531 Weaver St

New Rochelle, NY 10538

$1,495,000C-

4 bd · 3.5 ba · 2,800 sqft · Built 1929 · SingleFamily · Coming Soon · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $13,059/mo
• Mortgage (P&I): −$7,840
• Tax + insurance: −$2,794
• HOA: −$0
• Vac / Maint / Mgmt: −$2,742
• Net cashflow: $-317/mo
• Annual: $-3,802/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• 1% rule: 0.87%
• Cash to close: $418,600

Investor read

• This is a 4-bed/3.5-bath single-family listed at $1.50M.
• At list price, monthly cash flow is $-317 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.44M (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.31M (12.6% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.31M (12.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• Mamaroneck Union Free School District (suburban): math 74% / reading 81% proficiency, ranked #47 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Murray Avenue School (math 88% / reading 90%, grade A+, #61 of 2,108 statewide, top 3%, 703 students, 2% FRL); Hommocks School (math 65% / reading 79%, grade A, #76 of 729 statewide, top 11%, 1,258 students, 20% FRL); Mamaroneck High School (math 95% / reading 91%, grade A+, #147 of 1,100 statewide, top 14%, 1,660 students, 23% FRL) — zoned schools at 15% FRL track the district average.
• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 139 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 26y ago; this cycle's ask is 99% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $750k; list at $1.50M implies a 99% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 4.5% in New Rochelle — 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?
• Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.