97 Bradley Rd

Eastchester, NY 10583

$1,200,000D+

4 bd · 3.0 ba · 2,562 sqft · Built 1990 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,671/mo
• Mortgage (P&I): −$6,293
• Tax + insurance: −$2,698
• HOA: −$0
• Vac / Maint / Mgmt: −$2,241
• Net cashflow: $-560/mo
• Annual: $-6,721/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• 1% rule: 0.89%
• Cash to close: $336,000

Investor read

• This is a 4-bed/3.0-bath single-family listed at $1.20M.
• At list price, monthly cash flow is $-560 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.10M (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (11.1% below list).
• It's been on market 26 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.07M (11.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: 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 5.7% 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.
• At $10,671/mo this rent would consume 51% of the median local household income ($250k/yr) (locally 560% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.