40 Davenport Unit 2K · New Rochelle, NY 10801

$275,000

3 bd · 1.0 ba · 1,000 sqft · Condo · 62 Days on market

Built 1955 $275/sqft · at area comps Est $268k · at est. ↓ 7% since listing

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +6.3/15.0
• 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 MLS

Awesome Location.........DIRECT WATER VIEWS, Close walk to Schools, Trains, Transportation, Food, etc. Convenient, yet very quiet and wonderfully private! Marina's Edge is the only complex in ALL OF WESTCHESTER that offers a PRIVATE BEACH. You're gonna love the "easy breezy beach style living" we offer here! Open, Airy Layout: spacious 3 Bedroom, 1 Bathroom. Features one of the lowest Monthly Maintenance fees for a three bedroom unit that we've seen; $1336 includes, heat, water, and a private beach with seasonal beach access! GET MORE FOR YOUR MONEY! The unit offers: Updated Kitchen, Updated Appliances, Updated Bath, Hardwood Floors, and ample storage, garden style with one flight of stairs. Marina's Edge is a pet friendly community! Grilling and outdoor living is encouraged for owners. The neighborhood is a wonderful and conveniently located: walk to everything, Walk to Railroad, Buses, Public Parks, Delicious Restaurants, Schools, Shopping & Entertainment. Only 25 minutes to NYC/ Manhattan. Don't miss the opportunity to own this LARGE 3 bedroom Cooperative. Indoor ($125) & Outdoor ($85) Parking is available. Make it yours today!

Key facts

• Garage
• Built 1955
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $922 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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).
• At $3,573/mo this rent would consume 50% of the median local household income ($86k/yr) (locally 2797% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $258,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 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 1955 — 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: 1.30% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.37%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $267,739
• List price: $275,000
• Delta: 2.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $8,612
• Equity at exit: $41,003

10-year hold

• IRR: 10.9%
• Equity multiple: 1.79×
• Total profit: $61,091
• Equity at exit: $23,777

Cash invested: $77,000 (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: 6.4×

Monthly cashflow live

• Estimated rent: $3,573 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $922

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 69%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Acacia Ter Unit 1 New Rochelle, NY	3.0	2.0	1400	$3,800	$2.71	43d	1	0.26mi
72 Soundview St Unit 2 New Rochelle, NY	4.0	2.0	1500	$3,850	$2.57	43d	1	0.29mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,595	$3.01	1d	2	0.37mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	7d	1	0.37mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,595	$2.88	11d	2	0.37mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	18d	1	0.43mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	3d	1	0.50mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$7,811	$9.25	1d	31	0.55mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$5,214	$5.73	1d	28	0.58mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$5,113	$6.90	1d	14	0.58mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$4,540	$5.90	2d	50	0.58mi
25 Leroy Pl #1 New Rochelle, NY	2.0	2.5	1420	$3,995	$2.81	7d	1	0.63mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	43d	1	0.67mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$5,225	$5.69	1d	51	0.69mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$3,987	$5.07	1d	17	0.69mi
48 Lincoln St New Rochelle, NY	2.0	1.0	1273	$3,000	$2.36	18d	1	0.69mi
175 Huguenot St #1402 New Rochelle, NY	2.0	2.5	1475	$4,750	$3.22	24d	1	0.72mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$4,340	$4.84	2d	31	0.72mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,897	$5.21	4d	12	0.73mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,812	$4.81	1d	11	0.74mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$3,780	$4.94	1d	15	0.75mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$4,625	$4.68	5d	8	0.76mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$4,785	$5.61	2d	12	0.77mi
379 Huguenot St Unit 2 New Rochelle, NY	3.0	1.0	1150	$3,200	$2.78	24d	1	0.78mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$3,575	$4.75	4d	6	0.79mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	17d	1	1.00mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	43d	1	1.04mi
55 Moran Pl Unit 55A New Rochelle, NY	2.0	1.5	1200	$3,850	$3.21	43d	1	1.06mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	7d	1	1.09mi
194 Webster Ave Unit 1 New Rochelle, NY	3.0	1.0	1050	$3,500	$3.33	43d	1	1.14mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	20d	1	1.22mi
14 Horton Ave Unit 3rd Fl New Rochelle, NY	4.0	1.0	1300	$3,600	$2.77	43d	1	1.30mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	4d	1	1.32mi
133 Lincoln Ave Unit 1 New Rochelle, NY	3.0	1.0	1112	$6,500	$5.85	2d	1	1.34mi
26 Coligni Ave Apt 12 New Rochelle, NY	3.0	1.0	1100	$3,950	$3.59	43d	1	1.38mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	1.38mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	43d	1	1.38mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	43d	1	1.39mi
600 North Ave New Rochelle, NY	2.0	1.0–2.0	869	$4,350	$5.01	1d	11	1.47mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $275,000 Active 62 DOM
2. 2026-06-17
   days on market $275,000 Active 61 DOM
3. 2026-06-16
   days on market $275,000 Active 60 DOM
4. 2026-06-15
   days on market $275,000 Active 59 DOM
5. 2026-06-13
   days on market $275,000 Active 57 DOM
6. 2026-06-09
   days on market $275,000 Active 53 DOM
7. 2026-06-08
   days on market $275,000 Active 52 DOM
8. 2026-06-07
   days on market $275,000 Active 51 DOM
9. 2026-06-04
   days on market $275,000 Active 48 DOM
10. 2026-06-03
    days on market $275,000 Active 47 DOM
11. 2026-06-02
    days on market $275,000 Active 46 DOM
12. 2026-06-01
    days on market $275,000 Active 45 DOM
13. 2026-05-31
    days on market $275,000 Active 44 DOM
14. 2026-04-30
    price $275,000 1174-char remark

