40 Brown Ave · Norwich, NY 13815

$75,000

4 bd · 2.0 ba · 1,789 sqft · SingleFamily public records · 325 Days on market

Built 1900 8,100 sqft lot Est $140k · 46% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great Opportunity!!! Over $10,000 of Improvements made!! - New Boiler installed in October 2025. - Dunkirk, high efficiency boiler. This spacious, 2-story, four-bedroom, one and a half bath residence features newer windows throughout, bringing natural light while improving energy efficiency. The home offers a comfortable layout, and some essential roof repairs were completed in 2014. A new sump pump was installed in the basement. All appliances will stay with the property including electric oven, refrigerator, washer and dryer. With a relatively spacious, partially enclosed back yard, you can enjoy peaceful living on a quiet neighborhood street. Conveniently located within walking distance

Key facts

• Newer windows
• 8,100 sq ft lot
• Garage

Tags

• NEWER WINDOWS
• ESSENTIAL ROOF REPAIRS
• PARTIALLY ENCLOSED BACK YARD
• WALKING DISTANCE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#447 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Norwich City School District (town): math 42% / reading 43% proficiency, ranked #498 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stanford J Gibson Primary School (400 students, 52% FRL); Norwich Middle School (math 34% / reading 48%, grade F, #402 of 729 statewide, top 56%, 381 students, 59% FRL); Norwich High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 546 students, 48% FRL).
• Zoned-school proficiency averages 62% at this address vs 42% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Norwich City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 84 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 325 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $20k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $75k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 325 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.51%
• DSCR: 2.40
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $139,542
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Birdsall St	0.20mi	4/1.5	1,770 (-1%)	7mo	$50,000	$28	81
6 Hickory St	0.40mi	3/2.0 (-1)	1,696 (-5%)	3mo	$125,000	$74	65
13 Jones Ave	0.33mi	4/2.0	1,862 (+4%)	18mo	$160,250	$86	63
153 E Main St	0.61mi	3/2.0 (-1)	1,768 (-1%)	10mo	$164,500	$93	56
34 Locust St	0.51mi	3/1.5 (-1)	1,824 (+2%)	14mo	$138,000	$76	54
42 Guernsey St	0.63mi	3/1.5 (-1)	1,609 (-10%)	2mo	$100,000	$62	46
12 Rexford St	0.69mi	4/2.0	2,037 (+14%)	1mo	$125,000	$61	44
37 Gold St	0.69mi	4/1.5	2,026 (+13%)	2mo	$157,950	$78	42
32 Park St	0.63mi	3/1.5 (-1)	1,645 (-8%)	14mo	$180,000	$109	38
77 Sheldon St	0.64mi	5/2.5 (+1)	1,971 (+10%)	11mo	$185,000	$94	37
12 Marshall St	0.61mi	4/3.0	1,536 (-14%)	15mo	$195,994	$128	31
180 Randall Ave	0.56mi	3/2.0 (-1)	2,044 (+14%)	18mo	$125,000	$61	30

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.3%
• Equity multiple: 4.62×
• Total profit: $76,078
• Equity at exit: $67,566

10-year hold

• IRR: 42.1%
• Equity multiple: 10.36×
• Total profit: $196,631
• Equity at exit: $145,709

Cash invested: $21,000 (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 13815

• Home prices YoY: 8.2%
• Active inventory: 84
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,529 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$232 /mo · $2,780/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $551

Break-even live

Break-even rent $831

Max offer price $75,000

Occupancy floor 59%

Sensitivity live

Price	-10% $594	-5% $573	+0% $551	+5% $530	+10% $509
Rent	-10% $431	-5% $491	+0% $551	+5% $612	+10% $672
Rate	-1.0pp $589	-0.5pp $571	base $551	+0.5pp $532	+1.0pp $512

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-05-31
   statusdays on market $75,000 Pending 325 DOM
2. 2026-04-26
   historical Active Under Contract
3. 2026-03-16
   status Active
4. 2026-02-19
   historical Active Under Contract
5. 2026-02-17
   status Active
6. 2026-02-13
   historical Active Under Contract
7. 2026-02-13
   status Active
8. 2026-02-12
   historical Active Under Contract
9. 2026-02-10
   status Pending
10. 2026-01-28
    price $75,000
11. 2025-12-17
    price $89,000
12. 2025-12-15
    status Active
13. 2025-11-04
    historical Active Under Contract
14. 2025-09-30
    price $84,900
15. 2025-08-22
    price $89,900
16. 2025-07-08
    listed $95,000 Active
17. 2021-11-07
    historical
18. 2021-07-12
    listed $72,500
19. 2019-01-23
    soldstatus $25,000
20. 2007-12-14
    soldstatus $123,600
21. 2007-12-14
    soldstatus $123,600
22. 2007-08-31
    listed $128,500
23. 1998-06-24
    soldstatus $52,900
24. 1992-10-19
    soldstatus $55,000

ⓘ 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: $2,780 · $232/mo
• Projected year-2 tax: $2,780 · $232/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,344
• − Mortgage interest: −$4,201
• − Property taxes: −$2,780
• − Insurance: −$375
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$2,182
• Taxable income: $5,872
• Est. tax owed @ 24.0%: −$1,409
• After-tax cash flow: $5,208/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: Norwich City School District
• NCES district ID: 3621330
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $40,687
• Composite: 35.68/100
• National rank: #4874
• State rank: #498 of 590 in NY

Livability — Norwich

• Score: 70/100
• State rank: #447
• US rank: #7857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, NY
• City population: 12,855
• Population (ZIP): 12,855

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 0%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.23%
• Current HPI: 280.463
• 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

+36.4% since first listed

23 events — show timeline

• 2026-04-26 Contingent — UNYREIS
• 2026-03-16 Relisted — UNYREIS
• 2026-02-19 Contingent — UNYREIS
• 2026-02-17 Relisted — UNYREIS
• 2026-02-13 Contingent — UNYREIS
• 2026-02-13 Relisted — UNYREIS
• 2026-02-12 Contingent — UNYREIS
• 2026-02-10 Pending — UNYREIS
• 2026-01-28 Price Changed $75,000 UNYREIS
• 2025-12-17 Price Changed $89,000 UNYREIS
• 2025-12-15 Relisted — UNYREIS
• 2025-11-04 Contingent — UNYREIS
• 2025-09-30 Price Changed $84,900 UNYREIS
• 2025-08-22 Price Changed $89,900 UNYREIS
• 2025-07-08 Listed $95,000 UNYREIS
• 2021-11-07 Listing Removed — UNYREIS
• 2021-07-12 Listed $72,500 UNYREIS
• 2019-01-23 Sold (Public Records) $25,000 Public Records
• 2007-12-14 Sold (Public Records) $123,600 Public Records
• 2007-12-14 Sold (MLS) $123,600 UNYREIS
• 2007-08-31 Listed $128,500 UNYREIS
• 1998-06-24 Sold (Public Records) $52,900 Public Records
• 1992-10-19 Sold (Public Records) $55,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,780 · +2.5% YoY. Source: county tax records.