947 State Rte 22b · Peru, NY 12985

$60,000

3 bd · 1.0 ba · 1,757 sqft · SingleFamily public records · 126 Days on market

Built 1900 0.41 ac lot $34/sqft · 83% below area ↓ 13% since listing

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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 +6.7/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 bedroom, 1 bath home situated on 0.41.ac

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 2.4% in Peru — 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 71/100 on livability (#390 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: amenities F, commute F, health & safety D-.
• Peru Central School District (rural): math 35% / reading 48% proficiency, ranked #483 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peru Elementary School (math 23% / reading 46%, grade F, #1,577 of 2,108 statewide, top 77%, 866 students, 40% FRL); Peru Middle School (math 23% / reading 50%, grade F, #464 of 729 statewide, top 64%, 427 students, 42% FRL); Peru High School (math 92% / reading 70%, grade A, #495 of 1,100 statewide, top 46%, 567 students, 37% FRL).
• Market conditions: 6 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.4% local appreciation)).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 2.21% ✓
• Cap rate: 18.96%
• Cash-on-cash: 45.24%
• DSCR: 3.01
• GRM: 3.8

CMA / ARV

• ARV (median comp): $358,735
• List price: $60,000
• Delta: -83.27%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Rivers Edge Dr	0.51mi	3/1.0	1,824 (+4%)	24mo	$295,100	$162	50

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

Projected returns pro-forma

3.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.0%
• Equity multiple: 3.90×
• Total profit: $48,703
• Equity at exit: $28,165

10-year hold

• IRR: 50.3%
• Equity multiple: 7.88×
• Total profit: $115,517
• Equity at exit: $44,351

Cash invested: $16,800 (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 12985

• Home prices YoY: 1.4%
• Active inventory: 6
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $633

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 47%

Sensitivity live

Price	-10% $675	-5% $654	+0% $633	+5% $613	+10% $592
Rent	-10% $529	-5% $581	+0% $633	+5% $686	+10% $738
Rate	-1.0pp $664	-0.5pp $649	base $633	+0.5pp $618	+1.0pp $602

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $60,000 Active 126 DOM
2. 2026-06-19
   days on market $60,000 Active 124 DOM
3. 2026-06-18
   days on market $60,000 Active 123 DOM
4. 2026-06-17
   days on market $60,000 Active 122 DOM
5. 2026-06-16
   days on market $60,000 Active 121 DOM
6. 2026-06-15
   days on market $60,000 Active 120 DOM
7. 2026-06-14
   days on market $60,000 Active 118 DOM
8. 2026-06-13
   days on market $60,000 Active 117 DOM
9. 2026-06-10
   days on market $60,000 Active 115 DOM
10. 2026-06-09
    days on market $60,000 Active 114 DOM
11. 2026-06-08
    days on market $60,000 Active 113 DOM
12. 2026-06-07
    days on market $60,000 Active 112 DOM
13. 2026-06-03
    days on market $60,000 Active 108 DOM
14. 2026-06-02
    days on market $60,000 Active 107 DOM
15. 2026-06-01
    days on market $60,000 Active 106 DOM
16. 2026-05-31
    days on market $60,000 Active 105 DOM
17. 2026-05-30
    days on market $60,000 Active 104 DOM
18. 2026-04-23
    price $65,000 42-char remark

    Show marketing remark (42 chars)

    3 bedroom, 1 bath home situated on 0.41.ac

19. 2026-03-17
    price $70,000 42-char remark

    Show marketing remark (42 chars)

    3 bedroom, 1 bath home situated on 0.41.ac

20. 2026-02-13
    listed $75,000 Active 42-char remark

    Show marketing remark (42 chars)

    3 bedroom, 1 bath home situated on 0.41.ac

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,919
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$1,745
• Taxable income: $7,066
• Est. tax owed @ 24.0%: −$1,696
• After-tax cash flow: $5,905/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: Peru Central School District
• NCES district ID: 3622830
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 48% ▲ 4.00%
• Median HH income: $59,762
• Composite: 36.62/100
• National rank: #4621
• State rank: #483 of 590 in NY

Livability — Peru

• Score: 71/100
• State rank: #390
• US rank: #6741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 775

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Lithuanian 12% Danish 3% Romanian 3%
• Languages at home: 95% English-only · German/W. Germanic 4% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.35%
• Current HPI: 240.8565
• 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

-13.3% since first listed

3 events — show timeline

• 2026-04-23 Price Changed $65,000 ACVMLS
• 2026-03-17 Price Changed $70,000 ACVMLS
• 2026-02-13 Listed $75,000 ACVMLS

Property tax history

+6.5%/yr

Latest (2025): $3,050 · +5.1% YoY. Source: county tax records.