9 Wykagyl Ct · Lake Carmel, NY 10512

$350,000

4 bd · 2.0 ba · 2,006 sqft · SingleFamily public records · 8 Days on market

Built 1974 10,000 sqft lot $174/sqft · 40% below area Est $585k · 40% under

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Why this score? — see what drove the B 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits near Lake Carmel! This spacious 4-bedroom, 2-bath home offers a versatile layout with a formal dining room, living room, and separate lower-level family room, along with an in-ground pool and detached oversized garage. In need of rehabilitation, this property is ideal for an end user ready to create their dream home or an investor/contractor looking for their next project. With generous space, strong potential, and a desirable setting near Lake Carmel, this is a chance to bring fresh vision and value to a property with great upside. Cash purchase or 203k loan required. Photos are digitally enhanced and staged for marketing purposes.

Key facts

• Versatile layout
• Formal dining room
• In ground pool

Tags

• IN GROUND POOL
• DETACHED OVERSIZED GARAGE
• VERSATILE LAYOUT
• FORMAL DINING ROOM

Property features AI

Exterior

• Parking: Attached garage; Detached garage; 2 garage spaces; No carport
• Utilities: Public sewer; Trash collection (public)
• Home design: Single-family residence; Living area reported from public records
• Construction: Construction materials: Other; Foundation: Other
• Exterior features: Not waterfront; Construction materials: Other; Foundation: Other

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Rooms total: 5 (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Formal dining room; Full basement; Full attic
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 9.5% vs local median 2.3% in Lake Carmel — 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 66/100 on livability (#650 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Carmel Central School District (suburban): math 46% / reading 63% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Kent Elementary School (math 37% / reading 67%, grade C-, #988 of 2,108 statewide, top 49%, 394 students, 29% FRL); George Fischer Middle School (math 21% / reading 56%, grade F, #437 of 729 statewide, top 60%, 1,130 students, 38% FRL); Carmel High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,365 students, 36% FRL) — zoned schools average 34% FRL vs 17% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 227 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $585,055
• List price: $350,000
• Delta: -40.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Worthington Dr W	0.26mi	3/1.5 (-1)	1,993 (-1%)	9mo	$462,000	$232	72
39 Worthington Dr W	0.23mi	4/1.0	1,800 (-10%)	2mo	$455,000	$253	67
10 Byram Rd	0.23mi	3/5.0 (-1)	2,100 (+5%)	4mo	$630,000	$300	62
24 Baldwin Rd	0.31mi	3/2.0 (-1)	2,200 (+10%)	13mo	$590,000	$268	54
15 Harvard Dr	0.57mi	3/2.5 (-1)	2,118 (+6%)	8mo	$510,000	$241	50
35 William St	0.56mi	3/1.5 (-1)	2,016 (+0%)	20mo	$504,000	$250	50
12 Ontario Rd	0.65mi	3/2.0 (-1)	2,084 (+4%)	11mo	$470,000	$226	49
129 W Lakeshore Dr	0.68mi	3/2.0 (-1)	2,100 (+5%)	9mo	$643,000	$306	48
21 Oneonta Rd	0.72mi	3/2.0 (-1)	1,920 (-4%)	9mo	$525,000	$273	47
1 Roslyn Rd	0.49mi	3/2.0 (-1)	1,721 (-14%)	8mo	$455,000	$264	42
135 Cottage Rd	0.55mi	3/2.0 (-1)	1,748 (-13%)	8mo	$435,000	$249	41
10 Placid Dr	0.43mi	3/2.0 (-1)	1,754 (-13%)	19mo	$412,700	$235	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-366
• Equity at exit: $52,186

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $72,512
• Equity at exit: $30,262

Cash invested: $98,000 (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 10512

• Home prices YoY: -25.5%
• Active inventory: 227
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $4,250 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $883

Break-even live

Break-even rent $3,132

Max offer price $350,000

Occupancy floor 74%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Vernon Dr Carmel, NY	3.0	2.0	2074	$4,250	$2.05	43d	1	0.98mi

Listing history 1 events

1. 2026-05-05
   listed $350,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,000
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$2,416
• − Repairs & maintenance: −$4,080
• − Management: −$4,080
• − Depreciation: −$10,182
• Taxable income: $5,386
• Est. tax owed @ 24.0%: −$1,293
• After-tax cash flow: $9,306/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: Carmel Central School District
• NCES district ID: 3606570
• Math proficiency: 46% ▼ -15.00%
• Reading proficiency: 63% ▲ 11.00%
• Median HH income: $87,665
• Composite: 50.05/100
• National rank: #1914
• State rank: #258 of 590 in NY

Livability — Lake Carmel

• Score: 66/100
• State rank: #650
• US rank: #12139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Carmel, NY
• Population (ZIP): 24,238

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 1%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 11% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.73%
• Current HPI: 258.8452
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-05 Listed $350,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+9.5%/yr

Latest (2025): $19,040 · +37.0% YoY. Source: county tax records.