3 Franklin Ave Unit 1N · White Plains, NY 10601

$267,900

1 bd · 1.0 ba · 850 sqft · Condo · 21 Days on market

Built 1929

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +6.1/10.0
• Schools +4.7/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 3 Franklin Avenue in White Plains. This one-bedroom units needs renovations but has been priced accordingly. If you are looking to start from scratch and make something your own, this is the unit for you. The unit features a entry hall with a closet, eat-in kitchen, spacious living room, bedroom with a walk-in closet and a full bath. This is an ideal location in the City of White Plains for non-drivers. Everything you could want is steps away. Municipal parking lots are close by. Conveniently located to the train, shopping and highways. Property to be sold in "as is" condition. This sale is subject to court approval (Not a short sale). Call today so you don't miss out on this great opportunity to be in your new home by the holidays. Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Arched doorways
• High ceilings
• Elevator building

Tags

• ELEVATOR BUILDING
• COMPLETELY RENOVATED UNIT
• ARCHED DOORWAYS
• HIGH CEILINGS
• PICTURE FRAME WALL MOLDINGS
• GLEAMING OAK FLOORS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $268k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• Recommended offer: $264k (1.5% below list) — sets the bar for market timing.

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: Rents rising fast (+4.8%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (2.7% local appreciation)).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.7% appreciation + 4.8% rent growth), your $75k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $145k; list at $268k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $263,881 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.69% appreciation · 4.82% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.86×
• Total profit: $64,834
• Equity at exit: $115,869

10-year hold

• IRR: 18.1%
• Equity multiple: 3.68×
• Total profit: $201,146
• Equity at exit: $175,078

Cash invested: $75,012 (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 10601

• Home prices YoY: 1.6%
• Rents YoY: 4.8%
• Active inventory: 87
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,966 high
• Mortgage (P&I): −$1,405
• Tax est. 1.5%: −$335 /mo · $4,018/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $491

Break-even live

Break-even rent $2,344

Max offer price $267,900

Occupancy floor 78%

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: $66,975
• Closing costs: $8,037
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Main St White Plains, NY	1.0	1.0	956	$2,825	$2.95	22d	2	0.05mi
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	4d	1	0.05mi
312 Main St Apt 2 E White Plains, NY	1.0	1.0	800	$2,450	$3.06	13d	1	0.06mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	43d	1	0.13mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	13d	1	0.13mi
1 S Broadway Apt 1L White Plains, NY	2.0	1.0	1000	$2,950	$2.95	43d	1	0.14mi
30 Lake St Apt 2I White Plains, NY	2.0	1.0	950	$3,100	$3.26	5d	1	0.21mi
10 City Pl Unit 2D White Plains, NY	1.0	1.5	1069	$3,895	$3.64	15d	1	0.22mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	1d	31	0.24mi
21 Lake St Unit 6G White Plains, NY	1.0	1.0	806	$2,650	$3.29	43d	1	0.24mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	3d	2	0.24mi
7 Lake St Unit 8k White Plains, NY	2.0	1.0	975	$3,150	$3.23	44d	1	0.24mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	18d	1	0.26mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	20d	1	0.28mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	43d	1	0.31mi
42 Barker Ave Unit 4C White Plains, NY	1.0	1.0	800	$2,300	$2.88	43d	1	0.32mi
17 Terrace Ave White Plains, NY	2.0	1.0	980	$3,500	$3.57	24d	1	0.32mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$4,038	$4.15	1d	19	0.33mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	2d	1	0.33mi
1 Lyon Pl Unit 907 White Plains, NY	2.0	2.0	1120	$4,555	$4.07	2d	1	0.33mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	1d	11	0.33mi
1 Renaissance Sq Unit 7B White Plains, NY	1.0	1.5	1048	$5,500	$5.25	43d	1	0.35mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	43d	17	0.36mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	43d	1	0.38mi
5 Cottage Pl White Plains, NY	—	1.0	577	$2,686	$4.66	13d	1	0.41mi
50 Dekalb Ave Unit N4F White Plains, NY	1.0	1.0	1000	$3,100	$3.10	20d	1	0.54mi
108 N Kensico AVE Unit 5A	2.0	1.5	950	$3,400	$3.58	24d	1	0.55mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$3,389	$2.61	1d	126	0.55mi
125 Lake St Unit 12NN White Plains, NY	2.0	1.0	850	$2,700	$3.18	43d	1	0.58mi
125 Lake St Unit 6BN White Plains, NY	2.0	2.0	975	$3,050	$3.13	44d	1	0.58mi
26 Hillside Ter Unit F White Plains, NY	1.0	1.0	782	$2,700	$3.45	43d	1	0.62mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$2,695	$3.09	5d	6	0.64mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$4,320	$4.37	1d	28	0.65mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	2d	1	0.66mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,900	$3.75	43d	2	0.66mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$2,850	$3.69	13d	2	0.66mi
4 Martine Ave White Plains, NY	1.0	1.0–1.5	773	$3,025	$3.91	18d	2	0.66mi
16 Edward St Unit 2nd floor West Harrison, NY	2.0	1.0	900	$2,600	$2.89	43d	1	0.69mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$2,850	$3.44	2d	12	0.69mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$2,715	$2.91	1d	20	0.73mi

