13 Green St

Cuba, NY 14727

$132,425D+

3 bd · 1.0 ba · 1,614 sqft · Built 1900 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,186/mo
• Mortgage (P&I): −$694
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $-24/mo
• Annual: $-287/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• 1% rule: 0.90%
• Cash to close: $37,079

Investor read

• This is a 3-bed/1.0-bath single-family listed at $132k.
• At list price, monthly cash flow is $-24 ($-287/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (10.5% below list).
• It's been on market 36 days — a 3% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (10.5% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($916 loan paydown + $9k appreciation (7.2% local appreciation)).
• Location reads 73/100 on livability (#309 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Cuba-Rushford Central School District (rural): math 44% / reading 61% proficiency, ranked #350 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cuba-Rushford Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 363 students, 57% FRL); Cuba-Rushford Middle School (math 12% / reading 52%, grade F, #511 of 729 statewide, top 71%, 167 students, 54% FRL); Cuba-Rushford High School (math 95% / reading 84%, grade A+, #250 of 1,100 statewide, top 24%, 209 students, 53% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $53k; list at $132k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 3.1% in Cuba — 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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.