240 Garth Rd · Eastchester, NY 10583

$359,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 276 Days on market

Built 1965 $299/sqft · 17% above area Est $306k · 17% over

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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).

• Cash flow +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +7.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

PERFECT APARTMENT FOR NYC RESIDENTS ESCAPING THE CITY. This Garth Essex two bedroom/two full bath co-op is coveted for its sixth floor peace and quiet, eastward facing screened terrace, fabulous layout and plethora of closets. Entry hall that's large enough to use as your home office, living/dining room, with screen divider. Convertible into a three bedroom. The master bedroom has an en suite bath plus an enviable walk-in closet and a 2nd closet. Nine foot ceilings, powerful central AC, endless storage, laundry on every floor, bike room, storage room, garage parking (short wait list) and nearby outdoor parking are all amenities that truly set this perfectly kept complex apart. Walking distance to the Scarsdale Metro-North station (30 minutes to Grand Central), shopping and dining. River-front biking/walking/jogging paths. Plus, the adjacent Bronx River Parkway closes for bike use on Summer Sundays and residents are eligible for low cost ($740) family membership at Lake Isle Country Club for tennis, swimming and 18-holes of award-winning golf. This apartment offers all the best that living in southern Westchester County brings.

Key facts

• Storage room
• Walk-in closet
• Bike room

Tags

• EN SUITE BATH
• WALK-IN CLOSET
• LAUNDRY ON EVERY FLOOR
• BIKE ROOM
• STORAGE ROOM
• GARAGE PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $359k).
• Recommended offer: $316k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.2% in Eastchester — 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 78/100 on livability (#159 in NY, #2,451 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, commute A+; Watch: amenities D-, cost of living F, health & safety D-.
• Eastchester Union Free School District (suburban): math 79% / reading 80% proficiency, ranked #42 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Market conditions: 292 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 276 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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.

Recommended offer $315,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 276 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.59%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (median comp): $305,576
• List price: $359,000
• Delta: 17.48%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $10,226
• Equity at exit: $53,528

10-year hold

• IRR: 12.2%
• Equity multiple: 1.97×
• Total profit: $97,284
• Equity at exit: $31,040

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 10583

• Active inventory: 292
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $4,582 high
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$962
• Net cashflow: $1,072

Break-even live

Break-even rent $3,225

Max offer price $359,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,320	-5% $1,196	+0% $1,072	+5% $948	+10% $824
Rent	-10% $710	-5% $891	+0% $1,072	+5% $1,253	+10% $1,434
Rate	-1.0pp $1,253	-0.5pp $1,164	base $1,072	+0.5pp $979	+1.0pp $885

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: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Harney Rd Unit 6B Scarsdale, NY	1.0	1.0	725	$2,850	$3.93	44d	1	0.14mi
36 Grand Blvd Unit 2 Scarsdale, NY	3.0	2.0	1500	$6,100	$4.07	44d	1	0.14mi
10 Wright Pl Unit C4 Scarsdale, NY	1.0	1.0	700	$2,499	$3.57	25d	1	0.28mi
10 Wright Pl Unit A5 Scarsdale, NY	1.0	1.0	700	$2,550	$3.64	17d	1	0.28mi
26 East Pkwy Unit 14A Scarsdale, NY	1.0	1.0	810	$3,500	$4.32	44d	1	0.53mi
45 Popham Rd Unit 5L Scarsdale, NY	2.0	2.0	1041	$5,100	$4.90	8d	1	0.53mi
837 White Plains Rd Unit 3R Scarsdale, NY	2.0	1.0	950	$2,500	$2.63	8d	1	0.56mi
155 White Rd Scarsdale, NY	3.0	1.5	1232	$6,900	$5.60	0d	1	0.97mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $359,000 Active 276 DOM
2. 2026-06-17
   days on market $359,000 Active 275 DOM
3. 2026-06-16
   days on market $359,000 Active 274 DOM
4. 2026-06-15
   days on market $359,000 Active 273 DOM
5. 2026-06-13
   days on market $359,000 Active 271 DOM
6. 2026-06-09
   days on market $359,000 Active 267 DOM
7. 2026-06-08
   days on market $359,000 Active 266 DOM
8. 2026-06-07
   days on market $359,000 Active 265 DOM
9. 2026-06-04
   days on market $359,000 Active 262 DOM
10. 2026-06-03
    days on market $359,000 Active 261 DOM
11. 2026-06-02
    days on market $359,000 Active 260 DOM
12. 2026-06-01
    days on market $359,000 Active 259 DOM
13. 2026-05-31
    days on market $359,000 Active 258 DOM
14. 2025-09-15
    listed $359,000 Active 1144-char remark

    Show marketing remark (1144 chars)

    PERFECT APARTMENT FOR NYC RESIDENTS ESCAPING THE CITY. This Garth Essex two bedroom/two full bath co-op is coveted for its sixth floor peace and quiet, eastward facing screened terrace, fabulous layout and plethora of closets. Entry hall that's large enough to use as your home office, living/dining room, with screen divider. Convertible into a three bedroom. The master bedroom has an en suite bath plus an enviable walk-in closet and a 2nd closet. Nine foot ceilings, powerful central AC, endless storage, laundry on every floor, bike room, storage room, garage parking (short wait list) and nearby outdoor parking are all amenities that truly set this perfectly kept complex apart. Walking distance to the Scarsdale Metro-North station (30 minutes to Grand Central), shopping and dining. River-front biking/walking/jogging paths. Plus, the adjacent Bronx River Parkway closes for bike use on Summer Sundays and residents are eligible for low cost ($740) family membership at Lake Isle Country Club for tennis, swimming and 18-holes of award-winning golf. This apartment offers all the best that living in southern Westchester County brings.

15. 2022-02-20
    price $1,850

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,982
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$2,592
• − Repairs & maintenance: −$4,399
• − Management: −$4,399
• − Depreciation: −$10,444
• Taxable income: $7,654
• Est. tax owed @ 24.0%: −$1,837
• After-tax cash flow: $11,029/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: Eastchester Union Free School District
• NCES district ID: 3610080
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 80% ▲ 9.00%
• Median HH income: $96,944
• Composite: 71.74/100
• National rank: #216
• State rank: #42 of 590 in NY

Livability — Eastchester

• Score: 78/100
• State rank: #159
• US rank: #2451

Category grades

Amenities D- Commute A+ 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

• Census place: Eastchester, NY
• County: Westchester County · 709,332 people
• City population: 10,274
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,207
• Household income: $250,001
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 560.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Asian 20% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 5% Italian 3%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Chinese 6% Spanish 5%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -851.83%
• Current HPI: 283.4725
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+19305.4% since first listed

2 events — show timeline

• 2025-09-15 Listed $359,000 ForSaleByOwner.com
• 2022-02-20 Price Changed $1,850 RENT.