956 Main St · Moravia, NY 13092

$144,900

3 bd · 1.0 ba · 1,425 sqft · SingleFamily public records · 127 Days on market

Built 1900 9,901 sqft lot $102/sqft · 23% below area Est $189k · 23% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• Appreciation +7.4/10.0
• DSCR +6.3/10.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity is knocking! Not a drive by! If you have vision this may be the one! 3 bedroom 1 full bath, 2 and a half story late Victorian era home with separate 2 car garage in the heart of Locke. Updates include an updated electrical service and panel box with 200 amp service as well as new front porch and steps and most interior windows replaced. House is full of gorgeous features including stained glass windows, original woodwork including doors, moldings and floors! Walk in through the formal front entry into the spacious living room which looks straight through into the vintage kitchen. Living room has French doors leading into an enclosed 3 season room. Dining room is also off the living room with gorgeous columns and a lovely window seat complete with storage space below. Upstairs you find 3 spacious bedrooms with a large full bathroom with an enclosed sleeping porch as well. Decent sized unfinished storage room that had damage from the leaking chimney before it was repaired. Next up to the amazing attic which is waiting for the right person to make it the spectacular space it’s meant to be! Use your imagination! * * * Property conveys as is. * * *

Key facts

• New front porch
• Window seat
• Original woodwork

Tags

• UPDATED ELECTRICAL SERVICE
• NEW FRONT PORCH
• STAINED GLASS WINDOWS
• ORIGINAL WOODWORK
• ENCLOSED 3 SEASON ROOM
• WINDOW SEAT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (1.4% below list).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.7% in Moravia — 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.

Location & tenants

• Location reads 72/100 on livability (#357 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Moravia Central School District (rural): math 42% / reading 56% proficiency, ranked #391 of 590 in NY (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.9% local appreciation)).
• Cayuga County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.
• Current owner paid $51k; list at $145k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.99% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

• ARV (median comp): $188,593
• List price: $144,900
• Delta: -23.17%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4665 W Cayuga St	0.15mi	3/1.0	1,388 (-3%)	24mo	$152,600	$110	69
12228 Water St	0.30mi	3/1.0	1,512 (+6%)	21mo	$150,000	$99	58
868 Main St	0.29mi	2/1.5 (-1)	1,468 (+3%)	20mo	$150,000	$102	57
4688 Maple Ave	0.39mi	4/1.5 (+1)	1,585 (+11%)	3mo	$170,000	$107	54
903 Main St	0.17mi	3/2.0	1,632 (+14%)	19mo	$169,900	$104	48

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

Projected returns pro-forma

4.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.08×
• Total profit: $43,737
• Equity at exit: $81,111

10-year hold

• IRR: 17.4%
• Equity multiple: 4.03×
• Total profit: $122,917
• Equity at exit: $139,166

Cash invested: $40,572 (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 13092

• Home prices YoY: 1.3%
• Active inventory: 13
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $177

Break-even live

Break-even rent $1,204

Max offer price $144,900

Occupancy floor 83%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $144,900 Active 127 DOM
2. 2026-06-18
   days on market $144,900 Active 126 DOM
3. 2026-06-17
   days on market $144,900 Active 125 DOM
4. 2026-06-16
   days on market $144,900 Active 124 DOM
5. 2026-06-15
   days on market $144,900 Active 123 DOM
6. 2026-06-14
   days on market $144,900 Active 121 DOM
7. 2026-06-12
   days on market $144,900 Active 120 DOM
8. 2026-06-09
   days on market $144,900 Active 117 DOM
9. 2026-06-08
   days on market $144,900 Active 116 DOM
10. 2026-06-07
    days on market $144,900 Active 115 DOM
11. 2026-06-05
    days on market $144,900 Active 112 DOM
12. 2026-06-02
    days on market $144,900 Active 110 DOM
13. 2026-06-01
    days on market $144,900 Active 109 DOM
14. 2026-05-31
    days on market $144,900 Active 108 DOM
15. 2026-05-30
    days on market $144,900 Active 107 DOM
16. 2026-04-12
    price $144,900 1186-char remark

