115 Lowber Rd

Schuylerville, NY 12834

$125,000D+

2 bd · 1.0 ba · 960 sqft · Built 1970 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,071/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$309
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $-118/mo
• Annual: $-1,421/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• 1% rule: 0.86%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $125k.
• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (14.3% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $104k (16.7% below list) — sets the bar for cash-flow.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 77/100 on livability (#186 in NY, #2,863 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D, commute F.
• Greenwich Central School District (town): math 59% / reading 60% proficiency, ranked #266 of 755 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Greenwich Elementary School (math 44% / reading 64%, grade C, #908 of 2,108 statewide, top 46%, 466 students, 37% FRL); Greenwich Junior-Senior High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 429 students, 32% FRL).
• Zoned-school proficiency averages 73% at this address vs 60% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Greenwich Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 23 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago 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.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1970 — 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?
• 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?
• 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.