7042 W Main Road Site #40

Lima, NY 14485

$84,900B

3 bd · 2.0 ba · 980 sqft · Built 2025 · Manufactured · Active · 456 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,403/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $521/mo
• Annual: $6,257/yr
• Cap rate: 13.66%
• Cash-on-cash: 26.32%
• DSCR: 2.17
• 1% rule: 1.65%
• Cash to close: $23,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 456 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#545 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, crime A-; Watch: schools D+, amenities F, commute F.
• Honeoye Falls-Lima Central School District (town): math 74% / reading 73% proficiency, ranked #96 of 590 in NY (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 19 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.
• 2 sale attempts; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 456 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.