143 Gulf Rd

Preston-Potter Hollow, NY 12147

$139,000C+

3 bd · 1.0 ba · 1,365 sqft · Built 1885 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,509/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $165/mo
• Annual: $1,979/yr
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $38,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $139k. Condition is rated poor.
• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• It's been on market 15 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($961 loan paydown + $6k appreciation (4.2% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Middleburgh Central School District (rural): math 44% / reading 54% proficiency, ranked #409 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.3% vs local median 2.1% in Preston-Potter Hollow — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed beams in kitchen — Structural damage and safety hazard.
• Major: Exposed plumbing in bath — Risk of water damage and potential leaks.
• Major: Damaged shingles on roof — Leakage and potential structural issues.
• Major: Peeling siding — Structural integrity and weather resistance compromised.
• Major: Missing windows — Safety and security concerns.
• Major: Exposed subflooring in kitchen and living area — Structural damage and safety hazard.