5998 Sh 58

Gouverneur, NY 13642

$120,000C+

3 bd · 2.0 ba · 1,188 sqft · Built 2004 · Manufactured · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,338/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$211
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $216/mo
• Annual: $2,598/yr
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• 1% rule: 1.11%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $8k of equity ($830 loan paydown + $8k appreciation (6.2% local appreciation)).
• Location reads 67/100 on livability (#605 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D+, amenities F, commute F.
• Gouverneur Central School District (town): math 23% / reading 34% proficiency, ranked #582 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 62 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y 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 $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.
• 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.