4 Brentwood Dr

New City, NY 10956

$624,900D

4 bd · 1.5 ba · 1,604 sqft · Built 1969 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,925/mo
• Mortgage (P&I): −$3,277
• Tax + insurance: −$1,333
• HOA: −$0
• Vac / Maint / Mgmt: −$1,034
• Net cashflow: $-719/mo
• Annual: $-8,634/yr
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• 1% rule: 0.79%
• Cash to close: $174,972

Investor read

• This is a 4-bed/1.5-bath single-family listed at $625k.
• At list price, monthly cash flow is $-719 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $498k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $492k (21.2% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $492k (21.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#111 in NY, #1,835 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Clarkstown Central School District (suburban): math 72% / reading 75% proficiency, ranked #66 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: New City Elementary School (math 67% / reading 72%, grade A-, #447 of 2,108 statewide, top 24%, 435 students, 0% FRL); Felix Festa Achievement Middle School (math 57% / reading 77%, grade A-, #101 of 729 statewide, top 15%, 640 students, 19% FRL); Clarkstown North Senior High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,234 students, 21% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 185 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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: moderate wind risk, 26% 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.
• Cap rate 4.9% vs local median 2.8% in New City — 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?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.