6 Redwood

Albion, NY 14411

$72,500B

3 bd · 2.0 ba · 1,216 sqft · Built 1999 · Manufactured · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$380
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $341/mo
• Annual: $4,089/yr
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• 1% rule: 1.47%
• Cash to close: $20,300

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $72k. Condition is rated good.
• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• It's been on market 49 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,009 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools C-, crime D-, amenities F.
• Albion Central School District (town): math 37% / reading 50% proficiency, ranked #479 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.9% vs local median 4.2% in Albion — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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.