34 Old Rd

Windham, NY 12496

$525,000D

3 bd · 1.5 ba · 2,084 sqft · Built 1971 · SingleFamily · Pending · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,024/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$875
• HOA: −$0
• Vac / Maint / Mgmt: −$635
• Net cashflow: $-1,239/mo
• Annual: $-14,869/yr
• Cap rate: 3.46%
• Cash-on-cash: -10.11%
• DSCR: 0.55
• 1% rule: 0.58%
• Cash to close: $147,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $525k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $346k (34.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $302k (42.4% below list).
• It's been on market 147 days — a 12% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $302k (42.4% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($4k loan paydown + $27k appreciation (5.1% local appreciation)).
• Location reads 60/100 on livability (#964 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools C-, crime D+, cost of living D+.
• Windham-Ashland-Jewett Central School District (rural): math 55% / reading 40% proficiency, ranked #517 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $64k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $340k; list at $525k implies a 54% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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.
• Crime grade is D 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.