281 Garth Rd Unit B6F · Eastchester, NY 10583

$490,000

2 bd · 2.0 ba · 1,250 sqft · Condo · 6 Days on market

Built 1959 Poor condition

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Why this score? — see what drove the D 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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +7.2/10.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully Renovated, sunny, corner 2-bedroom, 2 bath CO-OP in a doorman building. New kitchen has Quartz counters, Stainless Steel Appliances, New Cabinets and New Floor. The oversized living room, 30 feet, can accommodate both a dining and living area and has a door leading to the private screened balcony overlooking tree lined Garth Rd and Garth Rd Park. The den/dining room has a closet and can easily be a home office or third bedroom. The corner Master Bedroom suite has a new private bath with walk-in shower. Other features include New Hall Bath, eleven large closets (one walk-in), refinished parquet floors, new molding, new six panel doors and laundry on Floor! Abundant FREE parking nearby with Garth Road Permit, good on Garth Road, Grayrock Road and the Resident Lot. Playground across the street. Maintenance prior to Star Credit of $114. Close to Scarsdale Village, Metro North Train w/30 min to GCT Eligible for to join the Town’s Lake Isle Park, tennis, golf and summer swimming. Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• Quartz countertops
• Screened balcony
• Full time doorman

Tags

• OVERSIZED WINDOWS
• SCREENED BALCONY
• RENOVATED WINDOWED KITCHEN
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• FULL TIME DOORMAN

Property features AI

Finance

• Other: Building offers bicycle room and outdoor space
• HOA & community: Association: Garthchester Realty; Association covers common area maintenance, exterior maintenance, gas, grounds care, heat, hot water, sewer, snow removal, trash, and water; Additional monthly assessment fee of $88.80

Exterior

• Parking: Garage parking (1 garage space); On-street parking; Underground parking
• Security: Building security
• Utilities: Electric service by Con Edison; Public sewer; Cable connected; Public trash collection; Underground utilities
• Home design: Stock cooperative (co-op) in a planned development; Six-story building; unit on one level; Unit located on 6th floor
• Construction: Brick construction
• Exterior features: Balcony/terrace; Near golf course; Near public transit; Near schools; Sidewalks

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Entry at 6th floor (unit listed as 6th floor)
• Flooring: Carpet; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; Oil heating; Wall/window air conditioning units
• Interior features: Walk-through kitchen; Common-area laundry and separate laundry room; Covered, screened terrace/balcony; New windows with screens; Basement with common and storage space; Bicycle room and outdoor space in building; Building security
• Laundry & utility: Common-area laundry; On-site laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $490k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $490k).
• Cap rate 6.0% vs local median 4.2% in Eastchester — 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.

Location & tenants

• Location reads 78/100 on livability (#159 in NY, #2,451 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D-, cost of living F, health & safety D-.
• Eastchester Union Free School District (suburban): math 79% / reading 80% proficiency, ranked #42 of 590 in NY (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Greenvale School (math 88% / reading 88%, grade A+, #64 of 2,108 statewide, top 3%, 508 students, 0% FRL); Eastchester Middle School (math 56% / reading 76%, grade A-, #118 of 729 statewide, top 16%, 694 students, 0% FRL); Eastchester Senior High School (math 100% / reading 84%, grade A+, #171 of 1,100 statewide, top 18%, 976 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 293 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $395k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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.

Recommended offer $490,000

Questions for the listing agent

1. 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?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.17% ✓
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-90,907
• Equity at exit: $73,061

10-year hold

• IRR: -10.9%
• Equity multiple: 0.33×
• Total profit: $-91,422
• Equity at exit: $42,366

Cash invested: $137,200 (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 10583

• Active inventory: 293
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $5,756 high
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$1,290
• Vacancy / Maint / Mgmt: −$1,209
• Net cashflow: $-195

Break-even live

Break-even rent $6,003

Max offer price $461,767

Occupancy floor 98%

Sensitivity live

Price	-10% $144	-5% $-26	+0% $-195	+5% $-364	+10% $-534
Rent	-10% $-650	-5% $-422	+0% $-195	+5% $32	+10% $260
Rate	-1.0pp $52	-0.5pp $-70	base $-195	+0.5pp $-322	+1.0pp $-451

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Grand Blvd Unit 2 Scarsdale, NY	3.0	2.0	1500	$6,100	$4.07	44d	1	0.27mi
837 White Plains Rd Unit 3R Scarsdale, NY	2.0	1.0	950	$2,500	$2.63	8d	1	0.61mi
45 Popham Rd Unit 5L Scarsdale, NY	2.0	2.0	1041	$5,100	$4.90	8d	1	0.65mi
154 Bell Rd Scarsdale, NY	3.0	2.5	1611	$7,900	$4.90	0d	1	0.73mi
155 White Rd Scarsdale, NY	3.0	1.5	1232	$6,900	$5.60	0d	1	1.04mi
155 White Rd Scarsdale, NY	3.0	1.5	1632	$7,000	$4.29	44d	1	1.04mi
106 White Rd Scarsdale, NY	3.0	2.0	1700	$5,800	$3.41	0d	1	1.05mi
106 White Rd Scarsdale, NY	3.0	2.0	1700	$5,999	$3.53	23d	1	1.05mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-18
   status Pending 1999-char remark
2. 2026-04-10
   listed $490,000 Active 1999-char remark
3. 2022-03-07
   soldstatus $395,000 Closed 1057-char remark

