609 Palmer Rd Unit 6C · Yonkers, NY 10701

$174,900

1 bd · 1.0 ba · 800 sqft · Condo · 118 Days on market

Built 1959

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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 +14.9/15.0
• 1% rule +8.7/10.0
• Cash flow +7.3/30.0
• Schools +4.1/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained and located within the highly desirable Palmer House gated cooperative community, this charming one-bedroom residence offers a blend of comfort and functionality, including a versatile bonus space perfect for a home office. The inviting eat-in kitchen features a gas range, generous cabinet storage, and plenty of counter space for meal preparation. Spacious living room boasts triple window at treetop level, filling the space with natural light, and includes quaint dining area ideal for entertaining. The bedroom enjoys double exposure, creating a bright and airy retreat. A full hall bath with a soaking tub offers unique vanity nook. Four generous closets provide excellent storage throughout. Hardwood floors. Residents of this sought-after complex enjoy 24/7 gated security, immediate assigned parking, additional storage, and convenient on-site laundry facilities. Ideally situated just one mile from Bronxville Village, with its charming shops, restaurants, and Metro-North railroad for an easy commute. Nearby Cross County and Central Park Avenue.

Key facts

• Natural light
• Eat-in kitchen
• Gas range

Tags

• PALMER HOUSE GATED COOPERATIVE
• VERSATILE BONUS SPACE
• EAT-IN KITCHEN
• GAS RANGE
• GENEROUS CABINET STORAGE
• NATURAL LIGHT

🏢 Co-op / cooperative unit. The $174,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.

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 (+4.4%/yr); 183 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 44% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $5k 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 118 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1959 — 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 $159,159 (9.0% 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 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — 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: 1.37% ✓
• Cap rate: 4.70%
• Cash-on-cash: -5.69%
• DSCR: 0.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $209,176
• List price: $174,900
• Delta: -16.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.39% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.20×
• Total profit: $-39,141
• Equity at exit: $26,078

10-year hold

• IRR: -11.0%
• Equity multiple: 0.26×
• Total profit: $-36,363
• Equity at exit: $15,122

Cash invested: $48,972 (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 10701

• Rents YoY: 4.4%
• Active inventory: 183
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,395 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA est. from 1 same-building comp: −$916
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-232

