129 Havana Glen Rd. Rd

Montour Falls, NY 14865

$125,000C-

3 bd · 1.5 ba · 1,129 sqft · Built 1940 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,106/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $83/mo
• Annual: $990/yr
• Cap rate: 7.09%
• Cash-on-cash: 2.83%
• DSCR: 1.13
• 1% rule: 0.88%
• Cash to close: $35,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $125k.
• At list price, monthly cash flow is $83 ($990/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (11.6% below list).
• It's been on market 28 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (11.6% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($864 loan paydown + $5k appreciation (4.2% local appreciation)).
• Location reads 63/100 on livability (#786 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety D, amenities F, commute F.
• Odessa-Montour Central School District (rural): math 41% / reading 60% proficiency, ranked #383 of 590 in NY (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: B C Cate Elementary School (239 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.