259 Kingston Ave

Wurtsboro, NY 12790

$339,900D-

3 bd · 1.5 ba · 1,504 sqft · Built 1968 · SingleFamily · Pending · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,525/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$591
• HOA: −$0
• Vac / Maint / Mgmt: −$530
• Net cashflow: $-378/mo
• Annual: $-4,540/yr
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $95,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $340k.
• At list price, monthly cash flow is $-378 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (25.7% below list).
• It's been on market 128 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $252k (25.7% below list) — sets the bar for 1% rule.
• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#453 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• Monticello Central School District (town): math 29% / reading 30% proficiency, ranked #577 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Emma C Chase School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 228 students, 57% FRL); Robert J Kaiser Middle School (math 7% / reading 35%, grade F, #661 of 729 statewide, top 91%, 595 students, 66% FRL); Monticello High School (math 82% / reading 34%, grade C, #879 of 1,100 statewide, top 80%, 844 students, 63% FRL).
• Market conditions: 109 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 23y 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.
• Current owner paid $72k; list at $340k implies a 370% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$58k 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?
• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1968 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.