1541 County Route 7

Hannibal, NY 13126

$129,900B

3 bd · 2.0 ba · 1,280 sqft · Built 1996 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,861/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$391
• Net cashflow: $600/mo
• Annual: $7,204/yr
• Cap rate: 11.84%
• Cash-on-cash: 19.81%
• DSCR: 1.88
• 1% rule: 1.43%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-2.2%/yr); year-one equity from $898 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,033 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Hannibal Central School District (rural): math 38% / reading 50% proficiency, ranked #471 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairley School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 494 students, 69% FRL); Kenney Middle School (math 23% / reading 37%, grade F, #539 of 729 statewide, top 74%, 346 students, 78% FRL); Hannibal High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 359 students, 73% FRL) — zoned schools average 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+19.2%/yr); 169 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.2% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• This rent runs 34% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.