392 Oscawana Lake Rd · Lake Mohegan, NY 10579

$675,000

4 bd · 4.0 ba · 2,233 sqft · SingleFamily public records · 38 Days on market

Built 1952 1.00 ac lot $302/sqft · at area comps Est $704k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• Schools +6.5/10.0
• Cash flow +5.8/30.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.2/10.0

Listing remarks MLS

Welcome to 392 Oscawana Lake Road in Putnam Valley, a beautifully maintained home set on a private one-acre property in the heart of the scenic "Town of Lakes." Offering versatile living space and a peaceful setting, this home is perfect for extended family, guests, or those seeking additional living flexibility. The main level features a spacious living room with a fireplace and skylight, a dining room, beautifully renovated eat in kitchen, laundry room, and a convenient half-bath. Down the hall are three generously sized bedrooms, and a full hall bath. Hardwood Floors flow throughout the home, adding warmth and character. The upper level offers a wonderful accessory apartment complete with one bedroom plus an office, a kitchen, living room with fireplace, full bath, and an enclosed porch, creating the perfect private living space for extended family or guests. The partially finished walk out basement provides tons of storage, workshop space, abundant plumbing access, and separate utilities for both the main home and the apartment. Additional features include a one-car garage, private backyard with deck, and an above ground pool ideal for summer entertaining and relaxation. Conveniently located close to the Taconic State Parkway, shopping and public transportation, with just about a one-hour commute to New York City.

Key facts

• Above ground pool
• Accessory apartment
• 1 acre lot

Tags

• PRIVATE ONE ACRE PROPERTY
• RENOVATED EAT IN KITCHEN
• ACCESSORY APARTMENT
• PRIVATE BACKYARD WITH DECK
• ABOVE GROUND POOL
• CLOSE TO TACONIC STATE PARKWAY

Property features AI

Exterior

• Parking: Driveway; Garage (1 car)
• Utilities: Electric service by NYSEG; Septic tank; Electricity connected; Trash collection (public); Water available
• Home design: Single-family residence; Multi/split levels; Updated/remodeled condition
• Construction: Vinyl siding
• Exterior features: Back yard; Level lot with partial woods; Rolling slope; Above-ground private pool

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Granite counters; Eat-in layout
• Bedrooms: Master downstairs
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Oil-fired heating with baseboards; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Beamed ceilings; Ceiling fan(s); Eat-in kitchen; Formal dining room; Granite counters; Primary bathroom; Master bedroom on the main level; Deck, porch, and screened porch
• Laundry & utility: Laundry located in bathroom

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $675k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $437k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $474k (29.7% below list).
• Recommended offer: $437k (35.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 71/100 on livability (#417 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime 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).
• Market conditions: 54 active listings in the ZIP; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

Forward outlook

• In year one you build about $72k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 $375k; list at $675k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $437,272 (35.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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.

Investment metrics

• 1% rule: 0.70% ✗
• Cap rate: 3.90%
• Cash-on-cash: -8.54%
• DSCR: 0.62
• GRM: 11.9

CMA / ARV

• ARV (median comp): $704,050
• List price: $675,000
• Delta: -4.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Lee Ave	0.21mi	3/3.0 (-1)	2,040 (-9%)	22mo	$580,000	$284	48
34 Hudson View Dr	0.59mi	3/1.0 (-1)	2,250 (+1%)	8mo	$490,000	$218	48
1 Cherry Ln	0.57mi	3/3.0 (-1)	2,501 (+12%)	2mo	$700,000	$280	43
328 Oscawana Lake Rd	0.59mi	4/3.0	2,061 (-8%)	19mo	$424,000	$206	40
466 Oscawana Lake Rd	0.69mi	3/2.5 (-1)	2,071 (-7%)	10mo	$680,000	$328	36
27 West Ave	0.59mi	3/2.5 (-1)	2,496 (+12%)	8mo	$725,000	$290	35

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.49×
• Total profit: $282,247
• Equity at exit: $608,093

10-year hold

• IRR: 17.1%
• Equity multiple: 5.76×
• Total profit: $899,238
• Equity at exit: $1,311,377

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 10579

• Home prices YoY: 4.0%
• Active inventory: 54
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $4,742 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$1,271 /mo · $15,253/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$996
• Net cashflow: $-1,346

