5 Pacific St

Granville, NY 12832

$129,000D+

3 bd · 1.5 ba · 1,204 sqft · Built 1880 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,207/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-14/mo
• Annual: $-168/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• 1% rule: 0.94%
• Cash to close: $36,120

Investor read

• This is a 3-bed/1.5-bath single-family listed at $129k.
• At list price, monthly cash flow is $-14 ($-168/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (6.4% below list).
• It's been on market 21 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (6.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.3%/yr); year-one equity from $892 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#846 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Granville Central School District (town): math 38% / reading 43% proficiency, ranked #521 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary J Tanner Primary School (math 44% / reading 44%, grade F, #1,277 of 2,108 statewide, top 64%, 312 students, 42% FRL); Granville Elementary School (math 22% / reading 42%, grade F, #511 of 729 statewide, top 71%, 202 students, 50% FRL); Granville Junior-Senior High School (math 57% / reading 42%, grade D, #974 of 1,100 statewide, top 91%, 496 students, 40% FRL) — zoned schools at 44% FRL track the district average.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 62 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 17y 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 $42k; list at $129k implies a 204% gain — meaningful room to come down on a strong offer.

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?
• Built in 1880 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.