150 Dubois Rd

Hammond, NY 13646

$450,000C-

9 bd · 3.9 ba · 4,320 sqft · Built 1988 · MultiFamily · Active · 202 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,893/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$575
• HOA: −$0
• Vac / Maint / Mgmt: −$818
• Net cashflow: $141/mo
• Annual: $1,689/yr
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• 1% rule: 0.87%
• Cash to close: $126,000

Investor read

• This is a 3 × 3-bed/?-bath units multifamily listed at $450k.
• At list price, monthly cash flow is $141 ($2k/yr) — positive. Per door: $47/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $389k (13.5% below list).
• It's been on market 202 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $389k (13.5% below list) — sets the bar for 1% rule.
• In year one you build about $31k of equity ($3k loan paydown + $28k appreciation (6.1% local appreciation)).
• Location reads 59/100 on livability (#1,028 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, health & safety D.
• Hammond Central School District (rural): math 50% / reading 45% proficiency, ranked #528 of 755 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.7% vs local median 2.4% in Hammond — 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

• It's been on market 202 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• Crime grade is F 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.