20 Oak St

Wurtsboro, NY 12790

$65,000B+

2 bd · 1.0 ba · 1,184 sqft · Built 2003 · Manufactured · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,115/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$840
• Vac / Maint / Mgmt: −$444
• Net cashflow: $382/mo
• Annual: $4,583/yr
• Cap rate: 13.34%
• Cash-on-cash: 25.18%
• DSCR: 2.12
• 1% rule: 3.25%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $65k. Condition is rated average.
• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 81 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#453 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools F, amenities F, commute F.
• Monticello Central School District (town): math 29% / reading 30% proficiency, ranked #577 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: HOA is 40% of rent.
• Market conditions: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom fixtures — standard, could be updated