107 Peaceful Falls Rd

Wells, NY 12134

$229,000C

4 bd · 2.0 ba · 2,220 sqft · Built 1999 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,107/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$303
• HOA: −$0
• Vac / Maint / Mgmt: −$442
• Net cashflow: $160/mo
• Annual: $1,926/yr
• Cap rate: 7.13%
• Cash-on-cash: 3.00%
• DSCR: 1.13
• 1% rule: 0.92%
• Cash to close: $64,120

Investor read

• This is a 4-bed/2.0-bath single-family listed at $229k.
• At list price, monthly cash flow is $160 ($2k/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 $211k (8.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $211k (8.0% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#921 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: health & safety C-, crime F, amenities F.
• Wells Central School District (rural): math 55% / reading 55% proficiency, ranked #369 of 755 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 51 active listings in the ZIP; 55 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).
• Hamilton County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y 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 $105k; list at $229k implies a 118% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.