1019 County Road 7

Mc Donough, NY 13801

$129,900D+

3 bd · 1.0 ba · 1,020 sqft · Built 2019 · Manufactured · Active · 209 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,084/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-38/mo
• Annual: $-458/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• 1% rule: 0.83%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $-38 ($-458/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (16.6% below list).
• It's been on market 209 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (16.6% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cincinnatus Central School District (rural): math 52% / reading 62% proficiency, ranked #287 of 590 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cincinnatus Elementary School (math 74% / reading 84%, grade A, #188 of 2,108 statewide, top 11%, 210 students, 57% FRL); Cincinnatus Middle School (math 37% / reading 52%, grade D, #348 of 729 statewide, top 50%, 142 students, 68% FRL); Cincinnatus High School (math 74% / reading 74%, grade B+, #634 of 1,100 statewide, top 60%, 176 students, 56% FRL) — zoned schools average 60% FRL vs 42% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 209 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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.
• 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.