103 Resseguie Dr

Seneca Knolls, NY 13209

$164,900C

3 bd · 1.0 ba · 925 sqft · Built 1960 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,759/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$378
• HOA: −$0
• Vac / Maint / Mgmt: −$369
• Net cashflow: $147/mo
• Annual: $1,761/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• 1% rule: 1.07%
• Cash to close: $46,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#918 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment D, amenities F, commute F.
• 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.
• Zoned schools: Catherine M Mcnamara Elementary School (math 41% / reading 52%, grade D-, #1,262 of 2,108 statewide, top 60%, 528 students, 26% FRL); Donald S Ray School (math 32% / reading 51%, grade F, #394 of 729 statewide, top 55%, 846 students, 31% FRL); Charles W Baker High School (math 97% / reading 70%, grade A, #435 of 1,100 statewide, top 40%, 1,281 students, 28% FRL).
• Market conditions: 59 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Current owner paid $50k; list at $165k implies a 230% gain — meaningful room to come down on a strong offer.
• Cap rate 7.4% vs local median 2.3% in Seneca Knolls — 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.
• This rent runs 31% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.