9326 Deveines Rd · Croghan, NY 13620

$139,000

4 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 13 Days on market

Built 1900 1.20 ac lot Est $131k · 6% over

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +5.6/10.0
• ARV discount +4.7/15.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 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: 2 units. confirmed

Listing remarks

Located in the Hamlet of Beaver Falls, set on a generous 1.2-acre lot, this duplex offers a unique opportunity for both homeowners and investors alike. Featuring two units-one upper and one lower with identical layouts-this property provides flexibility for rental income, extended family living, or the chance to live in one unit while the other helps offset your expenses. Located within walking distance to Beaver River Central School, the setting offers everyday convenience with a sense of space. The expansive yard opens the door to future possibilities, whether you envision outdoor living, gardens, or exploring the potential for an additional building lot (buyer to verify zoning/codes). Wh

Key facts

• 1.2 acre lot
• Expansive yard
• Two units

Tags

• 1.2 ACRE LOT
• TWO UNITS
• EXPANSIVE YARD
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive. Per door: $306/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).

Location & tenants

• Location reads 60/100 on livability (#975 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Beaver River Central School District (rural): math 38% / reading 53% proficiency, ranked #458 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 110 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($961 loan paydown + $2k appreciation (1.1% local appreciation)).
• Lewis County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.45% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.86%
• DSCR: 1.84
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $130,944
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9326 Deveines Rd	0.00mi	4/2.0	2,112 (0%)	0mo	$130,000	$62	100

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

Projected returns pro-forma

1.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.09×
• Total profit: $42,508
• Equity at exit: $48,412

10-year hold

• IRR: 24.1%
• Equity multiple: 3.94×
• Total profit: $114,586
• Equity at exit: $65,083

Cash invested: $38,920 (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 13620

• Home prices YoY: 0.4%
• Active inventory: 10
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,020 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$197 /mo · $2,367/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $612

Break-even live

Break-even rent $1,246

Max offer price $139,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,020
Total (2 units)			$2,020

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-04
   status Pending
2. 2026-04-26
   historical Active Under Contract
3. 2026-04-21
   listed $139,000 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: $2,367 · $197/mo
• Projected year-2 tax: $2,367 · $197/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,240
• − Mortgage interest: −$7,786
• − Property taxes: −$2,367
• − Insurance: −$695
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$4,044
• Taxable income: $5,470
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $6,028/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: Beaver River Central School District
• NCES district ID: 3604200
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $46,542
• Composite: 38.67/100
• National rank: #4147
• State rank: #458 of 590 in NY

Livability — Croghan

• Score: 60/100
• State rank: #975
• US rank: #19036

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

• Population (ZIP): 2,150

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 26,126 people
• By 2030: 25,354 · -3.0%
• By 2040: 23,359 · -10.6%
• By 2050: 20,927 · -19.9%
• By 2075: 15,533 · -40.5%
• By 2100: 10,215 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 9% Romanian 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+44.4) · D 27.8% · R 72.2%
• 2008→2024 swing: -35.6pp toward R · 2008: -8.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+39.2 2016: R+39.6 2012: R+8.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.13%
• Current HPI: 298.2254
• 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

• 2026-05-04 Pending — CNYIS
• 2026-04-26 Contingent — CNYIS
• 2026-04-21 Listed $139,000 CNYIS

Property tax history

+2.2%/yr

Latest (2025): $2,367 · +1.8% YoY. Source: county tax records.