60 Locust Ave Unit A207 · New Rochelle, NY 10801

$195,000

2 bd · 1.0 ba · 900 sqft · Condo · 89 Days on market

Built 1960

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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 +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2 bedroom 1 bathroom unit in the heart of Downtown New Rochelle. This lovely second floor unit features a convenient layout, hardwood flooring, and a newer granite kitchen with stainless steel appliances. The primary bedroom offers an abundance of natural light and includes two closets, while the second bedroom is ideal for guests and/or office space. This well-maintained complex boasts manicured, park-like grounds. Amenities include a playground, community room, bike storage, exercise room and two laundry facilities. Close proximity to major highways, Metro North, parks, restaurants, shopping, and all that the great city of New Rochelle has to offer.

Key facts

• Granite kitchen
• Garage
• Built 1960

Tags

• GRANITE KITCHEN
• STAINLESS STEEL APPLIANCES
• MANICURED PARK-LIKE GROUNDS
• CLOSE PROXIMITY TO METRO NORTH
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $195k.

Deal economics

• 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 $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.5% in New Rochelle — 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 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Trinity Elementary School (math 40% / reading 47%, grade F, #1,350 of 2,108 statewide, top 64%, 863 students, 66% FRL); Isaac E Young Middle School (math 47% / reading 62%, grade B-, #214 of 729 statewide, top 31%, 1,138 students, 76% FRL); New Rochelle High School (math 87% / reading 72%, grade A-, #518 of 1,100 statewide, top 51%, 3,076 students, 57% FRL) — zoned schools average 67% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 45% of the median local income ($86k/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 $6k 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 + 1.4% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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.

Risks & watch-outs

• 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 $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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. 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.
7. 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.
8. 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: 1.64% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.90%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.70×
• Total profit: $38,489
• Equity at exit: $29,075

10-year hold

• IRR: 25.1%
• Equity multiple: 3.02×
• Total profit: $110,449
• Equity at exit: $16,860

Cash invested: $54,600 (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 10801

• Rents YoY: 1.4%
• Active inventory: 138
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,197 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $1,178

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 58%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	0.09mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$7,811	$9.25	1d	31	0.23mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$5,113	$6.90	1d	14	0.24mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	3d	1	0.24mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$4,540	$5.90	2d	50	0.24mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$5,214	$5.73	1d	28	0.25mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	821	$2,099	$2.56	6d	1	0.33mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$4,192	$4.57	1d	51	0.35mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	15d	1	0.35mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$3,631	$4.05	2d	31	0.38mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$3,987	$5.07	1d	17	0.40mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,595	$2.88	11d	2	0.43mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	7d	1	0.43mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,595	$3.01	1d	2	0.43mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$4,625	$4.68	5d	8	0.43mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$3,780	$4.94	1d	15	0.43mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$4,785	$5.61	2d	12	0.44mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,897	$5.21	4d	12	0.45mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,812	$4.81	1d	11	0.46mi
230 Pelham Rd Unit 6F New Rochelle, NY	1.0	1.0	800	$1,995	$2.49	43d	1	0.46mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$3,575	$4.75	4d	6	0.48mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	17d	1	0.51mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	10d	10	0.53mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	43d	1	0.55mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	43d	1	0.62mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	43d	1	0.80mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	7d	1	0.85mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	20d	1	0.88mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	17d	1	0.93mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	43d	1	0.94mi
120 Stonelea Pl Apt 3M New Rochelle, NY	1.0	1.0	750	$2,300	$3.07	19d	1	0.95mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	43d	1	0.95mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	13d	1	0.95mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	4d	1	1.00mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	43d	1	1.00mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	2d	1	1.00mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	43d	1	1.03mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	1.05mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	43d	1	1.05mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	43d	1	1.05mi

HOA detail condo

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

Listing history 4 events

1. 2026-01-22
   status Pending
2. 2025-10-23
   listed $195,000 Active
3. 2005-02-12
   historical
4. 2004-08-13
   listed

ⓘ 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 1/10 Low
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,367
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$3,069
• − Management: −$3,069
• − Depreciation: −$5,673
• Taxable income: $11,733
• Est. tax owed @ 24.0%: −$2,816
• After-tax cash flow: $11,323/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: New Rochelle City School District
• NCES district ID: 3620490
• Math proficiency: 63% ▲ 3.00%
• Reading proficiency: 66% ▲ 9.00%
• Median HH income: $69,165
• Composite: 56.63/100
• National rank: #1139
• State rank: #171 of 590 in NY

Livability — New Rochelle

• Score: 69/100
• State rank: #487
• US rank: #8572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Rochelle, NY
• County: Westchester County · 709,332 people
• City population: 63,657
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 42,754
• Household income: $85,573
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 2797.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 36% White 30% Black 24% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 17% Puerto Rican 5% Dominican 3%
• Common ancestry: Hispanic 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 34% · Canada, Jamaica, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 5% 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: ▼ -910.37%
• Current HPI: 270.8019
• Rent YoY: ▲ 1.42%
• 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

4 events — show timeline

• 2026-01-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-10-23 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2005-02-12 Delisted — HGMLS
• 2004-08-13 Listed — HGMLS