9 Oakside Dr

St. John Fisher College, NY 14625

$79,900B-

3 bd · 2.0 ba · 1,056 sqft · Built 1983 · Manufactured · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,190/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $1,178/mo
• Annual: $14,138/yr
• Cap rate: 23.99%
• Cash-on-cash: 63.19%
• DSCR: 3.81
• 1% rule: 2.74%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Penfield Central School District (suburban): math 77% / reading 79% proficiency, ranked #67 of 590 in NY (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Indian Landing Elementary School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 542 students, 22% FRL); Bay Trail Middle School (math 59% / reading 78%, grade A, #94 of 729 statewide, top 13%, 1,113 students, 23% FRL); Penfield Senior High School (math 98% / reading 72%, grade A, #369 of 1,100 statewide, top 34%, 1,424 students, 25% FRL).
• Market conditions: 63 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.0% vs local median 16.6% in St. John Fisher College — 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

• 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.
• 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: Exterior siding — Light discoloration on the siding.
• Minor: Landscaping — Some snow and bare bushes present, indicating winter conditions.