658 Centerville Rd

Pulaski, NY 13142

$249,900F

1 bd · 1.0 ba · 912 sqft · Built 2012 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,081/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$375
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $-832/mo
• Annual: $-9,981/yr
• Cap rate: 2.30%
• Cash-on-cash: -14.26%
• DSCR: 0.37
• 1% rule: 0.43%
• Cash to close: $69,972

Investor read

• This is a 1-bed/1.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-832 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (58.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (56.7% below list).
• It's been on market 22 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (58.8% below list) — sets the bar for cash-flow.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (8.1% local appreciation)).
• Location reads 74/100 on livability (#302 in NY, #4,860 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D-, commute F.
• Pulaski Central School District (rural): math 44% / reading 58% proficiency, ranked #377 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 64 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 16y 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 $22k; list at $250k implies a 1062% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.3% vs local median 4.3% in Pulaski — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• 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.