None

Manchester, NY 14432

$61,999B

3 bd · 2.0 ba · 952 sqft · Built 2025 · Manufactured · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,052/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $403/mo
• Annual: $4,836/yr
• Cap rate: 14.09%
• Cash-on-cash: 27.86%
• DSCR: 2.24
• 1% rule: 1.70%
• Cash to close: $17,360

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $62k. Condition is rated good.
• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 36 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $428 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#562 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, employment D, amenities F.
• Manchester-Shortsville Central School District (Red Jacket) (rural): math 49% / reading 54% proficiency, ranked #343 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.