2262 County Route 12

Central Square, NY 13036

$69,900B+

2 bd · 1.0 ba · 840 sqft · Built 1979 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,710/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $861/mo
• Annual: $10,337/yr
• Cap rate: 21.08%
• Cash-on-cash: 52.82%
• DSCR: 3.35
• 1% rule: 2.45%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#723 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: amenities F, commute F, health & safety D-.
• Central Square Central School District (suburban): math 40% / reading 40% proficiency, ranked #507 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Millard Hawk Elementary School (math 22% / reading 32%, grade F, #1,786 of 2,108 statewide, top 86%, 477 students, 52% FRL); Central Square Middle School (math 19% / reading 35%, grade F, #587 of 729 statewide, top 81%, 833 students, 45% FRL); Paul V Moore High School (math 91% / reading 75%, grade A, #440 of 1,100 statewide, top 40%, 1,101 students, 44% FRL).
• Market conditions: 36 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• Oswego County population projected at -23% 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 21.1% vs local median 3.9% in Central Square — 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

• Built in 1979 — 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.
• 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.