13365 Old Rt 31 E

Savannah, NY 13146

$49,900B

3 bd · 1.0 ba · 840 sqft · Built 1984 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,116/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $537/mo
• Annual: $6,439/yr
• Cap rate: 19.20%
• Cash-on-cash: 46.08%
• DSCR: 3.05
• 1% rule: 2.24%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k. Condition is rated poor.
• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 28 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($345 loan paydown + $3k appreciation (6.3% local appreciation)).
• Location reads 56/100 on livability (#1,104 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Clyde-Savannah Central School District (rural): math 18% / reading 30% proficiency, ranked #587 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Clyde-Savannah Elementary School (math 12% / reading 22%, grade F, #2,011 of 2,108 statewide, top 96%, 428 students, 55% FRL); Clyde-Savannah Junior High School (math 2% / reading 22%, grade F, #715 of 729 statewide, top 98%, 188 students, 55% FRL); Clyde-Savannah High School (math 84% / reading 74%, grade A-, #518 of 1,100 statewide, top 51%, 155 students, 46% FRL).
• Zoned-school proficiency averages 36% at this address vs 24% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Clyde-Savannah Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 5 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 (6.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: vegetation removal — Significant overgrowth requires extensive removal
• Major: landscaping — Overgrown vegetation and unkempt lawn need attention
• Major: paint — The exterior suggests a need for fresh paint