35 Edelweiss Dr #87

Woodridge, NY 12789

$95,000B+

2 bd · 1.5 ba · 1,378 sqft · Built 1989 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,991/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$418
• Net cashflow: $917/mo
• Annual: $11,001/yr
• Cap rate: 17.87%
• Cash-on-cash: 41.36%
• DSCR: 2.84
• 1% rule: 2.10%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.5-bath single-family listed at $95k. Condition is rated poor.
• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• It's been on market 30 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#934 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+, cost of living B+; Watch: crime F, amenities F, commute F.
• Fallsburg Central School District (town): math 29% / reading 27% proficiency, ranked #583 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Benjamin Cosor Elementary School (math 8% / reading 22%, grade F, #2,024 of 2,108 statewide, top 97%, 810 students, 72% FRL); Fallsburg Junior Senior High School (math 52% / reading 32%, grade F, #1,046 of 1,100 statewide, top 96%, 684 students, 64% FRL).
• Market conditions: 26 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and damage
• Major: roof — Exposed structure
• Major: flooring — Exposed subflooring
• Major: interior walls — Exposed framing and debris
• Major: systems — No visible systems in good condition