100 Main St · Theresa, NY 13691

$249,000

28 bd · 16.0 ba · 4,590 sqft · MultiFamily public records · 54 Days on market

Built 1850 7,770 sqft lot

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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
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

Newly renovated 4-family house on a large corner lot in Theresa. This house underwent a full interior and exterior renovation in 2024 at a cost of $148,500. There are three 2-bedroom apartments and a 1-bedroom all returning excellent market rate rents. The tenants pay all utilities except for sewer and water. Thee is a coin-op laundry available for the tenants, which provides additional income. Tenants do not have access to the shed. Gross rents are $42,300 and the property generates excellent cash flow and return on investment after expenses. This is also an excellent opportunity for an owner-occupant who wants to live in one of the apartments and have the rents from the other

Key facts

• Large corner lot
• Coin-op laundry
• 7,770 sq ft lot

Tags

• LARGE CORNER LOT
• COIN-OP LAUNDRY

Property features AI

Finance

• Financial info: Owner pays grounds care and water; Some rent includes gardener and water; Operating expenses include maintenance, professional management, and water/sewer; Property configured as four rental units with separate rents (examples: $950, $900, $850, $825) and five separate electric meters

Exterior

• Parking: Gravel and paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electric
• Home design: 2-story multi-unit property; Existing construction
• Construction: Vinyl siding; Membrane (rubber) roof; Stone foundation; Copper and PEX plumbing
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Kitchen: Oven/Range in each unit; Refrigerator in each unit; Microwave in select units; Dishwasher in one unit; Eat-in kitchen or dining area in units
• Bedrooms: Four rental units: three 2-bedroom units and one 1-bedroom unit
• Flooring: Laminate and varied flooring
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Electric baseboard heating
• Interior features: Ceiling fans; Pull-down attic stairs
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1ba units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $422/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#693 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: employment D, health & safety D, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.6% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y ago; this cycle's ask is 24800% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $54k; list at $249k implies a 361% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% 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 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.67% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.08%
• DSCR: 2.29
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.4%
• Equity multiple: 3.50×
• Total profit: $173,957
• Equity at exit: $150,669

10-year hold

• IRR: 36.9%
• Equity multiple: 7.15×
• Total profit: $428,991
• Equity at exit: $268,309

Cash invested: $69,720 (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 13691

• Home prices YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $4,155 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$184 /mo · $2,203/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$873
• Net cashflow: $1,689

Break-even live

Break-even rent $2,017

Max offer price $249,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,132
1× unit	1	1	$1,021
Total (4 units)			$4,155

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-19
   days on market $249,000 Active 54 DOM
2. 2026-06-18
   days on market $249,000 Active 53 DOM
3. 2026-06-17
   days on market $249,000 Active 52 DOM
4. 2026-06-16
   days on market $249,000 Active 51 DOM
5. 2026-06-15
   days on market $249,000 Active 50 DOM
6. 2026-06-14
   days on market $249,000 Active 48 DOM
7. 2026-06-12
   days on market $249,000 Active 47 DOM
8. 2026-06-09
   days on market $249,000 Active 44 DOM
9. 2026-06-08
   days on market $249,000 Active 43 DOM
10. 2026-06-07
    days on market $249,000 Active 42 DOM
11. 2026-06-05
    days on market $249,000 Active 39 DOM
12. 2026-06-03
    days on market $249,000 Active 38 DOM
13. 2026-06-02
    days on market $249,000 Active 37 DOM
14. 2026-06-01
    days on market $249,000 Active 36 DOM
15. 2026-05-31
    days on market $249,000 Active 35 DOM
16. 2026-05-30
    days on market $249,000 Active 34 DOM
17. 2026-05-19
    listed $1,000
18. 2026-04-26
    listed $249,000 Active
19. 2026-04-20
    historical
20. 2026-04-17
    historical
21. 2026-04-17
    price $249,000
22. 2025-11-23
    historical
23. 2025-11-21
    historical
24. 2025-11-21
    historical
25. 2025-09-11
    historical
26. 2025-09-03
    listed $2,050,000 Active
27. 2025-09-03
    listed $700,000 Active
28. 2025-01-16
    historical $900
29. 2025-01-11
    listed $900
30. 2024-08-18
    historical $875
31. 2024-08-17
    listed $875
32. 2024-07-19
    historical $875
33. 2024-07-19
    listed $875
34. 2024-03-13
    historical $750
35. 2024-03-13
    historical $750
36. 2024-03-13
    listed $750
37. 2024-03-13
    listed
38. 2023-09-22
    historical
39. 2015-10-09
    soldstatus $54,000
40. 2014-12-22
    listed $54,000
41. 2014-03-23
    historical
42. 2013-09-27
    listed $155,000
43. 2010-06-18
    soldstatus $105,000
44. 2010-06-18
    soldstatus $105,000
45. 2010-04-22
    listed $110,000
46. 2008-01-11
    soldstatus $98,900
47. 2007-10-29
    listed $96,900

