5 Walnut Dr

Oriskany, NY 13492

$149,000B-

3 bd · 1.0 ba · 1,196 sqft · Built 1950 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,851/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$353
• HOA: −$0
• Vac / Maint / Mgmt: −$389
• Net cashflow: $328/mo
• Annual: $3,935/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.43%
• DSCR: 1.42
• 1% rule: 1.24%
• Cash to close: $41,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 14 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 $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#516 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: employment C-, health & safety C-, amenities F.
• Whitesboro Central School District (suburban): math 68% / reading 61% proficiency, ranked #174 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 56 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $149k implies a 85% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1950 — 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 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?
• 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.