71 Sycamore Ave

Bethpage, NY 11714

$425,000B-

4 bd · 1.0 ba · 1,119 sqft · Built 1942 · SingleFamily · Pending · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,547/mo
• Mortgage (P&I): −$2,229
• Tax + insurance: −$569
• HOA: −$0
• Vac / Maint / Mgmt: −$955
• Net cashflow: $794/mo
• Annual: $9,527/yr
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• 1% rule: 1.07%
• Cash to close: $119,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $425k.
• At list price, monthly cash flow is $794 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• It's been on market 84 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#131 in NY, #2,116 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Bethpage Union Free School District (suburban): math 79% / reading 79% proficiency, ranked #45 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Charles Campagne School (math 77% / reading 82%, grade A, #188 of 2,108 statewide, top 11%, 402 students, 20% FRL); John F Kennedy Middle School (math 72% / reading 81%, grade A, #47 of 729 statewide, top 7%, 717 students, 24% FRL); Bethpage Senior High School (math 98% / reading 98%, grade A+, #13 of 1,100 statewide, top 2%, 932 students, 27% FRL).
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 113 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 824 units permitted in Nassau County in 2024 (153 in 5+ unit buildings).
• Nassau County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: major wind risk, 54% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 3.2% in Bethpage — 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.

Questions for listing agent

• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1942 — 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?
• 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.