2580 County Route 17

North Granville, NY 12832

$42,000B

2 bd · 1.0 ba · 1,200 sqft · Built 1880 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,152/mo
• Mortgage (P&I): −$220
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $560/mo
• Annual: $6,724/yr
• Cap rate: 22.30%
• Cash-on-cash: 57.18%
• DSCR: 3.54
• 1% rule: 2.74%
• Cash to close: $11,760

Investor read

• This is a 2-bed/1.0-bath single-family listed at $42k.
• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.3%/yr); year-one equity from $290 of loan paydown is wiped out by about $545 of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Granville Central School District (town): math 38% / reading 43% proficiency, ranked #521 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Granville Junior-Senior High School (math 57% / reading 42%, grade D, #974 of 1,100 statewide, top 91%, 496 students, 40% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: property tax is 3.2% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 59 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.