4825 Cedarvale Rd

Fairmount, NY 13215

$250,000D

3 bd · 2.0 ba · 1,759 sqft · Built 1920 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,966/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$464
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $-222/mo
• Annual: $-2,663/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• 1% rule: 0.79%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (21.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $197k (21.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#366 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: schools C-, crime D, amenities F.
• Marcellus Central School District (rural): math 53% / reading 61% proficiency, ranked #249 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.4%/yr); 63 active listings in the ZIP; high-income renter base; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 5.2% vs local median 4.1% in Fairmount — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 1920 — 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.