8098 Mcgowan Rd

Copenhagen, NY 13626

$30,000C-

3 bd · 1.0 ba · 1,316 sqft · Built 1996 · Manufactured · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,364/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$286
• Net cashflow: $870/mo
• Annual: $10,439/yr
• Cap rate: 41.09%
• Cash-on-cash: 124.28%
• DSCR: 6.53
• 1% rule: 4.55%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $870 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 34 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $940 appreciation (3.1% local appreciation)).
• Location reads 61/100 on livability (#914 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Lowville Academy & Central School District (town): math 51% / reading 54% proficiency, ranked #345 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 17 active listings in the ZIP; 110 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).
• Lewis County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.
• 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.