131 Horstman Ln · Norwich, NY 13815

$70,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 142 Days on market

Built 2013 Good condition $55/sqft · 100% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Move-in-ready! Beautifully remodeled 16x80 Champion manufactured, double-insulated home with convenient park living not far from shopping, hospital and schools. A clean and well maintained three bedroom, two full bath home with updated appliances, house type doors, built in closets, new light fixtures, freshly painted, new laminate and vinyl flooring, upgraded 40-gallon water heater and a new range/oven with airfryer installed in Oct 2025. Primary bedroom has a private ensuite bathroom and walk-in closet. Spacious kitchen with island and new faucet. Laundry area with washer & dryer included. There is a hook up for central air and a beautiful built in wood fireplace in living room for that extra coziness on cold winter nights. There is a small fenced in yard. Instead of standard 1-foot height of setting a mobile home, seller paid extra to have the home raised an extra 3-feet to protect from weather elements and other damage causing nuisances. No need to worry about paying taxes. Lot Rent includes your Well and Septic. Garbage removal is the responsibility of tenant of the park.

Key facts

• Built in closets
• New light fixtures
• Remodeled home

Tags

• REMODELED HOME
• BUILT IN CLOSETS
• NEW LIGHT FIXTURES
• NEW LAMINATE FLOORING
• NEW VINYL FLOORING
• UPGRADED WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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; 1 comparable units currently listed for rent nearby; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.07% ✓
• Cap rate: 17.64%
• Cash-on-cash: 40.52%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $35,000
• List price: $70,000
• Delta: 100.00%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 55.7%
• Equity multiple: 5.10×
• Total profit: $80,293
• Equity at exit: $63,062

10-year hold

• IRR: 49.2%
• Equity multiple: 11.37×
• Total profit: $203,348
• Equity at exit: $135,995

Cash invested: $19,600 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $662

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 49%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Midland Dr Norwich, NY	3.0	1.0–1.5	755	$1,450	$1.92	43d	1	1.25mi

Listing history 21 events

1. 2026-06-18
   days on market $70,000 Active 142 DOM
2. 2026-06-17
   days on market $70,000 Active 141 DOM
3. 2026-06-16
   days on market $70,000 Active 140 DOM
4. 2026-06-15
   days on market $70,000 Active 139 DOM
5. 2026-06-13
   days on market $70,000 Active 137 DOM
6. 2026-06-12
   days on market $70,000 Active 136 DOM
7. 2026-06-09
   days on market $70,000 Active 133 DOM
8. 2026-06-08
   days on market $70,000 Active 132 DOM
9. 2026-06-07
   days on market $70,000 Active 131 DOM
10. 2026-06-07
    days on market $70,000 Active 130 DOM
11. 2026-06-04
    days on market $70,000 Active 127 DOM
12. 2026-06-02
    days on market $70,000 Active 126 DOM
13. 2026-06-01
    days on market $70,000 Active 125 DOM
14. 2026-05-31
    days on market $70,000 Active 124 DOM
15. 2026-01-27
    listed $70,000 Active 1099-char remark

    Show marketing remark (1099 chars)

    Move-in-ready! Beautifully remodeled 16x80 Champion manufactured, double-insulated home with convenient park living not far from shopping, hospital and schools. A clean and well maintained three bedroom, two full bath home with updated appliances, house type doors, built in closets, new light fixtures, freshly painted, new laminate and vinyl flooring, upgraded 40-gallon water heater and a new range/oven with airfryer installed in Oct 2025. Primary bedroom has a private ensuite bathroom and walk-in closet. Spacious kitchen with island and new faucet. Laundry area with washer & dryer included. There is a hook up for central air and a beautiful built in wood fireplace in living room for that extra coziness on cold winter nights. There is a small fenced in yard. Instead of standard 1-foot height of setting a mobile home, seller paid extra to have the home raised an extra 3-feet to protect from weather elements and other damage causing nuisances. No need to worry about paying taxes. Lot Rent includes your Well and Septic. Garbage removal is the responsibility of tenant of the park.

16. 2026-01-15
    historical
17. 2026-01-14
    historical
18. 2025-09-06
    status Active
19. 2025-09-06
    price $70,000
20. 2025-07-28
    status Pending
21. 2025-07-14
    listed $65,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 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: $17,400
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,036
• Taxable income: $7,259
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $6,199/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This move-in-ready, well-maintained mobile home features updated appliances, new flooring, and a fresh paint job, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Paint exterior trim and siding — Enhances curb appeal and value
• Both Replace central air conditioning unit — Improves comfort and energy efficiency
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim and siding — Enhances curb appeal and value ↑
• Both Replace central air conditioning unit — Improves comfort and energy efficiency ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

+7.7% since first listed

7 events — show timeline

• 2026-01-27 Listed $70,000 UNYREIS
• 2026-01-15 Listing Removed — UNYREIS
• 2026-01-14 Listing Removed — UNYREIS
• 2025-09-06 Relisted — UNYREIS
• 2025-09-06 Price Changed $70,000 UNYREIS
• 2025-07-28 Pending — UNYREIS
• 2025-07-14 Listed $65,000 UNYREIS