10540 Academy Ln · Remsen, NY 13438

$155,000

4 bd · 1.0 ba · 3,782 sqft · SingleFamily · 88 Days on market

Built 1960 0.83 ac lot $41/sqft · 58% below area

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Why this score? — see what drove the C 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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

Key facts

• Ample natural light
• Multiple offices
• Common meeting area

Tags

• GENEROUS INTERIOR SPACE
• GLEAMING HARDWOOD FLOORS
• AMPLE NATURAL LIGHT
• MULTIPLE OFFICES
• COMMON MEETING AREA
• SEPARATE ENTRY ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $73 ($879/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (6.5% below list).
• Recommended offer: $145k (6.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#957 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Remsen Central School District (rural): math 50% / reading 50% proficiency, ranked #459 of 755 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Oneida County population projected at -12% 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 $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $144,864 (6.5% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.93% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $365,305
• List price: $155,000
• Delta: -57.57%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $89,105
• Equity at exit: $139,636

10-year hold

• IRR: 22.6%
• Equity multiple: 6.96×
• Total profit: $258,773
• Equity at exit: $301,131

Cash invested: $43,400 (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 13438

• Home prices YoY: 10.1%
• Active inventory: 37
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $73

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 90%

Sensitivity live

Price	-10% $180	-5% $127	+0% $73	+5% $20	+10% $-34
Rent	-10% $-41	-5% $16	+0% $73	+5% $130	+10% $188
Rate	-1.0pp $151	-0.5pp $113	base $73	+0.5pp $33	+1.0pp $-8

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-20
   status Pending 1256-char remark

   Show marketing remark (1256 chars)

   Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

2. 2026-04-30
   status Active 1256-char remark

   Show marketing remark (1256 chars)

   Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

3. 2026-01-22
   status Pending 1256-char remark

   Show marketing remark (1256 chars)

   Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

4. 2025-12-17
   historical Active Under Contract 1256-char remark

   Show marketing remark (1256 chars)

   Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

5. 2025-11-14
   listed $155,000 Active 1256-char remark

   Show marketing remark (1256 chars)

   Former Remsen Town Office Building – Versatile Multi-Use Opportunity- A versatile property brimming with potential in the heart of Remsen. Formerly the Remsen Town Office, this two-story building offers generous interior space and flexible configuration options — ideal for multi-unit conversion, office suites, or community use. The upper level features gleaming hardwood floors throughout, two large open meeting rooms, ample natural light, and two half baths. The walkout lower level includes multiple offices, a common meeting area, and an additional half bath, all with separate entry access beneath a covered canopy. Public Water, septic recently pumped and inspected. Set on a spacious lot at the end of a quiet cul-de-sac, the property offers plenty of paved parking and easy access on both sides—one end leading directly to a public park and the other to Remsen Central School. The building’s layout lends itself perfectly to conversion into two to four residential or mixed-use units, with municipal utilities available. With solid structure, open interiors, and a prime village location, this property is an outstanding opportunity for developers, investors, or business owners seeking a creative adaptive reuse project.

ⓘ 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: $17,384
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$4,509
• Taxable loss: −$1,689
• Est. tax savings @ 24.0%: +$405
• After-tax cash flow: $1,284/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: Remsen Central School District
• NCES district ID: 3624360
• Math proficiency: 50% ▼ -5.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $50,167
• Composite: 44.82/100
• National rank: #5936
• State rank: #459 of 755 in NY

Livability — Remsen

• Score: 60/100
• State rank: #957
• US rank: #18762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,310

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 12% Lithuanian 5% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 33.60%
• Current HPI: 368.1042
• 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

5 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-04-30 Relisted — CNYIS
• 2026-01-22 Pending — CNYIS
• 2025-12-17 Contingent — CNYIS
• 2025-11-14 Listed $155,000 CNYIS