8 Center St

St. Regis Falls, NY 12980

$102,500C+

3 bd · 1.0 ba · 1,280 sqft · Built 1952 · SingleFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,091/mo
• Mortgage (P&I): −$538
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $190/mo
• Annual: $2,280/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• 1% rule: 1.06%
• Cash to close: $28,700

Investor read

• This is a 3-bed/1.0-bath single-family listed at $102k.
• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• It's been on market 39 days — a 3% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($709 loan paydown + $7k appreciation (6.7% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Saint Regis Falls Central School District (rural): math 35% / reading 35% proficiency, ranked #699 of 755 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $54k; list at $102k implies a 90% gain — meaningful room to come down on a strong offer.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• 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.