2751 Ny-145

Preston-Potter Hollow, NY 12469

$89,900B+

4 bd · 2.0 ba · 1,376 sqft · Built 1940 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$309
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $491/mo
• Annual: $5,888/yr
• Cap rate: 12.84%
• Cash-on-cash: 23.39%
• DSCR: 2.04
• 1% rule: 1.79%
• Cash to close: $25,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($622 loan paydown + $7k appreciation (7.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Middleburgh Central School District (rural): math 44% / reading 54% proficiency, ranked #409 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Middleburgh Elementary School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 344 students, 54% FRL); Middleburgh Junior/Senior High School (math 57% / reading 67%, grade B-, #827 of 1,100 statewide, top 76%, 296 students, 52% FRL) — zoned schools average 53% FRL vs 36% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.8% vs local median 2.1% in Preston-Potter Hollow — 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

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.