32 Brownsell Ave

West Haverstraw, NY 10993

$389,000D

3 bd · 1.5 ba · 1,395 sqft · Built 1965 · Townhouse · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,273/mo
• Mortgage (P&I): −$2,040
• Tax + insurance: −$648
• HOA: −$0
• Vac / Maint / Mgmt: −$687
• Net cashflow: $-102/mo
• Annual: $-1,228/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• 1% rule: 0.84%
• Cash to close: $108,920

Investor read

• This is a 3-bed/1.5-bath townhouse listed at $389k.
• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $374k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $327k (15.9% below list).
• It's been on market 93 days — a 9% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $327k (15.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#702 in NY) — a middle-class / working-renter tenant base. Strengths: housing A, health & safety A, employment A-; Watch: crime D+, amenities F, commute F.
• Haverstraw-Stony Point CSD (North Rockland) (suburban): math 41% / reading 47% proficiency, ranked #427 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Haverstraw Elementary School (math 22% / reading 37%, grade F, #1,729 of 2,108 statewide, top 84%, 742 students, 22% FRL); Fieldstone Middle School (math 18% / reading 46%, grade F, #511 of 729 statewide, top 71%, 1,247 students, 0% FRL); North Rockland High School (math 86% / reading 67%, grade A-, #612 of 1,100 statewide, top 56%, 2,687 students, 0% FRL) — zoned schools average 7% FRL vs 40% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 23 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 10y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $155k; list at $389k implies a 151% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 1.8% in West Haverstraw — 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.

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 93 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?