1434 Ryan Rd

Almond, NY 14804

$162,900D-

3 bd · 2.0 ba · 1,836 sqft · Built 2005 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$854
• Tax + insurance: −$370
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-220/mo
• Annual: $-2,645/yr
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• 1% rule: 0.78%
• Cash to close: $45,612

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $163k.
• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (22.0% below list).
• It's been on market 15 days — a 2% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (23.9% below list) — sets the bar for cash-flow.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.6% local appreciation)).
• Location reads 63/100 on livability (#801 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Alfred-Almond Central School District (rural): math 50% / reading 55% proficiency, ranked #345 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Alfred-Almond Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 279 students, 47% FRL); Alfred-Almond Junior-Senior High School (math 57% / reading 62%, grade C+, #851 of 1,100 statewide, top 80%, 272 students, 42% FRL) — zoned schools average 45% FRL vs 27% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y ago 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.
• Current owner paid $25k; list at $163k implies a 561% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.