110 Cottontail Ln

Woodstock, NY 12498

$539,000B+

4 bd · 2.5 ba · 2,265 sqft · Built 1957 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $12,184/mo
• Mortgage (P&I): −$2,827
• Tax + insurance: −$795
• HOA: −$0
• Vac / Maint / Mgmt: −$2,559
• Net cashflow: $6,004/mo
• Annual: $72,050/yr
• Cap rate: 19.66%
• Cash-on-cash: 47.74%
• DSCR: 3.12
• 1% rule: 2.26%
• Cash to close: $150,920

Investor read

• This is a 4-bed/2.5-bath multifamily listed at $539k.
• At list price, monthly cash flow is $6k ($72k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $539k).
• It's been on market 38 days — a 3% lower offer ($523k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $523k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#205 in NY, #3,176 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, health & safety A+; Watch: employment D, commute F, cost of living F.
• Saugerties Central School District (suburban): math 38% / reading 57% proficiency, ranked #419 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morse School (math 27% / reading 62%, grade F, #1,277 of 2,108 statewide, top 64%, 301 students, 49% FRL); Saugerties Junior High School (math 20% / reading 44%, grade F, #511 of 729 statewide, top 71%, 358 students, 46% FRL); Saugerties Senior High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 756 students, 44% FRL) — zoned schools average 46% FRL vs 31% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $539k implies a 315% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $151k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.7% vs local median 2.6% in Woodstock — 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1957 — 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.
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.