3459 Route 9 #24

Claverack-Red Mills, NY 12534

$96,000A

3 bd · 2.0 ba · 1,216 sqft · Built 2002 · Manufactured · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,729/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$573
• Net cashflow: $1,493/mo
• Annual: $17,913/yr
• Cap rate: 24.95%
• Cash-on-cash: 66.64%
• DSCR: 3.97
• 1% rule: 2.84%
• Cash to close: $26,880

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $96k. Condition is rated average.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $96k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($664 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~1 year — 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.
• Cap rate 25.0% vs local median 3.9% in Claverack-Red Mills — 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.
• At $2,729/mo this rent would consume 45% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Light wear and tear visible on exterior
• Minor: Landscaping — Some overgrown areas