665 Mount Hunger Rd

Lisle, NY 13797

$175,000D+

3 bd · 2.0 ba · 1,344 sqft · Built 2009 · Manufactured · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,229/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$218
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $-165/mo
• Annual: $-1,979/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.04%
• DSCR: 0.82
• 1% rule: 0.70%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (29.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $123k (29.8% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (7.6% local appreciation)).
• Location reads 57/100 on livability (#1,090 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Whitney Point Central School District (rural): math 47% / reading 52% proficiency, ranked #390 of 590 in NY (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caryl E Adams Primary School (math 67% / reading 62%, grade B, #591 of 2,108 statewide, top 31%, 463 students, 54% FRL); Tioughnioga Riverside Academy (math 33% / reading 49%, grade F, #402 of 729 statewide, top 56%, 516 students, 54% FRL); Whitney Point Senior High School (math 92%, 402 students, 56% FRL).
• Market conditions: 3 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 13y 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 $135k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, 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

• 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 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?
• 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.