31 Deer Ridge Rd

West Point, NY 10524

$725,000D

3 bd · 2.5 ba · 1,930 sqft · Built 1986 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,220/mo
• Mortgage (P&I): −$3,802
• Tax + insurance: −$994
• HOA: −$0
• Vac / Maint / Mgmt: −$1,096
• Net cashflow: $-672/mo
• Annual: $-8,059/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.97%
• DSCR: 0.82
• 1% rule: 0.72%
• Cash to close: $203,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $725k.
• At list price, monthly cash flow is $-672 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $606k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $522k (28.0% below list).
• It's been on market 27 days — a 2% lower offer ($714k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $522k (28.0% below list) — sets the bar for 1% rule.
• 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.
• Location reads 62/100 on livability (#839 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing B; Watch: amenities F, commute F, cost of living F.
• Garrison Union Free School District (rural): math 70% / reading 70% proficiency, ranked #117 of 755 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 45 active listings in the ZIP; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 21y 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.