8097 Mount Morris Nunda Rd

Nunda, NY 14510

$159,900B

5 bd · 2.0 ba · 2,708 sqft · Built 1900 · MultiFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,317/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$282
• HOA: −$0
• Vac / Maint / Mgmt: −$487
• Net cashflow: $710/mo
• Annual: $8,515/yr
• Cap rate: 11.62%
• Cash-on-cash: 19.02%
• DSCR: 1.85
• 1% rule: 1.45%
• Cash to close: $44,772

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.
• At list price, monthly cash flow is $710 ($9k/yr) — positive. Per door: $355/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 76 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-0.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#745 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Dalton-Nunda Central School District (Keshequa) (rural): math 39% / reading 42% proficiency, ranked #515 of 590 in NY (top 87%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dalton-Nunda Primary School (math 15% / reading 24%, grade F, #1,972 of 2,108 statewide, top 94%, 164 students, 60% FRL); Dalton-Nunda Intermediate School (math 42% / reading 37%, grade F, #418 of 729 statewide, top 59%, 111 students, 0% FRL); Dalton-Nunda Secondary School (math 42% / reading 52%, grade D-, #1,007 of 1,100 statewide, top 93%, 269 students, 50% FRL) — zoned schools at 37% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $56k; list at $160k implies a 185% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1900 — 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.
• 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.