    Show marketing remark (1186 chars)

    Opportunity is knocking! Not a drive by! If you have vision this may be the one! 3 bedroom 1 full bath, 2 and a half story late Victorian era home with separate 2 car garage in the heart of Locke. Updates include an updated electrical service and panel box with 200 amp service as well as new front porch and steps and most interior windows replaced. House is full of gorgeous features including stained glass windows, original woodwork including doors, moldings and floors! Walk in through the formal front entry into the spacious living room which looks straight through into the vintage kitchen. Living room has French doors leading into an enclosed 3 season room. Dining room is also off the living room with gorgeous columns and a lovely window seat complete with storage space below. Upstairs you find 3 spacious bedrooms with a large full bathroom with an enclosed sleeping porch as well. Decent sized unfinished storage room that had damage from the leaking chimney before it was repaired. Next up to the amazing attic which is waiting for the right person to make it the spectacular space it’s meant to be! Use your imagination! * * * Property conveys as is. * * *

17. 2026-02-12
    listed $149,900 Active 1186-char remark

    Show marketing remark (1186 chars)

    Opportunity is knocking! Not a drive by! If you have vision this may be the one! 3 bedroom 1 full bath, 2 and a half story late Victorian era home with separate 2 car garage in the heart of Locke. Updates include an updated electrical service and panel box with 200 amp service as well as new front porch and steps and most interior windows replaced. House is full of gorgeous features including stained glass windows, original woodwork including doors, moldings and floors! Walk in through the formal front entry into the spacious living room which looks straight through into the vintage kitchen. Living room has French doors leading into an enclosed 3 season room. Dining room is also off the living room with gorgeous columns and a lovely window seat complete with storage space below. Upstairs you find 3 spacious bedrooms with a large full bathroom with an enclosed sleeping porch as well. Decent sized unfinished storage room that had damage from the leaking chimney before it was repaired. Next up to the amazing attic which is waiting for the right person to make it the spectacular space it’s meant to be! Use your imagination! * * * Property conveys as is. * * *

18. 2017-11-03
    soldstatus $50,900
19. 2017-11-02
    soldstatus $50,900 Closed Sale or Rented 650-char remark

    Show marketing remark (650 chars)

    Opportunity knocks!! NOT A DRIVE BY!! Great chance to own a spectacular home filled w/ wonderful natural woodwork & delightful accents or a great flip!! Needs work but definately doable!! $4000.CREDIT AT CLOSING TOWARDS PAINT & REPAIRS! Downstairs has large living room, kitchen & dining room. Formal entrance w/ foyer closet! Enclosed heated 3 season porch w/ french glass doors! Hardwood floors. Upstairs 3 + bedrooms, 1 full bath w/ private sun porch ! Huge attic just waiting for your imagination! Could be fabulous master suite, game room or just great storage! Great back yard w/ 2 car garage!! Call today!! Motivated seller!!

20. 2017-11-02
    soldstatus $50,900

    Show marketing remark (650 chars)

    Opportunity knocks!! NOT A DRIVE BY!! Great chance to own a spectacular home filled w/ wonderful natural woodwork & delightful accents or a great flip!! Needs work but definately doable!! $4000.CREDIT AT CLOSING TOWARDS PAINT & REPAIRS! Downstairs has large living room, kitchen & dining room. Formal entrance w/ foyer closet! Enclosed heated 3 season porch w/ french glass doors! Hardwood floors. Upstairs 3 + bedrooms, 1 full bath w/ private sun porch ! Huge attic just waiting for your imagination! Could be fabulous master suite, game room or just great storage! Great back yard w/ 2 car garage!! Call today!! Motivated seller!!

21. 2017-09-06
    status Pending Sale 650-char remark

    Show marketing remark (650 chars)

    Opportunity knocks!! NOT A DRIVE BY!! Great chance to own a spectacular home filled w/ wonderful natural woodwork & delightful accents or a great flip!! Needs work but definately doable!! $4000.CREDIT AT CLOSING TOWARDS PAINT & REPAIRS! Downstairs has large living room, kitchen & dining room. Formal entrance w/ foyer closet! Enclosed heated 3 season porch w/ french glass doors! Hardwood floors. Upstairs 3 + bedrooms, 1 full bath w/ private sun porch ! Huge attic just waiting for your imagination! Could be fabulous master suite, game room or just great storage! Great back yard w/ 2 car garage!! Call today!! Motivated seller!!

