55 Central Ave #514 · White Plains, NY 10606

$140,000

1 bd · 1.0 ba · 725 sqft · Condo · 4 Days on market

Built 1968 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Why rent when you can own this beautiful Co-op? Can we talk location? Ready to move in and under 10 minutes to the train. Close to everything including highway Apt is freshly painted and with new refrigerator and flooring. Affordable, clean, just purchase and move in! Este amplio apartamento esta listo para usted ! Venga a verlo, todo limpio , con pisos nuevos, y acabado de Pintar. Obicado a menos de dos millas del estacion de tren pero lo suficiente lejos y no se oye del apartmento. Escuelas de White Plains. Mejor que estar pagando renta.

Key facts

• Parking
• Built 1968
• Listed 4 days

Property features AI

Finance

• Other: Location: between 3rd and 5th floors; about 1.3 miles (7 minutes) to the train station
• HOA & community: Association: WEST EX ASSOCIATES, INC; Elevator(s) provided by the association; Monthly association fee (includes common area maintenance, gas, grounds care, heat, hot water, sewer, snow removal, trash, water); Additional monthly capital improvements fee of $68

Exterior

• Parking: Assigned parking (1 space); Monthly parking fee of $65
• Security: Building security; Fire alarm; Key card entry; Smoke detectors
• Utilities: Con-Edison electric service; Public sewer; Cable connected; Electricity connected; Natural gas available; Sewer connected; Trash collection (public); Water connected
• Home design: Stock cooperative; One level unit in an 8-story building; Unit entry on 5th level; Actual property condition
• Construction: Advanced framing technique; Block foundation
• Exterior features: Paved, private lot features; Bicycle room; No waterfront

Interior

• Kitchen: Range; Refrigerator; Galley-type layout
• Bedrooms: 3 rooms total (one-level unit located on 5th entry level)
• Flooring: Carpet; Combination flooring; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Built-in features; Ceiling fan(s); Elevator; Entrance foyer; Galley-type kitchen; High speed internet; Common basement with storage space; Updated/remodeled condition
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 17.7% 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: Rents flat; 54 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 31% of the median local income ($112k/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 $968 of loan paydown is wiped out by about $4k 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 + 0.4% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1968 — 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: 2.07% ✓
• Cap rate: 17.65%
• Cash-on-cash: 40.56%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: 34.1%
• Equity multiple: 2.39×
• Total profit: $54,383
• Equity at exit: $20,874

10-year hold

• IRR: 39.5%
• Equity multiple: 4.25×
• Total profit: $127,487
• Equity at exit: $12,105

Cash invested: $39,200 (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 10606

• Rents YoY: 0.4%
• Active inventory: 54
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,902 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $1,325

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,422	-5% $1,373	+0% $1,325	+5% $1,277	+10% $1,228
Rent	-10% $1,096	-5% $1,210	+0% $1,325	+5% $1,440	+10% $1,554
Rate	-1.0pp $1,396	-0.5pp $1,361	base $1,325	+0.5pp $1,289	+1.0pp $1,252

