4179 Route 98

Strykersville, NY 14113

$129,900C-

3 bd · 1.0 ba · 1,346 sqft · Built 1890 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,283/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$271
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $61/mo
• Annual: $730/yr
• Cap rate: 6.85%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• 1% rule: 0.99%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $61 ($730/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (1.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $128k (1.2% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($898 loan paydown + $3k appreciation (2.5% local appreciation)).
• Location reads 64/100 on livability (#758 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B+; Watch: schools C-, crime F, amenities F.
• Attica Central School District (rural): math 52% / reading 54% proficiency, ranked #326 of 590 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 83 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).
• Wyoming County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1890 — 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.
• 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.