3333 Fowlerville Rd · Fowlerville, NY 14592

$129,900

2 bd · 1.0 ba · 1,600 sqft · MultiFamily public records · 28 Days on market

Built 1854 Fair condition 0.42 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Schools +4.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

A rare opportunity to own a piece of history! Welcome to this truly unique property, full of character and opportunity. Once a church, this distinctive building is ready to be transformed into your vision. Set on a cobblestone foundation, the craftsmanship alone tells a story - one that's ready for its next chapter. The ground level (approx 1395 sq ft) has been thoughtfully renovated into a rustic and inviting one-bedroom apartment, ready for immediate occupancy. Upstairs, the former sanctuary (approx 1600 sq ft) has been fully gutted, offering a blank canvas for your ideas. With endless possibilities - art studio, Airbnb, apartments, home business or creative live/work space - this propert

Key facts

• 0.42 acre lot
• Built 1854
• Listed 28 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,114 in NY) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A; Watch: schools F, amenities F, commute F.
• York Central School District (rural): math 41% / reading 55% proficiency, ranked #403 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($898 loan paydown + $1k appreciation (0.9% local appreciation)).
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1854 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1854 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.28% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.83×
• Total profit: $30,274
• Equity at exit: $43,473

10-year hold

• IRR: 19.9%
• Equity multiple: 3.38×
• Total profit: $86,669
• Equity at exit: $57,104

Cash invested: $36,372 (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 14592

• Home prices YoY: 0.4%
• Active inventory: 5
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,660 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$126 /mo · $1,513/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $450

Break-even live

Break-even rent $1,090

Max offer price $129,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$841
1× unit	0	0	$819
Total (2 units)			$1,660

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-13
   status Pending
2. 2026-04-20
   historical Active Under Contract
3. 2026-04-15
   listed $129,900 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: $1,513 · $126/mo
• Projected year-2 tax: $1,854 · $154/mo
• Expected delta: +$341/yr (+$28/mo · 22.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,920
• − Mortgage interest: −$7,276
• − Property taxes: −$1,513
• − Insurance: −$650
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$3,779
• Taxable income: $3,515
• Est. tax owed @ 24.0%: −$844
• After-tax cash flow: $4,557/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.

Condition & rehab AI · 2 photos

Fair 45/100 Extensive rehab

This historic property, once a church, requires extensive repairs and maintenance to bring it up to a fair condition. Significant work is needed on the roof and exterior siding, with landscaping and fencing also in poor condition. The highest-ROI updates would be to repair and replace the roof and paint the exterior siding, as these improvements would significantly enhance the home's resale and rental value.

Repairs flagged

• Major roof — Signs of significant damage
• Major exterior siding — Peeling paint and visible damage
• Minor fencing — Needs cleaning and minor repairs

Value-add opportunities

• Both repair and replace roof — A new roof would significantly improve the home's appearance and value
• Both repair and paint exterior siding — A fresh coat of paint would enhance the home's curb appeal and value
• Both landscape and maintain exterior — A well-maintained exterior would improve the home's curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant damage	Major	$15,000–50,000
exterior siding · Peeling paint and visible damage	Major	$15,000–50,000
fencing · Needs cleaning and minor repairs	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both repair and replace roof — A new roof would significantly improve the home's appearance and value ↑
• Both repair and paint exterior siding — A fresh coat of paint would enhance the home's curb appeal and value ↑
• Both landscape and maintain exterior — A well-maintained exterior would improve the home's curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: York Central School District
• NCES district ID: 3631950
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $58,572
• Composite: 41.9/100
• National rank: #3366
• State rank: #403 of 590 in NY

Livability — Fowlerville

• Score: 56/100
• State rank: #1114
• US rank: #22859

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fowlerville, NY
• Population (ZIP): 119

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 63,466 people
• By 2030: 61,966 · -2.4%
• By 2040: 58,398 · -8.0%
• By 2050: 54,955 · -13.4%
• By 2075: 49,958 · -21.3%
• By 2100: 43,944 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 5%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+21.4) · D 39.3% · R 60.7%
• 2008→2024 swing: -13.6pp toward R · 2008: -7.9pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+18.2 2016: R+27.8 2012: R+9.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.87%
• Current HPI: 226.1541
• 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

• 2026-05-13 Pending — UNYREIS
• 2026-04-20 Contingent — UNYREIS
• 2026-04-15 Listed $129,900 UNYREIS

Property tax history

+2.8%/yr

Latest (2025): $1,513 · +5.9% YoY. Source: county tax records.