287 Autumn Chapel Way

Scottsville, NY 14624

$99,900B

2 bd · 1.5 ba · 1,164 sqft · Built 1972 · Condo · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,876/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$170
• HOA: −$300
• Vac / Maint / Mgmt: −$394
• Net cashflow: $489/mo
• Annual: $5,864/yr
• Cap rate: 12.16%
• Cash-on-cash: 20.96%
• DSCR: 1.93
• 1% rule: 1.88%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.5-bath condo listed at $100k.
• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#409 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living B+; Watch: amenities F, commute F, health & safety D-.
• Churchville-Chili Central School District (rural): math 53% / reading 57% proficiency, ranked #291 of 590 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Churchville-Chili Middle School (math 39% / reading 50%, grade D, #348 of 729 statewide, top 50%, 1,156 students, 34% FRL); Churchville-Chili Senior High School (math 95% / reading 98%, grade A+, #59 of 1,100 statewide, top 6%, 1,192 students, 30% FRL).
• Zoned-school proficiency averages 70% at this address vs 55% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Churchville-Chili Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 127 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.2% vs local median 3.8% in Scottsville — 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

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.