344 Doris Ave

Endicott, NY 13850

$180,000D-

4 bd · 1.5 ba · 1,710 sqft · Built 1943 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,550/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$637
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $-357/mo
• Annual: $-4,280/yr
• Cap rate: 3.92%
• Cash-on-cash: -8.49%
• DSCR: 0.62
• 1% rule: 0.86%
• Cash to close: $50,400

Investor read

• This is a 4-bed/1.5-bath single-family listed at $180k.
• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (13.9% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $135k (25.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#438 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Vestal Central School District (suburban): math 63% / reading 68% proficiency, ranked #168 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Clayton Avenue Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 248 students, 49% FRL) — zoned schools average 49% FRL vs 17% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.7% of price; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 13y ago 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 $89k; list at $180k implies a 103% gain — meaningful room to come down on a strong offer.
• Cap rate 3.9% vs local median 5.5% in Endicott — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• Built in 1943 — 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.
• 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?
• 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.