6 Mapledale Acres

Barneveld, NY 13301

$102,500B-

3 bd · 2.0 ba · 1,250 sqft · Built 1997 · Manufactured · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,265/mo
• Mortgage (P&I): −$538
• Tax + insurance: −$171
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $291/mo
• Annual: $3,496/yr
• Cap rate: 9.70%
• Cash-on-cash: 12.18%
• DSCR: 1.54
• 1% rule: 1.23%
• Cash to close: $28,700

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $102k. Condition is rated fair.
• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• It's been on market 66 days — a 6% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($709 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 63/100 on livability (#811 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-; Watch: health & safety C-, schools D+, crime F.
• Holland Patent Central School District (rural): math 44% / reading 63% proficiency, ranked #303 of 590 in NY (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% 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 $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and potential rust
• Moderate: exterior siding — Some discoloration