77 South St

Port Byron, NY 13140

$98,900C+

2 bd · 1.0 ba · 808 sqft · Built 1920 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $929/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $50/mo
• Annual: $602/yr
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $27,692

Investor read

• This is a 2-bed/1.0-bath single-family listed at $99k. Condition is rated fair.
• At list price, monthly cash flow is $50 ($602/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (6.1% below list).
• It's been on market 87 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (6.1% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($684 loan paydown + $9k appreciation (8.9% local appreciation)).
• Location reads 64/100 on livability (#778 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Port Byron Central School District (rural): math 36% / reading 48% proficiency, ranked #490 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: A A Gates Elementary School (math 27% / reading 42%, grade F, #1,577 of 2,108 statewide, top 77%, 413 students, 0% FRL); Port Byron Senior High School (math 47% / reading 57%, grade D+, #946 of 1,100 statewide, top 88%, 355 students, 92% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• Cayuga County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Light blue siding with some discoloration
• Minor: Landscaping — Appears maintained but not recently landscaped