31139 County Route 30

Fort Drum, NY 13637

$59,900B+

3 bd · 1.0 ba · 756 sqft · Built 1992 · Manufactured · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,268/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $591/mo
• Annual: $7,089/yr
• Cap rate: 18.13%
• Cash-on-cash: 42.27%
• DSCR: 2.88
• 1% rule: 2.12%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($414 loan paydown + $5k appreciation (9.0% local appreciation)).
• Location reads 60/100 on livability (#996 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, housing B; Watch: employment C-, health & safety D, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evans Mills Primary School (math 37% / reading 54%, grade D-, #1,268 of 2,108 statewide, top 60%, 375 students, 60% FRL); Indian River Middle School (math 26% / reading 50%, grade F, #442 of 729 statewide, top 61%, 672 students, 60% FRL); Indian River High School (math 98% / reading 90%, grade A+, #124 of 1,100 statewide, top 12%, 781 students, 49% FRL) — zoned schools average 57% FRL vs 28% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 59% at this address vs 42% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Indian River Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 24 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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

• 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.