9422 Maynard Dr

Marcy, NY 13403

$284,900D

3 bd · 1.0 ba · 1,800 sqft · Built 1930 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,662/mo
• Mortgage (P&I): −$1,494
• Tax + insurance: −$395
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $-577/mo
• Annual: $-6,918/yr
• Cap rate: 3.86%
• Cash-on-cash: -8.67%
• DSCR: 0.61
• 1% rule: 0.58%
• Cash to close: $79,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $-577 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (35.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (41.7% below list).
• It's been on market 40 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (41.7% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Whitesboro Central School District (suburban): math 68% / reading 61% proficiency, ranked #174 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 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.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $84k; list at $285k implies a 237% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.