219 Elm Rd · Mahopac, NY 10541

$399,900

3 bd · 2.0 ba · 1,336 sqft · SingleFamily public records · 140 Days on market

Built 1965 3,920 sqft lot $299/sqft · 14% below area Est $467k · 14% under

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Why this score? — see what drove the D 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).

• ARV discount +13.9/15.0
• Cash flow +7.7/30.0
• Schools +5.9/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss the opportunity to own this charming 3-bedroom, 2-bath home offering a galley-style kitchen, deck for outdoor enjoyment, and a classic white picket fence that adds curb appeal. The home requires TLC but offers solid potential and is conveniently located. The neighborhood is known for its quiet, lakeside setting and proximity to Lake Secor. Residents also enjoy access to local shops, dining, parks, and major roadways for commuting. Sold as-is. Buyer to pay NYS and any applicable local transfer taxes. Offers with financing must include a pre-qualification letter; cash offers must include proof of funds. Please see agent remarks for access, showing instructions, and offer presentation details.

Key facts

• 3,920 sq ft lot
• Built 1965
• Listed 139 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-468 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (12.4% below list).
• Recommended offer: $317k (20.7% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 2.3% in Mahopac — 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 67/100 on livability (#572 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A; Watch: amenities F, commute F, cost of living F.
• Mahopac Central School District (suburban): math 61% / reading 65% proficiency, ranked #156 of 590 in NY (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 160 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 142 units permitted in Putnam County in 2024 (75 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 $12k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $166k; list at $400k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.

Recommended offer $317,304 (20.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 9.5

CMA / ARV

• ARV (median comp): $466,652
• List price: $399,900
• Delta: -14.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 North Rd	0.02mi	3/2.0	1,197 (-10%)	3mo	$465,000	$388	80
323 Birch Rd	0.16mi	3/2.0	1,400 (+5%)	10mo	$470,000	$336	77
210 North Rd	0.02mi	3/1.0	1,260 (-6%)	24mo	$345,000	$274	66
126 Topland Rd	0.31mi	3/1.0	1,292 (-3%)	13mo	$383,000	$296	65
333 Rockledge Rd	0.42mi	3/2.0	1,427 (+7%)	7mo	$550,000	$385	64
317 Center Dr	0.37mi	3/2.0	1,340 (+0%)	23mo	$525,000	$392	63
84 Entrance Way	0.50mi	3/2.0	1,144 (-14%)	6mo	$535,000	$468	48
334 Wood St	0.50mi	3/1.5	1,524 (+14%)	6mo	$585,000	$384	46
337 Rockledge Rd	0.42mi	2/2.0 (-1)	1,170 (-12%)	18mo	$387,000	$331	39
42 Ivy Hill Rd	0.57mi	4/2.0 (+1)	1,513 (+13%)	13mo	$475,000	$314	36
35 Agor Ln	0.61mi	4/2.0 (+1)	1,528 (+14%)	9mo	$529,000	$346	35
214 Wood St	0.74mi	4/2.0 (+1)	1,500 (+12%)	18mo	$590,000	$393	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-94,237
• Equity at exit: $59,626

10-year hold

• IRR: -20.0%
• Equity multiple: -0.06×
• Total profit: $-119,013
• Equity at exit: $34,576

Cash invested: $111,972 (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 10541

• Home prices YoY: -25.8%
• Active inventory: 160
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,504 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$972 /mo · $11,659/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$736
• Net cashflow: $-468

Break-even live

Break-even rent $4,095

Max offer price $317,304

Occupancy floor —

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
66 Secor Rd Mahopac, NY	2.0	2.0	1100	$3,700	$3.36	43d	1	0.62mi
22 Lauro Ridge Ct Mahopac, NY	2.0	1.0	1000	$3,100	$3.10	43d	1	1.16mi

