2250 County Road 139 · Ovid, NY 14521

$234,900

5 bd · 4.0 ba · 2,498 sqft · MultiFamily public records · 80 Days on market

Built 1880 1.07 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Great opportunity to own a well maintained 4-unit property in Ovid with solid potential. Property includes a mix of unit sizes, featuring one studio apartment along with additional residential units offering comfortable layouts. Each unit has separate utilities and tenants have off-street parking. Low operating expenses and easy management make this a great addition to any portfolio. New windows installed within the last 4 years. Strong opportunity for investors or owner-occupants seeking additional income.

Key facts

• 1.07 acre lot
• 2 parking spots
• Built 1880

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $561/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $235k).
• Recommended offer: $221k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#920 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools C-, health & safety D, crime F.
• South Seneca Central School District (rural): math 30% / reading 42% proficiency, ranked #552 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 48 units permitted in Seneca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Seneca County population projected at -14% 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 $66k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $235k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.06% ✓
• Cap rate: 17.76%
• Cash-on-cash: 40.96%
• DSCR: 2.82
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 56.0%
• Equity multiple: 5.12×
• Total profit: $270,964
• Equity at exit: $211,617

10-year hold

• IRR: 49.5%
• Equity multiple: 11.42×
• Total profit: $685,582
• Equity at exit: $456,359

Cash invested: $65,772 (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 14521

• Home prices YoY: 9.0%
• Active inventory: 25
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $4,833 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$243 /mo · $2,920/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,015
• Net cashflow: $2,245

Break-even live

Break-even rent $1,991

Max offer price $234,900

Occupancy floor 49%

Sensitivity live

Price	-10% $2,378	-5% $2,312	+0% $2,245	+5% $2,179	+10% $2,112
Rent	-10% $1,863	-5% $2,054	+0% $2,245	+5% $2,436	+10% $2,627
Rate	-1.0pp $2,363	-0.5pp $2,305	base $2,245	+0.5pp $2,184	+1.0pp $2,122

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$4,832
Total (4 units)			$4,833

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $234,900 Active 80 DOM
2. 2026-06-18
   days on market $234,900 Active 78 DOM
3. 2026-06-17
   days on market $234,900 Active 77 DOM
4. 2026-06-16
   days on market $234,900 Active 76 DOM
5. 2026-06-15
   days on market $234,900 Active 75 DOM
6. 2026-06-14
   price $234,900 Active 73 DOM
7. 2026-06-13
   days on market $265,000 Active 73 DOM
8. 2026-06-12
   days on market $265,000 Active 72 DOM
9. 2026-06-09
   days on market $265,000 Active 69 DOM
10. 2026-06-08
    days on market $265,000 Active 68 DOM
11. 2026-06-07
    days on market $265,000 Active 67 DOM
12. 2026-06-07
    days on market $265,000 Active 66 DOM
13. 2026-06-04
    days on market $265,000 Active 63 DOM
14. 2026-06-02
    days on market $265,000 Active 62 DOM
15. 2026-06-01
    days on market $265,000 Active 61 DOM
16. 2026-05-31
    days on market $265,000 Active 60 DOM
17. 2026-04-01
    listed $265,000 Active 512-char remark

    Show marketing remark (512 chars)

    Great opportunity to own a well maintained 4-unit property in Ovid with solid potential. Property includes a mix of unit sizes, featuring one studio apartment along with additional residential units offering comfortable layouts. Each unit has separate utilities and tenants have off-street parking. Low operating expenses and easy management make this a great addition to any portfolio. New windows installed within the last 4 years. Strong opportunity for investors or owner-occupants seeking additional income.

18. 2016-11-28
    soldstatus $75,000 238-char remark

    Show marketing remark (238 chars)

    Great income on this 4 family home! All separate utilities. First floor coin operated washer & dryer. Vinyl siding, main roof 3 years old. Most appliances updated in past 3 years. 12 x 16 storage shed. Large lot, plenty of parking.

19. 2016-11-17
    soldstatus $75,000
20. 2015-10-13
    listed $88,500 238-char remark

    Show marketing remark (238 chars)

    Great income on this 4 family home! All separate utilities. First floor coin operated washer & dryer. Vinyl siding, main roof 3 years old. Most appliances updated in past 3 years. 12 x 16 storage shed. Large lot, plenty of parking.

21. 2005-02-25
    soldstatus $53,000
22. 2005-02-25
    soldstatus $53,000
23. 2004-06-14
    listed $61,900

ⓘ 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: $2,920 · $243/mo
• Projected year-2 tax: $3,445 · $287/mo
• Expected delta: +$525/yr (+$44/mo · 18.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,996
• − Mortgage interest: −$13,158
• − Property taxes: −$2,920
• − Insurance: −$1,174
• − Repairs & maintenance: −$4,640
• − Management: −$4,640
• − Depreciation: −$6,833
• Taxable income: $24,631
• Est. tax owed @ 24.0%: −$5,911
• After-tax cash flow: $21,029/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: South Seneca Central School District
• NCES district ID: 3622140
• Math proficiency: 30% ▼ -21.00%
• Reading proficiency: 42% ▲ 5.00%
• Median HH income: $45,533
• Composite: 30.71/100
• National rank: #6170
• State rank: #552 of 590 in NY

Livability — Ovid

• Score: 61/100
• State rank: #920
• US rank: #17991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,282

Population outlook (Seneca County) Hauer SSP2

• Today (2025): 33,457 people
• By 2030: 32,540 · -2.7%
• By 2040: 30,680 · -8.3%
• By 2050: 28,875 · -13.7%
• By 2075: 24,757 · -26.0%
• By 2100: 19,591 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Romanian 2% Iranian 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 85% English-only · German/W. Germanic 9% Spanish 5%

Political lean MEDSL · Seneca

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -14.4pp toward R · 2008: 2.6pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: R+9.1 2016: R+12.1 2012: D+9.2 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.36%
• Current HPI: 332.6659
• 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

+328.1% since first listed

7 events — show timeline

• 2026-04-01 Listed $265,000 UNYREIS
• 2016-11-28 Sold (MLS) $75,000 UNYREIS
• 2016-11-17 Sold (Public Records) $75,000 Public Records
• 2015-10-13 Listed $88,500 UNYREIS
• 2005-02-25 Sold (Public Records) $53,000 Public Records
• 2005-02-25 Sold (MLS) $53,000 IBRMLS
• 2004-06-14 Listed $61,900 IBRMLS

Property tax history

+2.4%/yr

Latest (2025): $2,920 · +4.9% YoY. Source: county tax records.