16 Lake St Unit 3F · White Plains, NY 10603

$250,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 37 Days on market

Built 1966

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 16 Lake Street! Lovely Bright 2BR 2Bth with TERRACE with Quiet Scenic Park exposure This spacious residence offers brand new modern flooring, freshly painted and new carpet in bedrooms, great floor plan along with abundant closets and lovely views from the Balcony Building offers Welcoming lobby, laundry on every floor, indoor garage when available, bicycle storage room and conveniently; located to all shopping, dining, metro north RR, transportation and Park!

Key facts

• Modern flooring
• New carpet
• Freshly painted

Tags

• MODERN FLOORING
• FRESHLY PAINTED
• NEW CARPET
• GREAT FLOOR PLAN
• ABUNDANT CLOSETS
• LAUNDRY ON EVERY FLOOR

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 4.3% in White Plains — 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 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: 111 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.45% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.5%
• Equity multiple: 1.46×
• Total profit: $32,035
• Equity at exit: $37,276

10-year hold

• IRR: 20.5%
• Equity multiple: 2.74×
• Total profit: $121,462
• Equity at exit: $21,615

Cash invested: $70,000 (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 10603

• Home prices YoY: -24.2%
• Active inventory: 111
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,628 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $1,138

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 64%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	44d	1	0.07mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$5,554	$6.31	1d	31	0.11mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	43d	1	0.11mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	13d	1	0.12mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	5d	1	0.12mi
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	21d	2	0.13mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$3,240	$4.73	43d	1	0.17mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	43d	1	0.18mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	43d	1	0.20mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.20mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	20d	1	0.20mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	24d	1	0.22mi
55 N Broadway Unit 3-15H White Plains, NY	2.0	2.5	1310	$3,850	$2.94	43d	1	0.25mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	0.28mi
240 Martine Ave Apt 4G White Plains, NY	3.0	2.0	1460	$4,195	$2.87	43d	1	0.31mi
234 Martine Ave White Plains, NY	3.0	2.0	1460	$4,195	$2.87	24d	1	0.31mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	43d	1	0.32mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.36mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$5,355	$5.50	1d	19	0.41mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	24d	1	0.43mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	2d	1	0.45mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$4,375	$5.03	43d	17	0.48mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$4,961	$5.46	1d	11	0.49mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	43d	1	0.51mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	43d	1	0.52mi
42 Waller Ave White Plains, NY	2.0	1.0	1150	$3,300	$2.87	43d	1	0.53mi
115 N Broadway White Plains, NY	2.0	2.5	1450	$3,750	$2.59	43d	1	0.54mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	44d	1	0.54mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	43d	1	0.54mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$6,146	$6.22	1d	28	0.58mi
26 Fairview Ave White Plains, NY	3.0	1.5	1100	$3,600	$3.27	43d	1	0.60mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$4,195	$4.82	5d	6	0.61mi
28 Beechwood Ave West Harrison, NY	3.0	1.0	1239	$4,800	$3.87	17d	1	0.63mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	13d	2	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	18d	2	0.64mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	43d	2	0.64mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$4,295	$5.19	2d	12	0.66mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$7,098	$5.47	1d	126	0.66mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$5,064	$5.42	1d	20	0.68mi

HOA detail condo

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

Listing history 2 events

1. 2026-02-13
   status Pending
2. 2026-01-07
   listed $250,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $43,532
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,483
• − Management: −$3,483
• − Depreciation: −$7,273
• Taxable income: $10,291
• Est. tax owed @ 24.0%: −$2,470
• After-tax cash flow: $11,188/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
• City population: 61,281
• Population (ZIP): 19,201

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 0.71)
• Race & ethnicity: Hispanic / Latino 35% White 34% Black 21% Two or more races 13% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 7% Dominican 3%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 1%
• Foreign-born: 33% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 8% French/Haitian/Cajun 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: ▼ -101.72%
• Current HPI: 317.8177
• Rent YoY: —
• Metro: —
• 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

• 2026-02-13 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-07 Listed $250,000 OneKey® MLS as Distributed by MLS Grid