9 Church St

Lyon Mountain, NY 12934

$100,000B

3 bd · 1.0 ba · 1,350 sqft · Built 1870 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,260/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $280/mo
• Annual: $3,359/yr
• Cap rate: 9.65%
• Cash-on-cash: 12.00%
• DSCR: 1.53
• 1% rule: 1.26%
• Cash to close: $28,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($691 loan paydown + $7k appreciation (6.7% local appreciation)).
• Location reads 49/100 on livability (#1,174 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living B; Watch: health & safety C-, amenities F, commute F.
• Northern Adirondack Central School District (rural): math 47% / reading 49% proficiency, ranked #430 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Adirondack Elementary School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 387 students, 52% FRL); Northern Adirondack Middle/High School (math 57% / reading 52%, grade C-, #912 of 1,100 statewide, top 85%, 417 students, 53% FRL).
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $20k; list at $100k implies a 400% gain — meaningful room to come down on a strong offer.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1870 — 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.
• 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?
• 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.