509 Bush Hill Rd

Rushford, NY 14737

$125,000C-

3 bd · 1.0 ba · 1,008 sqft · Built 1976 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,025/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$119
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $35/mo
• Annual: $417/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• 1% rule: 0.82%
• Cash to close: $35,000

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $125k.
• At list price, monthly cash flow is $35 ($417/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (18.0% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $102k (18.0% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.9% local appreciation)).
• Location reads 55/100 on livability (#1,140 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: employment D+, schools F, crime F.
• Cuba-Rushford Central School District (rural): math 44% / reading 61% proficiency, ranked #350 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 128 units permitted in Cattaraugus County in 2024 (21 in 5+ unit buildings).
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1976 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.