107 Pinewood Dr

Altona, NY 12910

$64,200A-

1 bd · 1.0 ba · 864 sqft · Built 2015 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $890/mo
• Mortgage (P&I): −$337
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $201/mo
• Annual: $2,416/yr
• Cap rate: 10.06%
• Cash-on-cash: 13.44%
• DSCR: 1.60
• 1% rule: 1.39%
• Cash to close: $17,976

Investor read

• This is a 1-bed/1.0-bath single-family listed at $64k.
• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($890 rent vs $64k).
• It's been on market 52 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($444 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 51/100 on livability (#1,166 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Northern Adirondack Central School District (rural): math 47% / reading 49% proficiency, ranked #430 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 14 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.