348 Rainbow Shores Rd Unit T6

Pulaski, NY 13142

$59,999B+

1 bd · 1.0 ba · 756 sqft · Built 2025 · Manufactured · Active · 200 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $812/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $227/mo
• Annual: $2,720/yr
• Cap rate: 10.83%
• Cash-on-cash: 16.19%
• DSCR: 1.72
• 1% rule: 1.35%
• Cash to close: $16,800

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $60k. Condition is rated good.
• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($812 rent vs $60k).
• It's been on market 200 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($415 loan paydown + $5k appreciation (8.1% local appreciation)).
• Location reads 74/100 on livability (#302 in NY, #4,860 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D-, commute F.
• Sandy Creek Central School District (rural): math 44% / reading 52% proficiency, ranked #425 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sandy Creek Elementary School (math 52% / reading 52%, grade C-, #988 of 2,108 statewide, top 49%, 393 students, 49% FRL); Sandy Creek Middle School (math 22% / reading 37%, grade F, #550 of 729 statewide, top 77%, 186 students, 53% FRL); Sandy Creek High School (math 95% / reading 95%, grade A+, #83 of 1,100 statewide, top 8%, 213 students, 50% FRL).
• Market conditions: 65 active listings in the ZIP; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.8% vs local median 4.3% in Pulaski — 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 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.