43 Glenmere Homesites Rd · Florida, NY 10921

$535,000

6 bd · 2.0 ba · 2,482 sqft · MultiFamily public records · 184 Days on market

Built 1973 6,098 sqft lot $216/sqft · 30% below area Est $761k · 30% under

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Why this score? — see what drove the B- 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Schools +5.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

If you are looking for an investment or a multi-generational living solution, come check this legal 2 family home- this property offers the best of both worlds. With two separate units, each offers 3 bedrooms and 1 bathroom. It is located in the town of Warwick - in the heart of Orange County. The average monthly rent for 3 bedrooms unit in this area is $2100 to $2500 depending on the size of the unit. It is a great investment. Please call now before this opportunity slips away!

Key facts

• Duplex home
• Located in warwick
• Two separate units

Tags

• DUPLEX HOME
• TWO SEPARATE UNITS
• LOCATED IN WARWICK
• HEART OF ORANGE COUNTY

🏷️ Possibly a rental listed for sale. The $535,000 price doesn't fit this home's estimated sale value (~$761,286) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $535k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $585/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $535k).
• Recommended offer: $471k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.1% in Florida — 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 (#304 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.
• Florida Union Free School District (town): math 63% / reading 66% proficiency, ranked #162 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Golden Hill Elementary (math 67% / reading 77%, grade A-, #378 of 2,108 statewide, top 20%, 319 students, 34% FRL); S S Seward Institute (math 62% / reading 57%, grade C+, #851 of 1,100 statewide, top 80%, 390 students, 31% FRL) — zoned schools average 32% FRL vs 16% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 active listings in the ZIP; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($471k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $535k implies a 919% gain — meaningful room to come down on a strong offer.

Recommended offer $470,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $761,286
• List price: $535,000
• Delta: -29.72%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-12,026
• Equity at exit: $79,770

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $85,951
• Equity at exit: $46,257

Cash invested: $149,800 (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 10921

• Home prices YoY: -4.9%
• Active inventory: 39
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $6,177 medium
• Mortgage (P&I): −$2,806
• Tax from tax record: −$681 /mo · $8,167/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,297
• Net cashflow: $1,171

Break-even live

Break-even rent $4,695

Max offer price $535,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,474	-5% $1,322	+0% $1,171	+5% $1,019	+10% $868
Rent	-10% $683	-5% $927	+0% $1,171	+5% $1,415	+10% $1,659
Rate	-1.0pp $1,440	-0.5pp $1,307	base $1,171	+0.5pp $1,032	+1.0pp $891

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,176
Total (2 units)			$6,177

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $535,000 Active 184 DOM
2. 2026-06-18
   days on market $535,000 Active 181 DOM
3. 2026-06-17
   days on market $535,000 Active 180 DOM
4. 2026-06-16
   days on market $535,000 Active 179 DOM
5. 2026-06-15
   days on market $535,000 Active 178 DOM
6. 2026-06-14
   days on market $535,000 Active 176 DOM
7. 2026-06-13
   days on market $535,000 Active 175 DOM
8. 2026-06-10
   days on market $535,000 Active 173 DOM
9. 2026-06-09
   days on market $535,000 Active 172 DOM
10. 2026-06-08
    days on market $535,000 Active 171 DOM
11. 2026-06-07
    days on market $535,000 Active 170 DOM
12. 2026-06-03
    days on market $535,000 Active 166 DOM
13. 2026-06-02
    days on market $535,000 Active 165 DOM
14. 2026-06-01
    days on market $535,000 Active 164 DOM
15. 2026-05-31
    days on market $535,000 Active 163 DOM
16. 2026-05-30
    days on market $535,000 Active 162 DOM
17. 2026-05-13
    status Active 486-char remark

    Show marketing remark (486 chars)

    If you are looking for an investment or a multi-generational living solution, come check this legal 2 family home- this property offers the best of both worlds. With two separate units, each offers 3 bedrooms and 1 bathroom. It is located in the town of Warwick - in the heart of Orange County. The average monthly rent for 3 bedrooms unit in this area is $2100 to $2500 depending on the size of the unit. It is a great investment. Please call now before this opportunity slips away!

18. 2026-05-12
    historical 486-char remark

    Show marketing remark (486 chars)

    If you are looking for an investment or a multi-generational living solution, come check this legal 2 family home- this property offers the best of both worlds. With two separate units, each offers 3 bedrooms and 1 bathroom. It is located in the town of Warwick - in the heart of Orange County. The average monthly rent for 3 bedrooms unit in this area is $2100 to $2500 depending on the size of the unit. It is a great investment. Please call now before this opportunity slips away!

19. 2026-03-10
    status Active 486-char remark

    Show marketing remark (486 chars)

    If you are looking for an investment or a multi-generational living solution, come check this legal 2 family home- this property offers the best of both worlds. With two separate units, each offers 3 bedrooms and 1 bathroom. It is located in the town of Warwick - in the heart of Orange County. The average monthly rent for 3 bedrooms unit in this area is $2100 to $2500 depending on the size of the unit. It is a great investment. Please call now before this opportunity slips away!

20. 2025-11-13
    soldstatus $52,500
21. 2025-11-13
    historical $2,100
22. 2025-11-12
    listed $535,000 Active 486-char remark

    Show marketing remark (486 chars)

    If you are looking for an investment or a multi-generational living solution, come check this legal 2 family home- this property offers the best of both worlds. With two separate units, each offers 3 bedrooms and 1 bathroom. It is located in the town of Warwick - in the heart of Orange County. The average monthly rent for 3 bedrooms unit in this area is $2100 to $2500 depending on the size of the unit. It is a great investment. Please call now before this opportunity slips away!

23. 2025-10-22
    price $2,100
24. 2025-10-14
    price $2,350
25. 2025-10-08
    listed $2,500
26. 1998-03-30
    soldstatus $114,000
27. 1982-10-25
    soldstatus $46,345

ⓘ 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: $8,167 · $681/mo
• Projected year-2 tax: $8,604 · $717/mo
• Expected delta: +$437/yr (+$36/mo · 5.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $74,124
• − Mortgage interest: −$29,968
• − Property taxes: −$8,167
• − Insurance: −$2,675
• − Repairs & maintenance: −$5,930
• − Management: −$5,930
• − Depreciation: −$15,564
• Taxable income: $5,890
• Est. tax owed @ 24.0%: −$1,414
• After-tax cash flow: $12,635/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: Florida Union Free School District
• NCES district ID: 3625320
• Math proficiency: 63% ▼ -3.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $78,934
• Composite: 57.57/100
• National rank: #1066
• State rank: #162 of 590 in NY

Livability — Florida

• Score: 73/100
• State rank: #304
• US rank: #5003

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: 4,358
• Population (ZIP): 4,358

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 9% Native American 5% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 5% Iranian 2% Italian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.22%
• Current HPI: 297.5238
• 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

+13.3% since first listed

11 events — show timeline

• 2026-05-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-13 Sold (Public Records) $52,500 Public Records
• 2025-11-13 Rental Removed $2,100 ONEKEY
• 2025-11-12 Listed $535,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Price Changed $2,100 ONEKEY
• 2025-10-14 Price Changed $2,350 ONEKEY
• 2025-10-08 Listed for Rent $2,500 ONEKEY
• 1998-03-30 Sold (Public Records) $114,000 Public Records
• 1982-10-25 Sold (Public Records) $46,345 Public Records

Property tax history

+2.7%/yr

Latest (2025): $8,167 · +0.6% YoY. Source: county tax records.