ⓘ 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: $2,203 · $184/mo
• Projected year-2 tax: $3,206 · $267/mo
• Expected delta: +$1,002/yr (+$84/mo · 45.5%)

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,860
• − Mortgage interest: −$13,948
• − Property taxes: −$2,203
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,989
• − Management: −$3,989
• − Depreciation: −$7,244
• Taxable income: $17,242
• Est. tax owed @ 24.0%: −$4,138
• After-tax cash flow: $16,133/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: Indian River Central School District
• NCES district ID: 3615300
• Math proficiency: 33% ▼ -21.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $45,599
• Composite: 35.25/100
• National rank: #4977
• State rank: #502 of 590 in NY

Livability — Theresa

• Score: 65/100
• State rank: #693
• US rank: #13103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Theresa, NY
• Population (ZIP): 3,172

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 12% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 2% Romanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.63%
• Current HPI: 459.7016
• 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

-99.0% since first listed

31 events — show timeline

• 2026-05-19 Listed for Rent $1,000 CNYIS
• 2026-04-26 Listed $249,000 CNYIS
• 2026-04-20 Listing Removed — CNYIS
• 2026-04-17 Listing Removed — CNYIS
• 2026-04-17 Price Changed $249,000 CNYIS
• 2025-11-23 Listing Removed — CNYIS
• 2025-11-21 Listing Removed — CNYIS
• 2025-11-21 Listing Removed — CNYIS
• 2025-09-11 Listing Removed — CNYIS
• 2025-09-03 Listed $700,000 CNYIS
• 2025-09-03 Listed $2,050,000 CNYIS
• 2025-01-16 Rental Removed $900 NYSAMLS
• 2025-01-11 Listed for Rent $900 NYSAMLS
• 2024-08-18 Rental Removed $875 APPFOLIO
• 2024-08-17 Listed for Rent $875 APPFOLIO
• 2024-07-19 Rental Removed $875 APPFOLIO
• 2024-07-19 Listed for Rent $875 APPFOLIO
• 2024-03-13 Rental Removed $750 APPFOLIO
• 2024-03-13 Rental Removed $750 APPFOLIO
• 2024-03-13 Listed for Rent $750 APPFOLIO
• 2024-03-13 Listed for Rent — APPFOLIO
• 2023-09-22 Rental Removed — APPFOLIO
• 2015-10-09 Sold (MLS) $54,000 CNYIS
• 2014-12-22 Listed $54,000 CNYIS
• 2014-03-23 Listing Removed — CNYIS
• 2013-09-27 Listed $155,000 CNYIS
• 2010-06-18 Sold (Public Records) $105,000 Public Records
• 2010-06-18 Sold (MLS) $105,000 CNYIS
• 2010-04-22 Listed $110,000 CNYIS
• 2008-01-11 Sold (MLS) $98,900 CNYIS
• 2007-10-29 Listed $96,900 CNYIS

Property tax history

+0.4%/yr

Latest (2025): $2,203 · +0.3% YoY. Source: county tax records.