3 Center St · Deposit, NY 13754

$170,000

5 bd · 2.0 ba · 1,750 sqft · MultiFamily public records · 212 Days on market

Built 1889 0.34 ac lot $97/sqft · at area comps Est $163k · at est.

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Appreciation +8.0/10.0
• ARV discount +5.5/15.0
• 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

Discover this well-kept, charming two-family home nestled on a quiet street in the heart of the Village of Deposit, directly across a large open space. This property features beautiful hardwood floors throughout and has been meticulously maintained both inside and out. An excellent investment opportunity, this fully leased property comes with reliable, respectful tenants and a professional property manager already in place—making it one of the easiest investments you’ll ever make. The home offers steady income potential and peace of mind, with every detail cared for and consistent rental performance. Don’t miss your chance to own this turnkey investment in a picturesque small-town setting!

Key facts

• Quiet street
• Two-family home
• Large open space

Tags

• TWO-FAMILY HOME
• QUIET STREET
• LARGE OPEN SPACE
• HARDWOOD FLOORS
• FULLY LEASED PROPERTY
• STEADY INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive. Per door: $303/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.9% local appreciation)).
• Broome County population projected at -13% 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 $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($150k) 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.
• Current owner paid $60k; list at $170k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 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 1889 — 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: 1.36% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.28%
• DSCR: 1.68
• GRM: 6.1

CMA / ARV

• ARV (median comp): $162,689
• List price: $170,000
• Delta: 4.49%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.0%
• Equity multiple: 2.83×
• Total profit: $87,040
• Equity at exit: $106,115

10-year hold

• IRR: 26.2%
• Equity multiple: 5.75×
• Total profit: $226,098
• Equity at exit: $191,787

Cash invested: $47,600 (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 13754

• Home prices YoY: 2.2%
• Active inventory: 31
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,305 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$252 /mo · $3,030/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $606

Break-even live

Break-even rent $1,538

Max offer price $170,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,304
Total (2 units)			$2,305

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $170,000 Active 212 DOM
2. 2026-06-17
   days on market $170,000 Active 211 DOM
3. 2026-06-16
   days on market $170,000 Active 210 DOM
4. 2026-06-15
   days on market $170,000 Active 209 DOM
5. 2026-06-13
   days on market $170,000 Active 207 DOM
6. 2026-06-12
   days on market $170,000 Active 206 DOM
7. 2026-06-09
   days on market $170,000 Active 203 DOM
8. 2026-06-08
   days on market $170,000 Active 202 DOM
9. 2026-06-07
   days on market $170,000 Active 201 DOM
10. 2026-06-07
    days on market $170,000 Active 200 DOM
11. 2026-06-04
    days on market $170,000 Active 197 DOM
12. 2026-06-02
    days on market $170,000 Active 196 DOM
13. 2026-06-01
    days on market $170,000 Active 195 DOM
14. 2026-05-31
    days on market $170,000 Active 194 DOM
15. 2025-11-18
    listed $170,000 Active 716-char remark

    Show marketing remark (716 chars)

    Discover this well-kept, charming two-family home nestled on a quiet street in the heart of the Village of Deposit, directly across a large open space. This property features beautiful hardwood floors throughout and has been meticulously maintained both inside and out. An excellent investment opportunity, this fully leased property comes with reliable, respectful tenants and a professional property manager already in place—making it one of the easiest investments you’ll ever make. The home offers steady income potential and peace of mind, with every detail cared for and consistent rental performance. Don’t miss your chance to own this turnkey investment in a picturesque small-town setting!

16. 2025-11-12
    listed $170,000 Active 718-char remark

    Show marketing remark (718 chars)

    Discover this well-kept, charming two-family home nestled on a quiet street in the heart of the Village of Deposit, directly across a large open space. This property features beautiful hardwood floors throughout and has been meticulously maintained both inside and out. An excellent investment opportunity, this fully leased property comes with reliable, respectful tenants and a professional property manager already in place—making it one of the easiest investments you’ll ever make. The home offers steady income potential and peace of mind, with every detail cared for and consistent rental performance. Don’t miss your chance to own this turnkey investment in a picturesque small-town setting!

17. 2005-08-12
    soldstatus $59,500
18. 2002-10-03
    soldstatus $26,000
19. 2001-12-17
    soldstatus $32,615

ⓘ 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: $3,030 · $252/mo
• Projected year-2 tax: $3,030 · $252/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: $27,660
• − Mortgage interest: −$9,523
• − Property taxes: −$3,030
• − Insurance: −$850
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$4,945
• Taxable income: $4,887
• Est. tax owed @ 24.0%: −$1,173
• After-tax cash flow: $6,101/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 (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

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 · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

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

+421.2% since first listed

5 events — show timeline

• 2025-11-18 Listed $170,000 UNYREIS
• 2025-11-12 Listed $170,000 OneKey® MLS as Distributed by MLS Grid
• 2005-08-12 Sold (Public Records) $59,500 Public Records
• 2002-10-03 Sold (Public Records) $26,000 Public Records
• 2001-12-17 Sold (Public Records) $32,615 Public Records

Property tax history

+0.6%/yr

Latest (2025): $3,030 · +1.6% YoY. Source: county tax records.