151 West Cotter Rd

Brasher Falls, NY 13613

$57,500B+

2 bd · 1.0 ba · 460 sqft · Built 1950 · SingleFamily · Active · 413 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $826/mo
• Mortgage (P&I): −$302
• Tax + insurance: −$268
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $83/mo
• Annual: $1,001/yr
• Cap rate: 10.65%
• Cash-on-cash: 15.55%
• DSCR: 1.69
• 1% rule: 1.44%
• Cash to close: $16,100

Investor read

• This is a 2-bed/1.0-bath single-family listed at $58k.
• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($826 rent vs $58k).
• It's been on market 413 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($398 loan paydown + $2k appreciation (4.2% local appreciation)).
• Location reads 61/100 on livability (#941 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety C-, employment D, crime F.
• Brasher Falls Central School District (rural): math 39% / reading 45% proficiency, ranked #499 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $125/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 413 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• 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.
• 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?
• Crime grade is F 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?
• 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.