4 Elm St

Granville, NY 12832

$105,000B

5 bd · 2.0 ba · 2,174 sqft · Built 1911 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,516/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $488/mo
• Annual: $5,856/yr
• Cap rate: 11.87%
• Cash-on-cash: 19.92%
• DSCR: 1.89
• 1% rule: 1.44%
• Cash to close: $29,400

Investor read

• This is a 5-bed/2.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.3%/yr); year-one equity from $726 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#846 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Granville Central School District (town): math 38% / reading 43% proficiency, ranked #521 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Granville Junior-Senior High School (math 57% / reading 42%, grade D, #974 of 1,100 statewide, top 91%, 496 students, 40% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 62 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.
• 7 sale attempts since 16y 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.
• Current owner paid $22k; list at $105k implies a 377% gain — meaningful room to come down on a strong offer.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1911 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.