4967 NE Townline Rd

Fairmount, NY 13108

$175,000D

4 bd · 1.5 ba · 1,488 sqft · Built 1960 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,654/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $-162/mo
• Annual: $-1,949/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.98%
• DSCR: 0.82
• 1% rule: 0.95%
• Cash to close: $49,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $175k.
• At list price, monthly cash flow is $-162 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (5.5% below list).
• It's been on market 40 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (16.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#366 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: crime D, amenities F, commute F.
• Marcellus Central School District (rural): math 53% / reading 61% proficiency, ranked #249 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: K C Heffernan Elementary School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 420 students, 17% FRL); C S Driver Middle School (math 38% / reading 59%, grade C-, #300 of 729 statewide, top 41%, 521 students, 23% FRL); Marcellus High School (math 92% / reading 24%, grade C, #879 of 1,100 statewide, top 80%, 466 students, 20% FRL).
• Watch-outs: property tax is 3.3% of price.
• Market conditions: 22 active listings in the ZIP; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $82k; list at $175k implies a 112% gain — meaningful room to come down on a strong offer.
• Cap rate 5.2% vs local median 4.1% in Fairmount — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 40 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.