8 Caroline St

DeKalb Junction, NY 13630

$64,000A-

3 bd · 1.5 ba · 1,293 sqft · Built 1920 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,090/mo
• Mortgage (P&I): −$336
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $310/mo
• Annual: $3,717/yr
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• 1% rule: 1.70%
• Cash to close: $17,920

Investor read

• This is a 3-bed/1.5-bath single-family listed at $64k.
• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• It's been on market 16 days — a 2% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($442 loan paydown + $3k appreciation (4.5% local appreciation)).
• Location reads 50/100 on livability (#1,172 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime F.
• Hermon-Dekalb Central School District (rural): math 35% / reading 30% proficiency, ranked #709 of 755 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 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.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — 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.
• Schools are F-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.
• 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.