52 Pocket Hill Rd

Peru, NY 12901

$124,900B-

3 bd · 1.0 ba · 1,530 sqft · Built 1900 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,719/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $495/mo
• Annual: $5,937/yr
• Cap rate: 11.05%
• Cash-on-cash: 16.98%
• DSCR: 1.76
• 1% rule: 1.38%
• Cash to close: $34,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $125k. Condition is rated good.
• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• It's been on market 40 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#390 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: amenities F, commute F, health & safety D-.
• Peru Central School District (rural): math 35% / reading 48% proficiency, ranked #483 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peru Elementary School (math 23% / reading 46%, grade F, #1,577 of 2,108 statewide, top 77%, 866 students, 40% FRL); Peru Middle School (math 23% / reading 50%, grade F, #464 of 729 statewide, top 64%, 427 students, 42% FRL); Peru High School (math 92% / reading 70%, grade A, #495 of 1,100 statewide, top 46%, 567 students, 37% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 184 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% 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 (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 11.0% vs local median 2.4% in Peru — 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 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.