935 Goshen St

Windham, NY 12444

$429,000C

3 bd · 1.0 ba · 1,314 sqft · Built 1970 · SingleFamily · Active · 316 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,669/mo
• Mortgage (P&I): −$2,250
• Tax + insurance: −$387
• HOA: −$0
• Vac / Maint / Mgmt: −$771
• Net cashflow: $262/mo
• Annual: $3,144/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• 1% rule: 0.86%
• Cash to close: $120,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $429k.
• At list price, monthly cash flow is $262 ($3k/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 $367k (14.5% below list).
• It's been on market 316 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $367k (14.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.2%/yr); year-one equity from $3k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#964 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools C-, crime D+, cost of living D+.
• Windham-Ashland-Jewett Central School District (rural): math 55% / reading 40% proficiency, ranked #517 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 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.
• 2 sale attempts; this cycle's ask is 25135% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Cap rate 7.0% vs local median 3.2% in Windham — 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

• It's been on market 316 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.