1108 Macduffie Dr

Weston Mills, NY 14743

$109,350B

4 bd · 1.5 ba · 1,536 sqft · Built 1973 · SingleFamily · Pending · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,352/mo
• Mortgage (P&I): −$573
• Tax + insurance: −$312
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $183/mo
• Annual: $2,192/yr
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• 1% rule: 1.24%
• Cash to close: $30,618

Investor read

• This is a 4-bed/1.5-bath single-family listed at $109k.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• It's been on market 154 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($756 loan paydown + $9k appreciation (8.3% local appreciation)).
• Location reads 65/100 on livability (#667 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Hinsdale Central School District (town): math 60% / reading 59% proficiency, ranked #297 of 755 in NY (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.9% of price.
• Market conditions: 18 active listings in the ZIP; 128 units permitted in Cattaraugus County in 2024 (21 in 5+ unit buildings).
• Cattaraugus County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $41k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.3% vs local median 5.3% in Weston Mills — 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

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.