HOA detail condo

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

Listing history 5 events

1. 2026-04-03
   status Pending
2. 2026-03-10
   listed $267,900 Active
3. 2025-06-09
   soldstatus $145,000 Closed 826-char remark

   Show marketing remark (826 chars)

   Welcome to 3 Franklin Avenue in White Plains. This one-bedroom units needs renovations but has been priced accordingly. If you are looking to start from scratch and make something your own, this is the unit for you. The unit features a entry hall with a closet, eat-in kitchen, spacious living room, bedroom with a walk-in closet and a full bath. This is an ideal location in the City of White Plains for non-drivers. Everything you could want is steps away. Municipal parking lots are close by. Conveniently located to the train, shopping and highways. Property to be sold in "as is" condition. This sale is subject to court approval (Not a short sale). Call today so you don't miss out on this great opportunity to be in your new home by the holidays. Additional Information: HeatingFuel:Oil Above Ground,

4. 2024-12-11
   status Pending 826-char remark

   Show marketing remark (826 chars)

   Welcome to 3 Franklin Avenue in White Plains. This one-bedroom units needs renovations but has been priced accordingly. If you are looking to start from scratch and make something your own, this is the unit for you. The unit features a entry hall with a closet, eat-in kitchen, spacious living room, bedroom with a walk-in closet and a full bath. This is an ideal location in the City of White Plains for non-drivers. Everything you could want is steps away. Municipal parking lots are close by. Conveniently located to the train, shopping and highways. Property to be sold in "as is" condition. This sale is subject to court approval (Not a short sale). Call today so you don't miss out on this great opportunity to be in your new home by the holidays. Additional Information: HeatingFuel:Oil Above Ground,

5. 2024-10-02
   listed $158,500 Active 826-char remark

   Show marketing remark (826 chars)

   Welcome to 3 Franklin Avenue in White Plains. This one-bedroom units needs renovations but has been priced accordingly. If you are looking to start from scratch and make something your own, this is the unit for you. The unit features a entry hall with a closet, eat-in kitchen, spacious living room, bedroom with a walk-in closet and a full bath. This is an ideal location in the City of White Plains for non-drivers. Everything you could want is steps away. Municipal parking lots are close by. Conveniently located to the train, shopping and highways. Property to be sold in "as is" condition. This sale is subject to court approval (Not a short sale). Call today so you don't miss out on this great opportunity to be in your new home by the holidays. Additional Information: HeatingFuel:Oil Above Ground,

ⓘ 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: $35,588
• − Mortgage interest: −$15,007
• − Property taxes: −$4,018
• − Insurance: −$1,340
• − Repairs & maintenance: −$2,847
• − Management: −$2,847
• − Depreciation: −$7,793
• Taxable income: $1,736
• Est. tax owed @ 24.0%: −$417
• After-tax cash flow: $5,481/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
• County: Westchester County · 709,332 people
• City population: 61,281
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 11,930
• Household income: $85,859
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 944.0

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 0.70)
• Race & ethnicity: White 43% Hispanic / Latino 28% Black 14% Asian 12% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3% Dominican 7%
• Common ancestry: Romanian 5% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 55% English-only · Spanish 26% Other Indo-European 7% French/Haitian/Cajun 4%

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: ▲ 2.69%
• Current HPI: 170.1993
• Rent YoY: ▲ 4.82%
• 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

+69.0% since first listed

5 events — show timeline

• 2026-04-03 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Listed $267,900 OneKey® MLS as Distributed by MLS Grid
• 2025-06-09 Sold (MLS) $145,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-02 Listed $158,500 OneKey® MLS as Distributed by MLS Grid