531 Vienna St · Palmyra, NY 14522

$109,900

4 bd · 2.0 ba · 1,648 sqft · MultiFamily public records · 8 Days on market

Built 1875 8,712 sqft lot $67/sqft · 60% below area

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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
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Attention Investors! Amazing opportunity for an income property or owner occupied duplex. Separate utilities, refrigerator and ovens included! Newer carpet and laminate flooring throughout. Located on a quiet Village street with large yard. CALL TODAY!!!

Key facts

• 2 family home
• Ample natural light
• Off street parking

Tags

• 2 FAMILY HOME
• UPDATED KITCHEN
• AMPLE NATURAL LIGHT
• OFF STREET PARKING
• LARGE YARD
• QUIET NEIGHBORHOOD STREET

Property features AI

Finance

• Other: Rent includes gardener and trash collection
• Financial info: Property is a 2-unit multifamily with separate gas and electric meters for each unit; Owner pays grounds care and trash collection; Operating expenses may include insurance, maintenance (structure and general), trash, and other items (see remarks); One unit currently renting for $750 month and is month-to-month

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: Two-story building; Existing construction
• Construction: Aluminum siding; Asphalt roof; Stone foundation; Copper and PEX plumbing
• Exterior features: Rectangular lot; Agricultural zoning/character (per listing)

Interior

• Kitchen: Oven/range; Refrigerator; Eat-in kitchen; Dishwasher (in one unit)
• Bedrooms: Two 2-bedroom units (one unit with 2 bedrooms; other unit with 1 bedroom)
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas-fired forced air heating; Central air conditioning
• Interior features: Ceiling fans; Other (see remarks); Full basement with sump pump
• Laundry & utility: Washer and dryer (in one unit); Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $644/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).

Location & tenants

• Location reads 71/100 on livability (#381 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Palmyra-Macedon Central School District (town): math 41% / reading 51% proficiency, ranked #443 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $70k; list at $110k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.59% ✓
• Cap rate: 20.35%
• Cash-on-cash: 50.19%
• DSCR: 3.23
• GRM: 3.2

CMA / ARV

• ARV (median comp): $277,964
• List price: $109,900
• Delta: -60.46%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
381 Prospect Dr	0.61mi	3/2.0 (-1)	1,517 (-8%)	9mo	$127,000	$84	45
302 Fayette St	0.75mi	4/2.0	1,800 (+9%)	12mo	$103,500	$58	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 48.0%
• Equity multiple: 3.09×
• Total profit: $64,326
• Equity at exit: $16,386

10-year hold

• IRR: 53.6%
• Equity multiple: 6.27×
• Total profit: $162,232
• Equity at exit: $9,502

Cash invested: $30,772 (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 14522

• Home prices YoY: -26.9%
• Active inventory: 37
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,841 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$335 /mo · $4,023/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $1,287

Break-even live

Break-even rent $1,212

Max offer price $109,900

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,840
Total (2 units)			$2,841

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-13
   listed $109,900 Active 642-char remark
2. 2019-02-12
   soldstatus $69,900
3. 2019-02-11
   soldstatus $69,900 Closed Sale or Rented 256-char remark

   Show marketing remark (256 chars)

   Attention Investors! Amazing opportunity for an income property or owner occupied duplex. Separate utilities, refrigerator and ovens included! Newer carpet and laminate flooring throughout. Located on a quiet Village street with large yard. CALL TODAY!!!

4. 2018-12-20
   status Pending Sale 256-char remark

   Show marketing remark (256 chars)

   Attention Investors! Amazing opportunity for an income property or owner occupied duplex. Separate utilities, refrigerator and ovens included! Newer carpet and laminate flooring throughout. Located on a quiet Village street with large yard. CALL TODAY!!!

5. 2018-12-13
   listed $69,900 Active 256-char remark

   Show marketing remark (256 chars)

   Attention Investors! Amazing opportunity for an income property or owner occupied duplex. Separate utilities, refrigerator and ovens included! Newer carpet and laminate flooring throughout. Located on a quiet Village street with large yard. CALL TODAY!!!

ⓘ 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: $4,023 · $335/mo
• Projected year-2 tax: $4,023 · $335/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,092
• − Mortgage interest: −$6,156
• − Property taxes: −$4,023
• − Insurance: −$550
• − Repairs & maintenance: −$2,727
• − Management: −$2,727
• − Depreciation: −$3,197
• Taxable income: $14,711
• Est. tax owed @ 24.0%: −$3,531
• After-tax cash flow: $11,913/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: Palmyra-Macedon Central School District
• NCES district ID: 3622380
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 51% ▲ 10.00%
• Median HH income: $52,190
• Composite: 39.65/100
• National rank: #3915
• State rank: #443 of 590 in NY

Livability — Palmyra

• Score: 71/100
• State rank: #381
• US rank: #6555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmyra, NY
• City population: 9,230
• Population (ZIP): 9,230

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 1% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Romanian 3% Slovak 2%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.23%
• Current HPI: 217.7254
• 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

+57.2% since first listed

6 events — show timeline

• 2026-05-21 Pending — UNYREIS
• 2026-05-13 Listed $109,900 UNYREIS
• 2019-02-12 Sold (Public Records) $69,900 Public Records
• 2019-02-11 Sold (MLS) $69,900 UNYREIS
• 2018-12-20 Pending — UNYREIS
• 2018-12-13 Listed $69,900 UNYREIS

Property tax history

+3.4%/yr

Latest (2025): $4,023 · +2.1% YoY. Source: county tax records.