29 E Kinnicutt Rd

Scotts Corners, NY 10576

$1,400,000B-

4 bd · 2.5 ba · 4,611 sqft · Built 1955 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $14,843/mo
• Mortgage (P&I): −$7,342
• Tax + insurance: −$2,511
• HOA: −$0
• Vac / Maint / Mgmt: −$3,117
• Net cashflow: $1,873/mo
• Annual: $22,473/yr
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.26
• 1% rule: 1.06%
• Cash to close: $392,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1.40M.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.40M).
• It's been on market 44 days — a 3% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.36M (3.0% below list) — sets the bar for market timing.
• In year one you build about $63k of equity ($10k loan paydown + $54k appreciation (3.8% local appreciation)).
• Location reads 63/100 on livability (#810 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing B+; Watch: amenities F, commute F, cost of living F.
• Bedford Central School District (rural): math 54% / reading 60% proficiency, ranked #211 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Pound Ridge Elementary School (math 52% / reading 77%, grade B, #591 of 2,108 statewide, top 31%, 238 students, 10% FRL); Fox Lane Middle School (math 42% / reading 55%, grade C-, #300 of 729 statewide, top 41%, 765 students, 38% FRL); Fox Lane High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,241 students, 36% FRL) — zoned schools average 28% FRL vs 10% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $99k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $879k; list at $1.40M implies a 59% gain — meaningful room to come down on a strong offer.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $392k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$102k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.