19 South St · Edmeston, NY 13335

$195,000

4 bd · 2.5 ba · 2,454 sqft · MultiFamily public records · 92 Days on market

Built 1880 0.44 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.4/5.0
• 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: 2 units. confirmed

Listing remarks

Opportunity awaits with this owner-occupied or investment-ready two-family home with detached garage, ideally set on nearly a half-acre along scenic Wharton Creek in Edmeston. The nicely remodeled first-floor unit offers two bedrooms, one full bath, in-unit laundry, and a spacious kitchen, dining, and living area, plus a charming, enclosed sun porch—perfect for everyday living or entertaining. The second unit will be delivered vacant, providing an excellent opportunity for owner occupancy or rental income. This unit features recent updates, a covered rear porch and patio area, a first-floor layout with kitchen, dining, living room, and laundry, and an expansive second floor with a gen

Key facts

• Patio area
• In-unit laundry
• Enclosed sun porch

Tags

• DETACHED GARAGE
• REMODELED FIRST-FLOOR UNIT
• IN-UNIT LAUNDRY
• ENCLOSED SUN PORCH
• COVERED REAR PORCH
• PATIO AREA

Property features AI

Finance

• Financial info: Two-unit property with separate electric meters (2); Operating expenses include maintenance; Unit 1 actual rent: $1,000; Unit 2 actual rent: $900; Owner pays water; rent includes water

Exterior

• Parking: Garage (1-car); Two or more off-street spaces
• Utilities: Electricity connected; High-speed internet available; Public water connected; Septic tank
• Home design: Two-story building; Existing structure
• Construction: Frame construction with vinyl and wood siding; Metal roof; Stone foundation
• Exterior features: Patio; Propane tank (leased); River/stream access to Wharton Creek

Interior

• Kitchen: Unit 1: Oven/range, refrigerator, dining area with kitchen; Unit 2: Dishwasher, oven/range, refrigerator, dining area with kitchen
• Bedrooms: Two-bedroom units (both units are 2-bedroom)
• Flooring: Carpet; Hardwood; Laminate; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms total (each unit has 1 full bath)
• Heating & cooling: Ductless cooling and heating; Heat pump; Electric heating; Gas heating; Oil heating; Forced air; Wall furnace
• Interior features: Ceiling fan(s)
• Laundry & utility: Each unit has in-unit laundry (washer and dryer included); Propane water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive. Per door: $447/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#563 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: health & safety C-, crime F, amenities F.
• Edmeston Central School District (rural): math 60% / reading 55% proficiency, ranked #312 of 755 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 12 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (7.7% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.7% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $195k implies a 78% 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 $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.41% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.64%
• DSCR: 1.87
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 3.44×
• Total profit: $133,404
• Equity at exit: $144,077

10-year hold

• IRR: 31.3%
• Equity multiple: 7.31×
• Total profit: $344,703
• Equity at exit: $282,196

Cash invested: $54,600 (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 13335

• Home prices YoY: 2.5%
• Active inventory: 12
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,742 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$169 /mo · $2,026/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $893

Break-even live

Break-even rent $1,611

Max offer price $195,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,004	-5% $949	+0% $893	+5% $838	+10% $783
Rent	-10% $677	-5% $785	+0% $893	+5% $1,002	+10% $1,110
Rate	-1.0pp $992	-0.5pp $943	base $893	+0.5pp $843	+1.0pp $792

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,742
Total (2 units)			$2,742

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-30
   status Pending
2. 2026-02-13
   price $195,000
3. 2026-01-28
   listed $210,000 Active
4. 2025-10-28
   historical $900
5. 2025-10-11
   price $900
6. 2025-10-02
   listed $800
7. 2016-10-17
   historical
8. 2016-09-05
   listed $117,000
9. 2014-07-15
   listed $119,000
10. 2009-11-20
    soldstatus $109,500
11. 2008-04-23
    soldstatus $72,000
12. 2008-04-23
    soldstatus $72,000
13. 2006-10-26
    listed $78,000
14. 2005-07-28
    soldstatus $65,000

ⓘ 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: $2,026 · $169/mo
• Projected year-2 tax: $2,661 · $222/mo
• Expected delta: +$635/yr (+$53/mo · 31.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,904
• − Mortgage interest: −$10,923
• − Property taxes: −$2,026
• − Insurance: −$975
• − Repairs & maintenance: −$2,632
• − Management: −$2,632
• − Depreciation: −$5,673
• Taxable income: $8,042
• Est. tax owed @ 24.0%: −$1,930
• After-tax cash flow: $8,791/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: Edmeston Central School District
• NCES district ID: 3610260
• Math proficiency: 60% ▬ 0.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $52,683
• Composite: 50.98/100
• National rank: #3834
• State rank: #312 of 755 in NY

Livability — Edmeston

• Score: 68/100
• State rank: #563
• US rank: #10096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edmeston, NY
• City population: 1,388
• Population (ZIP): 1,388

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Iranian 4% Romanian 3% Polish 2%
• Foreign-born: 0%
• Languages at home: 84% English-only · German/W. Germanic 15% Spanish 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.69%
• Current HPI: 316.8229
• 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

+200.0% since first listed

14 events — show timeline

• 2026-04-30 Pending — UNYREIS
• 2026-02-13 Price Changed $195,000 UNYREIS
• 2026-01-28 Listed $210,000 UNYREIS
• 2025-10-28 Rental Removed $900 UNYREIS
• 2025-10-11 Price Changed $900 UNYREIS
• 2025-10-02 Listed for Rent $800 UNYREIS
• 2016-10-17 Listing Removed — UNYREIS
• 2016-09-05 Listed $117,000 UNYREIS
• 2014-07-15 Listed $119,000 UNYREIS
• 2009-11-20 Sold (Public Records) $109,500 Public Records
• 2008-04-23 Sold (Public Records) $72,000 Public Records
• 2008-04-23 Sold (MLS) $72,000 UNYREIS
• 2006-10-26 Listed $78,000 UNYREIS
• 2005-07-28 Sold (Public Records) $65,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $2,026 · +0.1% YoY. Source: county tax records.