274 Maplewood Dr

Scotts Corners, NY 10590

$399,000D-

1 bd · 1.0 ba · 970 sqft · Built 1994 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,624/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$567
• HOA: −$458
• Vac / Maint / Mgmt: −$761
• Net cashflow: $-255/mo
• Annual: $-3,064/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• 1% rule: 0.91%
• Cash to close: $111,720

Investor read

• This is a 1-bed/1.0-bath single-family listed at $399k.
• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $354k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $362k (9.2% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $354k (11.3% below list) — sets the bar for cash-flow.
• 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.
• Location reads 63/100 on livability (#810 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B+; Watch: amenities F, commute F, cost of living F.
• Katonah-Lewisboro Union Free School District (suburban): math 75% / reading 82% proficiency, ranked #32 of 590 in NY (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Meadow Pond Elementary School (math 77% / reading 87%, grade A+, #138 of 2,108 statewide, top 8%, 342 students, 8% FRL); John Jay Middle School (math 58% / reading 79%, grade A, #94 of 729 statewide, top 13%, 662 students, 7% FRL); John Jay High School (math 98% / reading 82%, grade A+, #238 of 1,100 statewide, top 23%, 917 students, 9% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 54 active listings in the ZIP; 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.
• 4 sale attempts since 7y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 2.6% in Scotts Corners — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.