2098 River St St

Lisle, NY 13797

$120,000D

1 bd · 1.0 ba · 3,368 sqft · Built 1822 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $987/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$367
• HOA: −$0
• Vac / Maint / Mgmt: −$207
• Net cashflow: $-216/mo
• Annual: $-2,590/yr
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• 1% rule: 0.82%
• Cash to close: $33,600

Investor read

• This is a 1-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-216 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (31.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (17.7% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $82k (31.8% below list) — sets the bar for cash-flow.
• In year one you build about $10k of equity ($830 loan paydown + $9k appreciation (7.6% local appreciation)).
• Location reads 57/100 on livability (#1,090 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities 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).
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Whitney Point Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.5% of price; flood insurance adds $66/mo; built in 1822 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 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.
• 4 sale attempts since 19y 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 $84k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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 1822 — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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 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?
• 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?