54 Gardeau St · Perry, NY 14530

$35,000

2 bd · 1.0 ba · 1,345 sqft · SingleFamily public records · 147 Days on market

Built 1900 9,045 sqft lot $26/sqft · 68% below area ↓ 30% 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
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great village location AND opportunity to MAKE THIS HOUSE YOUR OWN! Home is priced to sell and needs total rehab. 1st floor bedrooms and first floor bath makes this an option for everyone! Tons of potential for owner occupant or investor. Perry School District, low taxes! Buyer must have cash or be qualified for a rehabilitation loan. Being sold "AS IS".

Key facts

• 9,045 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.5% vs local median 4.2% in Perry — 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 72/100 on livability (#348 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, amenities F, commute F.
• Perry Central School District (rural): math 53% / reading 63% proficiency, ranked #272 of 590 in NY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 83 units permitted in Wyoming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wyoming County population projected at -16% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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. 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: 3.43% ✓
• Cap rate: 30.48%
• Cash-on-cash: 86.40%
• DSCR: 4.84
• GRM: 2.4

CMA / ARV

• ARV (median comp): $108,373
• List price: $35,000
• Delta: -67.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Borden Ave	0.07mi	3/1.5 (+1)	1,380 (+3%)	24mo	$110,000	$80	66
26 Bradford St	0.45mi	3/1.5 (+1)	1,364 (+1%)	12mo	$149,900	$110	60
88 Gardeau Rd	0.13mi	3/1.0 (+1)	1,148 (-15%)	7mo	$151,000	$132	59
45 Olin Ave	0.53mi	3/1.0 (+1)	1,392 (+4%)	11mo	$148,000	$106	56
23 Hawthorne St	0.38mi	3/2.0 (+1)	1,426 (+6%)	9mo	$163,500	$115	56
12 Handley St	0.12mi	3/1.0 (+1)	1,531 (+14%)	15mo	$50,000	$33	54
3 Watrous St	0.36mi	3/2.0 (+1)	1,240 (-8%)	10mo	$135,000	$109	53
5 Watkins Ave	0.55mi	3/1.5 (+1)	1,344 (-0%)	22mo	$60,000	$45	49
24 Tempest St	0.70mi	3/1.5 (+1)	1,300 (-3%)	8mo	$85,000	$65	48
46 Watkins Ave	0.43mi	3/2.0 (+1)	1,144 (-15%)	6mo	$164,500	$144	41
180 N Main St	0.72mi	3/2.0 (+1)	1,278 (-5%)	13mo	$100,000	$78	38

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: 86.9%
• Equity multiple: 5.01×
• Total profit: $39,284
• Equity at exit: $5,219

10-year hold

• IRR: 90.0%
• Equity multiple: 10.40×
• Total profit: $92,146
• Equity at exit: $3,026

Cash invested: $9,800 (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 14530

• Home prices YoY: -4.0%
• Active inventory: 23
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $706

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 36%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $35,000 Active 147 DOM
2. 2026-06-17
   days on market $35,000 Active 146 DOM
3. 2026-06-16
   days on market $35,000 Active 145 DOM
4. 2026-06-15
   days on market $35,000 Active 144 DOM
5. 2026-06-13
   days on market $35,000 Active 142 DOM
6. 2026-06-12
   days on market $35,000 Active 141 DOM
7. 2026-06-09
   days on market $35,000 Active 138 DOM
8. 2026-06-08
   days on market $35,000 Active 137 DOM
9. 2026-06-07
   days on market $35,000 Active 136 DOM
10. 2026-06-05
    days on market $35,000 Active 134 DOM
11. 2026-06-04
    days on market $35,000 Active 132 DOM
12. 2026-06-02
    days on market $35,000 Active 131 DOM
13. 2026-06-01
    days on market $35,000 Active 130 DOM
14. 2026-05-31
    days on market $35,000 Active 129 DOM
15. 2026-01-22
    listed $40,000 Active 367-char remark

    Show marketing remark (367 chars)

    Great village location AND opportunity to MAKE THIS HOUSE YOUR OWN! Home is priced to sell and needs total rehab. 1st floor bedrooms and first floor bath makes this an option for everyone! Tons of potential for owner occupant or investor. Perry School District, low taxes! Buyer must have cash or be qualified for a rehabilitation loan. Being sold "AS IS".

16. 2024-11-15
    soldstatus $26,500 Closed 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

17. 2024-10-20
    status Pending 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

18. 2024-10-11
    historical Active Under Contract 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

19. 2024-09-26
    status Active 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

20. 2024-09-26
    price $35,000 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

21. 2024-06-05
    status Pending 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

22. 2024-04-29
    listed $39,000 Active 182-char remark

    Show marketing remark (182 chars)

    Instant Income or Your Next Flip! ~ Great Village Location! ~ Long Term Tenants Would Love To Stay ~ Home needs TLC ~ Estate ~ Home comes "As Is" ~ Cash or Rehab loan only.

23. 2012-05-18
    listed $57,000

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,391
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$1,018
• Taxable income: $8,410
• Est. tax owed @ 24.0%: −$2,018
• After-tax cash flow: $6,448/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: Perry Central School District
• NCES district ID: 3622770
• Math proficiency: 53% ▼ -7.00%
• Reading proficiency: 63% ▲ 12.00%
• Median HH income: $48,386
• Composite: 49.23/100
• National rank: #2036
• State rank: #272 of 590 in NY

Livability — Perry

• Score: 72/100
• State rank: #348
• US rank: #5898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perry, NY
• