43836 County Route 41

Natural Bridge, NY 13665

$59,900B

2 bd · 1.0 ba · 1,461 sqft · Built 1900 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,137/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $430/mo
• Annual: $5,160/yr
• Cap rate: 14.91%
• Cash-on-cash: 30.76%
• DSCR: 2.37
• 1% rule: 1.90%
• Cash to close: $16,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 41 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• In year one you build about $939 of equity ($414 loan paydown + $525 appreciation (0.9% local appreciation)).
• Location reads 58/100 on livability (#1,057 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D+, schools D, health & safety D.
• Carthage Central School District (rural): math 30% / reading 46% proficiency, ranked #539 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• 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.