11 Oakdale Rd

Shrub Oak, NY 10579

$399,000D

2 bd · 1.0 ba · 722 sqft · Built 1950 · SingleFamily · Pending · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,211/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$1,051
• HOA: −$0
• Vac / Maint / Mgmt: −$674
• Net cashflow: $-607/mo
• Annual: $-7,288/yr
• Cap rate: 4.47%
• Cash-on-cash: -6.52%
• DSCR: 0.71
• 1% rule: 0.80%
• Cash to close: $111,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $399k.
• At list price, monthly cash flow is $-607 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $321k (19.5% below list).
• It's been on market 111 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $292k (26.9% below list) — sets the bar for cash-flow.
• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#342 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Putnam Valley Central School District (suburban): math 73% / reading 71% proficiency, ranked #91 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Putnam Valley Elementary School (math 87% / reading 82%, grade A+, #93 of 2,108 statewide, top 6%, 554 students, 19% FRL); Putnam Valley Middle School (math 57% / reading 65%, grade B+, #150 of 729 statewide, top 21%, 473 students, 17% FRL); Putnam Valley High School (math 92% / reading 24%, grade C, #879 of 1,100 statewide, top 80%, 503 students, 23% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 54 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.
• 4 sale attempts since 23y 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.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 111 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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?