8989 Main St

Rushford, NY 14777

$165,000C-

5 bd · 2.5 ba · 2,688 sqft · Built 1994 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $-54/mo
• Annual: $-653/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• 1% rule: 0.83%
• Cash to close: $46,200

Investor read

• This is a 5-bed/2.5-bath single-family listed at $165k.
• At list price, monthly cash flow is $-54 ($-653/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (16.7% below list).
• It's been on market 108 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (16.7% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $888 appreciation (0.5% local appreciation)).
• Location reads 55/100 on livability (#1,140 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: employment D+, crime F, amenities F.
• Cuba-Rushford Central School District (rural): math 44% / reading 61% proficiency, ranked #350 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cuba-Rushford Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 363 students, 57% FRL); Cuba-Rushford Middle School (math 12% / reading 52%, grade F, #511 of 729 statewide, top 71%, 167 students, 54% FRL); Cuba-Rushford High School (math 95% / reading 84%, grade A+, #250 of 1,100 statewide, top 24%, 209 students, 53% FRL).
• Market conditions: 9 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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.