200 Main St

Eastchester, NY 10709

$1,498,000D

6 bd · 2.0 ba · 3,096 sqft · Built 1915 · MultiFamily · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,890/mo
• Mortgage (P&I): −$7,856
• Tax + insurance: −$2,541
• HOA: −$0
• Vac / Maint / Mgmt: −$2,287
• Net cashflow: $-1,794/mo
• Annual: $-21,524/yr
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• 1% rule: 0.73%
• Cash to close: $419,440

Investor read

• This is a 6-bed/2.0-bath multifamily listed at $1.50M.
• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.18M (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.09M (27.3% below list).
• It's been on market 135 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.09M (27.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#159 in NY, #2,451 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D-, cost of living F, health & safety D-.
• Eastchester Union Free School District (suburban): math 79% / reading 80% proficiency, ranked #42 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Eastchester Middle School (math 56% / reading 76%, grade A-, #118 of 729 statewide, top 16%, 694 students, 0% FRL); Eastchester Senior High School (math 100% / reading 84%, grade A+, #171 of 1,100 statewide, top 18%, 976 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $301k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $850k; list at $1.50M implies a 76% gain — meaningful room to come down on a strong offer.
• 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.

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 135 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.