14 Westview Ave #310

Tuckahoe, NY 10707

$235,000D+

1 bd · 1.0 ba · 805 sqft · Built 1966 · Condo · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,936/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$392
• HOA: −$955
• Vac / Maint / Mgmt: −$616
• Net cashflow: $-260/mo
• Annual: $-3,120/yr
• Cap rate: 4.97%
• Cash-on-cash: -4.74%
• DSCR: 0.79
• 1% rule: 1.25%
• Cash to close: $65,800

Investor read

• This is a 1-bed/1.0-bath condo listed at $235k.
• At list price, monthly cash flow is $-260 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• It's been on market 121 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#125 in NY, #2,013 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, commute A+; Watch: amenities C-, cost of living F.
• Tuckahoe Union Free School District (suburban): math 71% / reading 69% proficiency, ranked #133 of 755 in NY (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 44 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 6 sale attempts since 8y 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.
• Cap rate 5.0% vs local median 2.9% in Tuckahoe — 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 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?