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
57 Bank St Unit 1040035P White Plains, NY	2.0	1.0–2.0	726	$7,940	$10.94	3d	3	0.45mi
57 Bank St Unit 1040036P White Plains, NY	1.0	1.0	592	$7,170	$12.11	19d	1	0.45mi
55 Bank St White Plains, NY	2.0	1.0–2.0	813	$3,878	$4.77	0d	23	0.47mi
4 Martine Ave White Plains, NY	1.0	1.0	707	$2,750	$3.89	3d	1	0.50mi
1 Martine Ave White Plains, NY	1.0–2.0	1.0–2.0	827	$2,850	$3.44	3d	12	0.53mi
250 Mamaroneck Ave White Plains, NY	1.0–3.0	1.0–2.5	1298	$3,389	$2.61	0d	122	0.55mi
34 S Lexington Ave White Plains, NY	1.0–2.0	1.0–2.0	871	$2,695	$3.09	6d	6	0.56mi
15 Bank St White Plains, NY	1.0–2.0	1.0–2.0	934	$2,715	$2.91	2d	20	0.57mi
25 N Lexington Ave White Plains, NY	3.0	1.0–2.0	988	$4,327	$4.38	0d	25	0.69mi
131 Mamaroneck Ave White Plains, NY	3.0	1.0–2.0	974	$3,900	$4.00	0d	17	0.69mi
10 Lyon Pl White Plains, NY	2.0	1.0–2.0	870	$3,405	$3.91	44d	17	0.72mi
59 Old Mamaroneck Rd Unit 2E White Plains, NY	1.0	1.0	700	$1,912	$2.73	25d	1	0.72mi
1 Lyon Pl Unit 509 White Plains, NY	1.0	1.0	668	$2,980	$4.46	3d	1	0.74mi
1 Lyon Pl Unit 103 White Plains, NY	—	1.0	406	$2,295	$5.65	3d	1	0.74mi
1 DeKalb Ave White Plains, NY	1.0	1.0	749	$3,390	$4.53	44d	1	0.74mi
210 Martine Ave Unit 5G White Plains, NY	—	1.0	550	$2,150	$3.91	19d	1	0.76mi
51 S Broadway White Plains, NY	1.0	1.0	752	$3,342	$4.44	4d	2	0.79mi
5 Cottage Pl White Plains, NY	—	1.0	577	$2,686	$4.66	14d	1	0.81mi
100 Hale Ave White Plains, NY	2.0	1.0–2.0	908	$3,993	$4.40	2d	11	0.83mi
7-11 S Broadway White Plains, NY	1.0	1.0	746	$3,295	$4.42	14d	1	0.90mi
27 Barker Ave White Plains, NY	2.0	1.0–2.0	1131	$4,144	$3.66	0d	18	0.91mi
1 S Broadway Unit 4M White Plains, NY	—	1.0	600	$2,207	$3.68	44d	1	0.91mi
169 Old Mamaroneck Rd Unit B1 White Plains, NY	—	1.0	500	$2,000	$4.00	44d	1	0.93mi
10 Franklin Ave Unit 2MEF White Plains, NY	—	1.0	422	$1,800	$4.27	44d	1	0.97mi
1 Franklin Ave Unit 4DD White Plains, NY	—	1.0	550	$1,950	$3.55	5d	1	0.97mi
37 Lake St White Plains, NY	1.0–2.0	1.0	685	$2,580	$3.76	44d	1	0.99mi
440 Hamilton Ave White Plains, NY	2.0	1.0–2.0	880	$4,078	$4.63	0d	31	0.99mi
37 Lake St Unit 2B White Plains, NY	2.0	1.0	721	$3,140	$4.36	21d	1	1.26mi

HOA detail condo

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

Listing history 5 events

1. 2026-06-17
   days on market $140,000 Active 4 DOM
2. 2026-06-16
   days on market $140,000 Active 3 DOM
3. 2026-06-15
   days on market $140,000 Active 2 DOM
4. 2026-06-13
   remarks 548-char remark
5. 2026-06-13
   listed $140,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,825
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,786
• − Management: −$2,786
• − Depreciation: −$4,073
• Taxable income: $14,538
• Est. tax owed @ 24.0%: −$3,489
• After-tax cash flow: $12,412/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 · 10 photos

Good 75/100 Cosmetic rehab

This Co-op unit is in good condition with recent updates, including new flooring and appliances, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics
• Both New flooring — New flooring improves both resale and rental value
• Both New kitchen appliances — New appliances can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both New flooring — New flooring improves both resale and rental value ↑
• Both New kitchen appliances — New appliances can attract more buyers and renters ↑

ⓘ 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: 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): 17,341
• Household income: $112,270
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 1191.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 30% Black 14% Two or more races 14% Asian 9%
• Hispanic origin (detail): Mexican 16% Puerto Rican 4% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 38% · Canada, Jamaica, China
• Languages at home: 49% English-only · Spanish 37% Other Indo-European 4% Chinese 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: ▼ -474.05%
• Current HPI: 247.9311
• Rent YoY: ▲ 0.41%
• 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

1 event — show timeline

• 2026-06-13 Listed $140,000 OneKey® MLS as Distributed by MLS Grid