39 Lindbergh Ln

New City, NY 10956

$699,000D

4 bd · 4.0 ba · 1,926 sqft · Built 1925 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,695/mo
• Mortgage (P&I): −$3,666
• Tax + insurance: −$1,558
• HOA: −$0
• Vac / Maint / Mgmt: −$1,196
• Net cashflow: $-725/mo
• Annual: $-8,705/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.45%
• DSCR: 0.80
• 1% rule: 0.81%
• Cash to close: $195,720

Investor read

• This is a 4-bed/4.0-bath single-family listed at $699k.
• At list price, monthly cash flow is $-725 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $571k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $569k (18.5% below list).
• It's been on market 51 days — a 3% lower offer ($678k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $569k (18.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#111 in NY, #1,835 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Clarkstown Central School District (suburban): math 72% / reading 75% proficiency, ranked #66 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Link Elementary School (math 67% / reading 72%, grade A-, #447 of 2,108 statewide, top 24%, 370 students, 17% FRL); Felix Festa Achievement Middle School (math 57% / reading 77%, grade A-, #101 of 729 statewide, top 15%, 640 students, 19% FRL); Clarkstown South Senior High School (math 100% / reading 90%, grade A+, #93 of 1,100 statewide, top 10%, 1,345 students, 16% FRL).
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 185 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $80k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $699k implies a 299% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% vs local median 2.8% in New City — 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 51 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1925 — 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.
• 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?
• 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.