810 Tulip St

Liverpool, NY 13088

$149,000C-

2 bd · 1.0 ba · 800 sqft · Built 1941 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,580/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $-9/mo
• Annual: $-112/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 1.06%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $-9 ($-112/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (1.1% below list).
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $147k (1.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#16 in NY, #363 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Liverpool Central School District (suburban): math 49% / reading 49% proficiency, ranked #381 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liverpool Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 360 students, 53% FRL); Chestnut Hill Middle School (math 41% / reading 39%, grade F, #413 of 729 statewide, top 57%, 399 students, 48% FRL); Liverpool High School (math 94% / reading 54%, grade B+, #658 of 1,100 statewide, top 60%, 2,124 students, 42% FRL) — zoned schools average 48% FRL vs 28% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.9% of price; flood insurance adds $56/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 66 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $43k; list at $149k implies a 247% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 5.0% in Liverpool — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.