460 Idlewood Blvd

Village Green, NY 13027

$149,000C-

2 bd · 1.0 ba · 903 sqft · Built 1975 · Townhouse · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,709/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$207
• HOA: −$195
• Vac / Maint / Mgmt: −$359
• Net cashflow: $166/mo
• Annual: $1,997/yr
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• 1% rule: 1.15%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $149k.
• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#720 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B; Watch: employment C-, amenities F, commute F.
• Baldwinsville Central School District (suburban): math 47% / reading 53% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 222 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $44k; list at $149k implies a 235% gain — meaningful room to come down on a strong offer.
• Cap rate 7.6% vs local median 5.3% in Village Green — 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.