5716 Curriers Rd

Arcade, NY 14009

$199,900D

5 bd · 2.0 ba · 2,454 sqft · Built 1915 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,622/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$362
• HOA: −$0
• Vac / Maint / Mgmt: −$341
• Net cashflow: $-129/mo
• Annual: $-1,547/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.81%
• Cash to close: $55,972

Investor read

• This is a 5-bed/2.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-129 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (18.9% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $162k (18.9% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (5.7% local appreciation)).
• Location reads 64/100 on livability (#774 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: amenities F, commute F, employment D-.
• Yorkshire-Pioneer Central School District (town): math 50% / reading 54% proficiency, ranked #358 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Arcade Elementary School (math 52% / reading 57%, grade C, #908 of 2,108 statewide, top 46%, 515 students, 45% FRL); Pioneer Middle School (math 35% / reading 52%, grade D, #366 of 729 statewide, top 51%, 662 students, 52% FRL); Pioneer Senior High School (math 98% / reading 95%, grade A+, #59 of 1,100 statewide, top 6%, 658 students, 42% FRL).
• Zoned-school proficiency averages 65% at this address vs 52% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Yorkshire-Pioneer Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 83 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).
• Wyoming County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $70k; list at $200k implies a 186% gain — meaningful room to come down on a strong offer.
• By year 3, 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1915 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.