102 Longvue Ln

Northville, NY 12134

$450,000D

3 bd · 2.0 ba · 1,456 sqft · Built 2008 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,160/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$745
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $-1,398/mo
• Annual: $-16,781/yr
• Cap rate: 2.56%
• Cash-on-cash: -13.32%
• DSCR: 0.41
• 1% rule: 0.48%
• Cash to close: $126,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $450k.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (54.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (52.0% below list).
• It's been on market 34 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (54.9% below list) — sets the bar for cash-flow.
• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#759 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Northville Central School District (rural): math 51% / reading 45% proficiency, ranked #500 of 755 in NY (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northville Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 175 students, 55% FRL); Northville High School (math 37% / reading 42%, grade F, #1,060 of 1,100 statewide, top 97%, 256 students, 44% FRL).
• Market conditions: 50 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 11y 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 $33k; list at $450k implies a 1264% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$77k 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 34 days. Have you received any prior offers? Is the seller open to a 55% 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.