7625 Wheaton Hill Rd

Springwater, NY 14560

$39,900B-

2 bd · 1.0 ba · 1,008 sqft · Built 1988 · Manufactured · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,181/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $572/mo
• Annual: $6,870/yr
• Cap rate: 23.51%
• Cash-on-cash: 61.49%
• DSCR: 3.74
• 1% rule: 2.96%
• Cash to close: $11,172

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 16 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wayland-Cohocton Central School District (rural): math 40% / reading 53% proficiency, ranked #446 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wayland Elementary School (math 37% / reading 62%, grade D, #1,085 of 2,108 statewide, top 56%, 466 students, 63% FRL); Wayland-Cohocton Middle School (math 27% / reading 49%, grade F, #442 of 729 statewide, top 61%, 379 students, 62% FRL); Wayland-Cohocton High School (math 92%, 394 students, 59% FRL) — zoned schools average 61% FRL vs 39% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 4.0% of price.
• Market conditions: 16 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.