370 Broad St · Waverly, NY 14892

$125,000

None bd · 0.5 ba · 4,500 sqft · MultiFamily · 16 Days on market

Built 1927 Poor condition 1,950 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
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

commercial 3 story building with full walkout basement. Started to remodel the 2nd floor. Great location for apartments with business on first floor.

Key facts

• 3 story building
• Remodel 2nd floor
• 1,950 sq ft lot

Tags

• 3 STORY BUILDING
• FULL WALKOUT BASEMENT
• REMODEL 2ND FLOOR
• BUSINESS ON FIRST FLOOR

Property features AI

Exterior

• Home design: Multi-family property
• Construction: Approximately 4,500 total living area (all units combined)
• Exterior features: Lot measures approximately 1,950 sq ft

What this means for you Summary

Snapshot

• This is a ?-bed/0.5-bath multifamily listed at $125k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.8% vs local median 4.6% in Waverly — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#569 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Waverly Central School District (town): math 41% / reading 46% proficiency, ranked #480 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 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 $4k of equity ($864 loan paydown + $3k appreciation (2.8% 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 (2.8% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,125 (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 1927 — 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. 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.
5. 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.
6. 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: 2.72% ✓
• Cap rate: 23.82%
• Cash-on-cash: 62.61%
• DSCR: 3.79
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 67.2%
• Equity multiple: 4.71×
• Total profit: $129,955
• Equity at exit: $54,652

10-year hold

• IRR: 66.9%
• Equity multiple: 9.62×
• Total profit: $301,549
• Equity at exit: $83,037

Cash invested: $35,000 (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 14892

• Home prices YoY: 1.2%
• Active inventory: 53
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,405 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $1,826

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,912	-5% $1,869	+0% $1,826	+5% $1,783	+10% $1,740
Rent	-10% $1,557	-5% $1,692	+0% $1,826	+5% $1,961	+10% $2,095
Rate	-1.0pp $1,889	-0.5pp $1,858	base $1,826	+0.5pp $1,794	+1.0pp $1,761

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$3,405
Total (3 units)			$3,405

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $125,000 Active 16 DOM
2. 2026-06-18
   days on market $125,000 Active 14 DOM
3. 2026-06-17
   days on market $125,000 Active 13 DOM
4. 2026-06-16
   days on market $125,000 Active 12 DOM
5. 2026-06-15
   days on market $125,000 Active 11 DOM
6. 2026-06-13
   days on market $125,000 Active 9 DOM
7. 2026-06-12
   days on market $125,000 Active 8 DOM
8. 2026-06-09
   days on market $125,000 Active 5 DOM
9. 2026-06-08
   days on market $125,000 Active 4 DOM
10. 2026-06-07
    days on market $125,000 Active 3 DOM
11. 2026-06-07
    remarks 149-char remark
12. 2026-06-07
    listed $125,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,860
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$3,269
• − Management: −$3,269
• − Depreciation: −$3,636
• Taxable income: $21,184
• Est. tax owed @ 24.0%: −$5,084
• After-tax cash flow: $16,829/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 · 3 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its roof, exterior, flooring, and interior walls, significantly impacting its current condition and value. Significant investment is needed to bring it up to a livable standard.

Repairs flagged

• Major roof — Significant wear and tear visible.
• Major exterior siding — Peeling and in need of repainting.
• Major flooring — Carpeted and in need of replacement.
• Major interior walls — Bare and show signs of wear.
• Major systems — Outdated or in need of repair, based on overall condition

Value-add opportunities

• Both painting the exterior siding — Improves curb appeal and property value.
• Both replacing the flooring — Enhances interior aesthetics and usability.
• Both repairing the roof — Ensures structural integrity and protects the property from weather damage.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear visible.	Major	$15,000–50,000
exterior siding · Peeling and in need of repainting.	Major	$15,000–50,000
flooring · Carpeted and in need of replacement.	Major	$15,000–50,000
interior walls · Bare and show signs of wear.	Major	$15,000–50,000
systems · Outdated or in need of repair, based on overall condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both painting the exterior siding — Improves curb appeal and property value. ↑
• Both replacing the flooring — Enhances interior aesthetics and usability. ↑
• Both repairing the roof — Ensures structural integrity and protects the property from weather damage. ↑

ⓘ 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: Waverly Central School District
• NCES district ID: 3630270
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▲ 8.00%
• Median HH income: $44,935
• Composite: 36.9/100
• National rank: #4544
• State rank: #480 of 590 in NY

Livability — Waverly

• Score: 67/100
• State rank: #569
• US rank: #10246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, NY
• Population (ZIP): 7,531

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1% Asian 1%
• Common ancestry: Iranian 3% Romanian 3% Italian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · German/W. Germanic 1% Tagalog/Filipino 1%

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: ▲ 2.78%
• Current HPI: 236.7714
• 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

1 event — show timeline

• 2026-06-04 Listed $125,000 ForSaleByOwner.com