43 Doxbury Ln #43

Suffern, NY 10901

$259,900D

1 bd · 1.0 ba · 670 sqft · Built 1973 · Condo · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,447/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$338
• Vac / Maint / Mgmt: −$514
• Net cashflow: $-201/mo
• Annual: $-2,408/yr
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• 1% rule: 0.94%
• Cash to close: $72,772

Investor read

• This is a 1-bed/1.0-bath condo listed at $260k. Condition is rated good.
• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (5.8% below list).
• It's been on market 105 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (11.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#546 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Richard P Connor Elementary School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 383 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).
• Market conditions: 326 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 68d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 2.9% in Suffern — 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

• 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?
• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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 B-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?