7434 Marvin Hill Rd

Springwater, NY 14560

$149,900B-

4 bd · 3.0 ba · 3,588 sqft · Built 1900 · MultiFamily · Pending · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,320/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$426
• HOA: −$0
• Vac / Maint / Mgmt: −$907
• Net cashflow: $2,201/mo
• Annual: $26,407/yr
• Cap rate: 23.91%
• Cash-on-cash: 62.92%
• DSCR: 3.80
• 1% rule: 2.88%
• Cash to close: $41,972

Investor read

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $150k.
• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $734/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• It's been on market 77 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wayland-Cohocton Central School District (rural): math 40% / reading 53% proficiency, ranked #446 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $111k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• 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.