32 E Vargo Rd · Breesport, NY 14845

$335,000

2 bd · 1.5 ba · 1,040 sqft · Land public records · 5 Days on market

Built 1986 6.20 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.1/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Set on just over six acres of beautifully landscaped, park-like grounds, this impeccably maintained three-bedroom, two-bath ranch offers a rare balance of refined comfort and natural serenity. Designed for effortless living, the home showcases quality finishes throughout and is presented in true move-in ready condition. The walkout lower level adds exceptional versatility, featuring a spacious family room, an additional bedroom and full bath, and a fully equipped second kitchen—ideal for guests, extended stays, or private living quarters. Outdoors, the property unfolds as a tranquil retreat. A gentle brook winds through the landscape, complemented by a picturesque pond and mature surr

Key facts

• Landscaped grounds
• Walkout lower level
• Spacious family room

Tags

• LANDSCAPED GROUNDS
• WALKOUT LOWER LEVEL
• SPACIOUS FAMILY ROOM
• FULLY EQUIPPED SECOND KITCHEN
• PICTURESQUE POND
• WELL-APPOINTED WORKSHOP BARN

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath land listed at $335k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (64.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (57.0% below list).
• Recommended offer: $120k (64.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 61/100 on livability (#896 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B+, housing B+; Watch: health & safety D, crime F, amenities F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $120,247 (64.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.43% ✗
• Cap rate: 1.94%
• Cash-on-cash: -15.55%
• DSCR: 0.31
• GRM: 19.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -46.4%
• Equity multiple: -0.40×
• Total profit: $-131,666
• Equity at exit: $49,950

10-year hold

• IRR: -86.7%
• Equity multiple: -1.28×
• Total profit: $-214,168
• Equity at exit: $28,965

Cash invested: $93,800 (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 14845

• Home prices YoY: -24.9%
• Active inventory: 92
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$457 /mo · $5,481/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-1,216

Break-even live

Break-even rent $2,979

Max offer price $120,247

Occupancy floor —

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-22
   status Pending
2. 2026-04-21
   historical Active Under Contract
3. 2026-04-17
   listed $335,000 Active

ⓘ 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: $5,481 · $457/mo
• Projected year-2 tax: $5,571 · $464/mo
• Expected delta: +$90/yr (+$8/mo · 1.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $17,278
• − Mortgage interest: −$18,765
• − Property taxes: −$5,481
• − Insurance: −$1,675
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$9,745
• Taxable loss: −$21,153
• Est. tax savings @ 24.0%: +$5,077
• After-tax cash flow: $-9,511/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Breesport

• Score: 61/100
• State rank: #896
• US rank: #17428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,552

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.23%
• Current HPI: 247.777
• 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

3 events — show timeline

• 2026-04-22 Pending — UNYREIS
• 2026-04-21 Contingent — UNYREIS
• 2026-04-17 Listed $335,000 UNYREIS

Property tax history

+7.7%/yr

Latest (2025): $5,481 · +4.0% YoY. Source: county tax records.