111 E Hartsdale Ave Unit 7E

Hartsdale, NY 10530

$269,000F

2 bd · 1.0 ba · 900 sqft · Built 1963 · Condo · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,417/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$448
• HOA: −$1,164
• Vac / Maint / Mgmt: −$718
• Net cashflow: $-323/mo
• Annual: $-3,881/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.15%
• DSCR: 0.77
• 1% rule: 1.27%
• Cash to close: $75,320

Investor read

• This is a 2-bed/1.0-bath condo listed at $269k.
• At list price, monthly cash flow is $-323 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• It's been on market 58 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#94 in NY, #1,430 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Greenburgh Central School District (suburban): math 51% / reading 55% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Early Childhood Program (128 students, 0% FRL); Richard J Bailey School (math 45% / reading 53%, grade C-, #294 of 729 statewide, top 41%, 336 students, 0% FRL); Woodlands Middle/High School (math 62% / reading 52%, grade C, #887 of 1,100 statewide, top 82%, 681 students, 66% FRL) — zoned schools average 22% FRL vs 42% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 34% of rent.
• Market conditions: 156 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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.
• 12 sale attempts since 22y 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 $225k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1963 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?