198 Owego St · Candor, NY 13743

$199,000

4 bd · 3.0 ba · 2,136 sqft · MultiFamily public records · 277 Days on market

Built 1885 0.30 ac lot $93/sqft · 44% below area Est $353k · 44% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.1/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Great opportunity to own a 3 unit property, fully rented on a great location on Route 96, convenient to Ithaca and Owego. All 3 apartments are in great condition with a one bedroom unit being fully remodeled recently. Two apartments have washer and dryer hookups. Separate electric and gas meters per unit. Plenty of parking area and a nice yard. Contact me for additional information on this property. 24 hour notice required before showings.

Key facts

• Plenty of parking
• Nice yard
• 0.3 acre lot

Tags

• ONE BEDROOM UNIT REMODELED
• WASHER AND DRYER HOOKUPS
• PLENTY OF PARKING
• NICE YARD

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $385/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#895 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Candor Central School District (rural): math 26% / reading 45% proficiency, ranked #551 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Candor Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 400 students, 46% FRL); Candor Junior-Senior High School (math 37% / reading 52%, grade F, #1,032 of 1,100 statewide, top 95%, 306 students, 60% FRL).
• Market conditions: 21 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 $14k of equity ($1k loan paydown + $12k appreciation (6.3% 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 (6.3% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% 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 1885 — 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 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?
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: 1.63% ✓
• Cap rate: 13.25%
• Cash-on-cash: 24.86%
• DSCR: 2.11
• GRM: 5.1

CMA / ARV

• ARV (median comp): $352,721
• List price: $199,000
• Delta: -43.58%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Spencer Ave	0.69mi	4/3.0	1,860 (-13%)	2mo	$85,000	$46	45

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

Projected returns pro-forma

6.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 3.41×
• Total profit: $134,154
• Equity at exit: $128,399

10-year hold

• IRR: 34.0%
• Equity multiple: 7.04×
• Total profit: $336,383
• Equity at exit: $235,748

Cash invested: $55,720 (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 13743

• Home prices YoY: 2.5%
• Active inventory: 21
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,235 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$275 /mo · $3,296/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $1,155

Break-even live

Break-even rent $1,774

Max offer price $199,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,267	-5% $1,211	+0% $1,155	+5% $1,098	+10% $1,042
Rent	-10% $899	-5% $1,027	+0% $1,155	+5% $1,282	+10% $1,410
Rate	-1.0pp $1,255	-0.5pp $1,205	base $1,155	+0.5pp $1,103	+1.0pp $1,050

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$3,234
Total (3 units)			$3,235

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $199,000 Active 277 DOM
2. 2026-06-19
   days on market $199,000 Active 275 DOM
3. 2026-06-18
   days on market $199,000 Active 274 DOM
4. 2026-06-17
   days on market $199,000 Active 273 DOM
5. 2026-06-16
   days on market $199,000 Active 272 DOM
6. 2026-06-15
   days on market $199,000 Active 271 DOM
7. 2026-06-14
   days on market $199,000 Active 269 DOM
8. 2026-06-13
   days on market $199,000 Active 268 DOM
9. 2026-06-10
   days on market $199,000 Active 266 DOM
10. 2026-06-09
    days on market $199,000 Active 265 DOM
11. 2026-06-08
    days on market $199,000 Active 264 DOM
12. 2026-06-07
    days on market $199,000 Active 263 DOM
13. 2026-06-03
    days on market $199,000 Active 259 DOM
14. 2026-06-02
    days on market $199,000 Active 258 DOM
15. 2026-06-01
    days on market $199,000 Active 257 DOM
16. 2026-05-31
    days on market $199,000 Active 256 DOM
17. 2026-05-30
    days on market $199,000 Active 255 DOM
18. 2026-05-16
    price $199,000 443-char remark

    Show marketing remark (443 chars)

    Great opportunity to own a 3 unit property, fully rented on a great location on Route 96, convenient to Ithaca and Owego. All 3 apartments are in great condition with a one bedroom unit being fully remodeled recently. Two apartments have washer and dryer hookups. Separate electric and gas meters per unit. Plenty of parking area and a nice yard. Contact me for additional information on this property. 24 hour notice required before showings.

