1017 State Route 11

Brushton, NY 12957

$99,900C

1 bd · 1.0 ba · 1,057 sqft · Built 1920 · SingleFamily · Active · 174 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,004/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $131/mo
• Annual: $1,569/yr
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• 1% rule: 1.01%
• Cash to close: $27,972

Investor read

• This is a 1-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 174 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($691 loan paydown + $10k appreciation (9.8% local appreciation)).
• Location reads 61/100 on livability (#928 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Brushton-Moira Central School District (rural): math 38% / reading 46% proficiency, ranked #503 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brushton Grade School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 457 students, 60% FRL); Brushton-Moira High School (math 42% / reading 47%, grade F, #1,032 of 1,100 statewide, top 95%, 328 students, 60% FRL) — zoned schools average 60% FRL vs 45% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F 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?
• 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.