6 Roosevelt Ave

Stamford, NY 12167

$269,000A-

8 bd · 3.0 ba · 3,008 sqft · Built 1900 · MultiFamily · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,012/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$487
• HOA: −$0
• Vac / Maint / Mgmt: −$1,263
• Net cashflow: $2,851/mo
• Annual: $34,217/yr
• Cap rate: 19.01%
• Cash-on-cash: 45.43%
• DSCR: 3.02
• 1% rule: 2.23%
• Cash to close: $75,320

Investor read

• This is a 1×3bd/1.5ba + 2×1bd/1.5ba units multifamily listed at $269k. Condition is rated fair.
• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $950/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $269k).
• It's been on market 128 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.2% local appreciation)).
• Location reads 67/100 on livability (#574 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment C-, schools D-, amenities F.
• Stamford Central School District (rural): math 40% / reading 35% proficiency, ranked #675 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 72 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 14 sale attempts since 8y 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.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 19.0% vs local median 4.3% in Stamford — 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.
• This rent per unit runs 41% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — 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?

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — The cabinets appear to be in poor condition and need replacement.
• Major: Bathroom fixtures — The bathroom fixtures appear to be in poor condition and need replacement.
• Major: Roof — The roof appears to be in poor condition and needs replacement.
• Moderate: Exterior siding — The siding shows signs of wear and tear and needs repainting or replacement.
• Minor: Landscaping — The landscaping needs trimming and some debris removal to improve curb appeal.