19. 2026-03-04
    price $201,900 443-char remark

    Show marketing remark (443 chars)

    Great opportunity to own a 3 unit property, fully rented on a great location on Route 96, convenient to Ithaca and Owego. All 3 apartments are in great condition with a one bedroom unit being fully remodeled recently. Two apartments have washer and dryer hookups. Separate electric and gas meters per unit. Plenty of parking area and a nice yard. Contact me for additional information on this property. 24 hour notice required before showings.

20. 2025-09-17
    listed $209,900 Active 443-char remark

    Show marketing remark (443 chars)

    Great opportunity to own a 3 unit property, fully rented on a great location on Route 96, convenient to Ithaca and Owego. All 3 apartments are in great condition with a one bedroom unit being fully remodeled recently. Two apartments have washer and dryer hookups. Separate electric and gas meters per unit. Plenty of parking area and a nice yard. Contact me for additional information on this property. 24 hour notice required before showings.

21. 2024-09-09
    soldstatus $135,000
22. 2024-08-29
    soldstatus $135,000 Closed 505-char remark

    Show marketing remark (505 chars)

    Downtown Candor has a three-unit property waiting for a new investor. Long term tenants in the first and second floor with an additional 3rd unit that can be completed and rented for additional income or maybe complete it and have an owner occupy. Rented units are in great condition and have updates to bathrooms and kitchens. This is a great opportunity to own a property and live town life or invest in the Candor rental market. Only 20 minutes to downtown Ithaca! Call today for a private appointment.

23. 2024-07-16
    status Pending 505-char remark

    Show marketing remark (505 chars)

    Downtown Candor has a three-unit property waiting for a new investor. Long term tenants in the first and second floor with an additional 3rd unit that can be completed and rented for additional income or maybe complete it and have an owner occupy. Rented units are in great condition and have updates to bathrooms and kitchens. This is a great opportunity to own a property and live town life or invest in the Candor rental market. Only 20 minutes to downtown Ithaca! Call today for a private appointment.

24. 2024-07-09
    listed $135,000 Active 505-char remark

    Show marketing remark (505 chars)

    Downtown Candor has a three-unit property waiting for a new investor. Long term tenants in the first and second floor with an additional 3rd unit that can be completed and rented for additional income or maybe complete it and have an owner occupy. Rented units are in great condition and have updates to bathrooms and kitchens. This is a great opportunity to own a property and live town life or invest in the Candor rental market. Only 20 minutes to downtown Ithaca! Call today for a private appointment.

25. 2020-12-16
    soldstatus $72,000

ⓘ 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: $3,296 · $275/mo
• Projected year-2 tax: $3,329 · $277/mo
• Expected delta: +$34/yr (+$3/mo · 1.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $38,820
• − Mortgage interest: −$11,147
• − Property taxes: −$3,296
• − Insurance: −$995
• − Repairs & maintenance: −$3,106
• − Management: −$3,106
• − Depreciation: −$5,789
• Taxable income: $11,382
• Est. tax owed @ 24.0%: −$2,732
• After-tax cash flow: $11,123/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: Candor Central School District
• NCES district ID: 3606420
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 45% ▲ 17.00%
• Median HH income: $51,707
• Composite: 30.85/100
• National rank: #6129
• State rank: #551 of 590 in NY

Livability — Candor

• Score: 61/100
• State rank: #895
• US rank: #17419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Candor, NY
• Population (ZIP): 2,893

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 (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 4% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4%

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: ▲ 6.26%
• Current HPI: 261.1296
• 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

+176.4% since first listed

8 events — show timeline

• 2026-05-16 Price Changed $199,000 IBRMLS
• 2026-03-04 Price Changed $201,900 IBRMLS
• 2025-09-17 Listed $209,900 IBRMLS
• 2024-09-09 Sold (Public Records) $135,000 Public Records
• 2024-08-29 Sold (MLS) $135,000 GBAOR
• 2024-07-16 Pending — GBAOR
• 2024-07-09 Listed $135,000 GBAOR
• 2020-12-16 Sold (Public Records) $72,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,296 · +3.3% YoY. Source: county tax records.