265 Sylvan Falls Rd

Parishville, NY 13676

$49,000A-

4 bd · 1.0 ba · 840 sqft · Built 1972 · Manufactured · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,331/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $707/mo
• Annual: $8,486/yr
• Cap rate: 23.61%
• Cash-on-cash: 61.85%
• DSCR: 3.75
• 1% rule: 2.72%
• Cash to close: $13,720

Investor read

• This is a 4-bed/1.0-bath manufactured listed at $49k.
• At list price, monthly cash flow is $707 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• It's been on market 19 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($339 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#997 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: employment C-, health & safety C-, crime F.
• Parishville-Hopkinton Central School District (rural): math 65% / reading 51% proficiency, ranked #326 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 117 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1972 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.