61 West St · New Berlin, NY 13411

$134,900

5 bd · 2.5 ba · 1,704 sqft · MultiFamily public records · 226 Days on market

Built 1934 0.31 ac lot $79/sqft · 21% above area Est $105k · 28% over

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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 +28.9/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Remodeled duplex within Village. Spacious rooms and convenient layout. Great opportunity for Owner occupant with additional rent paying expenses. Washer/dryer, Refrigerator and stove included in both units; Upper unit has dishwasher. Finishes and fixtures in good condition and well maintained. Some replacement new windows; vinyl siding, metal roof. Separate access for each unit. Updated electric, heat and plumbing. 1ST floor unit - Electric baseboard heat; 2nd floor- Propane hot air. Additional space in the basement - used as workshop and storage. Owner states always easy to rent- low utility costs, neat and clean apartments.

Key facts

• Remodeled duplex
• Spacious rooms
• Convenient layout

Tags

• REMODELED DUPLEX
• SPACIOUS ROOMS
• CONVENIENT LAYOUT
• WASHER DRYER INCLUDED
• REFRIGERATOR INCLUDED
• STOVE INCLUDED

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive. Per door: $229/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#960 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Unadilla Valley Central School District (rural): math 26% / reading 38% proficiency, ranked #571 of 590 in NY (top 97%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Unadilla Valley Elementary School (math 12% / reading 32%, grade F, #1,923 of 2,108 statewide, top 92%, 465 students, 27% FRL) — zoned schools average 27% FRL vs 49% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 28 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 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 $44k; list at $135k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 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 1934 — 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. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.33% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.55%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

• ARV (median comp): $105,023
• List price: $134,900
• Delta: 28.45%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 3.72×
• Total profit: $102,693
• Equity at exit: $121,529

10-year hold

• IRR: 30.2%
• Equity multiple: 8.40×
• Total profit: $279,559
• Equity at exit: $262,081

Cash invested: $37,772 (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 13411

• Home prices YoY: 3.3%
• Active inventory: 28
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$198 /mo · $2,374/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $458

Break-even live

Break-even rent $1,217

Max offer price $134,900

Occupancy floor 70%

Sensitivity live

Price	-10% $534	-5% $496	+0% $458	+5% $420	+10% $382
Rent	-10% $316	-5% $387	+0% $458	+5% $529	+10% $600
Rate	-1.0pp $526	-0.5pp $492	base $458	+0.5pp $423	+1.0pp $388

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,798
Total (2 units)			$1,797

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $134,900 Active 226 DOM
2. 2026-06-21
   days on market $134,900 Active 225 DOM
3. 2026-06-18
   days on market $134,900 Active 223 DOM
4. 2026-06-17
   days on market $134,900 Active 222 DOM
5. 2026-06-16
   days on market $134,900 Active 221 DOM
6. 2026-06-15
   days on market $134,900 Active 220 DOM
7. 2026-06-13
   days on market $134,900 Active 218 DOM
8. 2026-06-12
   days on market $134,900 Active 217 DOM
9. 2026-06-09
   days on market $134,900 Active 214 DOM
10. 2026-06-08
    days on market $134,900 Active 213 DOM
11. 2026-06-07
    days on market $134,900 Active 212 DOM
12. 2026-06-05
    days on market $134,900 Active 210 DOM
13. 2026-06-04
    days on market $134,900 Active 208 DOM
14. 2026-06-02
    days on market $134,900 Active 207 DOM
15. 2026-06-01
    days on market $134,900 Active 206 DOM
16. 2026-05-31
    days on market $134,900 Active 205 DOM
17. 2026-04-06
    status Active 633-char remark

    Show marketing remark (633 chars)

    Remodeled duplex within Village. Spacious rooms and convenient layout. Great opportunity for Owner occupant with additional rent paying expenses. Washer/dryer, Refrigerator and stove included in both units; Upper unit has dishwasher. Finishes and fixtures in good condition and well maintained. Some replacement new windows; vinyl siding, metal roof. Separate access for each unit. Updated electric, heat and plumbing. 1ST floor unit - Electric baseboard heat; 2nd floor- Propane hot air. Additional space in the basement - used as workshop and storage. Owner states always easy to rent- low utility costs, neat and clean apartments.

18. 2026-03-13
    price $134,900 633-char remark

    Show marketing remark (633 chars)

    Remodeled duplex within Village. Spacious rooms and convenient layout. Great opportunity for Owner occupant with additional rent paying expenses. Washer/dryer, Refrigerator and stove included in both units; Upper unit has dishwasher. Finishes and fixtures in good condition and well maintained. Some replacement new windows; vinyl siding, metal roof. Separate access for each unit. Updated electric, heat and plumbing. 1ST floor unit - Electric baseboard heat; 2nd floor- Propane hot air. Additional space in the basement - used as workshop and storage. Owner states always easy to rent- low utility costs, neat and clean apartments.

19. 2025-12-03
    status Active 633-char remark

    Show marketing remark (633 chars)

    Remodeled duplex within Village. Spacious rooms and convenient layout. Great opportunity for Owner occupant with additional rent paying expenses. Washer/dryer, Refrigerator and stove included in both units; Upper unit has dishwasher. Finishes and fixtures in good condition and well maintained. Some replacement new windows; vinyl siding, metal roof. Separate access for each unit. Updated electric, heat and plumbing. 1ST floor unit - Electric baseboard heat; 2nd floor- Propane hot air. Additional space in the basement - used as workshop and storage. Owner states always easy to rent- low utility costs, neat and clean apartments.

20. 2025-10-07
    listed $140,000 Active 633-char remark

    Show marketing remark (633 chars)

    Remodeled duplex within Village. Spacious rooms and convenient layout. Great opportunity for Owner occupant with additional rent paying expenses. Washer/dryer, Refrigerator and stove included in both units; Upper unit has dishwasher. Finishes and fixtures in good condition and well maintained. Some replacement new windows; vinyl siding, metal roof. Separate access for each unit. Updated electric, heat and plumbing. 1ST floor unit - Electric baseboard heat; 2nd floor- Propane hot air. Additional space in the basement - used as workshop and storage. Owner states always easy to rent- low utility costs, neat and clean apartments.

21. 1998-09-01
    soldstatus $44,000

ⓘ 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: $2,374 · $198/mo
• Projected year-2 tax: $2,374 · $198/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $21,564
• − Mortgage interest: −$7,556
• − Property taxes: −$2,374
• − Insurance: −$674
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$3,924
• Taxable income: $3,584
• Est. tax owed @ 24.0%: −$860
• After-tax cash flow: $4,637/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: Unadilla Valley Central School District
• NCES district ID: 3600019
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 38% ▲ 5.00%
• Median HH income: $45,176
• Composite: 27.35/100
• National rank: #6985
• State rank: #571 of 590 in NY

Livability — New Berlin

• Score: 60/100
• State rank: #960
• US rank: #18789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Berlin, NY
• Population (ZIP): 2,920

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 2%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.20%
• Current HPI: 323.6602
• 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

+206.6% since first listed

5 events — show timeline

• 2026-04-06 Relisted — UNYREIS
• 2026-03-13 Price Changed $134,900 UNYREIS
• 2025-12-03 Relisted — UNYREIS
• 2025-10-07 Listed $140,000 UNYREIS
• 1998-09-01 Sold (Public Records) $44,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $2,374 · +2.0% YoY. Source: county tax records.