37 Fox St

Ravena, NY 12158

$180,000C

3 bd · 2.0 ba · 1,748 sqft · Built 1925 · SingleFamily · Pending · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,903/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$369
• HOA: −$0
• Vac / Maint / Mgmt: −$400
• Net cashflow: $191/mo
• Annual: $2,291/yr
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• 1% rule: 1.06%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 46 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#489 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, schools B; Watch: amenities F, commute F, health & safety D-.
• Ravena-Coeymans-Selkirk Central School District (town): math 45% / reading 49% proficiency, ranked #410 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 7.6% vs local median 3.0% in Ravena — 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

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1925 — 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?
• 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.