16 Spring Brook Rd · Nanuet, NY 10954

$675,000

4 bd · 3.0 ba · 2,048 sqft · MultiFamily public records · 75 Days on market

Built 1973 7,405 sqft lot $330/sqft · 55% below area

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.8/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover the Perfect Home ! This property offers the ideal living arrangement . Lower level has a separate access to a family room, 2 bonus rooms and a full bath. 2nd level the main part of the home has the kitchen, dining living room primary bedroom with full bath, 3rd level has a 2nd primary bedroom with a full bath, 2 additional rooms and a full bath. Bring the family back together schedule an appointment today and explore the endless possibilities awaiting you. Don't miss out on this chance to make a smart investment for your future!

Key facts

• 7,405 sq ft lot
• Built 1973
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $675k).
• Recommended offer: $634k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.3% in Nanuet — 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.

Location & tenants

• Location reads 70/100 on livability (#466 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F, health & safety F.
• East Ramapo Central School District (Spring Valley) (suburban): math 22% / reading 34% proficiency, ranked #576 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• At $7,958/mo this rent would consume 82% of the median local household income ($116k/yr) (locally 842% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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.
• Current owner paid $355k; list at $675k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $634,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.1

CMA / ARV

• ARV (median comp): $1,507,657
• List price: $675,000
• Delta: -55.23%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Second Ave	0.21mi	4/2.0	2,128 (+4%)	19mo	$800,000	$376	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-39,843
• Equity at exit: $100,645

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $68,410
• Equity at exit: $58,362

Cash invested: $189,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10954

• Rents YoY: 3.5%
• Active inventory: 118
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $7,958 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$1,449 /mo · $17,385/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,671
• Net cashflow: $1,017

Break-even live

Break-even rent $6,671

Max offer price $675,000

Occupancy floor 82%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,959
Total (3 units)			$7,958

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Avalon Gardens Dr Nanuet, NY	1.0–3.0	1.0–2.0	1154	$4,539	$3.93	1d	21	0.73mi
1 Hadassah Ln Spring Valley, NY	3.0	1.5	1554	$3,500	$2.25	1d	1	1.42mi

Listing history 24 events

1. 2026-06-02
   statusdays on market $675,000 Pending 75 DOM
2. 2026-06-01
   days on market $675,000 Active 74 DOM
3. 2026-05-31
   days on market $675,000 Active 73 DOM
4. 2026-03-20
   status Active 545-char remark

   Show marketing remark (545 chars)

   Discover the Perfect Home ! This property offers the ideal living arrangement . Lower level has a separate access to a family room, 2 bonus rooms and a full bath. 2nd level the main part of the home has the kitchen, dining living room primary bedroom with full bath, 3rd level has a 2nd primary bedroom with a full bath, 2 additional rooms and a full bath. Bring the family back together schedule an appointment today and explore the endless possibilities awaiting you. Don't miss out on this chance to make a smart investment for your future!

5. 2026-03-18
   listed $675,000 Active 545-char remark

   Show marketing remark (545 chars)

   Discover the Perfect Home ! This property offers the ideal living arrangement . Lower level has a separate access to a family room, 2 bonus rooms and a full bath. 2nd level the main part of the home has the kitchen, dining living room primary bedroom with full bath, 3rd level has a 2nd primary bedroom with a full bath, 2 additional rooms and a full bath. Bring the family back together schedule an appointment today and explore the endless possibilities awaiting you. Don't miss out on this chance to make a smart investment for your future!

6. 2025-08-29
   status Pending
7. 2025-08-29
   historical
8. 2025-04-25
   status Active
9. 2025-03-23
   price $675,000
10. 2025-01-29
    listed $725,000 Active
11. 2025-01-23
    historical
12. 2024-10-25
    price $700,000
13. 2024-06-08
    listed $600,000 Active
14. 2024-05-25
    listed $600,000 Active
15. 2024-05-22
    historical
16. 2023-12-19
    status Active
17. 2023-12-19
    listed $700,000 Active
18. 2023-12-04
    listed $700,000 Active
19. 2007-01-17
    soldstatus $355,000
20. 1998-01-30
    soldstatus $83,000
21. 1998-01-28
    historical
22. 1998-01-28
    price $89,900
23. 1997-12-04
    listed $83,000
24. 1981-01-06
    soldstatus $107,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $17,385 · $1,449/mo
• Projected year-2 tax: $17,385 · $1,449/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,496
• − Mortgage interest: −$37,810
• − Property taxes: −$17,385
• − Insurance: −$3,375
• − Repairs & maintenance: −$7,640
• − Management: −$7,640
• − Depreciation: −$19,636
• Taxable income: $2,010
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $11,722/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: East Ramapo Central School District (Spring Valley)
• NCES district ID: 3627810
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $61,547
• Composite: 25.6/100
• National rank: #7418
• State rank: #576 of 590 in NY

Livability — Nanuet

• Score: 70/100
• State rank: #466
• US rank: #8149

Category grades

Amenities F Commute A+ Cost of living F Crime B Employment A+ Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nanuet, NY
• County: Rockland County · 98,828 people
• City population: 26,495
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,495
• Household income: $116,332
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 842.0

Population outlook (Rockland County) Hauer SSP2

• Today (2025): 339,642 people
• By 2030: 345,987 · +1.9%
• By 2040: 357,178 · +5.2%
• By 2050: 362,456 · +6.7%
• By 2075: 367,281 · +8.1%
• By 2100: 328,211 · -3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 50% Hispanic / Latino 18% Black 15% Asian 13% Two or more races 12%
• Hispanic origin (detail): Puerto Rican 5% Dominican 2%
• Common ancestry: Italian 2% Scotch-Irish 2% Romanian 2%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 65% English-only · Spanish 14% Other Indo-European 5% Other Asian/Pacific 5%

Political lean MEDSL · Rockland

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -17.7pp toward R · 2008: 5.9pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: D+1.7 2016: D+5.1 2012: D+6.6 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -405.30%
• Current HPI: 273.6981
• Rent YoY: ▲ 3.53%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+530.8% since first listed

21 events — show timeline

• 2026-03-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-18 Listed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-29 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-08-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-03-23 Price Changed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-29 Listed $725,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-25 Price Changed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-08 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-25 Listed $600,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-12-19 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-12-19 Listed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-04 Listed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2007-01-17 Sold (Public Records) $355,000 Public Records
• 1998-01-30 Sold (MLS) $83,000 HGMLS
• 1998-01-28 Price Changed $89,900 HGMLS
• 1998-01-28 Delisted — HGMLS
• 1997-12-04 Listed $83,000 HGMLS
• 1981-01-06 Sold (Public Records) $107,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $17,385 · +7.1% YoY. Source: county tax records.