7065 Pleasant Vly

Richburg, NY 14715

$59,900B+

3 bd · 2.0 ba · 1,472 sqft · Built 2000 · Manufactured · Pending · 219 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,188/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $524/mo
• Annual: $6,291/yr
• Cap rate: 16.79%
• Cash-on-cash: 37.51%
• DSCR: 2.67
• 1% rule: 1.98%
• Cash to close: $16,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 219 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($414 loan paydown + $3k appreciation (4.4% local appreciation)).
• Location reads 60/100 on livability (#994 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, schools D-.
• Bolivar-Richburg Central School District (rural): math 50% / reading 51% proficiency, ranked #395 of 590 in NY (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• Schools are D-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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Severe weathering and wear.
• Major: landscaping — Overgrown vegetation and unkempt lawn.
• Major: roof — No visible roof in the satellite image, likely in poor condition based on context.
• Major: interior walls and paint — No visible interior walls or paint, likely in poor condition based on context.
• Major: HVAC and mechanical systems — No visible systems or appliances, likely in poor condition based on context.
• Major: foundation and structure — No visible foundation or structure issues, but context suggests potential structural concerns based on the overall condition of the home.