4 Rose Garden Way #102

Monsey, NY 10952

$949,000C+

4 bd · 2.5 ba · 2,440 sqft · Built 2012 · Condo · Active · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $12,000/mo
• Mortgage (P&I): −$4,977
• Tax + insurance: −$1,582
• HOA: −$325
• Vac / Maint / Mgmt: −$2,520
• Net cashflow: $2,597/mo
• Annual: $31,160/yr
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• 1% rule: 1.26%
• Cash to close: $265,720

Investor read

• This is a 4-bed/2.5-bath condo listed at $949k. Condition is rated fair.
• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $949k).
• It's been on market 134 days — a 12% lower offer ($835k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $835k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#862 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A-, crime B; Watch: employment D+, schools D, amenities D.
• East Ramapo Central School District (Spring Valley) (suburban): math 22% / reading 34% proficiency, ranked #576 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 153 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $266k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major 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 9.6% vs local median 1.7% in Monsey — 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

• It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered appearance
• Minor: Paint on interior walls — Slight fading