63 Rossman Cir

Stottville, NY 12534

$429,000D

3 bd · 1.5 ba · 1,328 sqft · Built 1987 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,694/mo
• Mortgage (P&I): −$2,250
• Tax + insurance: −$534
• HOA: −$0
• Vac / Maint / Mgmt: −$566
• Net cashflow: $-655/mo
• Annual: $-7,864/yr
• Cap rate: 4.46%
• Cash-on-cash: -6.55%
• DSCR: 0.71
• 1% rule: 0.63%
• Cash to close: $120,120

Investor read

• This is a 3-bed/1.5-bath single-family listed at $429k.
• At list price, monthly cash flow is $-655 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (37.2% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $269k (37.2% below list) — sets the bar for 1% rule.
• In year one you build about $46k of equity ($3k loan paydown + $43k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#1,070 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A, housing A-; Watch: employment D+, amenities F, commute F.
• Kinderhook Central School District (rural): math 49% / reading 59% proficiency, ranked #294 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ichabod Crane Elementary School (math 62% / reading 67%, grade B, #591 of 2,108 statewide, top 31%, 486 students, 40% FRL); Ichabod Crane Middle School (math 34% / reading 57%, grade D+, #337 of 729 statewide, top 47%, 650 students, 44% FRL); Ichabod Crane Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 555 students, 37% FRL) — zoned schools average 40% FRL vs 21% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.9%/yr); 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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.
• Current owner paid $209k; list at $429k implies a 105% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 44% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 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?
• 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.