7 Radcliff Dr

New City, NY 10956

$450,000D

3 bd · 1.5 ba · 1,470 sqft · Built 1955 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,013/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$1,419
• HOA: −$0
• Vac / Maint / Mgmt: −$843
• Net cashflow: $-609/mo
• Annual: $-7,305/yr
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• 1% rule: 0.89%
• Cash to close: $126,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $450k.
• At list price, monthly cash flow is $-609 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $342k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $401k (10.8% below list).
• It's been on market 15 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $342k (23.9% 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 $14k 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: Little Tor Elementary School (math 62% / reading 77%, grade A-, #447 of 2,108 statewide, top 24%, 287 students, 11% 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).
• Watch-outs: property tax is 3.1% of price; flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 185 active listings in the ZIP; 2 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: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.