22. 2017-08-14
    historical Continue to Show- Under Contract 650-char remark

    Show marketing remark (650 chars)

    Opportunity knocks!! NOT A DRIVE BY!! Great chance to own a spectacular home filled w/ wonderful natural woodwork & delightful accents or a great flip!! Needs work but definately doable!! $4000.CREDIT AT CLOSING TOWARDS PAINT & REPAIRS! Downstairs has large living room, kitchen & dining room. Formal entrance w/ foyer closet! Enclosed heated 3 season porch w/ french glass doors! Hardwood floors. Upstairs 3 + bedrooms, 1 full bath w/ private sun porch ! Huge attic just waiting for your imagination! Could be fabulous master suite, game room or just great storage! Great back yard w/ 2 car garage!! Call today!! Motivated seller!!

23. 2017-08-02
    listed $54,900 Active 650-char remark

    Show marketing remark (650 chars)

    Opportunity knocks!! NOT A DRIVE BY!! Great chance to own a spectacular home filled w/ wonderful natural woodwork & delightful accents or a great flip!! Needs work but definately doable!! $4000.CREDIT AT CLOSING TOWARDS PAINT & REPAIRS! Downstairs has large living room, kitchen & dining room. Formal entrance w/ foyer closet! Enclosed heated 3 season porch w/ french glass doors! Hardwood floors. Upstairs 3 + bedrooms, 1 full bath w/ private sun porch ! Huge attic just waiting for your imagination! Could be fabulous master suite, game room or just great storage! Great back yard w/ 2 car garage!! Call today!! Motivated seller!!

24. 2017-08-01
    listed $54,900
25. 1992-10-27
    soldstatus $52,000

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$438/yr (+$36/mo · 27.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $17,144
• − Mortgage interest: −$8,117
• − Property taxes: −$1,574
• − Insurance: −$724
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$4,215
• Taxable loss: −$229
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $2,182/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: Moravia Central School District
• NCES district ID: 3619800
• Math proficiency: 42% ▼ -2.00%
• Reading proficiency: 56% ▲ 9.00%
• Median HH income: $55,991
• Composite: 42.47/100
• National rank: #3215
• State rank: #391 of 590 in NY

Livability — Moravia

• Score: 72/100
• State rank: #357
• US rank: #6025

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,707

Population outlook (Cayuga County) Hauer SSP2

• Today (2025): 74,820 people
• By 2030: 72,402 · -3.2%
• By 2040: 66,917 · -10.6%
• By 2050: 61,007 · -18.5%
• By 2075: 48,047 · -35.8%
• By 2100: 34,512 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 12% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Lithuanian 7% Iranian 3% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Cayuga

• 2024 margin: R (+13.0) · D 43.5% · R 56.5%
• 2008→2024 swing: -21.5pp toward R · 2008: 8.5pp · 2024: -13.0pp
• All cycles: 2024: R+13.0 2020: R+9.2 2016: R+13.2 2012: D+10.8 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.89%
• Current HPI: 368.6695
• 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

+178.7% since first listed

10 events — show timeline

• 2026-04-12 Price Changed $144,900 UNYREIS
• 2026-02-12 Listed $149,900 UNYREIS
• 2017-11-03 Sold (Public Records) $50,900 Public Records
• 2017-11-02 Sold (MLS) $50,900 IBRMLS
• 2017-11-02 Sold (MLS) $50,900 UNYREIS
• 2017-09-06 Pending — UNYREIS
• 2017-08-14 Contingent — UNYREIS
• 2017-08-02 Listed $54,900 UNYREIS
• 2017-08-01 Listed $54,900 IBRMLS
• 1992-10-27 Sold (Public Records) $52,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,574 · +1.9% YoY. Source: county tax records.