2 Daisy Dr

Port Jervis, NY 12771

$27,000D

3 bd · 1.5 ba · 1,000 sqft · Built 1984 · Manufactured · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,087/mo
• Mortgage (P&I): −$142
• Tax + insurance: −$45
• HOA: −$970
• Vac / Maint / Mgmt: −$438
• Net cashflow: $492/mo
• Annual: $5,901/yr
• Cap rate: 28.15%
• Cash-on-cash: 78.06%
• DSCR: 4.47
• 1% rule: 7.73%
• Cash to close: $7,560

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $27k.
• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $27k).
• It's been on market 17 days — a 2% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $187 of loan paydown is wiped out by about $810 of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#475 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, amenities B+, cost of living B+; Watch: housing C-, crime D+, employment F.
• Port Jervis City School District (rural): math 43% / reading 50% proficiency, ranked #451 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anna S Kuhl Elementary School (math 35% / reading 49%, grade F, #1,361 of 2,108 statewide, top 67%, 755 students, 63% FRL); Port Jervis Middle School (math 22% / reading 35%, grade F, #569 of 729 statewide, top 78%, 379 students, 59% FRL); Port Jervis Senior High School (math 87% / reading 95%, grade A+, #203 of 1,100 statewide, top 20%, 750 students, 55% FRL).
• Watch-outs: HOA is 46% of rent.
• Market conditions: 110 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 28.1% vs local median 4.5% in Port Jervis — 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.
• This rent runs 37% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.