10 Oakwood Ter #88

New Windsor, NY 12553

$190,000F

2 bd · 1.0 ba · 950 sqft · Built 1966 · Condo · Pending · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,243/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$317
• HOA: −$742
• Vac / Maint / Mgmt: −$471
• Net cashflow: $-283/mo
• Annual: $-3,394/yr
• Cap rate: 4.51%
• Cash-on-cash: -6.38%
• DSCR: 0.72
• 1% rule: 1.18%
• Cash to close: $53,200

Investor read

• This is a 2-bed/1.0-bath condo listed at $190k. Condition is rated fair.
• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• It's been on market 60 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 68/100 on livability (#529 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, employment B+; Watch: schools C-, crime C-, cost of living D+.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 169 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Minor: Paint — Some discoloration on walls
• Minor: Flooring — Carpeted floors in fair condition
• Minor: Kitchen cabinets — Dated cabinets
• Minor: Appliances — Dated appliances