29 N Lyon St

Batavia, NY 14020

$139,100C+

3 bd · 1.5 ba · 1,360 sqft · Built 1910 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,478/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$236
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $202/mo
• Annual: $2,421/yr
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• 1% rule: 1.06%
• Cash to close: $38,948

Investor read

• This is a 3-bed/1.5-bath single-family listed at $139k.
• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $962 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#536 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime D+, amenities F.
• Batavia City School District (town): math 38% / reading 50% proficiency, ranked #477 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 89 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 55 units permitted in Genesee County in 2024 (0 in 5+ unit buildings).
• Genesee County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 8.0% vs local median 5.5% in Batavia — 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

• Built in 1910 — 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?
• Crime grade is D 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.