9127 State Route 21 · Cohocton, NY 14826

$90,000

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 22 Days on market

Built 1890 7.87 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 +27.5/30.0
• DSCR +9.7/10.0
• 1% rule +8.8/10.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Gorgeous lot in the country! Bring this old farmhouse back to its former glory. Amazing views from every window. Nearly 8 acres of beauty--Loon Lake just a few minutes away. This property is being sold AS-IS. Needs new plumbing and heating. New roof in October 2017. First floor bath, small dining room off eat-in kitchen-could be a den or bedroom, 4 bedrooms and bath upstairs. Full attic, full basement, 2-car attached garage, and a barn for all of your storage/workshop needs.

Key facts

• Hot water heater
• 7.87 acre lot
• 2 garage spots

Tags

• PRIVATE 8-ACRE RETREAT
• HOT WATER HEATER
• GORGEOUS CLEARED LAWN
• MATURE LANDSCAPE TREES
• DENSE WOODED BACKDROP
• PRIVATE HIKING AND ATV TRAILS

Property features AI

Exterior

• Parking: Attached garage with electricity; 2-car garage
• Utilities: Electricity connected (circuit breakers); Well water; Septic tank
• Home design: 2 stories; Existing structure; Resale fixer condition
• Construction: Composite siding; Vinyl siding; Asphalt architectural shingle roof; Stone and slab foundation; PEX plumbing
• Exterior features: Enclosed porch; Porch; Gravel driveway; Propane tank (leased); Barn(s); Outbuilding; Agricultural lot; Pie-shaped lot; Main thoroughfare frontage

Interior

• Kitchen: Dishwasher; Free-standing range; Oven; Refrigerator; Water purifier (owned)
• Flooring: Linoleum; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Propane heating; Forced air; Has heating
• Interior features: Bathroom rough-in; Eat-in kitchen; Separate/formal living room; Pantry; Pull-down attic stairs
• Laundry & utility: Main-level laundry; Appliances negotiable; Water softener (owned); Propane water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,097 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D+, health & safety D, amenities F.
• Wayland-Cohocton Central School District (rural): math 40% / reading 53% proficiency, ranked #446 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 19 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (5.5% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $36k; list at $90k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.38% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.60×
• Total profit: $40,292
• Equity at exit: $53,630

10-year hold

• IRR: 23.8%
• Equity multiple: 5.21×
• Total profit: $106,176
• Equity at exit: $94,809

Cash invested: $25,200 (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 14826

• Home prices YoY: 1.8%
• Active inventory: 19
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$205 /mo · $2,456/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $267

Break-even live

Break-even rent $904

Max offer price $90,000

Occupancy floor 74%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $90,000 Active 22 DOM
2. 2026-06-17
   days on market $90,000 Active 21 DOM
3. 2026-06-16
   days on market $90,000 Active 20 DOM
4. 2026-06-15
   days on market $90,000 Active 19 DOM
5. 2026-06-13
   days on market $90,000 Active 17 DOM
6. 2026-06-12
   days on market $90,000 Active 16 DOM
7. 2026-06-09
   days on market $90,000 Active 13 DOM
8. 2026-06-08
   days on market $90,000 Active 12 DOM
9. 2026-06-07
   days on market $90,000 Active 11 DOM
10. 2026-06-07
    days on market $90,000 Active 10 DOM
11. 2026-06-04
    days on market $90,000 Active 7 DOM
12. 2026-06-02
    days on market $90,000 Active 6 DOM
13. 2026-06-01
    days on market $90,000 Active 5 DOM
14. 2026-05-31
    days on market $90,000 Active 4 DOM
15. 2026-05-27
    listed $90,000 Active
16. 2019-11-04
    soldstatus $35,500
17. 2019-10-31
    soldstatus $35,500 479-char remark

    Show marketing remark (479 chars)

    Gorgeous lot in the country! Bring this old farmhouse back to its former glory. Amazing views from every window. Nearly 8 acres of beauty--Loon Lake just a few minutes away. This property is being sold AS-IS. Needs new plumbing and heating. New roof in October 2017. First floor bath, small dining room off eat-in kitchen-could be a den or bedroom, 4 bedrooms and bath upstairs. Full attic, full basement, 2-car attached garage, and a barn for all of your storage/workshop needs.

18. 2019-06-17
    listed $37,000 479-char remark

    Show marketing remark (479 chars)

    Gorgeous lot in the country! Bring this old farmhouse back to its former glory. Amazing views from every window. Nearly 8 acres of beauty--Loon Lake just a few minutes away. This property is being sold AS-IS. Needs new plumbing and heating. New roof in October 2017. First floor bath, small dining room off eat-in kitchen-could be a den or bedroom, 4 bedrooms and bath upstairs. Full attic, full basement, 2-car attached garage, and a barn for all of your storage/workshop needs.

19. 2019-04-09
    historical
20. 2018-08-19
    listed $59,900
21. 2005-09-15
    soldstatus $40,000
22. 2005-07-15
    listed $45,000
23. 2001-05-22
    soldstatus $53,000

ⓘ 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: $2,456 · $205/mo
• Projected year-2 tax: $2,456 · $205/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,903
• − Mortgage interest: −$5,041
• − Property taxes: −$2,456
• − Insurance: −$450
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$2,618
• Taxable income: $1,953
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $2,735/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: Wayland-Cohocton Central School District
• NCES district ID: 3600011
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 53% ▲ 8.00%
• Median HH income: $46,957
• Composite: 39.54/100
• National rank: #3940
• State rank: #446 of 590 in NY

Livability — Cohocton

• Score: 56/100
• State rank: #1097
• US rank: #22367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,134
• Population (ZIP): 2,134

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Iranian 4% Romanian 4% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.48%
• Current HPI: 307.2648
• 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

+69.8% since first listed

9 events — show timeline

• 2026-05-27 Listed $90,000 UNYREIS
• 2019-11-04 Sold (Public Records) $35,500 Public Records
• 2019-10-31 Sold (MLS) $35,500 UNYREIS
• 2019-06-17 Listed $37,000 UNYREIS
• 2019-04-09 Listing Removed — UNYREIS
• 2018-08-19 Listed $59,900 UNYREIS
• 2005-09-15 Sold (MLS) $40,000 UNYREIS
• 2005-07-15 Listed $45,000 UNYREIS
• 2001-05-22 Sold (Public Records) $53,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $2,456 · -11.6% YoY. Source: county tax records.