Listing history 21 events

1. 2026-06-18
   days on market $399,900 Active 140 DOM
2. 2026-06-17
   days on market $399,900 Active 139 DOM
3. 2026-06-16
   days on market $399,900 Active 138 DOM
4. 2026-06-15
   days on market $399,900 Active 137 DOM
5. 2026-06-13
   days on market $399,900 Active 135 DOM
6. 2026-06-12
   days on market $399,900 Active 134 DOM
7. 2026-06-09
   days on market $399,900 Active 131 DOM
8. 2026-06-08
   days on market $399,900 Active 130 DOM
9. 2026-06-07
   days on market $399,900 Active 129 DOM
10. 2026-06-07
    days on market $399,900 Active 128 DOM
11. 2026-06-04
    days on market $399,900 Active 125 DOM
12. 2026-06-03
    price $399,900 Active 124 DOM
13. 2026-06-02
    days on market $424,900 Active 124 DOM
14. 2026-06-01
    days on market $424,900 Active 123 DOM
15. 2026-05-31
    days on market $424,900 Active 122 DOM
16. 2026-05-12
    price $424,900 717-char remark

    Show marketing remark (717 chars)

    Don’t miss the opportunity to own this charming 3-bedroom, 2-bath home offering a galley-style kitchen, deck for outdoor enjoyment, and a classic white picket fence that adds curb appeal. The home requires TLC but offers solid potential and is conveniently located. The neighborhood is known for its quiet, lakeside setting and proximity to Lake Secor. Residents also enjoy access to local shops, dining, parks, and major roadways for commuting. Sold as-is. Buyer to pay NYS and any applicable local transfer taxes. Offers with financing must include a pre-qualification letter; cash offers must include proof of funds. Please see agent remarks for access, showing instructions, and offer presentation details.

17. 2026-04-23
    price $449,900 717-char remark

    Show marketing remark (717 chars)

    Don’t miss the opportunity to own this charming 3-bedroom, 2-bath home offering a galley-style kitchen, deck for outdoor enjoyment, and a classic white picket fence that adds curb appeal. The home requires TLC but offers solid potential and is conveniently located. The neighborhood is known for its quiet, lakeside setting and proximity to Lake Secor. Residents also enjoy access to local shops, dining, parks, and major roadways for commuting. Sold as-is. Buyer to pay NYS and any applicable local transfer taxes. Offers with financing must include a pre-qualification letter; cash offers must include proof of funds. Please see agent remarks for access, showing instructions, and offer presentation details.

18. 2026-01-29
    listed $499,900 Active 717-char remark

    Show marketing remark (717 chars)

    Don’t miss the opportunity to own this charming 3-bedroom, 2-bath home offering a galley-style kitchen, deck for outdoor enjoyment, and a classic white picket fence that adds curb appeal. The home requires TLC but offers solid potential and is conveniently located. The neighborhood is known for its quiet, lakeside setting and proximity to Lake Secor. Residents also enjoy access to local shops, dining, parks, and major roadways for commuting. Sold as-is. Buyer to pay NYS and any applicable local transfer taxes. Offers with financing must include a pre-qualification letter; cash offers must include proof of funds. Please see agent remarks for access, showing instructions, and offer presentation details.

19. 1999-09-22
    soldstatus $165,500
20. 1985-12-17
    soldstatus $109,450
21. 1976-08-23
    soldstatus $38,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $11,659 · $972/mo
• Projected year-2 tax: $11,659 · $972/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,042
• − Mortgage interest: −$22,401
• − Property taxes: −$11,659
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,363
• − Management: −$3,363
• − Depreciation: −$11,633
• Taxable loss: −$12,377
• Est. tax savings @ 24.0%: +$2,971
• After-tax cash flow: $-2,640/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.

Schools (NCES district)

• District: Mahopac Central School District
• NCES district ID: 3618120
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $103,440
• Composite: 58.66/100
• National rank: #983
• State rank: #156 of 590 in NY

Livability — Mahopac

• Score: 67/100
• State rank: #572
• US rank: #10297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 26,137
• Population (ZIP): 26,137

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 8% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 5% Other Asian/Pacific 1%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.95%
• Current HPI: 253.3461
• Rent YoY: —
• Metro: —
• 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

+1003.6% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $424,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $449,900 OneKey® MLS as Distributed by MLS Grid
• 2026-01-29 Listed $499,900 OneKey® MLS as Distributed by MLS Grid
• 1999-09-22 Sold (Public Records) $165,500 Public Records
• 1985-12-17 Sold (Public Records) $109,450 Public Records
• 1976-08-23 Sold (Public Records) $38,500 Public Records

Property tax history

+10.9%/yr

Latest (2025): $11,659 · +0.2% YoY. Source: county tax records.