Break-even live

Break-even rent $6,446

Max offer price $437,272

Occupancy floor —

Sensitivity live

Price	-10% $-964	-5% $-1,155	+0% $-1,346	+5% $-1,537	+10% $-1,728
Rent	-10% $-1,720	-5% $-1,533	+0% $-1,346	+5% $-1,158	+10% $-971
Rate	-1.0pp $-1,006	-0.5pp $-1,174	base $-1,346	+0.5pp $-1,521	+1.0pp $-1,699

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: —

Listing history 29 events

1. 2026-06-21
   days on market $675,000 Active 38 DOM
2. 2026-06-18
   days on market $675,000 Active 35 DOM
3. 2026-06-17
   days on market $675,000 Active 34 DOM
4. 2026-06-16
   days on market $675,000 Active 33 DOM
5. 2026-06-15
   days on market $675,000 Active 32 DOM
6. 2026-06-14
   days on market $675,000 Active 30 DOM
7. 2026-06-10
   days on market $675,000 Active 27 DOM
8. 2026-06-09
   days on market $675,000 Active 26 DOM
9. 2026-06-08
   days on market $675,000 Active 25 DOM
10. 2026-06-07
    days on market $675,000 Active 24 DOM
11. 2026-06-03
    days on market $675,000 Active 20 DOM
12. 2026-06-02
    days on market $675,000 Active 19 DOM
13. 2026-06-01
    days on market $675,000 Active 18 DOM
14. 2026-05-31
    days on market $675,000 Active 17 DOM
15. 2026-05-30
    days on market $675,000 Active 16 DOM
16. 2026-05-14
    listed $675,000 Active 1823-char remark
17. 2018-07-20
    soldstatus $375,100
18. 2018-07-06
    soldstatus $375,000 Sold 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

19. 2018-05-16
    historical Pending 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

20. 2018-05-10
    status Active 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

21. 2018-04-28
    historical Pending 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

22. 2017-12-08
    price $379,000 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

23. 2017-08-09
    listed $399,000 Active 227-char remark

    Show marketing remark (227 chars)

    Ready to move in ! Come see this newly renovated home with a legal accessory apartment for income . Separate electric and furnace . Full unfinished basement with walk out. Additional Information: HeatingFuel:Oil Above Ground,

24. 2008-05-08
    historical
25. 2008-02-01
    listed
26. 2007-12-15
    historical
27. 2007-04-09
    listed
28. 2007-04-09
    historical
29. 2006-04-17
    listed

ⓘ 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: $15,253 · $1,271/mo
• Projected year-2 tax: $15,253 · $1,271/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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,907
• − Mortgage interest: −$37,810
• − Property taxes: −$15,253
• − Insurance: −$3,375
• − Repairs & maintenance: −$4,553
• − Management: −$4,553
• − Depreciation: −$19,636
• Taxable loss: −$28,273
• Est. tax savings @ 24.0%: +$6,785
• After-tax cash flow: $-9,363/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: Putnam Valley Central School District
• NCES district ID: 3624000
• Math proficiency: 73% ▬ 0.00%
• Reading proficiency: 71% ▲ 6.00%
• Median HH income: $94,086
• Composite: 65.26/100
• National rank: #491
• State rank: #91 of 590 in NY

Livability — Lake Mohegan

• Score: 71/100
• State rank: #417
• US rank: #7240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,361
• Population (ZIP): 8,825

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 16% Two or more races 6% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Iranian 3% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 9% Arabic 3% Other Indo-European 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.42%
• Current HPI: 269.3211
• Rent YoY: —
• Metro: —
• 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

+69.2% since first listed

15 events — show timeline

• 2026-05-20 Listed $675,000 Smart MLS
• 2026-05-14 Listed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-20 Sold (Public Records) $375,100 Public Records
• 2018-07-06 Sold (MLS) $375,000 OneKey® MLS as Distributed by MLS Grid
• 2018-05-16 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-05-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2018-04-28 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-12-08 Price Changed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2017-08-09 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2008-05-08 Delisted — HGMLS
• 2008-02-01 Listed — HGMLS
• 2007-12-15 Delisted — HGMLS
• 2007-04-09 Delisted — HGMLS
• 2007-04-09 Listed — HGMLS
• 2006-04-17 Listed — HGMLS

Property tax history

+13.2%/yr

Latest (2025): $15,253 · +2.8% YoY. Source: county tax records.