50 White Oak St Unit 3G

New Rochelle, NY 10801

$164,900B+

1 bd · 1.0 ba · 900 sqft · Built 1952 · Condo · Active · 356 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,833/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$400
• HOA: −$0
• Vac / Maint / Mgmt: −$595
• Net cashflow: $973/mo
• Annual: $11,681/yr
• Cap rate: 14.29%
• Cash-on-cash: 28.55%
• DSCR: 2.27
• 1% rule: 1.72%
• Cash to close: $46,172

Investor read

• This is a 1-bed/1.0-bath condo listed at $165k.
• At list price, monthly cash flow is $973 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• It's been on market 356 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.
• Watch-outs: flood insurance adds $125/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 138 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 17 sale attempts since 21y 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 $112k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.
• 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 14.3% vs local median 4.5% 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 40% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.