1899 County Highway 119

Salisbury Center, NY 13470

$144,900D

2 bd · 1.0 ba · 1,092 sqft · Built 1995 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$341
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-310/mo
• Annual: $-3,723/yr
• Cap rate: 3.72%
• Cash-on-cash: -9.18%
• DSCR: 0.59
• 1% rule: 0.69%
• Cash to close: $40,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $-310 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (31.0% below list).
• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (37.8% below list) — sets the bar for cash-flow.
• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Dolgeville Central School District (rural): math 30% / reading 47% proficiency, ranked #541 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dolgeville Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 426 students, 63% FRL); Dolgeville Middle School (math 12% / reading 37%); James A Green Junior-Senior High School (math 92% / reading 82%, grade A, #311 of 1,100 statewide, top 30%, 371 students, 63% FRL) — zoned schools average 63% FRL vs 47% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $40k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• 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.
• 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.