4 North St

Camden, NY 13316

$145,900C+

4 bd · 1.5 ba · 1,724 sqft · Built 1890 · SingleFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,368/mo
• Mortgage (P&I): −$765
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $83/mo
• Annual: $992/yr
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• 1% rule: 0.94%
• Cash to close: $40,852

Investor read

• This is a 4-bed/1.5-bath single-family listed at $146k.
• At list price, monthly cash flow is $83 ($992/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 $137k (6.3% below list).
• It's been on market 82 days — a 6% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (6.3% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k 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.
• Zoned schools: Camden Elementary School (math 27% / reading 62%, grade F, #1,277 of 2,108 statewide, top 64%, 510 students, 45% FRL); Camden Middle School (math 17% / reading 42%, grade F, #550 of 729 statewide, top 77%, 580 students, 48% FRL); Camden Senior High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 620 students, 45% FRL) — zoned schools at 46% FRL track the district average.
• Watch-outs: built in 1890 — 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.0% 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

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1890 — 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.
• 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.