310 Woodchuck Hill Rd

Newport, NY 13416

$67,900B

1 bd · 2.0 ba · 720 sqft · Built 1975 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $835/mo
• Mortgage (P&I): −$356
• Tax + insurance: −$110
• HOA: −$0
• Vac / Maint / Mgmt: −$175
• Net cashflow: $193/mo
• Annual: $2,319/yr
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• 1% rule: 1.23%
• Cash to close: $19,012

Investor read

• This is a 1-bed/2.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($835 rent vs $68k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($469 loan paydown + $3k appreciation (3.9% local appreciation)).
• Location reads 62/100 on livability (#867 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities F.
• West Canada Valley Central School District (rural): math 54% / reading 57% proficiency, ranked #296 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Canada Valley Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 315 students, 49% FRL); West Canada Valley Junior-Senior High School (math 52% / reading 52%, grade D+, #946 of 1,100 statewide, top 88%, 293 students, 51% FRL) — zoned schools average 50% FRL vs 33% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 16 active listings in the ZIP; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).
• Herkimer County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1975 — 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.
• Crime grade is D 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?
• 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.