665 N Division St · Peekskill, NY 10566

$199,000

2 bd · 1.0 ba · 674 sqft · SingleFamily · 25 Days on market

Built 1933 7,670 sqft lot $295/sqft · 45% below area Est $360k · 45% under

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Why this score? — see what drove the C 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 +18.4/30.0
• ARV discount +15.0/15.0
• 1% rule +7.0/10.0
• DSCR +5.8/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors & Home Buyers! Priced to sell, this property is a prime opportunity with an estimated value of $317K on Zillow. Featuring 2 bedrooms plus a heated enclosed porch—perfect for a home office—along with a spacious attic and full basement offering additional potential. Renovation needed, making it ideal for investors or buyers looking to customize and build equity. At this price point, opportunities like this are rare—don’t miss out. Sold as Is. Cash.

Key facts

• Spacious attic
• Full basement
• 7,670 sq ft lot

Tags

• HEATED ENCLOSED PORCH
• SPACIOUS ATTIC
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.2% in Peekskill — 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 79/100 on livability (#132 in NY, #2,121 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, crime A-; Watch: schools C-, amenities F, cost of living F.
• Peekskill City School District (suburban): math 37% / reading 36% proficiency, ranked #670 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 117 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• This rent runs 33% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago 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 $70k; list at $199k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 7.0

CMA / ARV

• ARV (median comp): $360,000
• List price: $199,000
• Delta: -44.72%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
665 N Division St	0.00mi	2/1.0	674 (0%)	0mo	$137,000	$203	100
615 N Division St	0.07mi	2/1.0	639 (-5%)	15mo	$210,000	$329	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.52×
• Total profit: $-26,992
• Equity at exit: $29,672

10-year hold

• IRR: -12.0%
• Equity multiple: 0.40×
• Total profit: $-33,424
• Equity at exit: $17,206

Cash invested: $55,720 (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 10566

• Home prices YoY: -23.9%
• Rents YoY: 0.1%
• Active inventory: 117
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,379 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$569 /mo · $6,830/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $184

Break-even live

Break-even rent $2,146

Max offer price $199,000

Occupancy floor 87%

Sensitivity live

Price	-10% $297	-5% $240	+0% $184	+5% $128	+10% $71
Rent	-10% $-4	-5% $90	+0% $184	+5% $278	+10% $372
Rate	-1.0pp $284	-0.5pp $235	base $184	+0.5pp $133	+1.0pp $80

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 N James St Unit D Peekskill, NY	1.0	1.0	750	$2,250	$3.00	44d	1	0.07mi
300 Highland Ave Unit 7 Peekskill, NY	1.0	1.0	660	$2,200	$3.33	20d	1	0.35mi
2 Lakeview Dr Peekskill, NY	1.0–2.0	1.0–1.5	875	$2,795	$3.19	0d	3	0.39mi
119 High St Unit 3 Peekskill, NY	1.0	1.0	582	$1,975	$3.39	16d	1	0.47mi
1108 Brown St Peekskill, NY	3.0	1.0–2.0	852	$3,038	$3.56	0d	5	0.62mi
209 S Division St Unit C Peekskill, NY	2.0	1.0	720	$2,200	$3.06	21d	1	0.67mi
207 Chateau Rive #207 Peekskill, NY	1.0	1.0	600	$2,295	$3.83	20d	1	0.83mi
305 Chateau Rive Peekskill, NY	1.0	1.5	600	$2,295	$3.83	0d	1	0.83mi
403 Chateau Rive Unit 403 Peekskill, NY	1.0	1.0	500	$2,295	$4.59	44d	1	0.86mi
304 Chateau Rive Unit 304 Peekskill, NY	1.0	1.5	700	$2,600	$3.71	0d	1	0.86mi
5307 Villa At the Woods Peekskill, NY	1.0	1.0	550	$2,000	$3.64	44d	1	0.95mi

Listing history 5 events

1. 2026-05-10
   status Pending 498-char remark

   Show marketing remark (498 chars)

   Attention Investors & Home Buyers! Priced to sell, this property is a prime opportunity with an estimated value of $317K on Zillow. Featuring 2 bedrooms plus a heated enclosed porch—perfect for a home office—along with a spacious attic and full basement offering additional potential. Renovation needed, making it ideal for investors or buyers looking to customize and build equity. At this price point, opportunities like this are rare—don’t miss out. Sold as Is. Cash.

2. 2026-04-15
   listed $199,000 Active 498-char remark

   Show marketing remark (498 chars)

   Attention Investors & Home Buyers! Priced to sell, this property is a prime opportunity with an estimated value of $317K on Zillow. Featuring 2 bedrooms plus a heated enclosed porch—perfect for a home office—along with a spacious attic and full basement offering additional potential. Renovation needed, making it ideal for investors or buyers looking to customize and build equity. At this price point, opportunities like this are rare—don’t miss out. Sold as Is. Cash.

3. 2011-08-14
   historical
4. 2011-03-08
   listed Active
5. 1994-07-22
   soldstatus $70,000

ⓘ 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: $6,830 · $569/mo
• Projected year-2 tax: $6,830 · $569/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,553
• − Mortgage interest: −$11,147
• − Property taxes: −$6,830
• − Insurance: −$995
• − Repairs & maintenance: −$2,284
• − Management: −$2,284
• − Depreciation: −$5,789
• Taxable loss: −$777
• Est. tax savings @ 24.0%: +$186
• After-tax cash flow: $2,395/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: Peekskill City School District
• NCES district ID: 3622650
• Math proficiency: 37% ▲ 4.00%
• Reading proficiency: 36% ▲ 4.00%
• Median HH income: $54,563
• Composite: 34.6/100
• National rank: #10089
• State rank: #670 of 755 in NY

Livability — Peekskill

• Score: 79/100
• State rank: #132
• US rank: #2121

Category grades

Amenities F Commute A+ Cost of living F Crime A- Employment B+ Housing B+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peekskill, NY
• County: Westchester County · 709,332 people
• City population: 25,625
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,625
• Household income: $85,954
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1507.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 46% White 32% Black 17% Two or more races 14% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3% Dominican 4%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 27% · Canada
• Languages at home: 57% English-only · Spanish 37% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.67%
• Current HPI: 307.944
• Rent YoY: ▲ 0.12%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+184.3% since first listed

5 events — show timeline

• 2026-05-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2011-08-14 Delisted — HGMLS
• 2011-03-08 Listed — HGMLS
• 1994-07-22 Sold (Public Records) $70,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $6,830 · -6.8% YoY. Source: county tax records.