165 Lattintown Rd #60

Marlboro, NY 12550

$94,000C

2 bd · 1.0 ba · 924 sqft · Built 1980 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,075/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$223
• HOA: −$965
• Vac / Maint / Mgmt: −$436
• Net cashflow: $-42/mo
• Annual: $-500/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• 1% rule: 2.21%
• Cash to close: $26,320

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $94k. Condition is rated good.
• At list price, monthly cash flow is $-42 ($-500/yr) — negative.
• To cash-flow at today's rent, offer at most $88k (6.4% below list).
• Meets the 1% rule at list price ($2k rent vs $94k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $88k (6.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#347 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living D+, amenities F, commute D-.
• Marlboro Central School District (suburban): math 43% / reading 55% proficiency, ranked #366 of 590 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; HOA is 47% of rent.
• Market conditions: Rents flat; 383 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.0% in Marlboro — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.