1706 State Highway 30

Mayfield, NY 12117

$59,500B+

2 bd · 1.0 ba · 848 sqft · Built 1967 · Manufactured · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $912/mo
• Mortgage (P&I): −$312
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $340/mo
• Annual: $4,083/yr
• Cap rate: 13.15%
• Cash-on-cash: 24.51%
• DSCR: 2.09
• 1% rule: 1.53%
• Cash to close: $16,660

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $60k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($411 loan paydown + $5k appreciation (8.6% local appreciation)).
• Location reads 66/100 on livability (#634 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, cost of living A-; Watch: crime F, amenities F, commute F.
• Mayfield Central School District (town): math 42% / reading 56% proficiency, ranked #400 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $10k; list at $60k implies a 495% gain — meaningful room to come down on a strong offer.
• At projected returns (8.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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

• Built in 1967 — 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.
• 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.
• 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.