211 Spring Run

Clifton Springs, NY 14432

$49,900C+

2 bd · 2.0 ba · 1,056 sqft · Built 1984 · SingleFamily · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $441/mo
• Annual: $5,293/yr
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• 1% rule: 1.99%
• Cash to close: $13,972

Investor read

• This is a 2-bed/2.0-bath single-family listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $50k).
• It's been on market 50 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#261 in NY, #4,132 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D, amenities F.
• Phelps-Clifton Springs Central School District (rural): math 31% / reading 46% proficiency, ranked #526 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $50k implies a 104% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and potential leaks
• Major: siding — Weathered and peeling
• Major: landscaping — Overgrown and unkempt