858 W Genesee Rd

Jordan, NY 13027

$75,000B

3 bd · 1.0 ba · 1,256 sqft · Built 1900 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,117/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $1,071/mo
• Annual: $12,855/yr
• Cap rate: 23.43%
• Cash-on-cash: 61.21%
• DSCR: 3.72
• 1% rule: 2.82%
• Cash to close: $21,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#581 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Baldwinsville Central School District (suburban): math 47% / reading 53% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 2.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 222 active listings in the ZIP; solid renter incomes; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.4% vs local median 1.1% in Jordan — 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

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.