30 E Hartsdale Ave Unit 4D

Greenville, NY 10530

$230,000C

1 bd · 1.0 ba · 950 sqft · Built 1952 · Condo · Pending · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,363/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$450
• HOA: −$934
• Vac / Maint / Mgmt: −$706
• Net cashflow: $67/mo
• Annual: $799/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• 1% rule: 1.46%
• Cash to close: $64,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $230k. Condition is rated good.
• At list price, monthly cash flow is $67 ($799/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• It's been on market 198 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#713 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools B+; Watch: amenities F, commute F, cost of living F.
• Greenburgh Central School District (suburban): math 51% / reading 55% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo; HOA is 28% of rent; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 156 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 3.1% in Greenville — 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

• It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 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?