4 Bridge St

Greenwich, NY 12834

$143,000F

1 bd · 1.0 ba · 648 sqft · Built 2004 · SingleFamily · Active · 243 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $893/mo
• Mortgage (P&I): −$750
• Tax + insurance: −$552
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $-596/mo
• Annual: $-7,157/yr
• Cap rate: 1.29%
• Cash-on-cash: -17.88%
• DSCR: 0.20
• 1% rule: 0.62%
• Cash to close: $40,040

Investor read

• This is a 1-bed/1.0-bath single-family listed at $143k.
• At list price, monthly cash flow is $-596 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (28.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (37.5% below list).
• It's been on market 243 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (37.5% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($989 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#507 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment A-; Watch: health & safety D, amenities F, commute F.
• Greenwich Central School District (town): math 59% / reading 60% proficiency, ranked #266 of 755 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenwich Elementary School (math 44% / reading 64%, grade C, #908 of 2,108 statewide, top 46%, 466 students, 37% FRL); Greenwich Junior-Senior High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 429 students, 32% FRL).
• Zoned-school proficiency averages 73% at this address vs 60% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Greenwich Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 4.1% of price.
• Market conditions: 24 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 243 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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?
• 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.