245 Rumsey Rd Unit 7O

Yonkers, NY 10701

$184,900B+

2 bd · 1.0 ba · 1,060 sqft · Built 1958 · Townhouse · Active · 232 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,794/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$308
• HOA: −$0
• Vac / Maint / Mgmt: −$587
• Net cashflow: $929/mo
• Annual: $11,153/yr
• Cap rate: 12.32%
• Cash-on-cash: 21.54%
• DSCR: 1.96
• 1% rule: 1.51%
• Cash to close: $51,772

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $185k. Condition is rated fair.
• At list price, monthly cash flow is $929 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• It's been on market 232 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#528 in NY) — a middle-class / working-renter tenant base. Strengths: employment A, commute B; Watch: amenities F, cost of living F.
• Yonkers City School District (suburban): math 41% / reading 54% proficiency, ranked #413 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.4%/yr); 231 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 65d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 13 sale attempts since 12y 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 $124k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; 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.
• Cap rate 12.3% vs local median 5.4% in Yonkers — 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.
• At $2,794/mo this rent would consume 52% of the median local household income ($65k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops and backsplash — The countertops and backsplash appear dated and could be replaced for a fresh look.
• Minor: Bathroom fixtures and tiles — The fixtures and tiles may be outdated and could be replaced for a more modern look.
• Minor: Landscaping — The landscaping is sparse and could benefit from some maintenance and updates.