7 Park St · Norwich, NY 13815

$59,900

3 bd · 1.5 ba · 2,258 sqft · SingleFamily public records · 16 Days on market

Built 1905 6,534 sqft lot ↓ 9% since listing

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rocking chair front porch welcomes you and your guests to this spacious 4 bedroom Dutch Colonial with large foyer with beautiful stairway with original woodwork intact. Dining room with alcove windows and window seat. Eat-in kitchen, 1st floor laundry and plenty of storage. This home is waiting for your personal touch!

Key facts

• Wood trim
• Front and backyard
• Stone foundation

Tags

• WOOD TRIM
• ARC TOP WALL
• FRONT AND BACKYARD
• DETACHED GARAGE
• STONE FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 4.1% in Norwich — 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 70/100 on livability (#447 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Norwich City School District (town): math 42% / reading 43% proficiency, ranked #498 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k 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 ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1905 — 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 $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
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 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: 2.44% ✓
• Cap rate: 21.17%
• Cash-on-cash: 53.14%
• DSCR: 3.36
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $153,544
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Gold St	0.27mi	4/1.5 (+1)	2,026 (-10%)	2mo	$157,950	$78	64
20 Westcott St	0.36mi	3/2.0	2,332 (+3%)	22mo	$157,920	$68	58
39 Birdsall St	0.37mi	4/1.0 (+1)	2,268 (+0%)	23mo	$135,000	$60	56
12 Rexford St	0.58mi	4/2.0 (+1)	2,037 (-10%)	1mo	$125,000	$61	49

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: 39.5%
• Equity multiple: 4.04×
• Total profit: $50,911
• Equity at exit: $53,963

10-year hold

• IRR: 34.2%
• Equity multiple: 9.13×
• Total profit: $136,390
• Equity at exit: $116,373

Cash invested: $16,772 (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 13815

• Home prices YoY: 8.2%
• Active inventory: 84
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,464 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $282

Break-even live

Break-even rent $1,107

Max offer price $59,900

Occupancy floor 76%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-27
   status Pending
2. 2026-03-10
   listed $59,900 Active
3. 2006-01-12
   soldstatus $73,000
4. 2005-12-15
   soldstatus $73,000 320-char remark

   Show marketing remark (320 chars)

   Rocking chair front porch welcomes you and your guests to this spacious 4 bedroom Dutch Colonial with large foyer with beautiful stairway with original woodwork intact. Dining room with alcove windows and window seat. Eat-in kitchen, 1st floor laundry and plenty of storage. This home is waiting for your personal touch!

5. 2005-05-09
   listed $79,900 320-char remark

   Show marketing remark (320 chars)

   Rocking chair front porch welcomes you and your guests to this spacious 4 bedroom Dutch Colonial with large foyer with beautiful stairway with original woodwork intact. Dining room with alcove windows and window seat. Eat-in kitchen, 1st floor laundry and plenty of storage. This home is waiting for your personal touch!

6. 1998-03-16
   soldstatus $66,000

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,571
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$5,824
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$1,743
• Taxable income: $2,938
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $2,683/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: Norwich City School District
• NCES district ID: 3621330
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $40,687
• Composite: 35.68/100
• National rank: #4874
• State rank: #498 of 590 in NY

Livability — Norwich

• Score: 70/100
• State rank: #447
• US rank: #7857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, NY
• City population: 12,855
• Population (ZIP): 12,855

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 0%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.23%
• Current HPI: 280.463
• 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

-9.2% since first listed

6 events — show timeline

• 2026-03-27 Pending — Global MLS
• 2026-03-10 Listed $59,900 Global MLS
• 2006-01-12 Sold (Public Records) $73,000 Public Records
• 2005-12-15 Sold (MLS) $73,000 UNYREIS
• 2005-05-09 Listed $79,900 UNYREIS
• 1998-03-16 Sold (Public Records) $66,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $4,300 · +2.1% YoY. Source: county tax records.