102 N Allen St

Jefferson Heights, NY 12414

$140,000B+

2 bd · 1.5 ba · 1,400 sqft · Built 1830 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,982/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$344
• HOA: −$0
• Vac / Maint / Mgmt: −$416
• Net cashflow: $488/mo
• Annual: $5,856/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.94%
• DSCR: 1.66
• 1% rule: 1.42%
• Cash to close: $39,200

Investor read

• This is a 2-bed/1.5-bath single-family listed at $140k.
• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#860 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, health & safety A, cost of living B; Watch: employment C-, schools F, amenities F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 104 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1830 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.