580 Bedford Rd #8

Pleasantville, NY 10570

$249,900B-

None bd · 1.0 ba · 500 sqft · Built 1980 · MultiFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,070/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$214
• HOA: −$257
• Vac / Maint / Mgmt: −$645
• Net cashflow: $644/mo
• Annual: $7,723/yr
• Cap rate: 9.38%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• 1% rule: 1.23%
• Cash to close: $69,972

Investor read

• This is a ?-bed/1.0-bath multifamily listed at $250k.
• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• It's been on market 36 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (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 $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#194 in NY, #2,992 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Pleasantville Union Free School District (suburban): math 71% / reading 83% proficiency, ranked #46 of 590 in NY (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Bedford Road School (math 69% / reading 85%, grade A, #244 of 2,108 statewide, top 13%, 569 students, 11% FRL); Pleasantville Middle School (math 62% / reading 81%, grade A, #82 of 729 statewide, top 11%, 468 students, 13% FRL); Pleasantville High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 593 students, 0% FRL) — zoned schools at 8% FRL track the district average.
• Market conditions: 44 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 30y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 2.1% in Pleasantville — 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

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 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.