4901 Colonial Cir

Campbell, NY 14821

$37,500B

2 bd · 2.0 ba · 1,120 sqft · Built 2001 · Manufactured · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,033/mo
• Mortgage (P&I): −$197
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $557/mo
• Annual: $6,686/yr
• Cap rate: 24.12%
• Cash-on-cash: 63.68%
• DSCR: 3.83
• 1% rule: 2.76%
• Cash to close: $10,500

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $38k. Condition is rated fair.
• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 52 days — a 3% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($259 loan paydown + $2k appreciation (6.1% local appreciation)).
• Location reads 61/100 on livability (#917 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, schools B; Watch: employment D+, health & safety D, crime F.
• Campbell-Savona Central School District (rural): math 50% / reading 56% proficiency, ranked #334 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 17 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 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?
• 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?
• 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: Paint — Paint shows some wear and tear.
• Minor: Landscaping — Simple landscaping could be improved for curb appeal.