150 Draper Ln Unit 2JN · Dobbs Ferry, NY 10522

$375,000

2 bd · 1.0 ba · 1,111 sqft · Condo · 21 Days on market

Built 1955 Good condition $338/sqft · 6% above area Est $354k · 6% over

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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 +19.9/30.0
• Schools +6.6/10.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• ARV discount +4.8/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 150 Draper Lane, Unit 2JN, in the heart of Dobbs Ferry! This bright and inviting 2-bedroom, 1-bath co-op offers a smart and versatile layout, including an additional foyer space ideal for a home office or reading nook. Recently painted and featuring a desirable southeast exposure, the unit is filled with natural light throughout the day. Enjoy the convenience of a well-maintained building with an elevator, communal laundry room, bicycle storage, and a large parking lot. Step out onto your private balcony—the perfect spot to unwind and enjoy fresh air after a long day. Ideally located just moments from Metro-North, this home is a commuter’s dream with easy access to Ma

Key facts

• Bicycle storage
• Private balcony
• Large parking lot

Tags

• ADDITIONAL FOYER SPACE
• PRIVATE BALCONY
• WELL MAINTAINED BUILDING
• COMMUNAL LAUNDRY ROOM
• BICYCLE STORAGE
• LARGE PARKING LOT

Property features AI

Finance

• HOA & community: Association: 110-150 Draper Owners Corp.; Building amenities include elevators, a live-in superintendent, and a park; Association fees include gas, heat, hot water, sewer, and water

Exterior

• Parking: Off-street and on-street parking available; Unassigned parking; Total of 1 parking space
• Utilities: Electric service by Con Edison; Public sewer; Electricity available; Natural gas available; Water available
• Home design: Stock cooperative; Three-story building; Entry at level 1; Unit located on the second floor
• Construction: Brick and frame construction; Basement with common areas and walk-out access; No attic
• Exterior features: Balcony; Near public transit; Near shops; Near school; See remarks for additional lot details

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Includes a bedroom on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Steam heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Elevator; Galley kitchen layout; Aluminum window frames; Bicycle room
• Laundry & utility: Common area laundry; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $369k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.3% in Dobbs Ferry — 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 73/100 on livability (#329 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Dobbs Ferry Union Free School District (suburban): math 66% / reading 77% proficiency, ranked #80 of 590 in NY (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Springhurst Elementary School (math 59% / reading 76%, grade B+, #524 of 2,108 statewide, top 25%, 695 students, 13% FRL); Dobbs Ferry Middle School (math 60% / reading 79%, grade A, #89 of 729 statewide, top 12%, 365 students, 15% FRL); Dobbs Ferry High School (math 98%, 455 students, 22% FRL).
• Market conditions: Rents rising (+3.8%/yr); 64 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $11k 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 21 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $369,375 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.19%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $353,771
• List price: $375,000
• Delta: 6.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-32,895
• Equity at exit: $55,914

10-year hold

• IRR: 2.1%
• Equity multiple: 1.16×
• Total profit: $16,421
• Equity at exit: $32,423

Cash invested: $105,000 (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 10522

• Rents YoY: 3.8%
• Active inventory: 64
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,855 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$810
• Net cashflow: $388

Break-even live

Break-even rent $3,365

Max offer price $375,000

Occupancy floor 85%

Sensitivity live

Price	-10% $647	-5% $517	+0% $388	+5% $258	+10% $128
Rent	-10% $83	-5% $235	+0% $388	+5% $540	+10% $692
Rate	-1.0pp $576	-0.5pp $483	base $388	+0.5pp $290	+1.0pp $192

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Main St Unit 1 Dobbs Ferry, NY	1.0	1.0	700	$2,500	$3.57	8d	1	0.27mi
86 Main St #4 Dobbs Ferry, NY	2.0	1.0	850	$4,500	$5.29	21d	1	0.27mi
73 Main St Dobbs Ferry, NY	2.0	1.0	850	$3,200	$3.76	19d	1	0.30mi
43 Main St Unit 2 Dobbs Ferry, NY	3.0	1.0	1050	$4,000	$3.81	8d	1	0.37mi
33 Devoe St Unit 1A Dobbs Ferry, NY	2.0	1.0	1000	$4,250	$4.25	19d	1	0.45mi
8 Virginia Ave Unit 1 Dobbs Ferry, NY	2.0	2.0	1120	$4,250	$3.79	44d	1	0.63mi
65 Virginia Ave Dobbs Ferry, NY	2.0	1.0	1000	$3,750	$3.75	44d	1	0.76mi
102 Broadway Dobbs Ferry, NY	2.0	1.0	800	$3,200	$4.00	24d	1	0.80mi
29 Ridge Rd Dobbs Ferry, NY	3.0	2.0	1400	$4,750	$3.39	22d	1	0.94mi
29 Ridge Rd Dobbs Ferry, NY	3.0	2.0	1400	$5,500	$3.93	10d	1	0.94mi
5 Ridge Rd Unit 2 Dobbs Ferry, NY	3.0	1.5	1419	$4,300	$3.03	44d	1	0.98mi
100 Danforth Ave Dobbs Ferry, NY	1.0–2.0	1.0–2.0	1029	$5,319	$5.17	0d	9	1.26mi
1 S Astor St Unit 302 Irvington, NY	1.0	1.0	850	$3,850	$4.53	5d	1	1.27mi

