1046 County Rd 32

Greene, NY 13778

$170,000D

3 bd · 1.0 ba · 1,092 sqft · Built 1970 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,274/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$371
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-256/mo
• Annual: $-3,075/yr
• Cap rate: 4.48%
• Cash-on-cash: -6.46%
• DSCR: 0.71
• 1% rule: 0.75%
• Cash to close: $47,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (26.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (25.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $125k (26.6% below list) — sets the bar for cash-flow.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#407 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, health & safety D, amenities F.
• Greene Central School District (rural): math 56% / reading 58% proficiency, ranked #282 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greene Primary School (234 students, 45% FRL).
• Market conditions: 19 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$46k 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?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.