105 Oak Hill Ave

Endicott, NY 13760

$59,999B

4 bd · 1.0 ba · 1,408 sqft · Built 1936 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,760/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$370
• Net cashflow: $846/mo
• Annual: $10,149/yr
• Cap rate: 23.21%
• Cash-on-cash: 60.41%
• DSCR: 3.69
• 1% rule: 2.93%
• Cash to close: $16,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• It's been on market 33 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#438 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Union-Endicott Central School District (suburban): math 43% / reading 57% proficiency, ranked #387 of 590 in NY (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George F Johnson Elementary School (math 35% / reading 47%, grade F, #1,410 of 2,108 statewide, top 67%, 596 students, 44% FRL); Jennie F Snapp Middle School (math 31% / reading 51%, grade F, #402 of 729 statewide, top 56%, 822 students, 65% FRL); Union-Endicott High School (math 91% / reading 90%, grade A+, #231 of 1,100 statewide, top 21%, 999 students, 41% FRL).
• Watch-outs: property tax is 4.1% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.1%/yr); 380 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 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.
• Current owner paid $35k; list at $60k implies a 74% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.2% vs local median 5.7% in Endicott — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 32% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1936 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Stucco siding — Visible cracks and discoloration
• Major: Exterior paint — Peeling and in need of replacement
• Major: Landscaping — Overgrown grass and weeds
• Major: Exterior doors — Worn and possibly in need of replacement