107 Whittier Dr

Thornwood, NY 10594

$825,000F

2 bd · 1.0 ba · 1,632 sqft · Built 1956 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,332/mo
• Mortgage (P&I): −$4,326
• Tax + insurance: −$1,175
• HOA: −$0
• Vac / Maint / Mgmt: −$700
• Net cashflow: $-2,869/mo
• Annual: $-34,428/yr
• Cap rate: 2.12%
• Cash-on-cash: -14.90%
• DSCR: 0.34
• 1% rule: 0.40%
• Cash to close: $231,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $825k.
• At list price, monthly cash flow is $-3k ($-34k/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (61.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $333k (59.6% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $318k (61.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#389 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Mount Pleasant Central School District (suburban): math 62% / reading 65% proficiency, ranked #146 of 590 in NY (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Hawthorne Elementary School (460 students, 10% FRL); Westlake Middle School (math 55% / reading 61%, grade B, #184 of 729 statewide, top 25%, 429 students, 14% FRL); Westlake High School (math 72% / reading 95%, grade A, #409 of 1,100 statewide, top 39%, 547 students, 19% FRL).
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 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.
• 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.
• Cap rate 2.1% vs local median 5.7% in Thornwood — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• Built in 1956 — 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.