1704 County Route 44

Waddington, NY 13694

$169,000D-

3 bd · 2.0 ba · 1,728 sqft · Built 2016 · SingleFamily · Under Contract · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$385
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $-157/mo
• Annual: $-1,884/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.98%
• DSCR: 0.82
• 1% rule: 0.83%
• Cash to close: $47,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $169k.
• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (16.6% below list).
• It's been on market 29 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (16.6% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $120 appreciation (0.1% local appreciation)).
• Location reads 59/100 on livability (#1,011 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety C-, schools F.
• Madrid-Waddington Central School District (rural): math 50% / reading 56% proficiency, ranked #332 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• 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?
• 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?
• 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.
• 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.