109 Brooklyn Rd

Brasher Falls, NY 12967

$26,500B+

2 bd · 1.0 ba · 970 sqft · Built 1900 · Land · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $925/mo
• Mortgage (P&I): −$139
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$194
• Net cashflow: $531/mo
• Annual: $6,374/yr
• Cap rate: 30.35%
• Cash-on-cash: 85.90%
• DSCR: 4.82
• 1% rule: 3.49%
• Cash to close: $7,420

Investor read

• This is a 2-bed/1.0-bath land listed at $26k.
• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $26k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($183 loan paydown + $3k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#941 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety C-, employment D, crime F.
• Brasher Falls Central School District (rural): math 39% / reading 45% proficiency, ranked #499 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1900 — 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 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?
• 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.