711 Vedder Mountain Rd

Leeds, NY 12414

$89,000B+

2 bd · 2.0 ba · 960 sqft · Built 2018 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,756/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$369
• Net cashflow: $706/mo
• Annual: $8,474/yr
• Cap rate: 15.81%
• Cash-on-cash: 34.01%
• DSCR: 2.51
• 1% rule: 1.97%
• Cash to close: $24,920

Investor read

• This is a 2-bed/2.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• It's been on market 16 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#1,026 in NY) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, cost of living B; Watch: schools F, crime F, amenities F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $336k (79%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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 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.