Champion/Redman D & R Village Plan

Clifton Gardens, NY 12065

$160,000B

3 bd · 2.0 ba · 1,600 sqft · Built — · Manufactured · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,088/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$439
• Net cashflow: $544/mo
• Annual: $6,530/yr
• Cap rate: 10.37%
• Cash-on-cash: 14.58%
• DSCR: 1.65
• 1% rule: 1.31%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated good.
• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 63 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Shenendehowa Central School District (suburban): math 72% / reading 73% proficiency, ranked #98 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.7%/yr); 265 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.4% vs local median 3.3% in Clifton Gardens — 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

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.