128 Debbie Dr

Athens, NY 12015

$261,250C+

4 bd · 2.5 ba · 2,184 sqft · Built 1990 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,250/mo
• Mortgage (P&I): −$1,370
• Tax + insurance: −$890
• HOA: −$0
• Vac / Maint / Mgmt: −$682
• Net cashflow: $307/mo
• Annual: $3,686/yr
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• 1% rule: 1.24%
• Cash to close: $73,150

Investor read

• This is a 4-bed/2.5-bath single-family listed at $261k.
• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $261k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (5.9% local appreciation)).
• Location reads 63/100 on livability (#785 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Coxsackie-Athens Central School District (town): math 43% / reading 56% proficiency, ranked #384 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edward J Arthur Elementary School (math 44% / reading 64%, grade C, #908 of 2,108 statewide, top 46%, 184 students, 40% FRL); Coxsackie-Athens Middle School (math 22% / reading 46%, grade F, #497 of 729 statewide, top 69%, 364 students, 41% FRL); Coxsackie-Athens High School (math 87% / reading 82%, grade A, #379 of 1,100 statewide, top 36%, 365 students, 0% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: property tax is 3.6% of price.
• Market conditions: 91 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.
• 3 sale attempts; this cycle's ask has dropped $28k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.