412 N Liberty Dr

Verplanck, NY 10986

$475,000D

3 bd · 1.0 ba · 2,290 sqft · Built 1910 · SingleFamily · Pending · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,229/mo
• Mortgage (P&I): −$2,491
• Tax + insurance: −$744
• HOA: −$0
• Vac / Maint / Mgmt: −$678
• Net cashflow: $-684/mo
• Annual: $-8,211/yr
• Cap rate: 4.56%
• Cash-on-cash: -6.17%
• DSCR: 0.73
• 1% rule: 0.68%
• Cash to close: $133,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $475k.
• At list price, monthly cash flow is $-684 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $354k (25.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (32.0% below list).
• It's been on market 57 days — a 3% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $323k (32.0% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($3k loan paydown + $2k appreciation (0.3% local appreciation)).
• Location reads 69/100 on livability (#493 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: schools F, amenities F, cost of living F.
• Haverstraw-Stony Point CSD (North Rockland) (suburban): math 41% / reading 47% proficiency, ranked #427 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 57 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.