5906 County Road 11

Odessa, NY 14805

$112,000B

3 bd · 1.0 ba · 2,192 sqft · Built 1870 · SingleFamily · Pending · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,463/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $371/mo
• Annual: $4,454/yr
• Cap rate: 10.27%
• Cash-on-cash: 14.20%
• DSCR: 1.63
• 1% rule: 1.31%
• Cash to close: $31,360

Investor read

• This is a 3-bed/1.0-bath single-family listed at $112k.
• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 61 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($774 loan paydown + $2k appreciation (1.8% local appreciation)).
• Location reads 67/100 on livability (#602 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: health & safety D, crime F, amenities F.
• Odessa-Montour Central School District (rural): math 41% / reading 60% proficiency, ranked #383 of 590 in NY (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $20k; list at $112k implies a 460% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1870 — 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.