17 Main St · Waverly, NY 14859

$35,000

1 bd · 0.5 ba · 1,086 sqft · SingleFamily · 9 Days on market

Built 1920 Poor condition 5,227 sqft 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 +7.0/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Truly a diamond in the rough! A blank canvas with big potential. Turn this into you own home or a rental! Originally a post office, Then an Art Studio for a local artist ! Seller's plan was to rehab and turn into a rental property. Business with living area! This building is begging to be brought back to life! Bring your tools and imagination see the potential here. Directions: From Waverly NY Take NY -34 N to Main Street, Lockwood Property will be on the Right Just before the RR Tracks Property As Is Condition there is a Well and Septic location unknown. Plumbing to half bath, commode and shop sink. Also Refer to Listing R1674476

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 9 days

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Electricity connected; Septic tank; Well water
• Home design: Single-story property; Existing/resale condition
• Construction: Block foundation; Block, concrete and stucco construction; Asphalt roof
• Exterior features: Owned propane tank; Rectangular lot (approx. 42 x 83)

Interior

• Bedrooms: One bedroom on the main level
• Flooring: Hardwood; Varies
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Propane heating
• Interior features: Loft; Some interiors vary in finish; see remarks
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 25.1% vs local median 4.6% in Waverly — 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 67/100 on livability (#569 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Waverly Central School District (town): math 41% / reading 46% proficiency, ranked #480 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($242 loan paydown + $1k appreciation (4.0% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.86% ✓
• Cap rate: 25.10%
• Cash-on-cash: 67.18%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $83,622
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Cayuta Ave	0.20mi	2/1.0 (+1)	968 (-11%)	11mo	$75,000	$77	56

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

Projected returns pro-forma

4.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 72.9%
• Equity multiple: 5.20×
• Total profit: $41,146
• Equity at exit: $17,832

10-year hold

• IRR: 71.6%
• Equity multiple: 10.71×
• Total profit: $95,201
• Equity at exit: $29,236

Cash invested: $9,800 (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 14859

• Home prices YoY: 1.5%
• Active inventory: 9
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,001 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $549

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 40%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $35,000 Active 9 DOM
2. 2026-06-17
   days on market $35,000 Active 8 DOM
3. 2026-06-16
   days on market $35,000 Active 7 DOM
4. 2026-06-15
   days on market $35,000 Active 6 DOM
5. 2026-06-13
   days on market $35,000 Active 4 DOM
6. 2026-06-12
   days on market $35,000 Active 3 DOM
7. 2026-06-09
   remarks 641-char remark
8. 2026-06-09
   listed $35,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $12,008
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$961
• − Management: −$961
• − Depreciation: −$1,018
• Taxable income: $6,408
• Est. tax owed @ 24.0%: −$1,538
• After-tax cash flow: $5,046/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive rehabilitation to bring it up to a livable condition. Significant structural and systems repairs are needed to make it move-in ready.

Repairs flagged

• Major Exterior siding — Severe peeling and damage
• Major Interior walls — Exposed ceiling beams and missing fixtures
• Major Flooring — Damaged and uneven
• Major Roof — Visible damage and potential leaks
• Major Plumbing — No visible plumbing in good condition
• Major Electrical — No visible electrical in good condition
• Major HVAC — No visible HVAC in good condition

Value-add opportunities

• Both Rehabilitation of exterior siding — Improves curb appeal and structural integrity
• Both Interior wall repairs and paint — Enhances interior aesthetics and living space
• Both Flooring replacement — Improves comfort and functionality
• Both Roof repair or replacement — Prevents water damage and extends property lifespan
• Both Plumbing and electrical upgrades — Ensures safety and functionality
• Both HVAC system installation — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe peeling and damage	Major	$15,000–50,000
Interior walls · Exposed ceiling beams and missing fixtures	Major	$15,000–50,000
Flooring · Damaged and uneven	Major	$15,000–50,000
Roof · Visible damage and potential leaks	Major	$15,000–50,000
Plumbing · No visible plumbing in good condition	Major	$15,000–50,000
Electrical · No visible electrical in good condition	Major	$15,000–50,000
HVAC · No visible HVAC in good condition	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Rehabilitation of exterior siding — Improves curb appeal and structural integrity ↑
• Both Interior wall repairs and paint — Enhances interior aesthetics and living space ↑
• Both Flooring replacement — Improves comfort and functionality ↑
• Both Roof repair or replacement — Prevents water damage and extends property lifespan ↑
• Both Plumbing and electrical upgrades — Ensures safety and functionality ↑
• Both HVAC system installation — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Waverly Central School District
• NCES district ID: 3630270
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▲ 8.00%
• Median HH income: $44,935
• Composite: 36.9/100
• National rank: #4544
• State rank: #480 of 590 in NY

Livability — Waverly

• Score: 67/100
• State rank: #569
• US rank: #10246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,100

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Serbian 4% Italian 2% Polish 2%
• Foreign-born: 0% · China

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.04%
• Current HPI: 280.4947
• 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

1 event — show timeline

• 2026-06-09 Listed $35,000 UNYREIS