0 State Highway 8

Deposit, NY 13754

$140,000C-

2 bd · 1.0 ba · 1,200 sqft · Built 1972 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,281/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $44/mo
• Annual: $529/yr
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• 1% rule: 0.91%
• Cash to close: $39,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $140k. Condition is rated fair.
• At list price, monthly cash flow is $44 ($529/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (8.5% below list).
• It's been on market 40 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (8.5% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($968 loan paydown + $8k appreciation (5.9% local appreciation)).
• Location reads 67/100 on livability (#616 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Deposit Central School District (rural): math 58% / reading 49% proficiency, ranked #417 of 755 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deposit Elementary School (math 22% / reading 47%, grade F, #1,577 of 2,108 statewide, top 77%, 235 students, 55% FRL); Deposit Middle-Senior High School (math 42% / reading 47%, grade F, #1,032 of 1,100 statewide, top 95%, 236 students, 52% FRL).
• Zoned-school proficiency averages 40% at this address vs 54% district-wide (-14 pts) — the specific schools serving this property underperform the Deposit Central School District average; the district grade overstates school quality for this exact location.
• Market conditions: 31 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 13 sale attempts since 18y 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 $52k; list at $140k implies a 172% gain — meaningful room to come down on a strong offer.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.7% vs local median 3.8% in Deposit — 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 40 days. Have you received any prior offers? Is the seller open to a 9% 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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Siding — Weathered and peeling
• Major: Landscaping — Overgrown grass and unkempt appearance