2579 Daansen Rd

Palmyra, NY 14522

$149,900D-

3 bd · 1.0 ba · 1,226 sqft · Built 1978 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,549/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$581
• HOA: −$0
• Vac / Maint / Mgmt: −$325
• Net cashflow: $-143/mo
• Annual: $-1,711/yr
• Cap rate: 5.15%
• Cash-on-cash: -4.08%
• DSCR: 0.82
• 1% rule: 1.03%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (16.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $125k (16.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#381 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Palmyra-Macedon Central School District (town): math 41% / reading 51% proficiency, ranked #443 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palmyra-Macedon Primary School (440 students, 37% FRL); Palmyra-Macedon Middle School (math 27% / reading 41%, grade F, #497 of 729 statewide, top 69%, 367 students, 46% FRL); Palmyra-Macedon Senior High School (math 98% / reading 98%, grade A+, #19 of 1,100 statewide, top 4%, 605 students, 37% FRL).
• Zoned-school proficiency averages 66% at this address vs 46% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Palmyra-Macedon Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 4.1% of price.
• Market conditions: 37 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $130k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 1978 — 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.