334 Main St

Corinth, NY 12822

$149,900D

4 bd · 2.0 ba · 1,841 sqft · Built 1895 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,364/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$479
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $-187/mo
• Annual: $-2,244/yr
• Cap rate: 4.80%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• 1% rule: 0.91%
• Cash to close: $41,972

Investor read

• This is a 4-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (9.0% below list).
• It's been on market 27 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (22.0% below list) — sets the bar for cash-flow.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#514 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living B+; Watch: employment C-, amenities F, commute F.
• Corinth Central School District (town): math 38% / reading 53% proficiency, ranked #448 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth Elementary School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 410 students, 53% FRL); Corinth High School (math 92% / reading 87%, grade A+, #265 of 1,100 statewide, top 26%, 342 students, 42% FRL).
• Zoned-school proficiency averages 63% at this address vs 46% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Corinth Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 3.3% of price; built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.8% vs local median 3.2% in Corinth — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.