12082 State Hwy 206

Walton, NY 13856

$299,000C-

3 bd · 2.5 ba · 1,696 sqft · Built 2007 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,822/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$593
• Net cashflow: $163/mo
• Annual: $1,954/yr
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $83,720

Investor read

• This is a 3-bed/2.5-bath single-family listed at $299k. Condition is rated good.
• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (5.6% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $282k (5.6% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (5.8% local appreciation)).
• Location reads 70/100 on livability (#443 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Walton Central School District (town): math 36% / reading 47% proficiency, ranked #510 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Townsend Elementary School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 367 students, 47% FRL); Walton Middle School (math 17% / reading 42%, grade F, #550 of 729 statewide, top 77%, 189 students, 54% FRL); Walton High School (math 84% / reading 90%, grade A, #308 of 1,100 statewide, top 28%, 283 students, 50% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 57 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 19y ago 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.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.
• 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

• 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?
• 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.