221 E Main St

Brownville, NY 13615

$135,000C

3 bd · 1.0 ba · 1,673 sqft · Built 1867 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,302/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $96/mo
• Annual: $1,146/yr
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• 1% rule: 0.96%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k. Condition is rated fair.
• At list price, monthly cash flow is $96 ($1k/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 $130k (3.6% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (3.6% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($933 loan paydown + $1k appreciation (0.9% local appreciation)).
• Location reads 65/100 on livability (#680 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living B; Watch: schools D, health & safety D, crime D-.
• General Brown Central School District (rural): math 39% / reading 57% proficiency, ranked #407 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1867 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1867 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Outdated and worn, need replacement
• Major: Bathroom cabinets — Outdated and worn, need replacement
• Moderate: Roof — Age is unknown, may need inspection
• Moderate: Exterior siding — Weathered and discolored, may need repainting or replacement
• Moderate: Windows — Older windows, may need replacement or caulking