431 4th St

Mamaroneck, NY 10543

$749,000D

3 bd · 1.0 ba · 1,314 sqft · Built 1960 · SingleFamily · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,596/mo
• Mortgage (P&I): −$3,928
• Tax + insurance: −$550
• HOA: −$0
• Vac / Maint / Mgmt: −$965
• Net cashflow: $-847/mo
• Annual: $-10,158/yr
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• 1% rule: 0.61%
• Cash to close: $209,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $749k.
• At list price, monthly cash flow is $-847 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $599k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $460k (38.6% below list).
• It's been on market 69 days — a 6% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $460k (38.6% 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 69/100 on livability (#491 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities C-, commute F, cost of living F.
• Rye Neck Union Free School District (suburban): math 78% / reading 84% proficiency, ranked #40 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: F E Bellows Elementary School (math 76% / reading 80%, grade A, #239 of 2,108 statewide, top 11%, 347 students, 13% FRL); Rye Neck Middle School (math 73% / reading 83%, grade A+, #37 of 729 statewide, top 5%, 351 students, 16% FRL); Rye Neck Senior High School (math 98% / reading 98%, grade A+, #19 of 1,100 statewide, top 4%, 515 students, 16% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 126 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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.
• 4 sale attempts; this cycle's ask has dropped $51k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $425k; list at $749k implies a 76% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 3.1% in Mamaroneck — 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.
• This rent runs 44% of the median local income ($126k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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.
• 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?
• 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.