240 Garth Rd Unit 7J2 · Eastchester, NY 10583

$459,000

2 bd · 1.5 ba · 1,100 sqft · Condo · 50 Days on market

Built 1967 $417/sqft · 58% above area

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.3/30.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

Key facts

• Top-floor corner
• Granite countertops
• Garage

Tags

• TOP-FLOOR CORNER
• PRIVATE SCREENED-IN BALCONY
• RENOVATED EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• RICH CHERRY CABINETRY

Property features AI

Finance

• Other: Property condition listed as actual
• HOA & community: Association: Garth Essex; Association amenities include elevator(s), live-in superintendent, and park; Association fee includes air conditioning, gas, heat, and hot water; Additional monthly assessment of $45.24 (ongoing)

Exterior

• Parking: On-street parking; Underground parking; Has garage
• Security: Building security; Key card entry
• Utilities: Con-Edison electric; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer connected; Public trash collection; Water connected
• Home design: Stock cooperative; Top floor (6th floor or higher); Seven-story building; Entry level 7
• Construction: Brick construction; Walk-out basement
• Exterior features: Near public transit; Near shops; Bicycle room; Park; Playground; Sidewalks; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Granite counters
• Bedrooms: Located on entry level 7
• Flooring: Hardwood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air; Wall/window unit(s); Natural gas heating; Oil heating
• Interior features: Chandelier; Elevator; Entrance foyer; Granite counters; Storage; Walk-through kitchen; Walk-in closet(s); Wall of windows; Screened porch/patio; Cats allowed
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $459k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/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 $444k (3.2% below list).
• Recommended offer: $444k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.2% in Eastchester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• 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: Greenvale School (math 88% / reading 88%, grade A+, #64 of 2,108 statewide, top 3%, 508 students, 0% FRL); 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.
• Market conditions: 293 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($445k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $260k; list at $459k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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.

Recommended offer $444,446 (3.2% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $290,412
• List price: $459,000
• Delta: 58.05%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-56,907
• Equity at exit: $68,438

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-26,757
• Equity at exit: $39,686

Cash invested: $128,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10583

• Active inventory: 293
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,444 high
• Mortgage (P&I): −$2,407
• Tax est. 1.5%: −$574 /mo · $6,885/yr
• Insurance: −$191
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $273

Break-even live

Break-even rent $4,099

Max offer price $459,000

Occupancy floor 89%

Sensitivity live

Price	-10% $590	-5% $431	+0% $273	+5% $114	+10% $-45
Rent	-10% $-78	-5% $97	+0% $273	+5% $448	+10% $624
Rate	-1.0pp $504	-0.5pp $389	base $273	+0.5pp $154	+1.0pp $33

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Harney Rd Unit 6B Scarsdale, NY	1.0	1.0	725	$2,850	$3.93	45d	1	0.17mi
36 Grand Blvd Unit 2 Scarsdale, NY	3.0	2.0	1500	$6,100	$4.07	45d	1	0.19mi
10 Wright Pl Unit C4 Scarsdale, NY	1.0	1.0	700	$2,499	$3.57	26d	1	0.31mi
10 Wright Pl Unit A5 Scarsdale, NY	1.0	1.0	700	$2,550	$3.64	18d	1	0.31mi
26 East Pkwy Unit 14A Scarsdale, NY	1.0	1.0	810	$3,500	$4.32	45d	1	0.55mi
45 Popham Rd Unit 5L Scarsdale, NY	2.0	2.0	1041	$5,100	$4.90	9d	1	0.56mi
837 White Plains Rd Unit 3R Scarsdale, NY	2.0	1.0	950	$2,500	$2.63	9d	1	0.60mi
155 White Rd Scarsdale, NY	3.0	1.5	1232	$6,900	$5.60	0d	1	1.01mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-10
   status $459,000 Pending 50 DOM
2. 2026-06-09
   days on market $459,000 Active 50 DOM
3. 2026-06-08
   days on market $459,000 Active 49 DOM
4. 2026-06-07
   days on market $459,000 Active 48 DOM
5. 2026-06-04
   days on market $459,000 Active 45 DOM
6. 2026-06-03
   days on market $459,000 Active 44 DOM
7. 2026-06-02
   days on market $459,000 Active 43 DOM
8. 2026-06-01
   days on market $459,000 Active 42 DOM
9. 2026-05-31
   days on market $459,000 Active 41 DOM
10. 2026-04-20
    listed $459,000 Active 1922-char remark
11. 2014-03-15
    price $260,000 198-char remark

    Show marketing remark (198 chars)

    Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

12. 2008-08-27
    historical 198-char remark

    Show marketing remark (198 chars)

    Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

13. 2008-08-21
    soldstatus $260,000 198-char remark

    Show marketing remark (198 chars)

    Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

14. 2008-06-16
    price $279,900 198-char remark

    Show marketing remark (198 chars)

    Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

15. 2008-01-16
    listed $279,900 198-char remark

    Show marketing remark (198 chars)

    Must sell! Present all offers. Freshly painted. Short walk to station. Free permit from town for street parking. Great closets in this open & bright unit. Capital improvement surcharge $19.77.

16. 2008-01-05
    historical
17. 2007-02-05
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,334
• − Mortgage interest: −$25,711
• − Property taxes: −$6,885
• − Insurance: −$3,092
• − Repairs & maintenance: −$4,267
• − Management: −$4,267
• − Depreciation: −$13,353
• Taxable loss: −$4,241
• Est. tax savings @ 24.0%: +$1,018
• After-tax cash flow: $4,289/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Eastchester Union Free School District
• NCES district ID: 3610080
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 80% ▲ 9.00%
• Median HH income: $96,944
• Composite: 71.74/100
• National rank: #216
• State rank: #42 of 590 in NY

Livability — Eastchester

• Score: 78/100
• State rank: #159
• US rank: #2451

Category grades

Amenities D- Commute A+ Cost of living F Crime A+ Employment A+ Housing A Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastchester, NY
• County: Westchester County · 709,332 people
• City population: 10,274
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,207
• Household income: $250,001
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 560.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Asian 20% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 5% Italian 3%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Chinese 6% Spanish 5%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -851.83%
• Current HPI: 283.4725
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+64.0% since first listed

9 events — show timeline

• 2026-06-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Listed $459,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $260,000 HGMLS
• 2008-08-27 Delisted — HGMLS
• 2008-08-21 Sold (MLS) $260,000 HGMLS
• 2008-06-16 Price Changed $279,900 HGMLS
• 2008-01-16 Listed $279,900 HGMLS
• 2008-01-05 Delisted — HGMLS
• 2007-02-05 Listed — HGMLS