6727 State Route 14

Sodus Point, NY 14555

$125,000C-

2 bd · 1.0 ba · 975 sqft · Built 1951 · SingleFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,047/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$221
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $-50/mo
• Annual: $-594/yr
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• 1% rule: 0.84%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $-50 ($-594/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (16.2% below list).
• It's been on market 39 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (16.2% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#845 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A; Watch: crime D, amenities F, commute F.
• Sodus Central School District (rural): math 45% / reading 45% proficiency, ranked #462 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sodus Elementary School (math 47% / reading 47%, grade D-, #1,195 of 2,108 statewide, top 60%, 354 students, 66% FRL); Sodus Intermediate School (math 42% / reading 35%, grade F, #437 of 729 statewide, top 60%, 231 students, 75% FRL); Sodus Jr/Sr High School (math 52% / reading 57%, grade C-, #912 of 1,100 statewide, top 85%, 445 students, 68% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k 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 39 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1951 — 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.
• Schools are D-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 D 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.