9 Mallard Dr

Plattsburgh West, NY 12901

$179,000D

3 bd · 2.0 ba · 1,188 sqft · Built 2003 · Manufactured · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,636/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$342
• HOA: −$0
• Vac / Maint / Mgmt: −$344
• Net cashflow: $11/mo
• Annual: $135/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• 1% rule: 0.91%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $179k.
• At list price, monthly cash flow is $11 ($135/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 $164k (8.6% below list).
• It's been on market 75 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (8.6% below list) — sets the bar for 1% rule.
• 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 65/100 on livability (#679 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Beekmantown Central School District (rural): math 45% / reading 57% proficiency, ranked #360 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cumberland Head Elementary School (math 57% / reading 67%, grade B, #675 of 2,108 statewide, top 35%, 538 students, 46% FRL); Beekmantown Middle School (math 30% / reading 53%, grade F, #394 of 729 statewide, top 55%, 450 students, 49% FRL); Beekmantown High School (math 92% / reading 50%, grade B+, #701 of 1,100 statewide, top 64%, 546 students, 49% FRL).
• Market conditions: 184 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $129k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.