48 White Plains Ave · New York, NY 10305

$399,900

2 bd · 1.5 ba · 585 sqft · SingleFamily public records · 206 Days on market

Built 1945 875 sqft lot Est $314k · 28% over

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Why this score? — see what drove the F 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 +9.4/30.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 48 White Plains Ave - Check out this great, spacious 1-family, 2-3-bedroom detached ranch in move-in condition. Minutes away from VZ Bridge, conveniently located close to parks, schools, playgrounds, beaches, boardwalks, shopping, restaurants and transportation. Featuring a wide-open layout, well-maintained kitchen, 2 large bedrooms, spacious second floor which can be used as primary bedroom with personal bathroom, private driveway and so much more! Level 1: Entry foyer, living room, kitchen, dining room, full bathroom, bedroom 1, bedroom 2. Level 2: primary bedroom, half bathroom.

Key facts

• Built 1945
• Listed 206 days

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: On-street parking
• Security:
• Utilities: 220-volt electric service
• Home design: Single family residence; Two-story home; Excellent condition
• Construction: Vinyl siding; Built approximately (year details listed as approximate)
• Exterior features: Small lot approximately 30 x 25; Zoned R3 A

Interior

• Kitchen: Refrigerator; Freezer
• Bedrooms:
• Flooring:
• Bathrooms: One full bathroom and one half bathroom (2 total)
• Heating & cooling: Natural gas heat with hot water system; Central cooling units
• Interior features: Freezer; Refrigerator; Washer; Central cooling units
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $349k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (34.8% below list).
• Recommended offer: $261k (34.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.6% in New York — 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 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+7.5%/yr); 255 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 38% of the median local income ($83k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 21y 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 $265k; list at $400k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $260,905 (34.8% 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 206 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.65% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $313,560
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
392 Maryland Ave Unit 2b	0.31mi	1/1.0 (-1)	550 (-6%)	1mo	$205,000	$373	68
26 Shaughnessy Ln	0.07mi	2/1.0	644 (+10%)	16mo	$550,000	$854	64
404 Weser Avenue Ave Unit A	0.55mi	2/1.5	624 (+7%)	15mo	$430,000	$689	51
50 Belair Rd Unit 5g	0.54mi	1/1.0 (-1)	560 (-4%)	18mo	$300,000	$536	45
249 Targee St	0.71mi	2/1.0	600 (+3%)	19mo	$225,000	$375	44

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

Projected returns pro-forma

-3.0% appreciation · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.37×
• Total profit: $-71,012
• Equity at exit: $59,626

10-year hold

• IRR: -3.5%
• Equity multiple: 0.73×
• Total profit: $-30,719
• Equity at exit: $34,576

Cash invested: $111,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 10305

• Rents YoY: 7.5%
• Active inventory: 255
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,609 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $-288

Break-even live

Break-even rent $2,974

Max offer price $349,019

Occupancy floor —

Sensitivity live

Price	-10% $-62	-5% $-175	+0% $-288	+5% $-401	+10% $-514
Rent	-10% $-494	-5% $-391	+0% $-288	+5% $-185	+10% $-82
Rate	-1.0pp $-87	-0.5pp $-186	base $-288	+0.5pp $-392	+1.0pp $-497

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Old Town Rd Unit 1k Staten Island, NY	1.0	1.0	600	$2,500	$4.17	26d	1	1.44mi

Listing history 29 events

1. 2026-05-11
   status Pending
2. 2026-03-16
   status Active
3. 2026-02-17
   historical
4. 2025-11-24
   status Active
5. 2025-02-07
   historical
6. 2024-12-04
   listed $399,900 Active
7. 2023-12-18
   historical
8. 2023-11-28
   price $399,900
9. 2023-11-20
   price $429,900
10. 2023-11-01
    listed $449,900 Active
11. 2018-04-15
    historical
12. 2017-12-27
    status Active
13. 2017-12-10
    historical
14. 2017-12-07
    price $299,000
15. 2017-12-05
    listed $249,000 Active
16. 2017-01-17
    historical
17. 2016-12-09
    listed $299,999 Active
18. 2016-02-17
    historical
19. 2014-12-24
    historical
20. 2014-12-01
    historical
21. 2014-11-29
    historical
22. 2014-06-23
    listed $265,000
23. 2010-08-09
    listed $225,000
24. 2010-07-06
    historical
25. 2010-05-28
    listed $219,000
26. 2008-07-30
    listed $289,000
27. 2006-11-01
    soldstatus $265,000
28. 2005-10-13
    listed $264,200
29. 2005-06-30
    soldstatus $107,000

ⓘ 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: $1,025 · $85/mo
• Projected year-2 tax: $3,892 · $324/mo
• Expected delta: +$2,867/yr (+$239/mo · 279.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,309
• − Mortgage interest: −$22,401
• − Property taxes: −$1,025
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,505
• − Management: −$2,505
• − Depreciation: −$11,633
• Taxable loss: −$10,760
• Est. tax savings @ 24.0%: +$2,582
• After-tax cash flow: $-874/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)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,270
• Household income: $83,413
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1647.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Asian 21% Hispanic / Latino 15% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 8%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 2%
• Foreign-born: 36% · China, Canada, Jamaica
• Languages at home: 52% English-only · Chinese 13% Russian/Polish/Slavic 12% Other Indo-European 8%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -487.06%
• Current HPI: 342.7938
• Rent YoY: ▲ 7.50%
• 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

+273.7% since first listed

29 events — show timeline

• 2026-05-11 Pending — SIBORMLS
• 2026-03-16 Relisted — SIBORMLS
• 2026-02-17 Listing Removed — SIBORMLS
• 2025-11-24 Relisted — SIBORMLS
• 2025-02-07 Listing Removed — SIBORMLS
• 2024-12-04 Listed $399,900 SIBORMLS
• 2023-12-18 Listing Removed — SIBORMLS
• 2023-11-28 Price Changed $399,900 SIBORMLS
• 2023-11-20 Price Changed $429,900 SIBORMLS
• 2023-11-01 Listed $449,900 SIBORMLS
• 2018-04-15 Listing Removed — SIBORMLS
• 2017-12-27 Relisted — SIBORMLS
• 2017-12-10 Listing Removed — SIBORMLS
• 2017-12-07 Price Changed $299,000 SIBORMLS
• 2017-12-05 Listed $249,000 SIBORMLS
• 2017-01-17 Listing Removed — SIBORMLS
• 2016-12-09 Listed $299,999 SIBORMLS
• 2016-02-17 Listing Removed — SIBORMLS
• 2014-12-24 Listing Removed — SIBORMLS
• 2014-12-01 Listing Removed — SIBORMLS
• 2014-11-29 Listing Removed — SIBORMLS
• 2014-06-23 Listed $265,000 SIBORMLS
• 2010-08-09 Listed $225,000 SIBORMLS
• 2010-07-06 Listing Removed — SIBORMLS
• 2010-05-28 Listed $219,000 SIBORMLS
• 2008-07-30 Listed $289,000 SIBORMLS
• 2006-11-01 Sold (Public Records) $265,000 Public Records
• 2005-10-13 Listed $264,200 SIBORMLS
• 2005-06-30 Sold (Public Records) $107,000 Public Records

Property tax history

+7.2%/yr

Latest (2023): $1,025 · +4.2% YoY. Source: county tax records.