4623 Grady Site Pond 2 Rd

Rushville, NY 14507

$25,000C-

3 bd · 1.0 ba · 400 sqft · Built 2004 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,343/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$492
• Net cashflow: $1,678/mo
• Annual: $20,140/yr
• Cap rate: 86.85%
• Cash-on-cash: 287.71%
• DSCR: 13.80
• 1% rule: 9.37%
• Cash to close: $7,000

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $25k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $978 of equity ($173 loan paydown + $805 appreciation (3.2% local appreciation)).
• Location reads 55/100 on livability (#1,127 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Gorham-Middlesex Central School District (Marcus Whitman) (rural): math 36% / reading 42% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 107 units permitted in Yates County in 2024 (8 in 5+ unit buildings).
• Yates County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.