186 High Ridge Rd

Scotts Corners, NY 10576

$960,000D

4 bd · 2.5 ba · 2,364 sqft · Built 1962 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,250/mo
• Mortgage (P&I): −$5,034
• Tax + insurance: −$1,834
• HOA: −$0
• Vac / Maint / Mgmt: −$1,522
• Net cashflow: $-1,141/mo
• Annual: $-13,691/yr
• Cap rate: 4.87%
• Cash-on-cash: -5.09%
• DSCR: 0.77
• 1% rule: 0.76%
• Cash to close: $268,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $960k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $758k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $725k (24.5% below list).
• It's been on market 18 days — a 2% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $725k (24.5% below list) — sets the bar for 1% rule.
• In year one you build about $43k of equity ($7k loan paydown + $37k appreciation (3.8% local appreciation)).
• 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.
• Bedford Central School District (rural): math 54% / reading 60% proficiency, ranked #211 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Pound Ridge Elementary School (math 52% / reading 77%, grade B, #591 of 2,108 statewide, top 31%, 238 students, 10% FRL); Fox Lane Middle School (math 42% / reading 55%, grade C-, #300 of 729 statewide, top 41%, 765 students, 38% FRL); Fox Lane High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,241 students, 36% FRL) — zoned schools average 28% FRL vs 10% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 17y ago; this cycle's ask is 44% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $800k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 4.9% vs local median 2.4% 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?
• Built in 1962 — 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.
• 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.