5 Highland Ave · Suffern, NY 10901

$739,222

5 bd · 3.0 ba · 3,346 sqft · MultiFamily public records · 87 Days on market

Built 1955 7,405 sqft lot $221/sqft · 45% below area Est $1169k · 37% under

---

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 +15.0/15.0
• Cash flow +13.5/30.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

If you’re looking for a well-maintained, two family, income-producing property, this is it! Perfect for owner-occupants or investors — live in one unit and rent the other, or maximize returns by leasing both. Upper level unit: 4 spacious bedrooms, 2 full bathrooms, Bright living room, large kitchen, separate family room, hardwood floors, and generous, open floor plan. Lower level unit: 3 comfortable bedrooms, 2 full bathrooms, living room, dining room, full kitchen, and spacious layout. Property Highlights: Two separate meters (ideal for tenants), rear, level lot for added privacy, Driveway, plus on-street parking, Convenient location, walk to town, shopping, dining & transportation. Whether you’re expanding your investment portfolio or searching for a housing opportunity, this property checks all the boxes. Please note that rent roll is not provided, since both tenants have occupied the property for 10+ years and are currently on month to month status. Market rent roll estimated to be at least $72,000 annualized. There are no audio recording devices inside this property.

Key facts

• Two separate meters
• Rear level lot
• Convenient location

Tags

• INCOME PRODUCING PROPERTY
• TWO SEPARATE METERS
• REAR LEVEL LOT
• CONVENIENT LOCATION

🏷️ Possibly a rental listed for sale. The $739,222 price doesn't fit this home's estimated sale value (~$1,169,455) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×4bd/2.0ba + 1×3bd/2.0ba units multifamily listed at $739k.

Deal economics

• At list price, monthly cash flow is $-30 ($-355/yr) — negative. Per door: $-15/mo.
• To cash-flow at today's rent, offer at most $734k (0.7% below list).
• Meets the 1% rule at list price ($7k rent vs $739k).
• Recommended offer: $695k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.2% in Suffern — 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 68/100 on livability (#546 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools B; Watch: amenities F, commute F, cost of living F.
• Suffern Central School District (suburban): math 53% / reading 59% proficiency, ranked #242 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 230 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• At $7,426/mo this rent would consume 82% of the median local household income ($108k/yr) (locally 828% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($695k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $490k; list at $739k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $694,868 (6.0% 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 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
10. 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?
11. 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.
12. 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.
13. 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: 1.00% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 8.3

CMA / ARV

• ARV (median comp): $1,169,455
• List price: $739,222
• Delta: -36.79%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Riverside Dr	0.13mi	6/4.0 (+1)	2,944 (-12%)	21mo	$875,000	$297	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-121,072
• Equity at exit: $110,220

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-105,429
• Equity at exit: $63,914

Cash invested: $206,982 (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 10901

• Active inventory: 230
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $7,426 medium
• Mortgage (P&I): −$3,877
• Tax from tax record: −$1,656 /mo · $19,872/yr
• Insurance: −$308
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,559
• Net cashflow: $-30

Break-even live

Break-even rent $7,463

Max offer price $734,002

Occupancy floor 95%

Sensitivity live

Price	-10% $389	-5% $180	+0% $-30	+5% $-239	+10% $-448
Rent	-10% $-616	-5% $-323	+0% $-30	+5% $264	+10% $557
Rate	-1.0pp $343	-0.5pp $158	base $-30	+0.5pp $-221	+1.0pp $-416

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	4	2	$3,997
1× unit	3	2	$3,429
Total (2 units)			$7,426

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: $184,806
• Closing costs: $22,177
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Millbury St Suffern, NY	6.0	2.5	2578	$6,500	$2.52	45d	1	0.95mi

Listing history 12 events

1. 2026-03-18
   price $739,222 1114-char remark

   Show marketing remark (1114 chars)

