4636 Alabama Rd

Medina, NY 14103

$165,000D

2 bd · 1.5 ba · 1,881 sqft · Built 1950 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,403/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$479
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $-236/mo
• Annual: $-2,838/yr
• Cap rate: 4.57%
• Cash-on-cash: -6.14%
• DSCR: 0.73
• 1% rule: 0.85%
• Cash to close: $46,200

Investor read

• This is a 2-bed/1.5-bath single-family listed at $165k.
• At list price, monthly cash flow is $-236 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (15.0% below list).
• It's been on market 16 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (25.3% below list) — sets the bar for cash-flow.
• In year one you build about $705 of equity ($1k loan paydown + $-436 appreciation (-0.3% local appreciation)).
• Location reads 72/100 on livability (#344 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Medina Central School District (town): math 37% / reading 38% proficiency, ranked #548 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.0% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 57 active listings in the ZIP; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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.