23 Riverbank Rd · Endicott, NY 13850

$15,000

1 bd · 1.0 ba · 612 sqft · SingleFamily public records · 50 Days on market

Built 1985 7,405 sqft lot $25/sqft · 78% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

Key facts

• Gutted cottage
• Fixer-upper
• 7,405 sq ft lot

Tags

• GUTTED COTTAGE
• FIXER-UPPER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Cap rate 85.4% vs local median 5.5% in Endicott — 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 70/100 on livability (#438 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Vestal Central School District (suburban): math 63% / reading 68% proficiency, ranked #168 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Vestal Middle School (math 45% / reading 64%, grade B-, #214 of 729 statewide, top 31%, 781 students, 31% FRL); Vestal Senior High School (math 100%, 1,000 students, 26% FRL).
• Market conditions: 90 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $14,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 9.22% ✓
• Cap rate: 85.36%
• Cash-on-cash: 282.40%
• DSCR: 13.57
• GRM: 0.9

CMA / ARV

• ARV (median comp): $67,024
• List price: $15,000
• Delta: -77.62%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Riverbank Rd	0.00mi	1/1.0	612 (0%)	0mo	$15,500	$25	100

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.01×
• Total profit: $33,637
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 19.22×
• Total profit: $76,518
• Equity at exit: $1,297

Cash invested: $4,200 (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 13850

• Home prices YoY: -33.5%
• Active inventory: 90
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $562

Break-even live

Break-even rent $671

Max offer price $15,000

Occupancy floor 54%

Sensitivity live

Price	-10% $572	-5% $567	+0% $562	+5% $557	+10% $551
Rent	-10% $453	-5% $507	+0% $562	+5% $616	+10% $671
Rate	-1.0pp $569	-0.5pp $566	base $562	+0.5pp $558	+1.0pp $554

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-05
   status Pending 499-char remark

   Show marketing remark (499 chars)

   A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

2. 2026-04-20
   status Active 499-char remark

   Show marketing remark (499 chars)

   A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

3. 2026-04-20
   status Pending 499-char remark

   Show marketing remark (499 chars)

   A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

4. 2026-04-06
   historical Active Under Contract 499-char remark

   Show marketing remark (499 chars)

   A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

5. 2026-03-16
   listed $15,000 Active 499-char remark

   Show marketing remark (499 chars)

   A fully gutted cottage by the river is waiting for someone with vision to bring it back to life. It’s the kind of fixer-upper that begs for creativity, perfect for shaping into a peaceful vacation escape. Imagine waking up to the sound of water drifting by and letting the quiet settle in around you. With kayaking and fishing right at your doorstep, it’s a place where days stretch out gently and the world feels a little simpler. All it needs now is someone ready to make it their own.

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 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: $16,588
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$5,194
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$436
• Taxable income: $7,239
• Est. tax owed @ 24.0%: −$1,737
• After-tax cash flow: $5,005/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: Vestal Central School District
• NCES district ID: 3629610
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 68% ▲ 4.00%
• Median HH income: $64,143
• Composite: 56.97/100
• National rank: #1111
• State rank: #168 of 590 in NY

Livability — Endicott

• Score: 70/100
• State rank: #438
• US rank: #7657

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 42,896
• Population (ZIP): 23,675

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 12% Hispanic / Latino 5% Two or more races 5% Black 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Scotch-Irish 2% Italian 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 6% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.14%
• Current HPI: 282.4645
• 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

5 events — show timeline

• 2026-05-05 Pending — GBAOR
• 2026-04-20 Relisted — GBAOR
• 2026-04-20 Pending — GBAOR
• 2026-04-06 Contingent — GBAOR
• 2026-03-16 Listed $15,000 GBAOR

Property tax history

+5.4%/yr

Latest (2025): $1,341 · +72.5% YoY. Source: county tax records.