9 Edelweiss Dr

Woodridge, NY 12789

$199,000C-

2 bd · 1.5 ba · 1,164 sqft · Built 1987 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,896/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$535
• HOA: −$0
• Vac / Maint / Mgmt: −$398
• Net cashflow: $-81/mo
• Annual: $-968/yr
• Cap rate: 5.81%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• 1% rule: 0.95%
• Cash to close: $55,720

Investor read

• This is a 2-bed/1.5-bath single-family listed at $199k.
• At list price, monthly cash flow is $-81 ($-968/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (4.7% below list).
• It's been on market 38 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (7.2% below list) — sets the bar for cash-flow.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#934 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+, cost of living B+; Watch: crime F, amenities F, commute F.
• Fallsburg Central School District (town): math 29% / reading 27% proficiency, ranked #583 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Benjamin Cosor Elementary School (math 8% / reading 22%, grade F, #2,024 of 2,108 statewide, top 97%, 810 students, 72% FRL); Fallsburg Junior Senior High School (math 52% / reading 32%, grade F, #1,046 of 1,100 statewide, top 96%, 684 students, 64% FRL).
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 26 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $199k implies a 90% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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

• 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 38 days. Have you received any prior offers? Is the seller open to a 7% 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?
• 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.
• 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.