46 Lakewood Vlg

Medina, NY 14103

$87,500C+

2 bd · 1.0 ba · 988 sqft · Built 2007 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $900/mo
• Mortgage (P&I): −$459
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$189
• Net cashflow: $169/mo
• Annual: $2,027/yr
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• 1% rule: 1.03%
• Cash to close: $24,500

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $88k.
• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $88k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $374 of equity ($605 loan paydown + $-231 appreciation (-0.3% local appreciation)).
• Location reads 72/100 on livability (#344 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Medina Central School District (town): math 37% / reading 38% proficiency, ranked #548 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clifford Wise Intermediate School (math 17% / reading 34%, grade F, #1,821 of 2,108 statewide, top 86%, 395 students, 55% FRL); Medina Junior-Senior High School (math 67% / reading 52%, grade C+, #851 of 1,100 statewide, top 80%, 614 students, 46% FRL).
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Orleans County in 2024 (0 in 5+ unit buildings).
• Orleans County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $88k implies a 130% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 8.6% vs local median 4.9% in Medina — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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.