3737 Weaver Hollow Rd

Andes, NY 13731

$229,000D

1 bd · 1.0 ba · 672 sqft · Built 1970 · Manufactured · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,955/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$448
• HOA: −$0
• Vac / Maint / Mgmt: −$411
• Net cashflow: $-104/mo
• Annual: $-1,253/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $64,120

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $229k. Condition is rated poor.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.6% below list).
• It's been on market 86 days — a 6% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $196k (14.6% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (6.6% local appreciation)).
• Location reads 57/100 on livability (#1,096 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: schools D+, crime D+, employment D.
• Margaretville Central School District (rural): math 30% / reading 25% proficiency, ranked #734 of 755 in NY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 41 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.1% in Andes — 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

• 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 86 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?

Repairs flagged (vision-AI assessment)

• Major: kitchen — No photos of kitchen
• Major: bath — No photos of bath
• Major: roof — No photos of roof
• Major: exterior — No photos of exterior
• Major: flooring — No photos of flooring
• Major: interior walls/paint — No photos of interior walls/paint