1609 Butternut Dr · Endicott, NY 13850

$235,000

2 bd · 2.0 ba · 916 sqft · SingleFamily public records · 19 Days on market

Built 1956 9,147 sqft lot Est $189k · 25% over

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Why this score? — see what drove the F 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).

• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come home to this beautifully maintained brick ranch in an established Vestal neighborhood! Brand new electrical outlets and breaker box, newer furnace, chimney inspection, and central A/C servicing done in 2023. Fantastic additional living space in the finished lower level with full bath, workshop, and utility room with laundry and massive storage closet. Attached one car garage has direct access to mud room, lower level staircase, kitchen and back yard. The third bedroom was used as a dining room but could easily be used as a bedoom once again with 2 doors and a closet already present. Outside has an amazing garden area and a covered back patio perfect for soaking in the sounds of summer and feeling the cool breeze on the hot days. Come and see it at the open house on Monday the 24th from 4-6pm or make a private appointment. Don't miss out! This house could be yours!

Key facts

• 9,147 sq ft lot
• Garage
• Built 1956

Property features AI

Finance

• Other: Property located in Parkway Sub #2

Exterior

• Parking: Attached garage (1 garage space); Additional/other parking (see remarks)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Brick and other exterior materials; Concrete perimeter foundation; Above-grade finished area and additional below-grade finished area
• Exterior features: Patio; Workshop (outbuilding); Lot features: see remarks

Interior

• Kitchen: Dishwasher; Refrigerator; Range hood
• Bedrooms: Total rooms: 10 (includes bedrooms and living spaces)
• Flooring: Concrete; Hardwood; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: See remarks (additional interior details); Living room with masonry wood-burning fireplace
• Laundry & utility: Washer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (50.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (56.6% below list).
• Recommended offer: $102k (56.6% below list) — sets the bar for 1% rule.
• Cap rate 0.3% vs local median 5.5% in Endicott — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 70/100 on livability (#438 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Vestal Central School District (suburban): math 63% / reading 68% proficiency, ranked #168 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Clayton Avenue Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 248 students, 49% FRL) — zoned schools average 49% FRL vs 17% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 90 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.
• Current owner paid $180k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,927 (56.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1956 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.43% ✗
• Cap rate: 0.29%
• Cash-on-cash: -21.45%
• DSCR: 0.05
• GRM: 19.2

CMA / ARV

• ARV (on-the-fly): $188,696
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Hoffman Ave	0.45mi	3/1.0 (+1)	864 (-6%)	7mo	$71,500	$83	55
320 Leroy Ave	0.60mi	2/1.0	800 (-13%)	10mo	$165,000	$206	38

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

Projected returns pro-forma

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

5-year hold

• IRR: -61.5%
• Equity multiple: -0.71×
• Total profit: $-112,743
• Equity at exit: $35,039

10-year hold

• IRR: —
• Equity multiple: -1.94×
• Total profit: $-193,663
• Equity at exit: $20,319

Cash invested: $65,800 (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 13850

• Home prices YoY: -33.5%
• Active inventory: 90
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$651 /mo · $7,811/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $-1,176

Break-even live

Break-even rent $2,508

Max offer price $116,517

Occupancy floor —

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Airport Rd Unit 1 Endicott, NY	2.0	1.0	1000	$1,075	$1.07	21d	1	1.24mi
404 Exchange Ave Endicott, NY	2.0	1.0	850	$1,100	$1.29	43d	1	1.37mi
120 Badger Ave Unit 7 Endicott, NY	1.0	1.0	750	$850	$1.13	21d	1	1.45mi

Listing history 14 events

1. 2026-06-19
   days on market $235,000 Active 19 DOM
2. 2026-06-18
   days on market $235,000 Active 18 DOM
3. 2026-06-17
   days on market $235,000 Active 17 DOM
4. 2026-06-16
   days on market $235,000 Active 16 DOM
5. 2026-06-15
   days on market $235,000 Active 15 DOM
6. 2026-06-14
   days on market $235,000 Active 13 DOM
7. 2026-06-13
   days on market $235,000 Active 12 DOM
8. 2026-06-10
   days on market $235,000 Active 10 DOM
9. 2026-06-09
   days on market $235,000 Active 9 DOM
10. 2026-06-08
    days on market $235,000 Active 8 DOM
11. 2026-06-07
    days on market $235,000 Active 7 DOM
12. 2026-06-02
    days on market $235,000 Active 2 DOM
13. 2026-06-01
    remarks 650-char remark
14. 2026-06-01
    listed $235,000 Active 1 DOM

ⓘ 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: $7,811 · $651/mo
• Projected year-2 tax: $7,811 · $651/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $12,231
• − Mortgage interest: −$13,164
• − Property taxes: −$7,811
• − Insurance: −$1,175
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$6,836
• Taxable loss: −$18,712
• Est. tax savings @ 24.0%: +$4,491
• After-tax cash flow: $-9,621/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: Vestal Central School District
• NCES district ID: 3629610
• Math proficiency: 63% ▼ -7.00%
• Reading proficiency: 68% ▲ 4.00%
• Median HH income: $64,143
• Composite: 56.97/100
• National rank: #1111
• State rank: #168 of 590 in NY

Livability — Endicott

• Score: 70/100
• State rank: #438
• US rank: #7657

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 42,896
• Population (ZIP): 23,675

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 12% Hispanic / Latino 5% Two or more races 5% Black 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Scotch-Irish 2% Italian 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 6% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.14%
• Current HPI: 282.4645
• 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

+38.3% since first listed

15 events — show timeline

• 2026-06-01 Listed $235,000 GBAOR
• 2026-01-20 Listed $220,000 GBAOR
• 2024-05-07 Rental Removed $1,650 GBAOR
• 2024-04-08 Listed for Rent $1,650 GBAOR
• 2024-04-05 Rental Removed $1,800 GBAOR
• 2024-01-15 Price Changed $1,800 GBAOR
• 2023-12-08 Price Changed $1,850 GBAOR
• 2023-11-09 Price Changed $1,900 GBAOR
• 2023-10-10 Sold (Public Records) $180,000 Public Records
• 2023-10-06 Listed for Rent $2,000 GBAOR
• 2023-09-27 Sold (MLS) $180,000 GBAOR
• 2023-08-25 Pending — GBAOR
• 2023-08-07 Delisted — GBAOR
• 2023-07-27 Pending — GBAOR
• 2023-07-23 Listed $169,900 GBAOR

Property tax history

+12.2%/yr

Latest (2025): $7,811 · +73.7% YoY. Source: county tax records.