15 Glenview Dr

Clifton Springs, NY 14432

$65,000B-

2 bd · 2.0 ba · 868 sqft · Built 2020 · Manufactured · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $896/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $259/mo
• Annual: $3,102/yr
• Cap rate: 11.07%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• 1% rule: 1.38%
• Cash to close: $18,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $65k. Condition is rated good.
• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($896 rent vs $65k).
• It's been on market 19 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#261 in NY, #4,132 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D, amenities F.
• Phelps-Clifton Springs Central School District (rural): math 31% / reading 46% proficiency, ranked #526 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $10k (13%) 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 $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• 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.