28 Locust Dr Unit LO28 · Hamlin, NY 14464

$105,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 205 Days on market

Built 2024 Good condition $79/sqft · 167% above area ↓ 12% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

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Key facts

• Built 2024
• Listed 205 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $106k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $93k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.1% in Hamlin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#557 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment C-, crime D, schools F.
• Brockport Central School District (town): math 45% / reading 55% proficiency, ranked #369 of 590 in NY (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 51 active listings in the ZIP; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $732 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y ago; this cycle's ask has dropped $23k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $93,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.65%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $39,668
• List price: $105,900
• Delta: 166.96%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 Locust Dr	0.24mi	3/2.0	1,252 (-7%)	8mo	$64,000	$51	71
5 Dogwood Dr	0.14mi	3/2.0	1,404 (+4%)	22mo	$69,000	$49	68
5 Oak Dr	0.11mi	3/2.0	1,216 (-10%)	20mo	$107,000	$88	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,196
• Equity at exit: $15,790

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $24,732
• Equity at exit: $9,156

Cash invested: $29,652 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14464

• Home prices YoY: -15.0%
• Active inventory: 51
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$555
• Tax est. 1.5%: −$132 /mo · $1,588/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $288

Break-even live

Break-even rent $926

Max offer price $105,900

Occupancy floor 73%

Sensitivity live

Price	-10% $361	-5% $324	+0% $288	+5% $251	+10% $215
Rent	-10% $186	-5% $237	+0% $288	+5% $339	+10% $390
Rate	-1.0pp $341	-0.5pp $315	base $288	+0.5pp $260	+1.0pp $233

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $26,475
• Closing costs: $3,177
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $105,900 Active 205 DOM
2. 2026-06-17
   days on market $105,900 Active 204 DOM
3. 2026-06-16
   days on market $105,900 Active 203 DOM
4. 2026-06-15
   days on market $105,900 Active 202 DOM
5. 2026-06-13
   days on market $105,900 Active 200 DOM
6. 2026-06-13
   days on market $105,900 Active 199 DOM
7. 2026-06-10
   days on market $105,900 Active 197 DOM
8. 2026-06-09
   days on market $105,900 Active 196 DOM
9. 2026-06-08
   days on market $105,900 Active 195 DOM
10. 2026-06-07
    pricedays on market $105,900 Active 194 DOM
11. 2026-06-03
    days on market $113,900 Active 190 DOM
12. 2026-06-03
    days on market $113,900 Active 189 DOM
13. 2026-06-01
    days on market $113,900 Active 188 DOM
14. 2026-05-31
    days on market $113,900 Active 187 DOM
15. 2026-04-17
    status Active 31-char remark

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16. 2026-04-17
    price $113,900 31-char remark

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17. 2025-11-08
    historical 31-char remark

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18. 2025-11-03
    status Active 31-char remark

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19. 2025-11-03
    price $128,900 31-char remark

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20. 2025-09-10
    historical 31-char remark

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21. 2025-08-01
    status Active 31-char remark

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22. 2025-08-01
    historical 31-char remark

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23. 2025-06-30
    status Active 31-char remark

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24. 2025-06-29
    historical 31-char remark

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25. 2025-06-19
    status Active 31-char remark

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26. 2025-06-19
    historical 31-char remark

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27. 2025-05-14
    status Active 31-char remark

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28. 2025-05-13
    historical 31-char remark

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29. 2025-05-02
    status Active 31-char remark

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30. 2025-01-11
    historical 31-char remark

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31. 2025-01-08
    status Active 31-char remark

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32. 2025-01-08
    historical 31-char remark

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33. 2024-12-31
    listed $129,000 Active 31-char remark

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ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,490
• − Mortgage interest: −$5,932
• − Property taxes: −$1,588
• − Insurance: −$530
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$3,081
• Taxable income: $1,881
• Est. tax owed @ 24.0%: −$451
• After-tax cash flow: $3,003/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This mobile home is in good condition with a fresh exterior and well-maintained interior. Minor updates such as painting and landscaping can significantly enhance its value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and the home's overall appearance.
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters.
• Both Interior touch-ups — Fresh paint and minor touch-ups can improve the home's interior and make it more appealing to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and the home's overall appearance. ↑
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both Interior touch-ups — Fresh paint and minor touch-ups can improve the home's interior and make it more appealing to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Brockport Central School District
• NCES district ID: 3605580
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $55,571
• Composite: 43.28/100
• National rank: #3044
• State rank: #369 of 590 in NY

Livability — Hamlin

• Score: 68/100
• State rank: #557
• US rank: #10030

Category grades

Amenities F Commute D- Cost of living A Crime D Employment C- Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamlin, NY
• Population (ZIP): 6,725

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 759,460 people
• By 2030: 757,154 · -0.3%
• By 2040: 740,644 · -2.5%
• By 2050: 714,443 · -5.9%
• By 2075: 645,883 · -15.0%
• By 2100: 547,084 · -28.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Black 2%
• Common ancestry: Romanian 7% Slovak 4% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: D (+19.1) · D 59.5% · R 40.5%
• 2008→2024 swing: +1.4pp toward D · 2008: 17.7pp · 2024: 19.1pp
• All cycles: 2024: D+19.1 2020: D+21.0 2016: D+14.1 2012: D+17.4 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.89%
• Current HPI: 248.1985
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-11.7% since first listed

19 events — show timeline

• 2026-04-17 Relisted — Zillow
• 2026-04-17 Price Changed $113,900 Zillow
• 2025-11-08 Delisted — Zillow
• 2025-11-03 Relisted — Zillow
• 2025-11-03 Price Changed $128,900 Zillow
• 2025-09-10 Delisted — Zillow
• 2025-08-01 Relisted — Zillow
• 2025-08-01 Delisted — Zillow
• 2025-06-30 Relisted — Zillow
• 2025-06-29 Delisted — Zillow
• 2025-06-19 Relisted — Zillow
• 2025-06-19 Delisted — Zillow
• 2025-05-14 Relisted — Zillow
• 2025-05-13 Delisted — Zillow
• 2025-05-02 Relisted — Zillow
• 2025-01-11 Delisted — Zillow
• 2025-01-08 Relisted — Zillow
• 2025-01-08 Delisted — Zillow
• 2024-12-31 Listed $129,000 Zillow