35 Shady Glen Ct Unit 3F

New Rochelle, NY 10805

$180,000C-

1 bd · 1.0 ba · 850 sqft · Built 1957 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,528/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$300
• HOA: −$794
• Vac / Maint / Mgmt: −$531
• Net cashflow: $-41/mo
• Annual: $-491/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• 1% rule: 1.40%
• Cash to close: $50,400

Investor read

• This is a 1-bed/1.0-bath single-family listed at $180k. Condition is rated average.
• At list price, monthly cash flow is $-41 ($-491/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (3.3% below list).
• Meets the 1% rule at list price ($3k rent vs $180k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $174k (3.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.5%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Trinity Elementary School (math 40% / reading 47%, grade F, #1,350 of 2,108 statewide, top 64%, 863 students, 66% FRL); Isaac E Young Middle School (math 47% / reading 62%, grade B-, #214 of 729 statewide, top 31%, 1,138 students, 76% FRL); New Rochelle High School (math 87% / reading 72%, grade A-, #518 of 1,100 statewide, top 51%, 3,076 students, 57% FRL) — zoned schools average 67% FRL vs 41% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 31% of rent; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• Climate carrying-cost: 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 6.0% vs local median 4.5% in New Rochelle — 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?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — dated design
• Minor: bathroom fixtures — standard, could be updated