5962 State Route 224 · Odessa, NY 14824

$65,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 15 Days on market

Built 1949 1.10 ac lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located in the heart of the beautiful Finger Lakes region of New York, this property offers an unbeatable location just minutes from Watkins Glen, renowned wineries, local breweries, and all the area’s natural attractions. Set on over an acre of land, this three-bedroom Cape Cod presents a fantastic opportunity for investors or buyers looking to add their personal touch. The home features hardwood floors, a spacious kitchen with plenty of potential, and solid concrete block construction. A garage located under the home adds convenience and functionality. With some updates and vision, this property could truly shine. Being sold as-is, where-is—bring your ideas and make the most o

Key facts

• Spacious kitchen
• Over an acre of land
• Hardwood floors

Tags

• OVER AN ACRE OF LAND
• HARDWOOD FLOORS
• SPACIOUS KITCHEN
• GARAGE LOCATED UNDER THE HOME

Property features AI

Finance

• Financial info: Other annual assessment: $227; Annual tax amount: $1,752
• HOA & community: Trails/paths nearby

Exterior

• Parking: Attached underground garage with workshop; 1 garage space
• Utilities: Electricity connected (fuses); Well water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story home; Resale property; Shingle roof
• Construction: Block and concrete construction; Block foundation; Existing structure
• Exterior features: Partial fence; Gravel driveway; Main thoroughfare road frontage; Has a view; Rectangular lot (approx. 1.1 acres, dimensions 172 x 157)

Interior

• Kitchen: Electric oven; Electric range; Refrigerator; Eat-in kitchen layout
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Propane heating; Forced air heating
• Interior features: Separate/formal dining room; Entrance foyer; Eat-in kitchen; Has basement with full, walk-out access; Total of 6 rooms
• Laundry & utility: Propane water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#602 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: health & safety D, crime F, amenities F.
• Odessa-Montour Central School District (rural): math 41% / reading 60% proficiency, ranked #383 of 590 in NY (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.8% local appreciation)).
• Schuyler County population projected at -15% 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.25% ✓
• Cap rate: 18.28%
• Cash-on-cash: 42.80%
• DSCR: 2.90
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $158,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5885 County Road 11	0.62mi	2/1.5 (-1)	1,184 (-6%)	4mo	$149,000	$126	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.67×
• Total profit: $48,647
• Equity at exit: $28,601

10-year hold

• IRR: 47.9%
• Equity multiple: 7.38×
• Total profit: $116,054
• Equity at exit: $43,598

Cash invested: $18,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14824

• Home prices YoY: 1.5%
• Active inventory: 4
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$138 /mo · $1,655/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $649

Break-even live

Break-even rent $640

Max offer price $65,000

Occupancy floor 51%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-04-19
   historical Active Under Contract
3. 2026-04-14
   listed $65,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,655 · $138/mo
• Projected year-2 tax: $1,655 · $138/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,546
• − Mortgage interest: −$3,641
• − Property taxes: −$1,655
• − Insurance: −$325
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$1,891
• Taxable income: $7,226
• Est. tax owed @ 24.0%: −$1,734
• After-tax cash flow: $6,056/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Odessa-Montour Central School District
• NCES district ID: 3621630
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 60% ▲ 7.00%
• Median HH income: $46,720
• Composite: 42.81/100
• National rank: #3142
• State rank: #383 of 590 in NY

Livability — Odessa

• Score: 67/100
• State rank: #602
• US rank: #10906

Category grades

Amenities F Commute F Cost of living A Crime F Employment A+ Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 778

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Black 3% Two or more races 2%
• Common ancestry: Lithuanian 1% Subsaharan African 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.83%
• Current HPI: 192.69
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

3 events — show timeline

• 2026-04-29 Pending — UNYREIS
• 2026-04-19 Contingent — UNYREIS
• 2026-04-14 Listed $65,000 UNYREIS

Property tax history

+4.1%/yr

Latest (2025): $1,655 · +0.8% YoY. Source: county tax records.