Is 37 Harper St in Stamford, NY a good investment?

CashFlowRE grades it D with a 4.4% cap rate and $-366/mo modeled cash flow at a $229,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 37 Harper St?

The modeled cap rate is 4.4% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,847/month, from CashFlowRE's rent model.

D Composite 42.54

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 +11.2/15.0
Appreciation +7.6/10.0
Cash flow +6.7/30.0
Condition / age +3.8/5.0
Schools +3.4/10.0
Livability +3.4/5.0
1% rule +3.1/10.0
Rent growth +2.5/5.0
DSCR +1.0/10.0

$229,000

37 Harper St · Stamford, NY 12167

3 bd · 2.0 ba · 1,430 sqft · SingleFamily public records · 137 Days on market

Built 1987 Good condition 2.50 ac lot 1-car garage $160/sqft · 8% below area Est $249k · 8% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Looking for a village home with a country feel? Look no further. Situated on approximately 2.5 acres at the edge of Stamford Village, this 3-bedroom, 2.5-bath home offers the perfect balance of privacy, space, and convenience. A substantial yard and wooded surroundings create a peaceful setting, while village shops, restaurants, and amenities remain just minutes away. The generous acreage offers plenty of room for gardening, recreation, or simply enjoying the natural surroundings. The wraparound deck provides access to the home through three separate entrances. Inside, an expansive open floor plan connects the living room, dining area, and kitchen, creating an inviting gathering space.

Key facts

Wooded surroundings
Generous acreage
Substantial yard

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath single-family listed at $229k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-366 ($-4k/yr) — negative.
To cash-flow at today's rent, offer at most $164k (28.2% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (19.4% below list).
Recommended offer: $164k (28.2% below list) — sets the bar for cash-flow.

Location & tenants

Location reads 67/100 on livability (#574 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment C-, schools D-, amenities F.
Stamford Central School District (rural): math 40% / reading 35% proficiency, ranked #675 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Market conditions: 72 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
This rent runs 38% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (5.2% local appreciation)).
Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

It's been on market 137 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

Watch-outs: property tax is 2.8% of price.

Recommended offer $164,360 (28.2% below list)

Questions for the 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 137 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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.
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: 0.81% ✗
Cap rate: 4.38%
Cash-on-cash: -6.85%
DSCR: 0.70
GRM: 10.3

CMA / ARV

ARV (median comp): $249,438
List price: $229,000
Delta: -8.19%
Verdict: FAIR
Comps: 17 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Railroad Ave	0.48mi	3/2.0	1,440 (+1%)	7mo	$245,000	$170	71
26 W End Ave	0.17mi	2/2.0 (-1)	1,242 (-13%)	0mo	$259,000	$209	65
26 River St	0.43mi	4/1.5 (+1)	1,320 (-8%)	3mo	$159,000	$120	58
6 Van Dyke Ave	0.55mi	3/1.5	1,500 (+5%)	10mo	$325,000	$217	56
29 River St	0.54mi	4/1.5 (+1)	1,603 (+12%)	5mo	$180,200	$112	43
4 Academy St	0.58mi	2/1.5 (-1)	1,300 (-9%)	21mo	$125,000	$96	33

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

Projected returns pro-forma

5.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

IRR: 7.7%
Equity multiple: 1.50×
Total profit: $32,369
Equity at exit: $132,661

10-year hold

IRR: 9.7%
Equity multiple: 2.83×
Total profit: $117,142
Equity at exit: $231,380

Cash invested: $64,120 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 2 active · 6 under contract
Months of supply: 4.0 mo (25%/mo absorbed)
Median asking: $258,500 ($198/sqft)
Median days on market: 98 d
This list price: lowest-priced of the active set
ARV vs active asking: -12.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12167

Home prices YoY: 1.4%
Active inventory: 72
Price-to-rent: 10.3×

Monthly cashflow live

Estimated rent: $1,847 medium interval (Pro) →
Mortgage (P&I): −$1,201
Tax from tax record: −$529 /mo · $6,343/yr
Insurance: −$95
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$388
Net cashflow: $-366

Break-even live

Break-even rent $2,310

Max offer price $164,360

Occupancy floor —

Sensitivity live

Price	-10% $-236	-5% $-301	+0% $-366	+5% $-431	+10% $-496
Rent	-10% $-512	-5% $-439	+0% $-366	+5% $-293	+10% $-220
Rate	-1.0pp $-251	-0.5pp $-308	base $-366	+0.5pp $-425	+1.0pp $-486

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: $57,250
Closing costs: $6,870
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 River St Stamford, NY	3.0	1.5	1150	$1,800	$1.57	9d	1	0.38mi
1 Prospect St Stamford, NY	3.0	2.0	1500	$1,900	$1.27	6d	1	0.51mi

Property features AI

Exterior

Parking: Underground parkingGarage door opener1-car garage
Utilities: Electricity connectedHigh-speed internet availablePublic water connectedSewer connected
Home design: Single-story homeFrame construction with vinyl sidingAsphalt shingle roofPoured foundationExisting/resale propertyMain thoroughfare frontageRectangular, wooded lot (approx. 2.5 acres, dimensions 288 x 489)
Construction: Frame constructionVinyl sidingAsphalt shingle roofPoured foundationYear built: existing (resale)
Exterior features: DeckPatio/porch deckPrivate yardPartial fencingFenceGravel drivewayShed(s)/storageSee remarks

