949 Palmer Rd Unit 2G · Yonkers, NY 10708

$265,000

1 bd · 1.0 ba · 950 sqft · Condo · 29 Days on market

Built 1943 Good condition $279/sqft · 9% below area Est $291k · 9% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +11.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to make your next move? This spacious 1-bedroom, 1-bath co-op in the highly desirable Wellington offers charming garden views, full-service doorman living, and an unbeatable location just one block from beautiful Bronxville Village and the scenic Bronx River Pathway. A welcoming entry foyer opens into a generously sized living room and dining area, perfect for both relaxing and entertaining. The recently renovated kitchen features stainless steel appliances—including a refrigerator, range, microwave, and dishwasher—along with sleek quartz countertops and ample cabinetry. The tiled bathroom includes a deep soaking tub with shower, creating a perfect space to unwind. The oversized bedroom easily accommodates a bed of any size, along with additional furnishings such as nightstands, a dresser, a reading chair, or even a home office setup. Additional highlights include high ceilings, elegant crown moldings, hardwood floors, and abundant closet space throughout. Residents of the Wellington enjoy access to free storage and a well-maintained laundry room. Commuting to NYC is a breeze with Grand Central Terminal just a 31-minute train ride away. Want to stay local but don't want to drive? Bee-Line buses offer easy travel throughout much of Westchester County. Garage parking at the Wellington is waitlisted, but local Garrett Park Neighborhood street parking is available with a low-cost $25/year Yonkers permit, and free street parking is just a few blocks away. Don’t miss the opportunity to make this inviting home your own!

Key facts

• Quartz countertops
• Tiled bathroom
• Deep soaking tub

Tags

• FULL-SERVICE DOORMAN LIVING
• RECENTLY RENOVATED KITCHEN
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• TILED BATHROOM
• DEEP SOAKING TUB

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $261k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.4% in Yonkers — 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 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 246 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 29 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $261,025 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.94%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $290,839
• List price: $265,000
• Delta: -8.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.67×
• Total profit: $-24,139
• Equity at exit: $39,512

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $13,650
• Equity at exit: $22,912

Cash invested: $74,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 5 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City Yonkers: 5 Strongly Tenant-Friendly · D+20

Westchester rent guidelines board.

Methodology + full state rankings →

ZIP-level market 10708

• Rents YoY: 4.3%
• Active inventory: 246
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,705 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $239

Break-even live

Break-even rent $2,402

Max offer price $265,000

Occupancy floor 86%

Sensitivity live

Price	-10% $422	-5% $331	+0% $239	+5% $147	+10% $56
Rent	-10% $25	-5% $132	+0% $239	+5% $346	+10% $453
Rate	-1.0pp $372	-0.5pp $306	base $239	+0.5pp $170	+1.0pp $100

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	26d	1	0.33mi
64 Sagamore Rd Unit A6 Bronxville, NY	1.0	1.0	850	$2,900	$3.41	6d	1	0.47mi
64 Kensington Rd Apt 1A Bronxville, NY	1.0	1.0	800	$2,895	$3.62	13d	1	0.47mi
111 Kensington Rd Unit 8 Bronxville, NY	1.0	1.0	825	$2,650	$3.21	14d	1	0.63mi
717 Tuckahoe Rd Unit 16A Yonkers, NY	1.0	1.0	650	$2,495	$3.84	6d	1	0.70mi
1549 Central Park Ave Yonkers, NY	2.0	1.0	850	$2,400	$2.82	45d	1	0.75mi
42 Winchester Ave Unit 2A Yonkers, NY	1.0	1.0	700	$2,100	$3.00	15d	1	0.78mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	8d	1	0.79mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	11d	1	0.79mi
8 Wainwright Ave Unit 2A Yonkers, NY	—	1.0	700	$1,600	$2.29	8d	1	0.82mi
12 Wainwright Ave Apt 1B Yonkers, NY	1.0	1.0	700	$1,950	$2.79	45d	1	0.84mi
21 Scarsdale Rd Yonkers, NY	2.0	1.0	835	$3,795	$4.54	3d	21	0.86mi
28 Kenilworth Rd Unit The Cottage Yonkers, NY	1.0	1.0	600	$1,950	$3.25	15d	1	0.86mi
128 Colonial Pkwy Unit 3B Yonkers, NY	1.0	1.0	871	$2,750	$3.16	45d	1	0.90mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	45d	1	0.94mi
50 Columbus Ave Unit 817 Tuckahoe, NY	1.0	1.0	750	$3,000	$4.00	23d	1	1.04mi
4 Sadore Ln Unit 2W Yonkers, NY	1.0	1.0	800	$2,000	$2.50	18d	1	1.05mi
50 Columbus Ave Apt 909 Tuckahoe, NY	2.0	2.0	871	$3,800	$4.36	0d	1	1.06mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	26d	1	1.11mi
39 Maynard St Unit 2E Tuckahoe, NY	2.0	1.0	875	$2,650	$3.03	45d	1	1.11mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	1014	$3,956	$3.90	25d	15	1.11mi
42 Broad St W Mount Vernon, NY	3.0	1.0–2.0	955	$2,841	$2.97	0d	17	1.11mi
669 N Terrace Ave Mount Vernon, NY	1.0	1.0	750	$2,031	$2.71	26d	1	1.18mi
645 N MacQuesten Pkwy Unit 3G Mt Vernon, NY	2.0	1.0	950	$3,195	$3.36	26d	1	1.19mi
40 Jackson Ave Eastchester, NY	1.0	1.0	725	$2,950	$4.07	16d	1	1.19mi
278 Mile Square Rd Yonkers, NY	2.0	1.0	1000	$2,650	$2.65	45d	1	1.20mi
2 Consulate Dr Unit 1J Tuckahoe, NY	1.0	1.0	750	$2,700	$3.60	13d	1	1.31mi
33 William St Mount Vernon, NY	1.0–2.0	1.0	725	$1,850	$2.55	23d	2	1.32mi
671 Bronx River Rd Unit 3A Yonkers, NY	2.0	1.5	950	$3,000	$3.16	26d	1	1.38mi
200 Crescent Pl Unit 2nd fl Yonkers, NY	1.0	1.0	800	$2,300	$2.88	18d	1	1.42mi
47 Morgan St Eastchester, NY	2.0	1.0	1000	$4,000	$4.00	45d	1	1.48mi
212 Alpine Pl Tuckahoe, NY	1.0	1.0	700	$2,700	$3.86	21d	1	1.48mi

