306 Hasbrouck St

Ogdensburg, NY 13669

$37,900B+

4 bd · 2.0 ba · 880 sqft · Built 1900 · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,059/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $575/mo
• Annual: $6,899/yr
• Cap rate: 24.50%
• Cash-on-cash: 65.01%
• DSCR: 3.89
• 1% rule: 2.80%
• Cash to close: $10,612

Investor read

• This is a 4-bed/2.0-bath single-family listed at $38k. Condition is rated fair.
• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 110 days — a 9% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (9.0% below list) — sets the bar for market timing.
• In year one you build about $667 of equity ($262 loan paydown + $405 appreciation (1.1% local appreciation)).
• Location reads 66/100 on livability (#624 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Ogdensburg City School District (town): math 34% / reading 46% proficiency, ranked #531 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John F Kennedy School (math 22% / reading 45%, grade F, #1,632 of 2,108 statewide, top 78%, 462 students, 55% FRL); Ogdensburg Free Academy (math 48% / reading 42%, grade D-, #1,030 of 1,100 statewide, top 94%, 714 students, 58% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 165 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $17k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.5% vs local median 5.0% in Ogdensburg — 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 110 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Photos show no kitchen, but based on the condition of the rest of the home, it's likely in poor condition
• Major: Bathroom fixtures — Both bathrooms appear cluttered and in need of cleaning
• Major: Roof repair — The roof appears to be in need of repair based on the satellite image
• Major: Exterior siding repainting — Exterior siding appears weathered and in need of repainting
• Major: Flooring replacement — Hardwood flooring in the living room appears worn
• Major: Paint touch-up — Paint appears chipped and in need of touch-up