3247 County Route 57

Minetto, NY 13126

$194,849C

4 bd · 2.0 ba · 2,051 sqft · Built 1960 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,020/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$511
• HOA: −$0
• Vac / Maint / Mgmt: −$424
• Net cashflow: $63/mo
• Annual: $753/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• 1% rule: 1.04%
• Cash to close: $54,558

Investor read

• This is a 4-bed/2.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $63 ($753/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-2.2%/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 (#554 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: schools D+, amenities F, commute F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: Rents rising fast (+19.2%/yr); 168 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 13y 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.
• At projected returns (-2.2% appreciation + 8.0% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 6.7% vs local median 4.4% in Minetto — 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 37% of the median local income ($65k/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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.