    Show marketing remark (139 chars)

    2 Separate Units Totalling Over 5000 Square Feet. Includes . 24 Acre Lot! Interior Must Be Seen To Appreciate All This House Has To Offer.

18. 2002-11-25
    price $725,000 139-char remark

    Show marketing remark (139 chars)

    2 Separate Units Totalling Over 5000 Square Feet. Includes . 24 Acre Lot! Interior Must Be Seen To Appreciate All This House Has To Offer.

19. 2002-05-19
    listed $675,000 139-char remark

    Show marketing remark (139 chars)

    2 Separate Units Totalling Over 5000 Square Feet. Includes . 24 Acre Lot! Interior Must Be Seen To Appreciate All This House Has To Offer.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $20,140 · $1,678/mo
• Projected year-2 tax: $21,553 · $1,796/mo
• Expected delta: +$1,414/yr (+$118/mo · 7.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $108,012
• − Mortgage interest: −$76,125
• − Property taxes: −$20,140
• − Insurance: −$6,795
• − Repairs & maintenance: −$8,641
• − Management: −$8,641
• − Depreciation: −$39,535
• Taxable loss: −$51,864
• Est. tax savings @ 24.0%: +$12,447
• After-tax cash flow: $-14,679/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: 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): 20,903
• Household income: $102,109
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 961.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 39% White 38% Black 17% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 15% Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 2% Russian 1% Scotch-Irish 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 7% 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: ▼ -1.48%
• Current HPI: 278.8511
• 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

+101.3% since first listed

6 events — show timeline

• 2026-05-17 Price Changed $1,359,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2003-03-28 Sold (MLS) $675,000 HGMLS
• 2002-11-25 Price Changed $725,000 HGMLS
• 2002-11-25 Delisted — HGMLS
• 2002-05-19 Listed $675,000 HGMLS

Property tax history

-1.0%/yr

Latest (2025): $20,140 · -19.9% YoY. Source: county tax records.