230 N Catharine St · Montour Falls, NY 14865

$44,900

3 bd · 1.5 ba · 1,464 sqft · SingleFamily public records · 19 Days on market

Built 1931 0.84 ac lot $31/sqft · 75% below area

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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 +7.1/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Amazing potential with serious upside in historic Montour Falls! Situated on a generous 0.84-acre lot, this 1,600 sq ft home is packed with potential for the right buyer. Featuring 3 bedrooms and 1 full bath, the property needs a complete renovation and is being sold as-is — bring your vision, tools, and creativity. You will be able to create a new vision while updating the kitchen, bath, flooring, choosing paint and drywall finish The opportunity here is hard to ignore: listed at just $45,000 with a current assessment of approximately $130,000. If you are looking for a great restoration project, this property offers the chance to build equity quickly. Spacious lot, solid footprin

Key facts

• Open floor plan
• Natural light
• Spacious lot

Tags

• SPACIOUS LOT
• OPEN FLOOR PLAN
• NATURAL LIGHT
• EXTERIOR SHED

Property features AI

Exterior

• Parking: No garage
• Utilities: Sewer available; Water available (public, not connected)
• Home design: Single-story; Resale property
• Construction: Vinyl siding
• Exterior features: Dirt driveway; Irregular lot; Main thoroughfare frontage

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total rooms: 6; Includes a living room
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Separate/formal living room; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#786 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety D, schools F, amenities F.
• Odessa-Montour Central School District (rural): math 41% / reading 60% proficiency, ranked #383 of 590 in NY (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($310 loan paydown + $2k appreciation (4.2% local appreciation)).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,226 (1.5% below list)

Questions for the listing agent

1. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 2.73% ✓
• Cap rate: 23.85%
• Cash-on-cash: 62.69%
• DSCR: 3.79
• GRM: 3.1

CMA / ARV

• ARV (median comp): $201,805
• List price: $44,900
• Delta: -77.75%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Owego St	0.40mi	3/1.5	1,388 (-5%)	3mo	$154,000	$111	70
402 W Broadway St	0.42mi	2/1.5 (-1)	1,440 (-2%)	10mo	$171,900	$119	64
248 Owego St	0.61mi	3/2.0	1,493 (+2%)	2mo	$182,000	$122	64
406 W Broadway St	0.42mi	3/1.5	1,586 (+8%)	3mo	$210,000	$132	64
231 Tracy St	0.28mi	3/1.0	1,320 (-10%)	8mo	$165,000	$125	62
315 Genesee St	0.70mi	3/1.0	1,460 (-0%)	13mo	$190,426	$130	54
126 N L'hommedieu St	0.65mi	3/1.5	1,400 (-4%)	17mo	$28,000	$20	48
311 E Main St	0.46mi	3/2.5	1,610 (+10%)	15mo	$199,000	$124	45

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

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.6%
• Equity multiple: 4.65×
• Total profit: $45,880
• Equity at exit: $23,184

10-year hold

• IRR: 61.2%
• Equity multiple: 9.54×
• Total profit: $107,420
• Equity at exit: $38,259

Cash invested: $12,572 (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 14865

• Home prices YoY: 1.6%
• Active inventory: 19
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $590

Break-even live

Break-even rent $477

Max offer price $44,900

Occupancy floor 47%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-03
   status $44,900 Pending 19 DOM
2. 2026-06-02
   days on market $44,900 Active 19 DOM
3. 2026-06-01
   days on market $44,900 Active 18 DOM
4. 2026-05-31
   days on market $44,900 Active 17 DOM
5. 2026-05-30
   days on market $44,900 Active 16 DOM
6. 2026-05-14
   listed $44,900 Active 191-char remark

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $14,689
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$1,022
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$1,306
• Taxable income: $6,822
• Est. tax owed @ 24.0%: −$1,637
• After-tax cash flow: $5,446/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: Odessa-Montour Central School District
• NCES district ID: 3621630
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 60% ▲ 7.00%
• Median HH income: $46,720
• Composite: 42.81/100
• National rank: #3142
• State rank: #383 of 590 in NY

Livability — Montour Falls

• Score: 63/100
• State rank: #786
• US rank: #15104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montour Falls, NY
• Population (ZIP): 2,578

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6%
• Common ancestry: Lithuanian 7% Iranian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 263.1314
• 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

2 events — show timeline

• 2026-06-02 Pending — UNYREIS
• 2026-05-14 Listed $44,900 UNYREIS

Property tax history

+13.1%/yr

Latest (2020): $2,531 · -43.8% YoY. Source: county tax records.