20 Seager Ct

Campbell, NY 14821

$19,900C

2 bd · 1.0 ba · 840 sqft · Built 1977 · Manufactured · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $926/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$194
• Net cashflow: $594/mo
• Annual: $7,127/yr
• Cap rate: 42.11%
• Cash-on-cash: 127.91%
• DSCR: 6.69
• 1% rule: 4.65%
• Cash to close: $5,572

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $20k. Condition is rated good.
• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($926 rent vs $20k).
• It's been on market 28 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($138 loan paydown + $1k appreciation (6.1% local appreciation)).
• Location reads 61/100 on livability (#917 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, schools B; Watch: employment D+, health & safety D, crime F.
• Campbell-Savona Central School District (rural): math 50% / reading 56% proficiency, ranked #334 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1977 — 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?
• 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.
• 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.