50 Sunset Rd

Montrose, NY 10548

$984,500C+

4 bd · 4.0 ba · 2,729 sqft · Built 1955 · MultiFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,622/mo
• Mortgage (P&I): −$5,163
• Tax + insurance: −$797
• HOA: −$0
• Vac / Maint / Mgmt: −$2,021
• Net cashflow: $1,641/mo
• Annual: $19,698/yr
• Cap rate: 8.29%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• 1% rule: 0.98%
• Cash to close: $275,660

Investor read

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $984k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $821/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $962k (2.3% below list).
• It's been on market 24 days — a 2% lower offer ($970k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $962k (2.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#68 in NY, #1,024 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Hendrick Hudson Central School District (suburban): math 62% / reading 72% proficiency, ranked #143 of 590 in NY (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Blue Mountain Middle School (math 47% / reading 70%, grade B, #178 of 729 statewide, top 25%, 489 students, 31% FRL); Hendrick Hudson High School (math 87% / reading 84%, grade A, #358 of 1,100 statewide, top 33%, 727 students, 31% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 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.
• Climate carrying-cost: 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

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1955 — 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.
• 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?
• 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 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.