   If you’re looking for a well-maintained, two family, income-producing property, this is it! Perfect for owner-occupants or investors — live in one unit and rent the other, or maximize returns by leasing both. Upper level unit: 4 spacious bedrooms, 2 full bathrooms, Bright living room, large kitchen, separate family room, hardwood floors, and generous, open floor plan. Lower level unit: 3 comfortable bedrooms, 2 full bathrooms, living room, dining room, full kitchen, and spacious layout. Property Highlights: Two separate meters (ideal for tenants), rear, level lot for added privacy, Driveway, plus on-street parking, Convenient location, walk to town, shopping, dining & transportation. Whether you’re expanding your investment portfolio or searching for a housing opportunity, this property checks all the boxes. Please note that rent roll is not provided, since both tenants have occupied the property for 10+ years and are currently on month to month status. Market rent roll estimated to be at least $72,000 annualized. There are no audio recording devices inside this property.

2. 2026-03-02
   listed $789,222 Active 1114-char remark

   Show marketing remark (1114 chars)

   If you’re looking for a well-maintained, two family, income-producing property, this is it! Perfect for owner-occupants or investors — live in one unit and rent the other, or maximize returns by leasing both. Upper level unit: 4 spacious bedrooms, 2 full bathrooms, Bright living room, large kitchen, separate family room, hardwood floors, and generous, open floor plan. Lower level unit: 3 comfortable bedrooms, 2 full bathrooms, living room, dining room, full kitchen, and spacious layout. Property Highlights: Two separate meters (ideal for tenants), rear, level lot for added privacy, Driveway, plus on-street parking, Convenient location, walk to town, shopping, dining & transportation. Whether you’re expanding your investment portfolio or searching for a housing opportunity, this property checks all the boxes. Please note that rent roll is not provided, since both tenants have occupied the property for 10+ years and are currently on month to month status. Market rent roll estimated to be at least $72,000 annualized. There are no audio recording devices inside this property.

3. 2008-01-30
   soldstatus $490,000
4. 2008-01-15
   soldstatus $490,000 384-char remark

   Show marketing remark (384 chars)

   INVESTOR'S DELIGHT!!! LEGAL 2 FAMILY DUPLEX IN THE VILLAGE OF SUFFERN. EACH UNIT HAS 4BR'S, 2B, LIVING, DINING & EAT IN KITCHEN. SEPARATE ENTRANCE & SEPARATE METERS FOR UTILITIES. UPDATED KITCHEN & BATH. ROOF 1YR OLD. SOME NEW DOORS & WINDOWS. GREAT FAMILY-FRIENDLY NEIGHBORHOOD, SUFFERN SCHOOLS. WALK TO DOWNTOWN, NYC TRAIN & BUS. SHOW & SELL!!!!!

5. 2007-11-09
   historical 384-char remark

   Show marketing remark (384 chars)

   INVESTOR'S DELIGHT!!! LEGAL 2 FAMILY DUPLEX IN THE VILLAGE OF SUFFERN. EACH UNIT HAS 4BR'S, 2B, LIVING, DINING & EAT IN KITCHEN. SEPARATE ENTRANCE & SEPARATE METERS FOR UTILITIES. UPDATED KITCHEN & BATH. ROOF 1YR OLD. SOME NEW DOORS & WINDOWS. GREAT FAMILY-FRIENDLY NEIGHBORHOOD, SUFFERN SCHOOLS. WALK TO DOWNTOWN, NYC TRAIN & BUS. SHOW & SELL!!!!!

6. 2007-11-09
   price $535,000 384-char remark

   Show marketing remark (384 chars)

   INVESTOR'S DELIGHT!!! LEGAL 2 FAMILY DUPLEX IN THE VILLAGE OF SUFFERN. EACH UNIT HAS 4BR'S, 2B, LIVING, DINING & EAT IN KITCHEN. SEPARATE ENTRANCE & SEPARATE METERS FOR UTILITIES. UPDATED KITCHEN & BATH. ROOF 1YR OLD. SOME NEW DOORS & WINDOWS. GREAT FAMILY-FRIENDLY NEIGHBORHOOD, SUFFERN SCHOOLS. WALK TO DOWNTOWN, NYC TRAIN & BUS. SHOW & SELL!!!!!