Interior

Kitchen: DishwasherElectric ovenElectric rangeMicrowaveRefrigeratorKitchen islandPantryCountry kitchen
Bedrooms: Three main-level bedrooms
Flooring: CarpetLaminateVinylVaried flooring
Bathrooms: Two full bathroomsOne half bathroomTwo main-level bathrooms
Other interior: Total of 7 roomsFull basement with walk-out access and sump pumpOne fireplace
Heating & cooling: Electric baseboard heatingHas heating
Interior features: Accessible approach with rampCeiling fan(s)Country kitchenKitchen islandLiving/dining roomPantryWorkshopSunroomFlorida room
Laundry & utility: WasherDryerMain-level laundry

Listing history 50 events

2026-11-08

days on market $229,000 Active 137 DOM
2026-11-07

days on market $229,000 Active 136 DOM
2026-11-06

days on market $229,000 Active 135 DOM
2026-11-05

days on market $229,000 Active 134 DOM
2026-11-04

days on market $229,000 Active 133 DOM
2026-11-02

days on market $229,000 Active 131 DOM
2026-11-01

days on market $229,000 Active 130 DOM
2026-10-31

days on market $229,000 Active 129 DOM
2026-10-31

days on market $229,000 Active 128 DOM
2026-10-29

days on market $229,000 Active 127 DOM
2026-10-28

days on market $229,000 Active 126 DOM
2026-10-27

days on market $229,000 Active 125 DOM
2026-10-26

days on market $229,000 Active 124 DOM
2026-10-25

days on market $229,000 Active 123 DOM
2026-10-24

days on market $229,000 Active 122 DOM
2026-10-23

days on market $229,000 Active 121 DOM
2026-10-22

days on market $229,000 Active 120 DOM
2026-10-21

days on market $229,000 Active 119 DOM
2026-10-20

days on market $229,000 Active 118 DOM
2026-10-19

days on market $229,000 Active 117 DOM
2026-10-18

days on market $229,000 Active 116 DOM
2026-10-17

days on market $229,000 Active 115 DOM
2026-10-16

days on market $229,000 Active 114 DOM
2026-10-15

days on market $229,000 Active 113 DOM
2026-10-14

days on market $229,000 Active 112 DOM
2026-10-13

days on market $229,000 Active 111 DOM
2026-10-12

days on market $229,000 Active 110 DOM
2026-10-11

days on market $229,000 Active 109 DOM
2026-10-10

days on market $229,000 Active 108 DOM
2026-10-09

days on market $229,000 Active 107 DOM
2026-10-08

days on market $229,000 Active 106 DOM
2026-10-07

days on market $229,000 Active 105 DOM
2026-10-06

days on market $229,000 Active 104 DOM
2026-10-05

days on market $229,000 Active 103 DOM
2026-10-04

days on market $229,000 Active 102 DOM
2026-10-03

days on market $229,000 Active 101 DOM
2026-10-02

days on market $229,000 Active 100 DOM
2026-10-01

days on market $229,000 Active 99 DOM
2026-09-30

days on market $229,000 Active 98 DOM
2026-09-29

days on market $229,000 Active 97 DOM
2026-09-28

days on market $229,000 Active 96 DOM
2026-09-27

days on market $229,000 Active 95 DOM
2026-09-26

days on market $229,000 Active 94 DOM
2026-09-25

days on market $229,000 Active 93 DOM
2026-09-24

days on market $229,000 Active 92 DOM
2026-09-23

days on market $229,000 Active 91 DOM
2026-09-21

pricedays on market $229,000 Active 89 DOM
2026-09-20

days on market $239,000 Active 88 DOM
2026-09-19

days on market $239,000 Active 86 DOM
2026-09-17

days on market $239,000 Active 85 DOM

ⓘ 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: $6,343 · $529/mo
Projected year-2 tax: $6,343 · $529/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
🔥 Wildfire 1/10 Low
🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 18 d/yr by 30 yrs out
💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $22,162
− Mortgage interest: −$12,828
− Property taxes: −$6,343
− Insurance: −$1,145
− Repairs & maintenance: −$1,773
− Management: −$1,773
− Depreciation: −$6,662
Taxable loss: −$8,361

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,007
After-tax cash flow: $-2,384/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $7,150–$21,450 screening

This single-family home is in good condition with a good roof, siding, and interior. It has a good curb appeal and is located in a quiet, wooded area with ample space for gardening and recreation. The home is move-in ready and would benefit from a fresh coat of paint and some landscaping improvements to further enhance its value.

Value-add opportunities

Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and resale value of the home. ↑
Both Landscaping improvements — Well-maintained landscaping can improve both the resale and rental value of the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

District: Stamford Central School District
NCES district ID: 3628020
Math proficiency: 40% ▼ -10.00%
Reading proficiency: 35% ▼ -10.00%
Median HH income: $42,968
Composite: 34.29/100
National rank: #10231
State rank: #675 of 755 in NY

C Composite livability gradescore 67/100

Livability — Stamford

Score: 67/100
State rank: #574
US rank: #10332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Stamford, NY
County: Schoharie · 42,668 people
Metro: Albany-Schenectady-Troy, NY
Population (ZIP): 2,257
Household income: $58,950
Rent vs Own: 27.4% rent · 72.6% own
Severe rent burden: 18% of renters

Population outlook (Delaware County) Hauer SSP2

Today (2025): 42,668 people
By 2030: 40,337 · -5.5%
By 2040: 35,514 · -16.8%
By 2050: 31,265 · -26.7%
By 2075: 24,455 · -42.7%
By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (94%)
Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Delaware

2024 margin: R (+19.8) · D 40.1% · R 59.9%
2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▲ 5.21%
Current HPI: 368.4492
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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

1 event — show timeline

2026-06-24 Listed $255,000 UNYREIS

Property tax history

+5.1%/yr

Latest (2025): $6,343 · +18.7% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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