7571 Church St

Lowville, NY 13367

$148,000C-

3 bd · 2.0 ba · 1,312 sqft · Built 1890 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,199/mo
• Mortgage (P&I): −$776
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-160/mo
• Annual: $-1,924/yr
• Cap rate: 4.99%
• Cash-on-cash: -4.64%
• DSCR: 0.79
• 1% rule: 0.81%
• Cash to close: $41,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $148k.
• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (19.0% below list).
• It's been on market 90 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (19.1% below list) — sets the bar for cash-flow.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#490 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-, crime B; Watch: health & safety D, amenities F, commute F.
• Lowville Academy & Central School District (town): math 51% / reading 54% proficiency, ranked #345 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lowville Elementary School (math 55% / reading 52%, grade C, #974 of 2,108 statewide, top 46%, 618 students, 50% FRL); Lowville Middle School (math 34% / reading 57%, grade D+, #337 of 729 statewide, top 47%, 297 students, 46% FRL); Lowville High School (math 98% / reading 30%, grade B-, #808 of 1,100 statewide, top 74%, 367 students, 44% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 110 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).
• Lewis County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $26k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.0% vs local median 3.5% in Lowville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 90 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-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?
• 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.