7. 2007-09-22
   listed $490,000 384-char remark

   Show marketing remark (384 chars)

   INVESTOR'S DELIGHT!!! LEGAL 2 FAMILY DUPLEX IN THE VILLAGE OF SUFFERN. EACH UNIT HAS 4BR'S, 2B, LIVING, DINING & EAT IN KITCHEN. SEPARATE ENTRANCE & SEPARATE METERS FOR UTILITIES. UPDATED KITCHEN & BATH. ROOF 1YR OLD. SOME NEW DOORS & WINDOWS. GREAT FAMILY-FRIENDLY NEIGHBORHOOD, SUFFERN SCHOOLS. WALK TO DOWNTOWN, NYC TRAIN & BUS. SHOW & SELL!!!!!

8. 2003-12-05
   soldstatus $400,000
9. 2003-11-25
   soldstatus $400,000
10. 2003-09-30
    price $439,000
11. 2003-09-30
    historical
12. 2003-05-09
    listed $400,000

ⓘ 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: $19,872 · $1,656/mo
• Projected year-2 tax: $19,872 · $1,656/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 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,112
• − Mortgage interest: −$41,408
• − Property taxes: −$19,872
• − Insurance: −$4,363
• − Repairs & maintenance: −$7,129
• − Management: −$7,129
• − Depreciation: −$21,505
• Taxable loss: −$12,293
• Est. tax savings @ 24.0%: +$2,950
• After-tax cash flow: $2,596/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: Suffern Central School District
• NCES district ID: 3628320
• Math proficiency: 53% ▼ -17.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $85,871
• Composite: 51.17/100
• National rank: #1758
• State rank: #242 of 590 in NY

Livability — Suffern

• Score: 68/100
• State rank: #546
• US rank: #9788

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Suffern, NY
• County: Rockland County · 98,828 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,095
• Household income: $108,041
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 828.0

Population outlook (Rockland County) Hauer SSP2

• Today (2025): 339,642 people
• By 2030: 345,987 · +1.9%
• By 2040: 357,178 · +5.2%
• By 2050: 362,456 · +6.7%
• By 2075: 367,281 · +8.1%
• By 2100: 328,211 · -3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 13% Black 10% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 8% Scotch-Irish 4% Hispanic 4%
• Foreign-born: 18% · Canada, China, South Korea
• Languages at home: 69% English-only · Spanish 10% German/W. Germanic 5% French/Haitian/Cajun 3%

Political lean MEDSL · Rockland

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -17.7pp toward R · 2008: 5.9pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: D+1.7 2016: D+5.1 2012: D+6.6 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -582.29%
• Current HPI: 282.4798
• 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

+84.8% since first listed

12 events — show timeline

• 2026-03-18 Price Changed $739,222 OneKey® MLS as Distributed by MLS Grid
• 2026-03-02 Listed $789,222 OneKey® MLS as Distributed by MLS Grid
• 2008-01-30 Sold (Public Records) $490,000 Public Records
• 2008-01-15 Sold (MLS) $490,000 HGMLS
• 2007-11-09 Price Changed $535,000 HGMLS
• 2007-11-09 Delisted — HGMLS
• 2007-09-22 Listed $490,000 HGMLS
• 2003-12-05 Sold (Public Records) $400,000 Public Records
• 2003-11-25 Sold (MLS) $400,000 HGMLS
• 2003-09-30 Delisted — HGMLS
• 2003-09-30 Price Changed $439,000 HGMLS
• 2003-05-09 Listed $400,000 HGMLS

Property tax history

+2.6%/yr

Latest (2025): $19,872 · +9.5% YoY. Source: county tax records.