24 Ondaora Pkwy · Highland Falls, NY 10928

$395,000

3 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 2 Days on market

Built 1955 0.25 ac lot $263/sqft · 26% below area Est $535k · 26% under $10/mo HOA

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• Schools +4.6/10.0
• Cash flow +4.0/30.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0

Listing remarks

Don’t miss this opportunity to own a 3 bedroom, 2 full bathroom home with in desirable Ondaora Park near West Point. Highlights include a wood-burning fireplace, a large backyard perfect for entertaining, and hardwood floors throughout, with more hardwood beneath carpet in the primary bedroom and living room ready to be uncovered. Located within the Highland Falls Central School District. Being sold as is.

Key facts

• 0.25 acre lot
• Built 1955
• Listed 2 days

Property features AI

Finance

• HOA & community: Has association (Ondaora Park); Annual association fee of $120; Community park

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Public sewer; Sewer connected; Public trash collection; Electric service by Orange & Rockland
• Home design: Single family residence; One story
• Construction: Block foundation
• Exterior features: Block and wood siding construction; Not waterfront; Public records used for living area

Interior

• Kitchen: Dishwasher; Gas cooktop; Oven; Refrigerator
• Bedrooms: Total rooms: 9
• Bathrooms: 2 full bathrooms
• Heating & cooling: Oil heating; No central air
• Interior features: Formal dining area; Kitchen island; Primary bathroom; Pull-down attic stairs; Unfinished basement with walk-out access
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (46.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (34.9% below list).
• Recommended offer: $212k (46.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#335 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D, amenities F, commute F.
• Highland Falls Central School District (rural): math 53% / reading 47% proficiency, ranked #328 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fort Montgomery Elementary School (201 students, 52% FRL); Highland Falls Intermediate School (math 32% / reading 47%, grade F, #418 of 729 statewide, top 59%, 324 students, 56% FRL); James I O'Neill High School (math 87% / reading 70%, grade A-, #568 of 1,100 statewide, top 52%, 424 students, 30% FRL).
• Market conditions: 19 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (9.7% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,268 (46.3% below list)

Questions for the listing agent

1. 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?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 2.96%
• Cash-on-cash: -11.92%
• DSCR: 0.47
• GRM: 12.8

CMA / ARV

• ARV (median comp): $534,596
• List price: $395,000
• Delta: -26.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Walker Rd	0.22mi	2/1.5 (-1)	1,500 (-0%)	18mo	$395,000	$263	67
21 Pellwood Lake Rd	0.30mi	3/2.5	1,625 (+8%)	12mo	$535,000	$329	61
99 Main St	0.09mi	2/2.0 (-1)	1,636 (+9%)	22mo	$446,000	$273	58
7 Weyant Ter	0.71mi	4/2.0 (+1)	1,556 (+4%)	5mo	$499,999	$321	52
8 Fostoria St	0.54mi	4/2.5 (+1)	1,309 (-13%)	6mo	$315,000	$241	41
16 Mountain Ave	0.65mi	4/2.0 (+1)	1,318 (-12%)	6mo	$435,000	$330	39
7 Maple Ave	0.57mi	2/1.0 (-1)	1,360 (-10%)	24mo	$412,000	$303	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $133,042
• Equity at exit: $347,120

10-year hold

• IRR: 14.6%
• Equity multiple: 5.06×
• Total profit: $448,706
• Equity at exit: $739,479

Cash invested: $110,600 (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 10928

• Home prices YoY: 3.5%
• Active inventory: 19
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,572 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$884 /mo · $10,613/yr
• Insurance: −$165
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$10
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $-1,165

Break-even live

Break-even rent $4,047

Max offer price $212,268

Occupancy floor —

Sensitivity live

Price	-10% $-942	-5% $-1,053	+0% $-1,165	+5% $-1,277	+10% $-1,389
Rent	-10% $-1,368	-5% $-1,267	+0% $-1,165	+5% $-1,064	+10% $-962
Rate	-1.0pp $-966	-0.5pp $-1,065	base $-1,165	+0.5pp $-1,267	+1.0pp $-1,372

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Center St Unit 1 Highland Falls, NY	2.0	1.0	1150	$1,800	$1.57	15d	1	0.67mi
3 Muller Ave Highland Falls, NY	3.0	1.5	1836	$2,800	$1.53	15d	1	0.82mi
27 Church St Unit B Highland Falls, NY	3.0	2.5	1600	$3,200	$2.00	15d	1	0.91mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 3 events

1. 2026-05-30
   status $395,000 Pending 2 DOM
2. 2026-05-02
   listed $395,000 Active
3. 2026-04-23
   historical

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $10,613 · $884/mo
• Projected year-2 tax: $10,613 · $884/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $30,863
• − Mortgage interest: −$22,126
• − Property taxes: −$10,613
• − Insurance: −$2,772
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − HOA: −$120
• − Depreciation: −$11,491
• Taxable loss: −$21,198
• Est. tax savings @ 24.0%: +$5,088
• After-tax cash flow: $-8,894/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: Highland Falls Central School District
• NCES district ID: 3614430
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $79,944
• Composite: 45.68/100
• National rank: #2577
• State rank: #328 of 590 in NY

Livability — Highland Falls

• Score: 73/100
• State rank: #335
• US rank: #5653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Falls, NY
• Population (ZIP): 5,273

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 44% Hispanic / Latino 30% Two or more races 21% Black 16% Asian 5%
• Hispanic origin (detail): Puerto Rican 13% Cuban 1% Dominican 12%
• Common ancestry: Hispanic 6% Romanian 3% Scotch-Irish 3%
• Foreign-born: 19% · Canada, China
• Languages at home: 72% English-only · Spanish 16% French/Haitian/Cajun 6% Chinese 2%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.70%
• Current HPI: 284.3368
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-02 Listed $395,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Coming Soon $395,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2025): $10,613 · +40.4% YoY. Source: county tax records.