8 2nd St

Edwards, NY 13635

$45,000B

2 bd · 1.0 ba · 1,240 sqft · Built 1890 · SingleFamily · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,062/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $528/mo
• Annual: $6,337/yr
• Cap rate: 20.37%
• Cash-on-cash: 50.29%
• DSCR: 3.24
• 1% rule: 2.36%
• Cash to close: $12,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $45k. Condition is rated poor.
• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 98 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($311 loan paydown + $1k appreciation (2.6% local appreciation)).
• Location reads 56/100 on livability (#1,113 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment D, health & safety D, crime F.
• Edwards-Knox Central School District (rural): math 40% / reading 52% proficiency, ranked #454 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edwards-Knox Elementary School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 294 students, 56% FRL); Edwards-Knox Junior-Senior High School (math 52% / reading 57%, grade C-, #912 of 1,100 statewide, top 85%, 221 students, 59% FRL) — zoned schools at 58% FRL track the district average.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1890 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and wear
• Major: exterior siding — Weathered and peeling
• Major: fencing — Falling apart
• Major: landscaping — Minimal and unkempt
• Major: kitchen flooring — Worn and in need of replacement
• Major: bathroom flooring — Worn and in need of replacement