141 Jones Rd

Round Top, NY 12473

$260,000F

4 bd · 3.0 ba · 2,240 sqft · Built 2002 · Manufactured · Active · 354 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,690/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$0
• Vac / Maint / Mgmt: −$355
• Net cashflow: $-462/mo
• Annual: $-5,544/yr
• Cap rate: 4.16%
• Cash-on-cash: -7.62%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $72,800

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $260k.
• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (25.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (35.0% below list).
• It's been on market 354 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $169k (35.0% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.8% local appreciation)).
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Cairo-Durham Central School District (rural): math 41% / reading 48% proficiency, ranked #470 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cairo-Durham Elementary School (math 27% / reading 42%, grade F, #1,577 of 2,108 statewide, top 77%, 439 students, 60% FRL); Cairo-Durham Middle School (math 27% / reading 47%, grade F, #448 of 729 statewide, top 63%, 256 students, 62% FRL); Cairo-Durham High School (math 92% / reading 90%, grade A+, #203 of 1,100 statewide, top 20%, 325 students, 59% FRL) — zoned schools average 60% FRL vs 40% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 11 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $55k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 4, paydown + projected appreciation supports a ~$39k 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 354 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• 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.
• 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.