   Show marketing remark (1057 chars)

   Fully Renovated, sunny, corner 2-bedroom, 2 bath CO-OP in a doorman building. New kitchen has Quartz counters, Stainless Steel Appliances, New Cabinets and New Floor. The oversized living room, 30 feet, can accommodate both a dining and living area and has a door leading to the private screened balcony overlooking tree lined Garth Rd and Garth Rd Park. The den/dining room has a closet and can easily be a home office or third bedroom. The corner Master Bedroom suite has a new private bath with walk-in shower. Other features include New Hall Bath, eleven large closets (one walk-in), refinished parquet floors, new molding, new six panel doors and laundry on Floor! Abundant FREE parking nearby with Garth Road Permit, good on Garth Road, Grayrock Road and the Resident Lot. Playground across the street. Maintenance prior to Star Credit of $114. Close to Scarsdale Village, Metro North Train w/30 min to GCT Eligible for to join the Town’s Lake Isle Park, tennis, golf and summer swimming. Additional Information: HeatingFuel:Oil Above Ground,

4. 2022-01-06
   status Pending 1057-char remark

   Show marketing remark (1057 chars)

   Fully Renovated, sunny, corner 2-bedroom, 2 bath CO-OP in a doorman building. New kitchen has Quartz counters, Stainless Steel Appliances, New Cabinets and New Floor. The oversized living room, 30 feet, can accommodate both a dining and living area and has a door leading to the private screened balcony overlooking tree lined Garth Rd and Garth Rd Park. The den/dining room has a closet and can easily be a home office or third bedroom. The corner Master Bedroom suite has a new private bath with walk-in shower. Other features include New Hall Bath, eleven large closets (one walk-in), refinished parquet floors, new molding, new six panel doors and laundry on Floor! Abundant FREE parking nearby with Garth Road Permit, good on Garth Road, Grayrock Road and the Resident Lot. Playground across the street. Maintenance prior to Star Credit of $114. Close to Scarsdale Village, Metro North Train w/30 min to GCT Eligible for to join the Town’s Lake Isle Park, tennis, golf and summer swimming. Additional Information: HeatingFuel:Oil Above Ground,

5. 2021-10-23
   listed $419,000 Active 1057-char remark

   Show marketing remark (1057 chars)

   Fully Renovated, sunny, corner 2-bedroom, 2 bath CO-OP in a doorman building. New kitchen has Quartz counters, Stainless Steel Appliances, New Cabinets and New Floor. The oversized living room, 30 feet, can accommodate both a dining and living area and has a door leading to the private screened balcony overlooking tree lined Garth Rd and Garth Rd Park. The den/dining room has a closet and can easily be a home office or third bedroom. The corner Master Bedroom suite has a new private bath with walk-in shower. Other features include New Hall Bath, eleven large closets (one walk-in), refinished parquet floors, new molding, new six panel doors and laundry on Floor! Abundant FREE parking nearby with Garth Road Permit, good on Garth Road, Grayrock Road and the Resident Lot. Playground across the street. Maintenance prior to Star Credit of $114. Close to Scarsdale Village, Metro North Train w/30 min to GCT Eligible for to join the Town’s Lake Isle Park, tennis, golf and summer swimming. Additional Information: HeatingFuel:Oil Above Ground,

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,078
• − Mortgage interest: −$27,448
• − Property taxes: −$7,350
• − Insurance: −$3,248
• − Repairs & maintenance: −$5,526
• − Management: −$5,526
• − HOA: −$15,480
• − Depreciation: −$14,255
• Taxable loss: −$9,754
• Est. tax savings @ 24.0%: +$2,341
• After-tax cash flow: $0/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 · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to its exterior and interior, significantly impacting its current condition and value.

Repairs flagged

• Major exterior siding — The siding appears to be peeling and in poor condition
• Major interior paint — The interior walls and ceiling appear to be in need of repainting

Value-add opportunities

• Both exterior siding repair and repainting — Improves curb appeal and overall condition
• Both interior painting — Enhances the appearance and value of the interior

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding appears to be peeling and in poor condition	Major	$15,000–50,000
interior paint · The interior walls and ceiling appear to be in need of repainting	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both exterior siding repair and repainting — Improves curb appeal and overall condition ↑
• Both interior painting — Enhances the appearance and value of the interior ↑

ⓘ 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: Eastchester Union Free School District
• NCES district ID: 3610080
• Math proficiency: 79% ▲ 1.00%
• Reading proficiency: 80% ▲ 9.00%
• Median HH income: $96,944
• Composite: 71.74/100
• National rank: #216
• State rank: #42 of 590 in NY

Livability — Eastchester

• Score: 78/100
• State rank: #159
• US rank: #2451

Category grades

Amenities D- Commute A+ 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

• Census place: Eastchester, NY
• County: Westchester County · 709,332 people
• City population: 10,274
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,207
• Household income: $250,001
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 560.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Asian 20% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 5% Italian 3%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Chinese 6% Spanish 5%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -851.83%
• Current HPI: 283.4725
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+16.9% since first listed

5 events — show timeline

• 2026-05-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-10 Listed $490,000 OneKey® MLS as Distributed by MLS Grid
• 2022-03-07 Sold (MLS) $395,000 OneKey® MLS as Distributed by MLS Grid
• 2022-01-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-10-23 Listed $419,000 OneKey® MLS as Distributed by MLS Grid