23 Clearview Rd

Wingdale, NY 12594

$130,000B-

3 bd · 1.0 ba · 1,440 sqft · Built 1977 · Other · Pending · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,586/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $317/mo
• Annual: $3,802/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.46
• 1% rule: 1.22%
• Cash to close: $36,400

Investor read

• This is a 3-bed/1.0-bath other listed at $130k.
• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 101 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• In year one you build about $711 of equity ($899 loan paydown + $-188 appreciation (-0.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Dover Union Free School District (rural): math 44% / reading 48% proficiency, ranked #433 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wingdale Elementary School (246 students, 68% FRL); Dover Middle School (math 32% / reading 47%, grade F, #418 of 729 statewide, top 59%, 301 students, 68% FRL); Dover High School (math 92% / reading 74%, grade A, #435 of 1,100 statewide, top 40%, 467 students, 59% FRL) — zoned schools average 65% FRL vs 38% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 61% at this address vs 46% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Dover Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 15 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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.
• 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.