76 North St

Le Roy, NY 14482

$64,000B

3 bd · 2.0 ba · 2,420 sqft · Built 1900 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,276/mo
• Mortgage (P&I): −$336
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $566/mo
• Annual: $6,789/yr
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• 1% rule: 1.99%
• Cash to close: $17,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $64k.
• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#467 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment D+, amenities F, commute F.
• Le Roy Central School District (town): math 56% / reading 59% proficiency, ranked #269 of 590 in NY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wolcott Street School (math 55% / reading 61%, grade C+, #833 of 2,108 statewide, top 40%, 609 students, 47% FRL); Le Roy Junior-Senior High School (math 58% / reading 57%, grade C, #884 of 1,100 statewide, top 80%, 543 students, 39% FRL) — zoned schools average 43% FRL vs 24% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 55 units permitted in Genesee County in 2024 (0 in 5+ unit buildings).
• Genesee County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $11k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — 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.