336 Parsons Rd

Chenango Bridge, NY 13746

$50,000A-

2 bd · 1.0 ba · 980 sqft · Built 1986 · Manufactured · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $915/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$173
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $288/mo
• Annual: $3,453/yr
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• 1% rule: 1.83%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($915 rent vs $50k).
• It's been on market 108 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($346 loan paydown + $4k appreciation (9.0% local appreciation)).
• Location reads 69/100 on livability (#505 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment B+; Watch: schools D+, amenities F, commute F.
• Chenango Forks Central School District (suburban): math 47% / reading 61% proficiency, ranked #317 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 13 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.8% vs local median 4.0% in Chenango Bridge — 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

• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.