105 Beechwood Rd

Sharon Springs, NY 13459

$124,900B+

4 bd · 2.5 ba · 1,760 sqft · Built 1940 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,436/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $271/mo
• Annual: $3,252/yr
• Cap rate: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• 1% rule: 1.15%
• Cash to close: $34,972

Investor read

• This is a 4-bed/2.5-bath single-family listed at $125k.
• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#945 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: health & safety C-, schools D, crime F.
• Sharon Springs Central School District (rural): math 45% / reading 45% proficiency, ranked #568 of 755 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1940 — 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.
• Schools are D-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.
• 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.