21 Murray St · Mount Morris, NY 14510

$114,900

5 bd · 3.0 ba · 2,736 sqft · MultiFamily public records · 37 Days on market

Built 1920 0.32 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 +4.6/10.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Tri-plex opportunity in a convenient location on a quiet village street! This property has 2-2-bedroom 1-bathroom units and a large 3-bedroom 1-bathroom unit all with their own separate utilities! All units also have laundry hook ups! The unoccupied units need some TLC but could be ready to rent in no time! The 2-car garage is great for storage and also has an office in the top of it! The property also has a large lot that could be utilized for more parking or build another garage for storage!

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Financial info: Three-unit multi-family property; Operating expenses include insurance and maintenance; Tenant(s) pay all utilities; One unit currently rented for $700 month-to-month

Exterior

• Parking: Has garage with 2 spaces; Common parking and on-street parking available; Two or more unpaved spaces
• Utilities: Public water connected; Sewer connected; Electric service with separate meters for each unit; Separate gas meters for each unit
• Home design: Two-story building; Wood siding construction; Property described as resale/fixer
• Construction: Wood siding exterior; Existing construction
• Exterior features: Rectangular residential lot; Road frontage on a city street and main thoroughfare; Lot dimensions approximately 70 x 195

Interior

• Kitchen: Eat-in kitchens; Dining area with kitchen; One unit includes oven/range and refrigerator
• Bedrooms: Two 2-bedroom units; One 3-bedroom unit
• Flooring: Vinyl and varying flooring types
• Bathrooms: Three full bathrooms total (across units); Each unit has one full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Varied flooring with vinyl in areas; Basement with partial finish, exterior entry and walk-up access; Electric water heater
• Laundry & utility: Laundry in each unit

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,027 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Mount Morris Central School District (town): math 31% / reading 47% proficiency, ranked #537 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $794 of loan paydown is wiped out by about $938 of value loss. Plan a longer hold.
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $115k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.97% ✓
• Cap rate: 23.48%
• Cash-on-cash: 61.37%
• DSCR: 3.73
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.4%
• Equity multiple: 4.02×
• Total profit: $97,301
• Equity at exit: $28,751

10-year hold

• IRR: 65.2%
• Equity multiple: 8.18×
• Total profit: $230,856
• Equity at exit: $31,064

Cash invested: $32,172 (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 14510

• Home prices YoY: -0.3%
• Active inventory: 27
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,409 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$397 /mo · $4,769/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $1,645

Break-even live

Break-even rent $1,326

Max offer price $114,900

Occupancy floor 47%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,278
1× unit	3	1	$1,131
Total (3 units)			$3,409

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $114,900 Pending 37 DOM
2. 2026-06-09
   days on market $114,900 Active 36 DOM
3. 2026-06-08
   days on market $114,900 Active 35 DOM
4. 2026-06-07
   days on market $114,900 Active 34 DOM
5. 2026-06-07
   days on market $114,900 Active 33 DOM
6. 2026-06-04
   days on market $114,900 Active 30 DOM
7. 2026-06-02
   days on market $114,900 Active 29 DOM
8. 2026-06-01
   days on market $114,900 Active 28 DOM
9. 2026-05-31
   days on market $114,900 Active 27 DOM
10. 2026-05-04
    listed $124,900 Active
11. 1995-07-20
    soldstatus $60,000

ⓘ 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: $4,769 · $397/mo
• Projected year-2 tax: $4,769 · $397/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,908
• − Mortgage interest: −$6,436
• − Property taxes: −$4,769
• − Insurance: −$574
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − Depreciation: −$3,343
• Taxable income: $19,241
• Est. tax owed @ 24.0%: −$4,618
• After-tax cash flow: $15,126/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: Mount Morris Central School District
• NCES district ID: 3620010
• Math proficiency: 31% ▼ -3.00%
• Reading proficiency: 47% ▲ 10.00%
• Median HH income: $42,913
• Composite: 32.93/100
• National rank: #5596
• State rank: #537 of 590 in NY

Livability — Mount Morris

• Score: 59/100
• State rank: #1027
• US rank: #20058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Morris, NY
• Population (ZIP): 4,781

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 63,466 people
• By 2030: 61,966 · -2.4%
• By 2040: 58,398 · -8.0%
• By 2050: 54,955 · -13.4%
• By 2075: 49,958 · -21.3%
• By 2100: 43,944 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Portuguese 4% Lithuanian 2% Serbian 2%
• Foreign-born: 1%
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+21.4) · D 39.3% · R 60.7%
• 2008→2024 swing: -13.6pp toward R · 2008: -7.9pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+18.2 2016: R+27.8 2012: R+9.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.82%
• Current HPI: 250.0593
• 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

+108.2% since first listed

2 events — show timeline

• 2026-05-04 Listed $124,900 UNYREIS
• 1995-07-20 Sold (Public Records) $60,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $4,769 · -2.4% YoY. Source: county tax records.