61 White Oak St Unit 3A

New Rochelle, NY 10801

$165,000C

1 bd · 1.0 ba · 750 sqft · Built 1952 · Condo · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,769/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$400
• HOA: −$994
• Vac / Maint / Mgmt: −$582
• Net cashflow: $-72/mo
• Annual: $-861/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• 1% rule: 1.68%
• Cash to close: $46,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $165k. Condition is rated fair.
• At list price, monthly cash flow is $-72 ($-861/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (6.3% below list).
• Meets the 1% rule at list price ($3k rent vs $165k).
• It's been on market 165 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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: 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 57% FRL vs 41% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 64% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the New Rochelle City School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $125/mo; HOA is 36% of rent; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 172 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 40d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts; this cycle's ask is 27% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 6.7% vs local median 4.9% 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.
• This rent runs 39% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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)?

Repairs flagged (vision-AI assessment)

• Minor: Appliances — Appliances appear dated and may need replacement.
• Major: Landscaping — Overgrown areas and basic fence suggest lack of maintenance and low curb appeal.