64 Patio Rd

Scotchtown, NY 10941

$299,900C-

3 bd · 1.5 ba · 1,440 sqft · Built 1971 · Townhouse · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,694/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$438
• HOA: −$0
• Vac / Maint / Mgmt: −$566
• Net cashflow: $117/mo
• Annual: $1,405/yr
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• 1% rule: 0.90%
• Cash to close: $83,972

Investor read

• This is a 3-bed/1.5-bath townhouse listed at $300k.
• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (10.2% below list).
• It's been on market 71 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $269k (10.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#515 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, cost of living D, schools F.
• Pine Bush Central School District (rural): math 38% / reading 45% proficiency, ranked #468 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.1%/yr); 57 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• 9 sale attempts since 21y ago; this cycle's ask has dropped $32k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $149k; list at $300k implies a 101% gain — meaningful room to come down on a strong offer.
• Cap rate 6.8% vs local median 3.7% in Scotchtown — 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.
• This rent runs 33% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 71 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.