15 Gold St · Norwich, NY 13815

$107,900

5 bd · 2.5 ba · 2,582 sqft · Townhouse public records · 34 Days on market

Built 1920 0.27 ac lot $42/sqft · 39% below area Est $177k · 39% under

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Why this score? — see what drove the A- 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 +26.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• DSCR +9.0/10.0
• 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

2 Family Home which could be easily converted back to a single family residential structure suitable for a large family. Gas Forced Hot Air Heating System. 2 water heaters and separate electric panels for up & downstairs. Large city lot in nice neighborhood, close to school, churches and shopping. Large, private yard, nicely landscaped. Two car attached garage with adjoining workshop behind the garage. Enclosed, unheated front porch, nice open side porch. Spacious downstairs with kitchen, dining, living-room, family room, 3/4 & 1/2 bath, bedroom, enclosed porch & attached garage. Upstairs, 2 bedrooms, living room, kitchen, full bath & enclosed balcony porch. A lot of house for the money !

Key facts

• Insulated workshop
• Gym area
• Fenced in backyard

Tags

• ENCLOSED FRONT PORCH
• FENCED IN BACKYARD
• INSULATED WORKSHOP
• GYM AREA
• SEPARATE ELECTRIC PANELS
• INCOME PRODUCING UNIT

Property features AI

Finance

• Other: Owner pays grounds care, heat, hot water, snow removal, trash collection and water; Rent includes gardener, heat, hot water, snow removal, trash collection and water
• Financial info: Property is a 2-unit multi-family with separate gas and electric meters for each unit; One unit currently rents for $500 (month-to-month); Other unit currently rents for $800 (month-to-month); Operating expenses include utilities

Exterior

• Parking: Two-car garage; Additional parking with two or more spaces
• Utilities: High-speed internet available; Public water (connected); Sewer connected; Electric with circuit breakers and fuses
• Home design: Two-story building; Resale property
• Construction: Wood siding; Asphalt shingle roof; Stone foundation; Existing (previously built)
• Exterior features: Partial fence; Porches (each unit has a porch)

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher (in one unit); Dining area or formal dining room
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms and one half bath (total for property); Unit breakdown: one unit has 1 full bath; the other unit has 1 full bath and 1 half bath
• Heating & cooling: Gas forced-air heating; Gas water heater
• Interior features: Storm windows with wood frames; Storage
• Laundry & utility: Laundry in-unit for one unit; Washer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath townhouse listed at $108k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 $12k of equity ($746 loan paydown + $11k 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 $30k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $70k; list at $108k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,663 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
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 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: 1.45% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 5.7

CMA / ARV

• ARV (median comp): $177,130
• List price: $107,900
• Delta: -39.08%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Rowley Ave	0.74mi	6/2.0 (+1)	2,244 (-13%)	19mo	$180,000	$80	21

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: 32.6%
• Equity multiple: 3.55×
• Total profit: $77,053
• Equity at exit: $97,205

10-year hold

• IRR: 28.2%
• Equity multiple: 8.05×
• Total profit: $212,946
• Equity at exit: $209,626

Cash invested: $30,212 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,567 medium
• Mortgage (P&I): −$566
• Tax from tax record: −$342 /mo · $4,105/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $285

Break-even live

Break-even rent $1,206

Max offer price $107,900

Occupancy floor 77%

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: $26,975
• Closing costs: $3,237
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $107,900 Active 34 DOM
2. 2026-06-17
   days on market $107,900 Active 33 DOM
3. 2026-06-16
   days on market $107,900 Active 32 DOM
4. 2026-06-15
   days on market $107,900 Active 31 DOM
5. 2026-06-13
   days on market $107,900 Active 29 DOM
6. 2026-06-12
   days on market $107,900 Active 28 DOM
7. 2026-06-09
   days on market $107,900 Active 25 DOM
8. 2026-06-08
   days on market $107,900 Active 24 DOM
9. 2026-06-07
   days on market $107,900 Active 23 DOM
10. 2026-06-07
    days on market $107,900 Active 22 DOM
11. 2026-06-04
    days on market $107,900 Active 19 DOM
12. 2026-06-02
    days on market $107,900 Active 18 DOM
13. 2026-06-01
    days on market $107,900 Active 17 DOM
14. 2026-05-31
    days on market $107,900 Active 16 DOM
15. 2026-05-15
    listed $107,900 Active 967-char remark
16. 2026-04-14
    historical
17. 2025-11-30
    status Active
18. 2025-11-12
    status Pending
19. 2025-04-20
    listed $119,500 Active
20. 2017-04-03
    soldstatus $70,000
21. 2017-03-17
    soldstatus $70,000

    Show marketing remark (721 chars)

    2 Family Home which could be easily converted back to a single family residential structure suitable for a large family. Gas Forced Hot Air Heating System. 2 water heaters and separate electric panels for up & downstairs. Large city lot in nice neighborhood, close to school, churches and shopping. Large, private yard, nicely landscaped. Two car attached garage with adjoining workshop behind the garage. Enclosed, unheated front porch, nice open side porch. Spacious downstairs with kitchen, dining, living-room, family room, 3/4 & 1/2 bath, bedroom, enclosed porch & attached garage. Upstairs, 2 bedrooms, living room, kitchen, full bath & enclosed balcony porch. A lot of house for the money !

22. 2016-08-12
    listed $70,000

    Show marketing remark (721 chars)

    2 Family Home which could be easily converted back to a single family residential structure suitable for a large family. Gas Forced Hot Air Heating System. 2 water heaters and separate electric panels for up & downstairs. Large city lot in nice neighborhood, close to school, churches and shopping. Large, private yard, nicely landscaped. Two car attached garage with adjoining workshop behind the garage. Enclosed, unheated front porch, nice open side porch. Spacious downstairs with kitchen, dining, living-room, family room, 3/4 & 1/2 bath, bedroom, enclosed porch & attached garage. Upstairs, 2 bedrooms, living room, kitchen, full bath & enclosed balcony porch. A lot of house for the money !

23. 2015-07-29
    listed $79,000

ⓘ 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: $4,105 · $342/mo
• Projected year-2 tax: $4,105 · $342/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $18,800
• − Mortgage interest: −$6,044
• − Property taxes: −$4,105
• − Insurance: −$540
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,139
• Taxable income: $1,964
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $2,946/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

+36.6% since first listed

9 events — show timeline

• 2026-05-15 Listed $107,900 UNYREIS
• 2026-04-14 Listing Removed — UNYREIS
• 2025-11-30 Relisted — UNYREIS
• 2025-11-12 Pending — UNYREIS
• 2025-04-20 Listed $119,500 UNYREIS
• 2017-04-03 Sold (Public Records) $70,000 Public Records
• 2017-03-17 Sold (MLS) $70,000 UNYREIS
• 2016-08-12 Listed $70,000 UNYREIS
• 2015-07-29 Listed $79,000 UNYREIS

Property tax history

+3.0%/yr

Latest (2025): $4,105 · +1.4% YoY. Source: county tax records.