55 Central Ave #514

White Plains, NY 10606

$140,000A-

1 bd · 1.0 ba · 725 sqft · Built 1968 · Townhouse · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,744/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$576
• Net cashflow: $1,200/mo
• Annual: $14,401/yr
• Cap rate: 16.58%
• Cash-on-cash: 36.74%
• DSCR: 2.63
• 1% rule: 1.96%
• Cash to close: $39,200

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $140k. Condition is rated good.
• 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 ($3k rent vs $140k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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; 86 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• 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.
• Cap rate 16.6% vs local median 4.2% 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.

Questions for listing agent

• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.