50 Grove St · Moravia, NY 13118

$179,900

4 bd · 1.0 ba · 1,824 sqft · SingleFamily public records · 208 Days on market

Built 1850 0.33 ac lot Est $173k · at est. ↓ 21% since listing

---

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 +27.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.6/10.0
• 1% rule +9.4/10.0
• ARV discount +5.8/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this charming 3-bedroom, 2-bathroom home on a quiet side street in the picturesque village of Moravia, NY. Enter through a beautiful front porch into a cozy sitting room that flows into an elegant dining room. The first floor features a full bathroom with convenient laundry, a bright open kitchen leading to a large lovely back sitting room with an entryway, and a cozy screened-in side porch. Upstairs, find a comfortable bedroom with a private en suite, two additional bedrooms, and large closets for ample storage. Relax on the inviting covered patio and enjoy the large backyard in this serene setting. Schedule a showing today to make this Moravia gem your forever home! Offer rev

Key facts

• Private en suite
• Full bathroom
• Front porch

Tags

• FRONT PORCH
• FULL BATHROOM
• BRIGHT OPEN KITCHEN
• PRIVATE EN SUITE
• LARGE CLOSETS
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $64 ($764/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.7% in Moravia — 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 72/100 on livability (#357 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Moravia Central School District (rural): math 42% / reading 56% proficiency, ranked #391 of 590 in NY (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Cayuga County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $49k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $460/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $173,280
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Grove St	0.00mi	3/2.0 (-1)	1,824 (0%)	0mo	$183,000	$100	91
52 Central St	0.22mi	3/2.0 (-1)	1,832 (+0%)	3mo	$85,000	$46	78
23 W Cayuga St	0.28mi	3/2.0 (-1)	1,860 (+2%)	4mo	$177,319	$95	71
16 School St	0.11mi	3/1.5 (-1)	1,716 (-6%)	10mo	$95,000	$55	70
32 Grove St	0.12mi	3/2.0 (-1)	1,766 (-3%)	16mo	$198,650	$112	66
4 Congress St	0.22mi	3/1.5 (-1)	1,764 (-3%)	19mo	$130,000	$74	61
1888 State Route 38a	0.54mi	3/2.0 (-1)	1,863 (+2%)	5mo	$255,000	$137	58
11 Park St	0.43mi	3/1.0 (-1)	1,638 (-10%)	17mo	$68,203	$42	44
194 N Main St	0.51mi	4/1.0	2,094 (+15%)	16mo	$91,350	$44	38
44 Church St	0.44mi	3/1.5 (-1)	1,566 (-14%)	21mo	$217,300	$139	31

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.04×
• Total profit: $102,527
• Equity at exit: $162,068

10-year hold

• IRR: 22.5%
• Equity multiple: 6.95×
• Total profit: $299,713
• Equity at exit: $349,506

Cash invested: $50,372 (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 13118

• Home prices YoY: 29.3%
• Active inventory: 28
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,588 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$502 /mo · $6,022/yr
• Insurance: −$75
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $64

Break-even live

Break-even rent $2,507

Max offer price $179,900

Occupancy floor 93%

Sensitivity live

Price	-10% $166	-5% $115	+0% $64	+5% $13	+10% $-38
Rent	-10% $-141	-5% $-39	+0% $64	+5% $166	+10% $268
Rate	-1.0pp $154	-0.5pp $109	base $64	+0.5pp $17	+1.0pp $-30

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-21
   status Pending
2. 2026-03-10
   historical Active Under Contract
3. 2026-03-10
   status Pending
4. 2026-02-27
   status Active
5. 2026-02-27
   price $179,900
6. 2025-09-29
   price $199,900
7. 2025-08-11
   price $219,900
8. 2025-05-30
   listed $229,000 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: $6,022 · $502/mo
• Projected year-2 tax: $6,022 · $502/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 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $31,053
• − Mortgage interest: −$10,077
• − Property taxes: −$6,022
• − Insurance: −$6,424
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − Depreciation: −$5,233
• Taxable loss: −$1,673
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $1,166/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: Moravia Central School District
• NCES district ID: 3619800
• Math proficiency: 42% ▼ -2.00%
• Reading proficiency: 56% ▲ 9.00%
• Median HH income: $55,991
• Composite: 42.47/100
• National rank: #3215
• State rank: #391 of 590 in NY

Livability — Moravia

• Score: 72/100
• State rank: #357
• US rank: #6025

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moravia, NY
• Population (ZIP): 5,514

Population outlook (Cayuga County) Hauer SSP2

• Today (2025): 74,820 people
• By 2030: 72,402 · -3.2%
• By 2040: 66,917 · -10.6%
• By 2050: 61,007 · -18.5%
• By 2075: 48,047 · -35.8%
• By 2100: 34,512 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cayuga

• 2024 margin: R (+13.0) · D 43.5% · R 56.5%
• 2008→2024 swing: -21.5pp toward R · 2008: 8.5pp · 2024: -13.0pp
• All cycles: 2024: R+13.0 2020: R+9.2 2016: R+13.2 2012: D+10.8 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 82.97%
• Current HPI: 366.5746
• 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

-21.4% since first listed

8 events — show timeline

• 2026-03-21 Pending — UNYREIS
• 2026-03-10 Contingent — UNYREIS
• 2026-03-10 Pending — UNYREIS
• 2026-02-27 Relisted — UNYREIS
• 2026-02-27 Price Changed $179,900 UNYREIS
• 2025-09-29 Price Changed $199,900 UNYREIS
• 2025-08-11 Price Changed $219,900 UNYREIS
• 2025-05-30 Listed $229,000 UNYREIS

Property tax history

+5.8%/yr

Latest (2025): $6,022 · +5.7% YoY. Source: county tax records.