14 Wolcott St

Camden, NY 13316

$89,900B+

3 bd · 1.5 ba · 1,368 sqft · Built 1816 · SingleFamily · Active · 334 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,255/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$655
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $-135/mo
• Annual: $-1,616/yr
• Cap rate: 10.64%
• Cash-on-cash: 15.53%
• DSCR: 1.69
• 1% rule: 1.40%
• Cash to close: $25,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $90k.
• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $66k (26.5% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 334 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (26.5% below list) — sets the bar for cash-flow.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#549 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Camden Central School District (rural): math 34% / reading 48% proficiency, ranked #504 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $460/mo; built in 1816 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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 $75k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.6% vs local median 3.0% in Camden — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• It's been on market 334 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1816 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.