248 French Rd

Cold Brook, NY 13324

$115,900D-

1 bd · 1.0 ba · 670 sqft · Built 2004 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $815/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $-211/mo
• Annual: $-2,535/yr
• Cap rate: 4.11%
• Cash-on-cash: -7.81%
• DSCR: 0.65
• 1% rule: 0.70%
• Cash to close: $32,452

Investor read

• This is a 1-bed/1.0-bath single-family listed at $116k.
• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $79k (32.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $82k (29.6% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $79k (32.2% below list) — sets the bar for cash-flow.
• In year one you build about $8k of equity ($801 loan paydown + $7k appreciation (6.1% local appreciation)).
• Location reads 56/100 on livability (#1,123 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Poland Central School District (rural): math 63% / reading 58% proficiency, ranked #240 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 25 active listings in the ZIP; 55 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).
• Hamilton County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $6k; list at $116k implies a 1832% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$35k 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?
• 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?
• 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?
• 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.