207 S Clinton St

Albion, NY 14411

$94,500D+

3 bd · 2.0 ba · 1,352 sqft · Built 1865 · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$496
• Tax + insurance: −$308
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-14/mo
• Annual: $-167/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• 1% rule: 1.06%
• Cash to close: $26,460

Investor read

• This is a 3-bed/2.0-bath single-family listed at $94k.
• At list price, monthly cash flow is $-14 ($-167/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (2.6% below list).
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 30 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (2.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,009 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D-, amenities F, commute F.
• Albion Central School District (town): math 37% / reading 50% proficiency, ranked #479 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ronald L Sodoma Elementary School (math 31% / reading 49%, grade F, #1,415 of 2,108 statewide, top 67%, 820 students, 57% FRL); Carl I Bergerson Middle School (math 19% / reading 44%, grade F, #522 of 729 statewide, top 73%, 403 students, 62% FRL); Charles D'Amico High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 514 students, 63% FRL) — zoned schools average 60% FRL vs 45% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.4% of price; built in 1865 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $48k; list at $94k implies a 95% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 4.1% in Albion — 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

• 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?
• Built in 1865 — 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.
• Crime grade is D 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.