35 Monroe St

St. Johnsville, NY 13452

$48,500B+

3 bd · 2.0 ba · 2,128 sqft · Built 1880 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,376/mo
• Mortgage (P&I): −$254
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $752/mo
• Annual: $9,020/yr
• Cap rate: 24.89%
• Cash-on-cash: 66.42%
• DSCR: 3.96
• 1% rule: 2.84%
• Cash to close: $13,580

Investor read

• This is a 3-bed/2.0-bath single-family listed at $48k.
• At list price, monthly cash flow is $752 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• It's been on market 66 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($335 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Oppenheim-Ephratah-St. Johnsville CSD (rural): math 30% / reading 52% proficiency, ranked #522 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oppenheim-Ephratah-St Johnsville Elementary School (math 27% / reading 57%, 391 students, 54% FRL); Oppenheim-Ephratah-St Johnsville Junior/Senior High School (math 32% / reading 47%, grade F, #1,060 of 1,100 statewide, top 97%, 361 students, 49% FRL) — zoned schools at 52% FRL track the district average.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $6k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — 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

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.