689 Sprout Brook Rd · Lake Mohegan, NY 10579

$359,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 56 Days on market

Built 1965 1.00 ac lot $499/sqft · 15% below area Est $422k · 15% under

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Why this score? — see what drove the C 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 +14.2/15.0
• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• Schools +6.5/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Imagine waking up to panoramic mountain views from the comfort of your own living room. Set on a picturesque road, this inviting home is the perfect weekend sanctuary or a smart choice for a first home — and it packs a lot into a small footprint. Large living room windows frame a stunning valley and mountain ridge, bringing the outdoors in. Carefully tended by one family for decades, the home benefits from a full suite of updates in the last decade — roof, driveway, Slomin Shield windows with integrated security, appliances, and a generator. All the essentials are in place; now it's just waiting for your personal touch.

Key facts

• 1 acre lot
• Built 1965
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $321k (10.7% below list).
• Recommended offer: $314k (12.5% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.1% in Lake Mohegan — 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.

Location & tenants

• Location reads 71/100 on livability (#417 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Putnam Valley Central School District (suburban): math 73% / reading 71% proficiency, ranked #91 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 51 active listings in the ZIP; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $314,017 (12.5% 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. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 9.3

CMA / ARV

• ARV (median comp): $422,134
• List price: $359,000
• Delta: -14.96%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.79×
• Total profit: $179,540
• Equity at exit: $323,416

10-year hold

• IRR: 19.9%
• Equity multiple: 6.39×
• Total profit: $541,942
• Equity at exit: $697,458

Cash invested: $100,520 (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 10579

• Home prices YoY: 4.0%
• Active inventory: 51
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,207 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$756 /mo · $9,075/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $-255

Break-even live

Break-even rent $3,530

Max offer price $314,017

Occupancy floor —

Sensitivity live

Price	-10% $-51	-5% $-153	+0% $-255	+5% $-356	+10% $-458
Rent	-10% $-508	-5% $-381	+0% $-255	+5% $-128	+10% $-1
Rate	-1.0pp $-74	-0.5pp $-163	base $-255	+0.5pp $-348	+1.0pp $-442

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $359,000 Active 56 DOM
2. 2026-06-17
   days on market $359,000 Active 55 DOM
3. 2026-06-16
   days on market $359,000 Active 54 DOM
4. 2026-06-15
   days on market $359,000 Active 53 DOM
5. 2026-06-14
   days on market $359,000 Active 51 DOM
6. 2026-06-10
   days on market $359,000 Active 48 DOM
7. 2026-06-09
   days on market $359,000 Active 47 DOM
8. 2026-06-08
   days on market $359,000 Active 46 DOM
9. 2026-06-07
   days on market $359,000 Active 45 DOM
10. 2026-06-03
    days on market $359,000 Active 41 DOM
11. 2026-06-02
    days on market $359,000 Active 40 DOM
12. 2026-06-01
    days on market $359,000 Active 39 DOM
13. 2026-05-31
    days on market $359,000 Active 38 DOM
14. 2026-05-30
    days on market $359,000 Active 37 DOM
15. 2026-04-24
    listed $359,000 Active 639-char remark

    Show marketing remark (639 chars)

    Imagine waking up to panoramic mountain views from the comfort of your own living room. Set on a picturesque road, this inviting home is the perfect weekend sanctuary or a smart choice for a first home — and it packs a lot into a small footprint. Large living room windows frame a stunning valley and mountain ridge, bringing the outdoors in. Carefully tended by one family for decades, the home benefits from a full suite of updates in the last decade — roof, driveway, Slomin Shield windows with integrated security, appliances, and a generator. All the essentials are in place; now it's just waiting for your personal touch.

16. 2026-04-20
    historical $359,000 639-char remark

    Show marketing remark (639 chars)

    Imagine waking up to panoramic mountain views from the comfort of your own living room. Set on a picturesque road, this inviting home is the perfect weekend sanctuary or a smart choice for a first home — and it packs a lot into a small footprint. Large living room windows frame a stunning valley and mountain ridge, bringing the outdoors in. Carefully tended by one family for decades, the home benefits from a full suite of updates in the last decade — roof, driveway, Slomin Shield windows with integrated security, appliances, and a generator. All the essentials are in place; now it's just waiting for your personal touch.

ⓘ 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: $9,075 · $756/mo
• Projected year-2 tax: $9,075 · $756/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $38,488
• − Mortgage interest: −$20,110
• − Property taxes: −$9,075
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,079
• − Management: −$3,079
• − Depreciation: −$10,444
• Taxable loss: −$9,093
• Est. tax savings @ 24.0%: +$2,182
• After-tax cash flow: $-873/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: Putnam Valley Central School District
• NCES district ID: 3624000
• Math proficiency: 73% ▬ 0.00%
• Reading proficiency: 71% ▲ 6.00%
• Median HH income: $94,086
• Composite: 65.26/100
• National rank: #491
• State rank: #91 of 590 in NY

Livability — Lake Mohegan

• Score: 71/100
• State rank: #417
• US rank: #7240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,361
• Population (ZIP): 8,825

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 16% Two or more races 6% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Iranian 3% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 9% Arabic 3% Other Indo-European 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.42%
• Current HPI: 269.3211
• 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

2 events — show timeline

• 2026-04-24 Listed $359,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $359,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+15.3%/yr

Latest (2025): $9,075 · +1.2% YoY. Source: county tax records.