79 Sodom Rd

Salt Point, NY 12580

$127,200B-

2 bd · 1.0 ba · 758 sqft · Built 1945 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,062/mo
• Mortgage (P&I): −$667
• Tax + insurance: −$390
• HOA: −$0
• Vac / Maint / Mgmt: −$433
• Net cashflow: $572/mo
• Annual: $6,860/yr
• Cap rate: 11.69%
• Cash-on-cash: 19.26%
• DSCR: 1.86
• 1% rule: 1.62%
• Cash to close: $35,616

Investor read

• This is a 2-bed/1.0-bath single-family listed at $127k.
• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $127k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $879 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 34/100 on livability (#1,193 in NY) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: crime A; Watch: schools F, amenities F, commute F.
• Hyde Park Central School District (rural): math 43% / reading 62% proficiency, ranked #316 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.2% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.7% vs local median 2.3% in Salt Point — 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

• Built in 1945 — 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?
• 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.