35 Holly St

Akron, NY 14001

$34,900B+

2 bd · 1.0 ba · 980 sqft · Built 1976 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,263/mo
• Mortgage (P&I): −$183
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $757/mo
• Annual: $9,078/yr
• Cap rate: 32.30%
• Cash-on-cash: 92.90%
• DSCR: 5.13
• 1% rule: 3.62%
• Cash to close: $9,772

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $35k. Condition is rated good.
• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#297 in NY, #4,809 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: employment D+, amenities F, commute F.
• Clarence Central School District (suburban): math 70% / reading 76% proficiency, ranked #94 of 590 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Ledgeview Elementary School (math 70% / reading 82%, grade A, #285 of 2,108 statewide, top 14%, 473 students, 10% FRL); Clarence Middle School (math 47% / reading 73%, grade B, #157 of 729 statewide, top 22%, 972 students, 18% FRL); Clarence Senior High School (math 100% / reading 77%, grade A, #299 of 1,100 statewide, top 27%, 1,284 students, 17% FRL).
• Market conditions: 108 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 32.3% vs local median 4.4% in Akron — 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

• Built in 1976 — 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 A-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?
• 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.