549 Route 374

Cadyville, NY 12981

$65,000B+

3 bd · 1.0 ba · 1,180 sqft · Built 1975 · SingleFamily · Pending · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,161/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $468/mo
• Annual: $5,620/yr
• Cap rate: 14.94%
• Cash-on-cash: 30.88%
• DSCR: 2.37
• 1% rule: 1.79%
• Cash to close: $18,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 62 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($449 loan paydown + $2k appreciation (3.4% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Saranac Central School District (rural): math 43% / reading 56% proficiency, ranked #374 of 590 in NY (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morrisonville Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 358 students, 33% FRL); Saranac Middle School (math 31% / reading 57%, grade D, #363 of 729 statewide, top 50%, 371 students, 38% FRL); Saranac High School (math 98% / reading 70%, grade A, #409 of 1,100 statewide, top 39%, 414 students, 36% FRL).
• Market conditions: 16 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — The cabinets are in poor condition and need replacement or repair.
• Major: Bathroom fixtures — The fixtures are outdated and need replacement.
• Major: Roof — The roof appears to be in need of repair or replacement, as indicated by the snow accumulation and potential damage.
• Major: Exterior siding — The exterior siding is in poor condition and needs repair or replacement.
• Major: Flooring — The flooring in the kitchen and bathroom is outdated and in poor condition.
• Major: Windows — The windows appear to be in poor condition and need replacement.