514 Mark Twain Dr

Orange Lake, NY 12586

$60,000B

4 bd · 1.5 ba · 1,456 sqft · Built 1976 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,250/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$800
• Vac / Maint / Mgmt: −$472
• Net cashflow: $562/mo
• Annual: $6,750/yr
• Cap rate: 17.54%
• Cash-on-cash: 40.18%
• DSCR: 2.79
• 1% rule: 3.75%
• Cash to close: $16,800

Investor read

• This is a 4-bed/1.5-bath manufactured listed at $60k. Condition is rated fair.
• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#972 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Valley Central School District (Montgomery) (rural): math 54% / reading 53% proficiency, ranked #299 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Coldenham Elementary School (math 34% / reading 44%, grade F, #1,444 of 2,108 statewide, top 71%, 295 students, 47% FRL); Valley Central Middle School (math 28% / reading 42%, grade F, #480 of 729 statewide, top 66%, 982 students, 41% FRL); Valley Central High School (math 95% / reading 87%, grade A+, #203 of 1,100 statewide, top 20%, 1,346 students, 39% FRL) — zoned schools average 42% FRL vs 25% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 36% of rent.
• Market conditions: 72 active listings in the ZIP; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 17.5% vs local median 2.8% in Orange Lake — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — Worn appearance
• Minor: Kitchen cabinets — Worn appearance
• Minor: Bathroom walls — Discoloration
• Minor: Exterior siding — Discoloration
• Minor: Living room flooring — Worn appearance
• Minor: Interior walls/paint — Chipped paint