3917 State Hwy 56

Colton, NY 13687

$19,900C-

6 bd · 1.0 ba · 2,252 sqft · Built 1900 · SingleFamily · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,431/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $966/mo
• Annual: $11,595/yr
• Cap rate: 64.56%
• Cash-on-cash: 208.10%
• DSCR: 10.26
• 1% rule: 7.19%
• Cash to close: $5,572

Investor read

• This is a 6-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 75 days — a 6% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (6.0% below list) — sets the bar for market timing.
• In year one you build about $621 of equity ($138 loan paydown + $483 appreciation (2.4% local appreciation)).
• Location reads 67/100 on livability (#577 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime F, amenities F.
• Colton-Pierrepont Central School District (rural): math 60% / reading 50% proficiency, ranked #365 of 755 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 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.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $20k implies a 67% gain — meaningful room to come down on a strong offer.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• 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.