2760 State Route 5 And 20 · Gorham, NY 14561

$149,900

4 bd · 1.5 ba · 1,784 sqft · SingleFamily public records · 71 Days on market

Built 1915 7,841 sqft lot $84/sqft · 51% below area

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Why this score? — see what drove the C+ 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• 1% rule +6.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

Key facts

• Detached garage
• 7,841 sq ft lot
• Garage

Tags

• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#796 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, cost of living A-; Watch: schools C-, crime F, amenities F.
• Gorham-Middlesex Central School District (Marcus Whitman) (rural): math 36% / reading 42% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 284 units permitted in Ontario County in 2024 (69 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.8% local appreciation)).
• Ontario County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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. 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. 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: 1.10% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (median comp): $303,976
• List price: $149,900
• Delta: -50.69%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

4.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.24×
• Total profit: $52,246
• Equity at exit: $83,058

10-year hold

• IRR: 19.8%
• Equity multiple: 4.38×
• Total profit: $141,989
• Equity at exit: $141,809

Cash invested: $41,972 (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 14561

• Home prices YoY: 1.7%
• Active inventory: 8
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,644 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$144 /mo · $1,734/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $306

Break-even live

Break-even rent $1,257

Max offer price $149,900

Occupancy floor 76%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-16
   statusdays on market $149,900 Pending 71 DOM
2. 2026-06-15
   days on market $149,900 Active 70 DOM
3. 2026-06-13
   days on market $149,900 Active 68 DOM
4. 2026-06-10
   days on market $149,900 Active 65 DOM
5. 2026-06-09
   days on market $149,900 Active 64 DOM
6. 2026-06-09
   days on market $149,900 Active 63 DOM
7. 2026-06-07
   days on market $149,900 Active 62 DOM
8. 2026-06-05
   days on market $149,900 Active 59 DOM
9. 2026-06-03
   days on market $149,900 Active 58 DOM
10. 2026-06-03
    days on market $149,900 Active 57 DOM
11. 2026-06-01
    days on market $149,900 Active 56 DOM
12. 2026-05-31
    days on market $149,900 Active 55 DOM
13. 2026-05-04
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

14. 2026-05-01
    status Active 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

15. 2025-09-30
    status Active 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

16. 2025-05-01
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

17. 2025-05-01
    status Active 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

18. 2024-09-20
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

19. 2024-09-04
    listed $149,900 Active 206-char remark

    Show marketing remark (206 chars)

    Large 4 bedroom well maintained house in the countryside. Offering 4 bedrooms upstairs and a detached garage. This home was used as the parsonage for the Methodist Church for many years and well maintained.

ⓘ 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: $1,734 · $144/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$400/yr (+$33/mo · 23.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $19,728
• − Mortgage interest: −$8,397
• − Property taxes: −$1,734
• − Insurance: −$750
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$4,361
• Taxable income: $1,331
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $3,349/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: Gorham-Middlesex Central School District (Marcus Whitman)
• NCES district ID: 3612300
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $57,088
• Composite: 34.33/100
• National rank: #5233
• State rank: #519 of 590 in NY

Livability — Gorham

• Score: 63/100
• State rank: #796
• US rank: #15369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,198

Population outlook (Ontario County) Hauer SSP2

• Today (2025): 111,230 people
• By 2030: 111,401 · +0.2%
• By 2040: 109,535 · -1.5%
• By 2050: 104,895 · -5.7%
• By 2075: 92,999 · -16.4%
• By 2100: 73,723 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 2% Portuguese 2%
• Foreign-born: 0%
• Languages at home: 86% English-only · German/W. Germanic 13%

Political lean MEDSL · Ontario

• 2024 margin: Toss-up / Even · D 49.4% · R 50.6%
• 2008→2024 swing: -1.0pp toward R · 2008: -0.1pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: R+0.0 2016: R+8.6 2012: R+1.6 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.79%
• Current HPI: 292.3642
• 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

7 events — show timeline

• 2026-05-04 Pending — UNYREIS
• 2026-05-01 Relisted — UNYREIS
• 2025-09-30 Relisted — UNYREIS
• 2025-05-01 Pending — UNYREIS
• 2025-05-01 Relisted — UNYREIS
• 2024-09-20 Pending — UNYREIS
• 2024-09-04 Listed $149,900 UNYREIS

Property tax history

+18.0%/yr

Latest (2025): $1,734 · +634.2% YoY. Source: county tax records.