193 Buckshollow Rd

Mahopac, NY 10541

$425,000D

2 bd · 1.0 ba · 1,589 sqft · Built 1920 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,529/mo
• Mortgage (P&I): −$2,229
• Tax + insurance: −$889
• HOA: −$0
• Vac / Maint / Mgmt: −$741
• Net cashflow: $-330/mo
• Annual: $-3,962/yr
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• 1% rule: 0.83%
• Cash to close: $119,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $425k.
• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $367k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $353k (17.0% below list).
• It's been on market 61 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $353k (17.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#572 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A; Watch: amenities F, commute F, cost of living F.
• Mahopac Central School District (suburban): math 61% / reading 65% proficiency, ranked #156 of 590 in NY (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 160 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $40k; list at $425k implies a 962% gain — meaningful room to come down on a strong offer.
• Cap rate 5.4% vs local median 2.3% in Mahopac — 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?
• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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.