4055 Cr-15a

Dalton, NY 14709

$89,900C+

3 bd · 1.0 ba · 678 sqft · Built 1985 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $998/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $167/mo
• Annual: $2,007/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.97%
• DSCR: 1.35
• 1% rule: 1.11%
• Cash to close: $25,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $90k. Condition is rated fair.
• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $90k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (2.8% local appreciation)).
• Location reads 56/100 on livability (#1,112 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools C-, employment C-, crime F.
• Fillmore Central School District (rural): math 52% / reading 53% proficiency, ranked #359 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: flooring — Worn-out and in need of replacement
• Major: interior walls/paint — Painted walls with visible wear