3981 County Route 70a Unit N

Avoca, NY 14809

$129,000C+

3 bd · 2.0 ba · 1,917 sqft · Built 1790 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,248/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $94/mo
• Annual: $1,132/yr
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• 1% rule: 0.97%
• Cash to close: $36,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $129k. Condition is rated fair.
• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (3.3% below list).
• It's been on market 15 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (3.3% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($892 loan paydown + $8k appreciation (6.3% local appreciation)).
• Location reads 64/100 on livability (#735 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, health & safety D, amenities F.
• Avoca Central School District (rural): math 50% / reading 45% proficiency, ranked #522 of 755 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1790 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1790 — 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 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.

Repairs flagged (vision-AI assessment)

• Minor: Landscaping — Overgrown grass and shrubs need trimming
• Minor: Landscaping — Some overgrown grass and shrubs need trimming