871 Peruville Rd

Groton, NY 13073

$149,500D-

3 bd · 2.0 ba · 1,216 sqft · Built 1998 · Manufactured · Pending · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,335/mo
• Mortgage (P&I): −$784
• Tax + insurance: −$249
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $21/mo
• Annual: $257/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• 1% rule: 0.89%
• Cash to close: $41,860

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated fair.
• At list price, monthly cash flow is $21 ($257/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (10.7% below list).
• It's been on market 41 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (10.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#418 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Groton Central School District (rural): math 53% / reading 46% proficiency, ranked #381 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Groton Elementary School (math 57% / reading 47%, grade C-, #988 of 2,108 statewide, top 49%, 380 students, 43% FRL); Groton Junior/Senior High School (math 52% / reading 47%, grade D, #974 of 1,100 statewide, top 91%, 402 students, 42% FRL).
• Market conditions: 36 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• Tompkins County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.5% vs local median 3.2% in Groton — 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

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 11% 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — The cabinets are outdated and in poor condition.
• Major: Kitchen countertops — The countertops are outdated and in poor condition.
• Major: Bathroom fixtures — The fixtures are outdated and in poor condition.
• Major: Bathroom wallpaper — The wallpaper is outdated and in poor condition.
• Major: Flooring — The flooring is carpeted and in poor condition.
• Major: Paint — The interior walls and ceilings have discoloration and need repainting.