Break-even live

Break-even rent $2,689

Max offer price $141,286

Occupancy floor —

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Kenilworth Rd Unit The Cottage Yonkers, NY	1.0	1.0	600	$1,950	$3.25	14d	1	0.20mi
42 Winchester Ave Unit 2A Yonkers, NY	1.0	1.0	700	$2,100	$3.00	14d	1	0.42mi
8 Wainwright Ave Unit 2A Yonkers, NY	—	1.0	700	$1,600	$2.29	7d	1	0.53mi
278 Mile Square Rd Yonkers, NY	2.0	1.0	1000	$2,650	$2.65	43d	1	0.54mi
12 Wainwright Ave Apt 1B Yonkers, NY	1.0	1.0	700	$1,950	$2.79	43d	1	0.56mi
1549 Central Park Ave Yonkers, NY	2.0	1.0	850	$2,400	$2.82	43d	1	0.62mi
717 Tuckahoe Rd Unit 16A Yonkers, NY	1.0	1.0	650	$2,495	$3.84	4d	1	0.76mi
28 Tunis Ave Unit 2 Yonkers, NY	2.0	1.0	900	$3,000	$3.33	43d	1	0.83mi
4 Sadore Ln Unit 2W Yonkers, NY	1.0	1.0	800	$2,000	$2.50	17d	1	0.93mi
51 Parkway Rd Apt 3 Bronxville, NY	1.0	1.0	1100	$3,100	$2.82	24d	1	0.95mi
64 Kensington Rd Apt 1A Bronxville, NY	1.0	1.0	800	$2,895	$3.62	11d	1	1.01mi
85 Bennett Ave Unit 2 Yonkers, NY	2.0	1.0	1000	$2,500	$2.50	43d	1	1.04mi
64 Sagamore Rd Unit A6 Bronxville, NY	1.0	1.0	850	$2,900	$3.41	4d	1	1.05mi
111 Kensington Rd Unit 8 Bronxville, NY	1.0	1.0	825	$2,650	$3.21	13d	1	1.11mi
23 Belknap Ave Yonkers, NY	1.0	1.0	700	$2,300	$3.29	24d	1	1.14mi
128 Colonial Pkwy Unit 3B Yonkers, NY	1.0	1.0	871	$2,750	$3.16	43d	1	1.16mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	10d	1	1.19mi
1 Elm St Unit 3B Tuckahoe, NY	2.0	1.0	1100	$3,200	$2.91	7d	1	1.19mi
601 Ridge Hill Blvd Yonkers, NY	2.0	1.0–2.0	819	$3,500	$4.27	7d	14	1.19mi
23 Colin St Yonkers, NY	2.0	1.0	750	$2,500	$3.33	15d	1	1.22mi
21 Scarsdale Rd Yonkers, NY	2.0	1.0	835	$3,795	$4.54	1d	21	1.25mi
103 Burhans Ave Yonkers, NY	2.0	1.0	894	$2,000	$2.24	43d	1	1.26mi
80 W Grand St Mount Vernon, NY	1.0	1.0	850	$1,942	$2.28	24d	1	1.46mi
50 Columbus Ave Unit 817 Tuckahoe, NY	1.0	1.0	750	$3,000	$4.00	22d	1	1.48mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $174,900 Active 118 DOM
2. 2026-06-17
   days on market $174,900 Active 117 DOM
3. 2026-06-16
   days on market $174,900 Active 116 DOM
4. 2026-06-15
   days on market $174,900 Active 115 DOM
5. 2026-06-13
   days on market $174,900 Active 113 DOM
6. 2026-06-09
   days on market $174,900 Active 109 DOM
7. 2026-06-08
   days on market $174,900 Active 108 DOM
8. 2026-06-07
   days on market $174,900 Active 107 DOM
9. 2026-06-04
   days on market $174,900 Active 104 DOM
10. 2026-06-03
    days on market $174,900 Active 103 DOM
11. 2026-06-02
    days on market $174,900 Active 102 DOM
12. 2026-06-01
    days on market $174,900 Active 101 DOM
13. 2026-06-01
    price $174,900 Active 100 DOM
14. 2026-05-31
    days on market $185,000 Active 100 DOM
15. 2026-02-20
    listed $185,000 Active 1080-char remark

    Show marketing remark (1080 chars)

    Beautifully maintained and located within the highly desirable Palmer House gated cooperative community, this charming one-bedroom residence offers a blend of comfort and functionality, including a versatile bonus space perfect for a home office. The inviting eat-in kitchen features a gas range, generous cabinet storage, and plenty of counter space for meal preparation. Spacious living room boasts triple window at treetop level, filling the space with natural light, and includes quaint dining area ideal for entertaining. The bedroom enjoys double exposure, creating a bright and airy retreat. A full hall bath with a soaking tub offers unique vanity nook. Four generous closets provide excellent storage throughout. Hardwood floors. Residents of this sought-after complex enjoy 24/7 gated security, immediate assigned parking, additional storage, and convenient on-site laundry facilities. Ideally situated just one mile from Bronxville Village, with its charming shops, restaurants, and Metro-North railroad for an easy commute. Nearby Cross County and Central Park Avenue.

16. 2005-11-22
    soldstatus $119,900 49-char remark

    Show marketing remark (49 chars)

    Gated Community, Security Guard, Assigned Parking

17. 2005-09-20
    historical 49-char remark

    Show marketing remark (49 chars)

    Gated Community, Security Guard, Assigned Parking

18. 2005-08-09
    listed $119,900 49-char remark

    Show marketing remark (49 chars)

    Gated Community, Security Guard, Assigned Parking

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,745
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − HOA: −$10,992
• − Depreciation: −$5,088
• Taxable loss: −$5,229
• Est. tax savings @ 24.0%: +$1,255
• After-tax cash flow: $-1,533/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: 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): 70,676
• Household income: $64,776
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6045.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 21% Black 21% Two or more races 18% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 9% Dominican 19%
• Common ancestry: Romanian 1% Russian 1% Subsaharan African 1%
• Foreign-born: 35% · Canada, Jamaica, South Korea
• Languages at home: 45% English-only · Spanish 42% Other Indo-European 3% Arabic 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: ▼ -373.14%
• Current HPI: 332.0999
• Rent YoY: ▲ 4.39%
• 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

+54.3% since first listed

4 events — show timeline

• 2026-02-20 Listed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2005-11-22 Sold (MLS) $119,900 HGMLS
• 2005-09-20 Delisted — HGMLS
• 2005-08-09 Listed $119,900 HGMLS