    Show marketing remark (1174 chars)

    Awesome Location.........DIRECT WATER VIEWS, Close walk to Schools, Trains, Transportation, Food, etc. Convenient, yet very quiet and wonderfully private! Marina's Edge is the only complex in ALL OF WESTCHESTER that offers a PRIVATE BEACH. You're gonna love the "easy breezy beach style living" we offer here! Open, Airy Layout: spacious 3 Bedroom, 1 Bathroom. Features one of the lowest Monthly Maintenance fees for a three bedroom unit that we've seen; $1336 includes, heat, water, and a private beach with seasonal beach access! GET MORE FOR YOUR MONEY! The unit offers: Updated Kitchen, Updated Appliances, Updated Bath, Hardwood Floors, and ample storage, garden style with one flight of stairs. Marina's Edge is a pet friendly community! Grilling and outdoor living is encouraged for owners. The neighborhood is a wonderful and conveniently located: walk to everything, Walk to Railroad, Buses, Public Parks, Delicious Restaurants, Schools, Shopping & Entertainment. Only 25 minutes to NYC/ Manhattan. Don't miss the opportunity to own this LARGE 3 bedroom Cooperative. Indoor ($125) & Outdoor ($85) Parking is available. Make it yours today!

15. 2026-04-15
    listed $295,000 Active 1174-char remark

    Show marketing remark (1174 chars)

    Awesome Location.........DIRECT WATER VIEWS, Close walk to Schools, Trains, Transportation, Food, etc. Convenient, yet very quiet and wonderfully private! Marina's Edge is the only complex in ALL OF WESTCHESTER that offers a PRIVATE BEACH. You're gonna love the "easy breezy beach style living" we offer here! Open, Airy Layout: spacious 3 Bedroom, 1 Bathroom. Features one of the lowest Monthly Maintenance fees for a three bedroom unit that we've seen; $1336 includes, heat, water, and a private beach with seasonal beach access! GET MORE FOR YOUR MONEY! The unit offers: Updated Kitchen, Updated Appliances, Updated Bath, Hardwood Floors, and ample storage, garden style with one flight of stairs. Marina's Edge is a pet friendly community! Grilling and outdoor living is encouraged for owners. The neighborhood is a wonderful and conveniently located: walk to everything, Walk to Railroad, Buses, Public Parks, Delicious Restaurants, Schools, Shopping & Entertainment. Only 25 minutes to NYC/ Manhattan. Don't miss the opportunity to own this LARGE 3 bedroom Cooperative. Indoor ($125) & Outdoor ($85) Parking is available. Make it yours today!

16. 2006-08-08
    historical
17. 2006-05-10
    listed
18. 2005-03-31
    historical
19. 2004-09-12
    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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 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: $42,870
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,430
• − Management: −$3,430
• − Depreciation: −$8,000
• Taxable income: $7,107
• Est. tax owed @ 24.0%: −$1,706
• After-tax cash flow: $9,356/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

-6.8% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Listed $295,000 OneKey® MLS as Distributed by MLS Grid
• 2006-08-08 Delisted — HGMLS
• 2006-05-10 Listed — HGMLS
• 2005-03-31 Delisted — HGMLS
• 2004-09-12 Listed — HGMLS