264 Orange Tpke

Sloatsburg, NY 10974

$799,000D+

None bd · None ba · 1,870 sqft · Built 1930 · MultiFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,200/mo
• Mortgage (P&I): −$4,190
• Tax + insurance: −$1,332
• HOA: −$0
• Vac / Maint / Mgmt: −$1,512
• Net cashflow: $166/mo
• Annual: $1,995/yr
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• 1% rule: 0.90%
• Cash to close: $223,720

Investor read

• This is a multifamily listed at $799k. Condition is rated fair.
• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $720k (9.9% below list).
• It's been on market 73 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $720k (9.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#727 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety F.
• Suffern Central School District (suburban): math 53% / reading 59% proficiency, ranked #242 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Sloatsburg Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 223 students, 0% FRL); Suffern Middle School (math 30% / reading 56%, grade D-, #370 of 729 statewide, top 51%, 836 students, 38% FRL); Suffern Senior High School (math 96% / reading 95%, grade A+, #76 of 1,100 statewide, top 7%, 1,486 students, 31% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Questions for listing agent

• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 10% 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 1930 — 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: landscaping — The landscaping is overgrown and in poor condition, requiring significant work to improve curb appeal.
• Moderate: exterior siding — The exterior siding appears to be in fair condition with some discoloration and minor wear, requiring some repairs.
• Moderate: interior walls/paint — The interior walls and paint appear to be in fair condition with some discoloration and minor wear, requiring some repairs.