5-7 Wheeler St · Deposit, NY 13754

$139,888

4 bd · 2.0 ba · 2,120 sqft · MultiFamily · 175 Days on market

Built 1963 10,019 sqft lot $66/sqft · 31% below area Est $203k · 31% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• Schools +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

Key facts

• 0.23 acre lot
• 8 parking spots
• Built 1963

🏷️ Possibly a rental listed for sale. The $139,888 price doesn't fit this home's estimated sale value (~$202,787) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 3.8% in Deposit — 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 67/100 on livability (#616 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Deposit Central School District (rural): math 58% / reading 49% proficiency, ranked #417 of 755 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($967 loan paydown + $8k appreciation (5.9% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $56k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,101 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.78% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.68%
• DSCR: 2.28
• GRM: 4.7

CMA / ARV

• ARV (median comp): $202,787
• List price: $139,888
• Delta: -31.02%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.6%
• Equity multiple: 3.54×
• Total profit: $99,506
• Equity at exit: $87,319

10-year hold

• IRR: 36.9%
• Equity multiple: 7.29×
• Total profit: $246,321
• Equity at exit: $157,816

Cash invested: $39,169 (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 13754

• Home prices YoY: 2.2%
• Active inventory: 31
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,496 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$244 /mo · $2,926/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $936

Break-even live

Break-even rent $1,311

Max offer price $139,888

Occupancy floor 57%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,496
Total (2 units)			$2,496

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: $34,972
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-09
   days on market $139,888 Active 175 DOM
2. 2026-06-08
   days on market $139,888 Active 174 DOM
3. 2026-06-07
   days on market $139,888 Active 173 DOM
4. 2026-06-07
   days on market $139,888 Active 172 DOM
5. 2026-06-04
   days on market $139,888 Active 169 DOM
6. 2026-06-02
   days on market $139,888 Active 168 DOM
7. 2026-06-01
   days on market $139,888 Active 167 DOM
8. 2026-05-31
   days on market $139,888 Active 166 DOM
9. 2026-04-19
   historical
10. 2026-04-19
    historical
11. 2026-04-13
    price $139,888 371-char remark

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

12. 2026-04-13
    price $139,888

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

13. 2026-02-15
    price $149,888

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

14. 2026-02-15
    price $149,888 371-char remark

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

15. 2026-01-18
    price $169,888

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

16. 2026-01-18
    price $169,888 371-char remark

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

17. 2025-12-16
    listed $195,888 Active

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

18. 2025-12-16
    listed $195,888 Active 371-char remark

    Show marketing remark (371 chars)

    DELIVERED VACANT....2100 SQ. FT. DUPLAX WITH 4 BEDS AND 2 BATHS. Great duplex investment opportunity OR Owner-occupy! Two rental incomes or live for pennies on the dollar, and have the tenant cover most of the cost of living expenses: separate utilities, town water, and sewer. Both furnaces were serviced recently. The roof is 7 years old. public water and public sewer.

19. 2017-10-16
    listed $85,000
20. 2003-09-05
    soldstatus $65,000
21. 1997-11-19
    soldstatus $55,000

ⓘ 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: $2,926 · $244/mo
• Projected year-2 tax: $2,926 · $244/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 10/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 19 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: $29,952
• − Mortgage interest: −$7,836
• − Property taxes: −$2,926
• − Insurance: −$699
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$4,069
• Taxable income: $9,628
• Est. tax owed @ 24.0%: −$2,311
• After-tax cash flow: $8,922/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: Deposit Central School District
• NCES district ID: 3609060
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $40,214
• Composite: 46.65/100
• National rank: #5268
• State rank: #417 of 755 in NY

Livability — Deposit

• Score: 67/100
• State rank: #616
• US rank: #11200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deposit, NY
• Population (ZIP): 2,793

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 274.797
• 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

+154.3% since first listed

13 events — show timeline

• 2026-04-19 Listing Removed — UNYREIS
• 2026-04-19 Listing Removed — UNYREIS
• 2026-04-13 Price Changed $139,888 OneKey® MLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $139,888 UNYREIS
• 2026-02-15 Price Changed $149,888 UNYREIS
• 2026-02-15 Price Changed $149,888 OneKey® MLS as Distributed by MLS Grid
• 2026-01-18 Price Changed $169,888 UNYREIS
• 2026-01-18 Price Changed $169,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Listed $195,888 OneKey® MLS as Distributed by MLS Grid
• 2025-12-16 Listed $195,888 UNYREIS
• 2017-10-16 Listed $85,000 GBAOR
• 2003-09-05 Sold (Public Records) $65,000 Public Records
• 1997-11-19 Sold (Public Records) $55,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,926 · -2.6% YoY. Source: county tax records.