659 Salmon River RD Rd · Peru, NY 12901

$160,000

4 bd · 2.5 ba · 2,052 sqft · Manufactured public records · 164 Days on market

Built 2004 0.90 ac lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.5/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch type home with 4 bedrooms, 2.5 baths located on a public road close to amenties www. auction.com Occupied: Do not disturb occupants. Trespassing is a criminal offense. Title and Liens: Most liens are removed after a foreclosure property sale, but certain liens may remain. A fully refundable deposit of $1,000 is required to register. Auction starts: Apr 27, 2026 8:00 AM - Apr 29, 2026 EDT

Key facts

• 0.9 acre lot
• Built 2004
• Listed 163 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.5% 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.

Location & tenants

• 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.
• Market conditions: 176 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $110k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.73%
• DSCR: 1.30
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-9,836
• Equity at exit: $23,857

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $12,391
• Equity at exit: $13,834

Cash invested: $44,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12901

• Home prices YoY: -22.5%
• Active inventory: 176
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,836 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$293 /mo · $3,518/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $251

Break-even live

Break-even rent $1,518

Max offer price $160,000

Occupancy floor 81%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $160,000 Active 164 DOM
2. 2026-06-18
   days on market $160,000 Active 163 DOM
3. 2026-06-17
   days on market $160,000 Active 162 DOM
4. 2026-06-16
   days on market $160,000 Active 161 DOM
5. 2026-06-15
   days on market $160,000 Active 160 DOM
6. 2026-06-14
   days on market $160,000 Active 158 DOM
7. 2026-06-13
   days on market $160,000 Active 157 DOM
8. 2026-06-10
   days on market $160,000 Active 155 DOM
9. 2026-06-09
   days on market $160,000 Active 154 DOM
10. 2026-06-08
    days on market $160,000 Active 153 DOM
11. 2026-06-07
    days on market $160,000 Active 152 DOM
12. 2026-06-03
    days on market $160,000 Active 148 DOM
13. 2026-06-02
    days on market $160,000 Active 147 DOM
14. 2026-06-01
    days on market $160,000 Active 146 DOM
15. 2026-05-31
    days on market $160,000 Active 145 DOM
16. 2026-05-30
    days on market $160,000 Active 144 DOM
17. 2026-04-06
    status Active 402-char remark

    Show marketing remark (402 chars)

    Ranch type home with 4 bedrooms, 2.5 baths located on a public road close to amenties www. auction.com Occupied: Do not disturb occupants. Trespassing is a criminal offense. Title and Liens: Most liens are removed after a foreclosure property sale, but certain liens may remain. A fully refundable deposit of $1,000 is required to register. Auction starts: Apr 27, 2026 8:00 AM - Apr 29, 2026 EDT

18. 2025-12-26
    historical 402-char remark

    Show marketing remark (402 chars)

    Ranch type home with 4 bedrooms, 2.5 baths located on a public road close to amenties www. auction.com Occupied: Do not disturb occupants. Trespassing is a criminal offense. Title and Liens: Most liens are removed after a foreclosure property sale, but certain liens may remain. A fully refundable deposit of $1,000 is required to register. Auction starts: Apr 27, 2026 8:00 AM - Apr 29, 2026 EDT

19. 2025-09-27
    listed $160,000 Active 402-char remark

    Show marketing remark (402 chars)

    Ranch type home with 4 bedrooms, 2.5 baths located on a public road close to amenties www. auction.com Occupied: Do not disturb occupants. Trespassing is a criminal offense. Title and Liens: Most liens are removed after a foreclosure property sale, but certain liens may remain. A fully refundable deposit of $1,000 is required to register. Auction starts: Apr 27, 2026 8:00 AM - Apr 29, 2026 EDT

20. 2004-09-28
    soldstatus $110,000
21. 2003-07-29
    soldstatus $16,500
22. 2003-07-29
    soldstatus $16,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,518 · $293/mo
• Projected year-2 tax: $3,518 · $293/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,029
• − Mortgage interest: −$8,962
• − Property taxes: −$3,518
• − Insurance: −$800
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$4,655
• Taxable income: $569
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $2,879/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Peru Central School District
• NCES district ID: 3622830
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 48% ▲ 4.00%
• Median HH income: $59,762
• Composite: 36.62/100
• National rank: #4621
• State rank: #483 of 590 in NY

Livability — Peru

• Score: 71/100
• State rank: #390
• US rank: #6741

Category grades

Amenities F Commute F Cost of living A- Crime A Employment B Housing A+ Health & safety D- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 32,012

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3% Asian 3%
• Common ancestry: Lithuanian 15% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.55%
• Current HPI: 252.8692
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+869.7% since first listed

6 events — show timeline

• 2026-04-06 Relisted — ACVMLS
• 2025-12-26 Delisted — ACVMLS
• 2025-09-27 Listed $160,000 ACVMLS
• 2004-09-28 Sold (Public Records) $110,000 Public Records
• 2003-07-29 Sold (Public Records) $16,500 Public Records
• 2003-07-29 Sold (Public Records) $16,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,518 · +5.1% YoY. Source: county tax records.