26 Clark St

Parishville, NY 13672

$168,500D+

4 bd · 2.0 ba · 1,572 sqft · Built 1900 · SingleFamily · Pending · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,427/mo
• Mortgage (P&I): −$884
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $-37/mo
• Annual: $-441/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $47,180

Investor read

• This is a 4-bed/2.0-bath single-family listed at $168k. Condition is rated good.
• At list price, monthly cash flow is $-37 ($-441/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (15.3% below list).
• It's been on market 81 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (15.3% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $319 appreciation (0.2% local appreciation)).
• Location reads 60/100 on livability (#997 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: employment C-, health & safety C-, crime F.
• Parishville-Hopkinton Central School District (rural): math 65% / reading 51% proficiency, ranked #326 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Parishville-Hopkinton Elementary School (math 52% / reading 47%, grade D, #1,085 of 2,108 statewide, top 56%, 176 students, 53% FRL); Parishville-Hopkinton Junior-Senior High School (math 52% / reading 64%, grade C, #879 of 1,100 statewide, top 80%, 169 students, 49% FRL) — zoned schools average 51% FRL vs 32% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 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.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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?
• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?