88 Brooklyn Rd

Brasher Falls, NY 12967

$124,500D-

2 bd · 1.0 ba · 916 sqft · Built 2018 · SingleFamily · Pending · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $931/mo
• Mortgage (P&I): −$653
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $-72/mo
• Annual: $-862/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• 1% rule: 0.75%
• Cash to close: $34,860

Investor read

• This is a 2-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $-72 ($-862/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (25.2% below list).
• It's been on market 66 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (25.2% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($861 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#941 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety C-, employment D, crime F.
• Brasher Falls Central School District (rural): math 39% / reading 45% proficiency, ranked #499 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k 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 66 days. Have you received any prior offers? Is the seller open to a 25% 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.
• 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?
• 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.