941 County Road 16

Painted Post, NY 14812

$36,500B+

3 bd · 1.0 ba · 1,256 sqft · Built 1900 · SingleFamily · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,239/mo
• Mortgage (P&I): −$191
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $600/mo
• Annual: $7,195/yr
• Cap rate: 27.83%
• Cash-on-cash: 76.93%
• DSCR: 4.42
• 1% rule: 3.39%
• Cash to close: $10,220

Investor read

• This is a 3-bed/1.0-bath single-family listed at $36k.
• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 51 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($252 loan paydown + $3k appreciation (7.0% local appreciation)).
• Location reads 75/100 on livability (#255 in NY, #4,036 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• Bradford Central School District (rural): math 40% / reading 30% proficiency, ranked #695 of 755 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.8% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k 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.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.