299 Peekskill Hollow Rd · Shrub Oak, NY 10579

$549,000

2 bd · 3.0 ba · 2,901 sqft · MultiFamily · 30 Days on market

Built 1900 Good condition 0.52 ac lot $189/sqft · 72% below area

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Why this score? — see what drove the A- 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks

Prime mixed-use income-producing opportunity in Putnam Valley featuring a fully operational street-level deli/grocery storefront with residential living space above. This approximately 2,901 sq ft property offers excellent visibility along Peekskill Hollow Road with strong daily traffic exposure and direct road frontage. The commercial space includes retail, storage, office, prep, and service areas, while the upper-level residential unit features 2 bedrooms, 1 full bath, an eat-in kitchen, and spacious living areas. Situated on a 0.52-acre lot with on-site parking, outdoor patio space, and convenient access to Route 6 and the Taconic State Parkway. Ideal opportunity for owner-users, investo

Key facts

• Excellent visibility
• Direct road frontage
• Outdoor patio space

Tags

• RESIDENTIAL LIVING SPACE
• EXCELLENT VISIBILITY
• STRONG DAILY TRAFFIC EXPOSURE
• DIRECT ROAD FRONTAGE
• OUTDOOR PATIO SPACE
• CONVENIENT ACCESS TO ROUTE 6

Property features AI

Exterior

• Parking: Space for 6 vehicles; Driveway parking; On-street parking
• Utilities: Public sewer; Electricity connected; Water connected
• Home design: Duplex; Approximately 2901 total building area
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: At least one 2-bedroom unit
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Storage space; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath multifamily listed at $549k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $549k).
• Recommended offer: $541k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#342 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment 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.
• Market conditions: 51 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 $59k of equity ($4k loan paydown + $55k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($541k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $540,765 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.75%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $1,936,370
• List price: $549,000
• Delta: -71.65%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 39.8%
• Equity multiple: 4.05×
• Total profit: $468,457
• Equity at exit: $494,583

10-year hold

• IRR: 34.3%
• Equity multiple: 9.11×
• Total profit: $1,246,612
• Equity at exit: $1,066,586

Cash invested: $153,720 (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: 51
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $8,168 medium
• Mortgage (P&I): −$2,879
• Tax est. 1.5%: −$686 /mo · $8,235/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,715
• Net cashflow: $2,659

Break-even live

Break-even rent $4,803

Max offer price $549,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$4,350
1× unit	0	0	$3,818
Total (2 units)			$8,168

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-10
   days on market $549,000 Active 30 DOM
2. 2026-06-09
   days on market $549,000 Active 29 DOM
3. 2026-06-08
   days on market $549,000 Active 28 DOM
4. 2026-06-07
   days on market $549,000 Active 27 DOM
5. 2026-06-03
   days on market $549,000 Active 23 DOM
6. 2026-06-02
   days on market $549,000 Active 22 DOM
7. 2026-06-01
   days on market $549,000 Active 21 DOM
8. 2026-05-31
   days on market $549,000 Active 20 DOM
9. 2026-05-30
   days on market $549,000 Active 19 DOM
10. 2026-04-20
    listed $549,000 Active 736-char remark

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

Taxation est. · year 1

• Rental income: $98,016
• − Mortgage interest: −$30,753
• − Property taxes: −$8,235
• − Insurance: −$2,745
• − Repairs & maintenance: −$7,841
• − Management: −$7,841
• − Depreciation: −$15,971
• Taxable income: $24,630
• Est. tax owed @ 24.0%: −$5,911
• After-tax cash flow: $25,993/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This mixed-use property offers a good condition with a fully operational deli/grocery storefront and a residential unit above. It is located on a prime location with excellent visibility and direct road frontage. The property is in good condition with minimal maintenance required.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and property value
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and property value ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Shrub Oak

• Score: 72/100
• State rank: #342
• US rank: #5781

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: 3,081
• 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

1 event — show timeline

• 2026-04-20 Listed $549,000 OneKey® MLS as Distributed by MLS Grid