9994 Oakland St

Dalton, NY 14836

$124,999C-

2 bd · 1.5 ba · 1,548 sqft · Built 1900 · SingleFamily · Pending · 225 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $13/mo
• Annual: $155/yr
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• 1% rule: 0.96%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.5-bath single-family listed at $125k.
• At list price, monthly cash flow is $13 ($155/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 $120k (3.6% below list).
• It's been on market 225 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.8% local appreciation)).
• Location reads 56/100 on livability (#1,112 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: employment C-, crime F, amenities F.
• Dalton-Nunda Central School District (Keshequa) (rural): math 39% / reading 42% proficiency, ranked #515 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dalton-Nunda Primary School (math 15% / reading 24%, grade F, #1,972 of 2,108 statewide, top 94%, 164 students, 60% FRL); Dalton-Nunda Intermediate School (math 42% / reading 37%, grade F, #418 of 729 statewide, top 59%, 111 students, 0% FRL); Dalton-Nunda Secondary School (math 42% / reading 52%, grade D-, #1,007 of 1,100 statewide, top 93%, 269 students, 50% FRL) — zoned schools at 37% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 12y 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 $82k; list at $125k implies a 52% gain — meaningful room to come down on a strong offer.
• At projected returns (5.8% 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

• It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.