3260 Tuscarora Rd

Morrisville, NY 13061

$299,900D-

3 bd · 2.5 ba · 2,704 sqft · Built 2020 · SingleFamily · Pending · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,377/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $-984/mo
• Annual: $-11,814/yr
• Cap rate: 2.35%
• Cash-on-cash: -14.07%
• DSCR: 0.37
• 1% rule: 0.46%
• Cash to close: $83,972

Investor read

• This is a 3-bed/2.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $-984 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (54.1% below list).
• It's been on market 106 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (54.1% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (5.7% local appreciation)).
• Location reads 74/100 on livability (#291 in NY, #4,741 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, amenities F, commute F.
• Cazenovia Central School District (town): math 59% / reading 66% proficiency, ranked #187 of 590 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 9 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$31k 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 106 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.