333 Bronx River Rd #712

Yonkers, NY 10704

$167,000C-

1 bd · 1.0 ba · 750 sqft · Built 1966 · Condo · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,389/mo
• Mortgage (P&I): −$876
• Tax + insurance: −$278
• HOA: −$748
• Vac / Maint / Mgmt: −$502
• Net cashflow: $-15/mo
• Annual: $-179/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• 1% rule: 1.43%
• Cash to close: $46,760

Investor read

• This is a 1-bed/1.0-bath condo listed at $167k.
• At list price, monthly cash flow is $-15 ($-179/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (1.3% below list).
• Meets the 1% rule at list price ($2k rent vs $167k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $165k (1.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: HOA is 31% of rent.
• Market conditions: Rents rising fast (+21.0%/yr); 166 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 3 sale attempts since 24y 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major 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.

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 1966 — 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?
• 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 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.