110 Ash St

Corinth, NY 12822

$199,000D

3 bd · 1.0 ba · 1,176 sqft · Built 1960 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,193/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$449
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $-550/mo
• Annual: $-6,602/yr
• Cap rate: 2.98%
• Cash-on-cash: -11.85%
• DSCR: 0.47
• 1% rule: 0.60%
• Cash to close: $55,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-550 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (48.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (40.1% below list).
• It's been on market 52 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (48.8% below list) — sets the bar for cash-flow.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#514 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living B+; Watch: employment C-, amenities F, commute F.
• Corinth Central School District (town): math 38% / reading 53% proficiency, ranked #448 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth Elementary School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 410 students, 53% FRL); Corinth Middle School (math 22% / reading 47%, grade F, #483 of 729 statewide, top 68%, 333 students, 46% FRL); Corinth High School (math 92% / reading 87%, grade A+, #265 of 1,100 statewide, top 26%, 342 students, 42% FRL).
• Market conditions: 43 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 14y ago; this cycle's ask is 34% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $127k; list at $199k implies a 57% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 52 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.