191 Hasbrouck A Rd

Loch Sheldrake, NY 12759

$179,000B+

2 bd · 2.0 ba · 1,232 sqft · Built 1951 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,575/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$424
• HOA: −$0
• Vac / Maint / Mgmt: −$541
• Net cashflow: $672/mo
• Annual: $8,064/yr
• Cap rate: 11.64%
• Cash-on-cash: 19.09%
• DSCR: 1.85
• 1% rule: 1.44%
• Cash to close: $50,120

Investor read

• This is a 2-bed/2.0-bath single-family listed at $179k. Condition is rated fair.
• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• It's been on market 90 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#793 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: amenities F, commute F, health & safety D-.
• Fallsburg Central School District (town): math 29% / reading 27% proficiency, ranked #583 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Benjamin Cosor Elementary School (math 8% / reading 22%, grade F, #2,024 of 2,108 statewide, top 97%, 810 students, 72% FRL); Fallsburg Junior Senior High School (math 52% / reading 32%, grade F, #1,046 of 1,100 statewide, top 96%, 684 students, 64% FRL).
• Watch-outs: flood insurance adds $125/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?

Repairs flagged (vision-AI assessment)

• Major: interior walls and paint — Dated wood paneling and paint need to be updated.
• Major: kitchen cabinets and appliances — Dated cabinets and appliances need to be replaced.
• Major: bathroom tile and fixtures — Dated tile and fixtures need to be replaced.
• Major: flooring — Dated carpet and flooring need to be replaced.
• Major: interior walls and paint — Dated wood paneling and paint need to be updated.
• Major: windows — Dated window frames need to be replaced.