103 Doug Smith Road Rd

St. Regis Falls, NY 12930

$68,000B

1 bd · None ba · 480 sqft · Built 1994 · Other · Active · 372 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $827/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $197/mo
• Annual: $2,360/yr
• Cap rate: 9.76%
• Cash-on-cash: 12.39%
• DSCR: 1.55
• 1% rule: 1.22%
• Cash to close: $19,040

Investor read

• This is a 1-bed/?-bath other listed at $68k.
• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($827 rent vs $68k).
• It's been on market 372 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($470 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Saint Regis Falls Central School District (rural): math 35% / reading 35% proficiency, ranked #699 of 755 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $15k; list at $68k implies a 353% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 372 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.