1069 Route 44 55

Clintondale, NY 12515

$130,000B+

2 bd · 1.5 ba · 952 sqft · Built 1900 · SingleFamily · Active · 249 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,044/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$327
• HOA: −$0
• Vac / Maint / Mgmt: −$429
• Net cashflow: $606/mo
• Annual: $7,272/yr
• Cap rate: 12.50%
• Cash-on-cash: 22.17%
• DSCR: 1.99
• 1% rule: 1.57%
• Cash to close: $36,400

Investor read

• This is a 2-bed/1.5-bath single-family listed at $130k.
• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 249 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.3% local appreciation)).
• Location reads 64/100 on livability (#732 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment B+, housing B; Watch: schools D, cost of living D, amenities F.
• Highland Central School District (suburban): math 50% / reading 69% proficiency, ranked #227 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.5% vs local median 2.9% in Clintondale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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.