112 Walker St · Montour Falls, NY 14865

$49,000

4 bd · 2.0 ba · 2,872 sqft · MultiFamily public records · 19 Days on market

Built 1848 Poor condition 0.36 ac lot

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Why this score? — see what drove the B+ 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
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor and contractor opportunity in the Village of Montour Falls. This 1848-built two-family home sits on a 0.36-acre village lot with municipal water, sewer, gas, and electric already in place. The structure requires complete renovation or removal. Whether you rehab, reconfigure into a single-family home, or clear the site and build new, the infrastructure and lot size make this a viable project. Estate sale, sold strictly as-is. Seller makes no representations regarding condition.

Key facts

• 0.36-acre lot
• Municipal water
• Complete renovation

Tags

• TWO-FAMILY HOME
• 0.36-ACRE LOT
• MUNICIPAL WATER
• MUNICIPAL SEWER
• GAS AND ELECTRIC IN PLACE
• COMPLETE RENOVATION

Property features AI

Finance

• Other: Property contains 2 total units; 2 separate gas meters
• Financial info: Operating expenses: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: Common unpaved parking
• Utilities: Public water connected; Sewer connected; Electric connected (separate meters for units)
• Home design: 2-story building; Existing construction
• Construction: Fiber cement exterior; 2 total stories
• Exterior features: Rectangular lot (109 x 132); Lot approximately 0.36 acres; Unpaved common parking

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 full bathroom (total of 2 full bathrooms)
• Heating & cooling: Gas heating (details: see remarks)
• Interior features: Crawl space basement; Resale condition
• Laundry & utility: Gas water heater; Each unit has separate gas and electric meters

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $49k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#786 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety D, schools F, amenities F.
• Odessa-Montour Central School District (rural): math 41% / reading 60% proficiency, ranked #383 of 590 in NY (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($339 loan paydown + $2k appreciation (4.2% local appreciation)).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1848 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,265 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1848 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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 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: 2.75% ✓
• Cap rate: 24.04%
• Cash-on-cash: 63.37%
• DSCR: 3.82
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.8%
• Equity multiple: 4.71×
• Total profit: $50,953
• Equity at exit: $25,301

10-year hold

• IRR: 62.3%
• Equity multiple: 9.68×
• Total profit: $119,126
• Equity at exit: $41,752

Cash invested: $13,720 (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 14865

• Home prices YoY: 1.6%
• Active inventory: 19
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $658

Break-even live

Break-even rent $513

Max offer price $49,000

Occupancy floor 46%

Sensitivity live

Price	-10% $692	-5% $675	+0% $658	+5% $641	+10% $624
Rent	-10% $552	-5% $605	+0% $658	+5% $711	+10% $764
Rate	-1.0pp $683	-0.5pp $671	base $658	+0.5pp $645	+1.0pp $633

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $49,000 Active 19 DOM
2. 2026-06-19
   days on market $49,000 Active 17 DOM
3. 2026-06-18
   days on market $49,000 Active 16 DOM
4. 2026-06-17
   days on market $49,000 Active 15 DOM
5. 2026-06-16
   days on market $49,000 Active 14 DOM
6. 2026-06-15
   days on market $49,000 Active 13 DOM
7. 2026-06-14
   days on market $49,000 Active 11 DOM
8. 2026-06-13
   days on market $49,000 Active 10 DOM
9. 2026-06-10
   days on market $49,000 Active 8 DOM
10. 2026-06-09
    days on market $49,000 Active 7 DOM
11. 2026-06-08
    days on market $49,000 Active 6 DOM
12. 2026-06-07
    days on market $49,000 Active 5 DOM
13. 2026-06-05
    days on market $49,000 Active 2 DOM
14. 2026-06-03
    remarks 490-char remark
15. 2026-06-03
    listed $49,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $16,150
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$1,042
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$1,425
• Taxable income: $7,618
• Est. tax owed @ 24.0%: −$1,828
• After-tax cash flow: $6,069/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 · 2 photos

Poor 20/100 Gut rehab

This two-family home requires extensive renovation, including major repairs to the exterior and roof, and significant landscaping improvements. Fresh paint and well-maintained landscaping would significantly boost its resale and rental value.

Repairs flagged

• Major exterior paint — Peeling paint
• Major landscaping — Overgrown vegetation
• Major roof — No visible roof condition

Value-add opportunities

• Both exterior paint — Fresh paint would improve curb appeal and property value
• Both landscaping — Well-maintained landscaping would enhance curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Peeling paint	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
roof · No visible roof condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior paint — Fresh paint would improve curb appeal and property value ↑
• Both landscaping — Well-maintained landscaping would enhance curb appeal and property value ↑

ⓘ 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: Odessa-Montour Central School District
• NCES district ID: 3621630
• Math proficiency: 41% ▼ -8.00%
• Reading proficiency: 60% ▲ 7.00%
• Median HH income: $46,720
• Composite: 42.81/100
• National rank: #3142
• State rank: #383 of 590 in NY

Livability — Montour Falls

• Score: 63/100
• State rank: #786
• US rank: #15104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montour Falls, NY
• Population (ZIP): 2,578

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6%
• Common ancestry: Lithuanian 7% Iranian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 263.1314
• 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

1 event — show timeline

• 2026-06-02 Listed $49,000 UNYREIS

Property tax history

+45.8%/yr

Latest (2025): $3,050 · +25.6% YoY. Source: county tax records.