4116 State Route 21 · Cohocton, NY 14572

$53,500

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 176 Days on market

Built 1870 0.52 ac lot ↓ 22% since listing

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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 +5.8/10.0
• Schools +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This three bedroom, two bath Village of Wayland property that sits on half an acre lot is all that you’ve been looking for. Pretty large eat-in kitchen, with adjoining the laundry hook-ups. Second floor you will find a spacious common area at the top of the stairs ideal for home office or gaming area. Two large bedrooms with closets. Take a look today! Why rent when you can own?? Property is sold as is.

Key facts

• 0.52 acre lot
• Built 1870
• Listed 176 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,097 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D+, health & safety D, amenities F.
• Wayland-Cohocton Central School District (rural): math 40% / reading 53% proficiency, ranked #446 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($370 loan paydown + $896 appreciation (1.7% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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. 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?
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: 2.45% ✓
• Cap rate: 21.25%
• Cash-on-cash: 53.42%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.9%
• Equity multiple: 4.02×
• Total profit: $45,284
• Equity at exit: $20,166

10-year hold

• IRR: 57.7%
• Equity multiple: 8.11×
• Total profit: $106,520
• Equity at exit: $28,338

Cash invested: $14,980 (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 14572

• Home prices YoY: 0.7%
• Active inventory: 27
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$281
• Tax est. 1.5%: −$67 /mo · $802/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $667

Break-even live

Break-even rent $468

Max offer price $53,500

Occupancy floor 44%

Sensitivity live

Price	-10% $704	-5% $685	+0% $667	+5% $648	+10% $630
Rent	-10% $563	-5% $615	+0% $667	+5% $719	+10% $771
Rate	-1.0pp $694	-0.5pp $681	base $667	+0.5pp $653	+1.0pp $639

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: $13,375
• Closing costs: $1,605
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-02-25
   status Pending
2. 2026-02-07
   price $53,500
3. 2026-01-22
   price $54,000
4. 2025-12-11
   price $56,000
5. 2025-11-10
   price $57,000
6. 2025-10-20
   price $59,000
7. 2025-10-01
   price $62,000
8. 2025-09-02
   listed $66,000 Active
9. 2008-07-29
   soldstatus $68,900

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 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: $15,746
• − Mortgage interest: −$2,997
• − Property taxes: −$802
• − Insurance: −$268
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$1,556
• Taxable income: $7,604
• Est. tax owed @ 24.0%: −$1,825
• After-tax cash flow: $6,178/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: Wayland-Cohocton Central School District
• NCES district ID: 3600011
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 53% ▲ 8.00%
• Median HH income: $46,957
• Composite: 39.54/100
• National rank: #3940
• State rank: #446 of 590 in NY

Livability — Cohocton

• Score: 56/100
• State rank: #1097
• US rank: #22367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,134
• Population (ZIP): 4,745

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Iranian 3% Romanian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.67%
• Current HPI: 258.8086
• 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

-22.4% since first listed

9 events — show timeline

• 2026-02-25 Pending — WNYREIS
• 2026-02-07 Price Changed $53,500 WNYREIS
• 2026-01-22 Price Changed $54,000 WNYREIS
• 2025-12-11 Price Changed $56,000 WNYREIS
• 2025-11-10 Price Changed $57,000 WNYREIS
• 2025-10-20 Price Changed $59,000 WNYREIS
• 2025-10-01 Price Changed $62,000 WNYREIS
• 2025-09-02 Listed $66,000 WNYREIS
• 2008-07-29 Sold (Public Records) $68,900 Public Records

Property tax history

-1.4%/yr

Latest (2025): $2,823 · -0.5% YoY. Source: county tax records.