HOA detail condo

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

Listing history 2 events

1. 2026-05-11
   status Pending 1562-char remark

   Show marketing remark (1562 chars)

   Ready to make your next move? This spacious 1-bedroom, 1-bath co-op in the highly desirable Wellington offers charming garden views, full-service doorman living, and an unbeatable location just one block from beautiful Bronxville Village and the scenic Bronx River Pathway. A welcoming entry foyer opens into a generously sized living room and dining area, perfect for both relaxing and entertaining. The recently renovated kitchen features stainless steel appliances—including a refrigerator, range, microwave, and dishwasher—along with sleek quartz countertops and ample cabinetry. The tiled bathroom includes a deep soaking tub with shower, creating a perfect space to unwind. The oversized bedroom easily accommodates a bed of any size, along with additional furnishings such as nightstands, a dresser, a reading chair, or even a home office setup. Additional highlights include high ceilings, elegant crown moldings, hardwood floors, and abundant closet space throughout. Residents of the Wellington enjoy access to free storage and a well-maintained laundry room. Commuting to NYC is a breeze with Grand Central Terminal just a 31-minute train ride away. Want to stay local but don't want to drive? Bee-Line buses offer easy travel throughout much of Westchester County. Garage parking at the Wellington is waitlisted, but local Garrett Park Neighborhood street parking is available with a low-cost $25/year Yonkers permit, and free street parking is just a few blocks away. Don’t miss the opportunity to make this inviting home your own!

2. 2026-04-12
   listed $265,000 Active 1562-char remark

   Show marketing remark (1562 chars)

   Ready to make your next move? This spacious 1-bedroom, 1-bath co-op in the highly desirable Wellington offers charming garden views, full-service doorman living, and an unbeatable location just one block from beautiful Bronxville Village and the scenic Bronx River Pathway. A welcoming entry foyer opens into a generously sized living room and dining area, perfect for both relaxing and entertaining. The recently renovated kitchen features stainless steel appliances—including a refrigerator, range, microwave, and dishwasher—along with sleek quartz countertops and ample cabinetry. The tiled bathroom includes a deep soaking tub with shower, creating a perfect space to unwind. The oversized bedroom easily accommodates a bed of any size, along with additional furnishings such as nightstands, a dresser, a reading chair, or even a home office setup. Additional highlights include high ceilings, elegant crown moldings, hardwood floors, and abundant closet space throughout. Residents of the Wellington enjoy access to free storage and a well-maintained laundry room. Commuting to NYC is a breeze with Grand Central Terminal just a 31-minute train ride away. Want to stay local but don't want to drive? Bee-Line buses offer easy travel throughout much of Westchester County. Garage parking at the Wellington is waitlisted, but local Garrett Park Neighborhood street parking is available with a low-cost $25/year Yonkers permit, and free street parking is just a few blocks away. Don’t miss the opportunity to make this inviting home your own!

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 78% 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: $32,458
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,597
• − Management: −$2,597
• − Depreciation: −$7,709
• Taxable loss: −$1,386
• Est. tax savings @ 24.0%: +$333
• After-tax cash flow: $3,201/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 · 12 photos

Good 80/100 Cosmetic rehab

This 1-bedroom, 1-bath co-op is in good condition with a recently renovated kitchen and a well-maintained courtyard. It is ready for move-in and would benefit from some minor updates to the interior walls and curtains.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home
• Both Replace curtains — Fresh curtains can improve the home's curb appeal and make it more inviting

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home ↑
• Both Replace curtains — Fresh curtains can improve the home's curb appeal and make it more inviting ↑

ⓘ 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: Yonkers City School District
• NCES district ID: 3631920
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 54% ▲ 14.00%
• Median HH income: $58,042
• Composite: 41.43/100
• National rank: #3471
• State rank: #413 of 590 in NY

Livability — Yonkers

• Score: 68/100
• State rank: #528
• US rank: #9394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yonkers, NY
• County: Westchester County · 709,332 people
• City population: 212,407
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,482
• Household income: $126,343
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 357.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 10% Black 6% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 76% English-only · Spanish 10% Other Indo-European 6% Other Asian/Pacific 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: ▼ -668.11%
• Current HPI: 203.4295
• Rent YoY: ▲ 4.27%
• 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

2 events — show timeline

• 2026-05-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-12 Listed $265,000 OneKey® MLS as Distributed by MLS Grid