62 Liftside Dr Unit 238 E Week 4

Hunter, NY 12442

$22,000C-

1 bd · 1.0 ba · 947 sqft · Built 2005 · SingleFamily · Active · 406 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $953/mo
• Mortgage (P&I): −$115
• Tax + insurance: −$37
• HOA: −$482
• Vac / Maint / Mgmt: −$200
• Net cashflow: $119/mo
• Annual: $1,428/yr
• Cap rate: 12.78%
• Cash-on-cash: 23.18%
• DSCR: 2.03
• 1% rule: 4.33%
• Cash to close: $6,160

Investor read

• This is a 1-bed/1.0-bath single-family listed at $22k. Condition is rated fair.
• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $22k).
• It's been on market 406 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#971 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: housing D+, crime F, amenities F.
• Hunter-Tannersville Central School District (rural): math 55% / reading 50% proficiency, ranked #425 of 755 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 51% of rent.
• Market conditions: 114 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.8% vs local median 1.6% in Hunter — 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 406 days. Have you received any prior offers? Is the seller open to a 12% 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Living room furniture — Furniture appears slightly worn.
• Minor: Bedroom furniture — Furniture appears slightly worn.
• Minor: Kitchen appliances — Appliances appear slightly worn.
• Minor: Bathroom fixtures — Fixtures appear slightly worn.