14 SE Mountain Rd

Wingdale, NY 12594

$175,000D

3 bd · 1.0 ba · 1,092 sqft · Built 1920 · SingleFamily · Active · 408 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,354/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$385
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $-233/mo
• Annual: $-2,801/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.72%
• DSCR: 0.75
• 1% rule: 0.77%
• Cash to close: $49,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (22.6% below list).
• It's been on market 408 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (23.6% below list) — sets the bar for cash-flow.
• In year one you build about $957 of equity ($1k loan paydown + $-253 appreciation (-0.1% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Dover Union Free School District (rural): math 44% / reading 48% proficiency, ranked #433 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dover Elementary School (math 33% / reading 44%, grade F, #1,509 of 2,108 statewide, top 72%, 296 students, 71% FRL); Dover Middle School (math 32% / reading 47%, grade F, #418 of 729 statewide, top 59%, 301 students, 68% FRL); Dover High School (math 92% / reading 74%, grade A, #435 of 1,100 statewide, top 40%, 467 students, 59% FRL) — zoned schools average 66% FRL vs 38% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $24k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $132k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 408 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.
• 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.