2439 State Route 11

Whitney Point, NY 13862

$114,900C

3 bd · 2.0 ba · 1,120 sqft · Built 1991 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,110/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $83/mo
• Annual: $990/yr
• Cap rate: 7.15%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• 1% rule: 0.97%
• Cash to close: $32,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $83 ($990/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 $111k (3.4% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $111k (3.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($794 loan paydown + $10k appreciation (9.0% local appreciation)).
• Location reads 62/100 on livability (#879 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F, commute F.
• Whitney Point Central School District (rural): math 47% / reading 52% proficiency, ranked #390 of 590 in NY (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caryl E Adams Primary School (math 67% / reading 62%, grade B, #591 of 2,108 statewide, top 31%, 463 students, 54% FRL); Tioughnioga Riverside Academy (math 33% / reading 49%, grade F, #402 of 729 statewide, top 56%, 516 students, 54% FRL); Whitney Point Senior High School (math 92%, 402 students, 56% FRL).
• Market conditions: 14 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 — Significant wear and tear.
• Major: Landscaping — Overgrown and unkempt, detracting from curb appeal.
• Major: Flooring — Worn and outdated carpet in multiple rooms.
• Major: Paint — Worn and outdated paint in multiple rooms.
• Major: Bathroom Fixtures — Outdated and possibly inefficient fixtures.
• Major: HVAC/Systems — Outdated and possibly inefficient systems.