10 Regents Pl Unit D

Jefferson Valley-Yorktown, NY 10598

$235,000F

None bd · 1.0 ba · 550 sqft · Built 1972 · Condo · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$340
• HOA: −$342
• Vac / Maint / Mgmt: −$410
• Net cashflow: $-374/mo
• Annual: $-4,489/yr
• Cap rate: 4.38%
• Cash-on-cash: -6.82%
• DSCR: 0.70
• 1% rule: 0.83%
• Cash to close: $65,800

Investor read

• This is a ?-bed/1.0-bath condo listed at $235k.
• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (28.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (17.0% below list).
• It's been on market 83 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $169k (28.1% below list) — sets the bar for cash-flow.
• 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: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Lakeland Central School District (suburban): math 60% / reading 70% proficiency, ranked #149 of 590 in NY (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Thomas Jefferson Elementary School (math 62% / reading 77%, grade A-, #447 of 2,108 statewide, top 24%, 399 students, 16% FRL); Lakeland-Copper Beech Middle School (math 38% / reading 66%, grade C+, #241 of 729 statewide, top 35%, 1,247 students, 29% FRL); Lakeland High School (math 94% / reading 77%, grade A, #366 of 1,100 statewide, top 33%, 942 students, 0% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 160 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 4 sale attempts since 17y 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.
• Current owner paid $197k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.4% vs local median 2.8% in Jefferson Valley-Yorktown — 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 83 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.
• 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?