HOA detail condo

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

Listing history 1 events

1. 2026-04-27
   listed $375,000 Active 1100-char remark

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,262
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$2,672
• − Repairs & maintenance: −$3,701
• − Management: −$3,701
• − Depreciation: −$10,909
• Taxable loss: −$1,353
• Est. tax savings @ 24.0%: +$325
• After-tax cash flow: $4,975/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 2-bedroom, 1-bath co-op is in good condition with a fresh paint job and a neutral color palette. The home is move-in ready with minor repairs and maintenance needed to improve its curb appeal and energy efficiency.

Repairs flagged

• Minor kitchen backsplash — Painting the backsplash would refresh the kitchen's appearance.
• Minor bathroom walls — Painting the bathroom walls would refresh the space.
• Minor exterior siding — Inspecting and possibly repainting the siding would improve the home's curb appeal.
• Minor exterior windows — Inspecting and possibly replacing the windows would improve the home's energy efficiency and curb appeal.
• Minor HVAC system — Inspecting the HVAC system would ensure it is functioning properly and energy-efficient.
• Minor landscaping — Landscaping the front yard would improve the home's curb appeal and add value to the property.

Value-add opportunities

• Both Paint the kitchen backsplash and bathroom walls — Refreshing the interior paint would improve the home's curb appeal and add value to the property.
• Both Inspect and possibly replace the exterior windows — Improving the home's energy efficiency and curb appeal would add value to the property.
• Both Inspect the HVAC system — Ensuring the HVAC system is functioning properly and energy-efficient would add value to the property.
• Both Landscaping the front yard — Improving the home's curb appeal would add value to the property and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · Painting the backsplash would refresh the kitchen's appearance.	Minor	$500–3,000
bathroom walls · Painting the bathroom walls would refresh the space.	Minor	$500–3,000
exterior siding · Inspecting and possibly repainting the siding would improve the home's curb appeal.	Minor	$500–3,000
exterior windows · Inspecting and possibly replacing the windows would improve the home's energy efficiency and curb appeal.	Minor	$500–3,000
HVAC system · Inspecting the HVAC system would ensure it is functioning properly and energy-efficient.	Minor	$500–3,000
landscaping · Landscaping the front yard would improve the home's curb appeal and add value to the property.	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Both Paint the kitchen backsplash and bathroom walls — Refreshing the interior paint would improve the home's curb appeal and add value to the property. ↑
• Both Inspect and possibly replace the exterior windows — Improving the home's energy efficiency and curb appeal would add value to the property. ↑
• Both Inspect the HVAC system — Ensuring the HVAC system is functioning properly and energy-efficient would add value to the property. ↑
• Both Landscaping the front yard — Improving the home's curb appeal would add value to the property and make it more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dobbs Ferry Union Free School District
• NCES district ID: 3609120
• Math proficiency: 66% ▼ -5.00%
• Reading proficiency: 77% ▲ 7.00%
• Median HH income: $106,694
• Composite: 65.99/100
• National rank: #442
• State rank: #80 of 590 in NY

Livability — Dobbs Ferry

• Score: 73/100
• State rank: #329
• US rank: #5447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dobbs Ferry, NY
• County: Westchester County · 709,332 people
• City population: 11,502
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 11,502
• Household income: $165,417
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 393.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 12% Asian 10% Two or more races 8% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 4% Scotch-Irish 3% Italian 2%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 71% English-only · Other Indo-European 9% Spanish 8% Russian/Polish/Slavic 2%

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: ▼ -490.13%
• Current HPI: 286.6096
• Rent YoY: ▲ 3.79%
• 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

2 events — show timeline

• 2026-05-20 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listed $375,000 OneKey® MLS as Distributed by MLS Grid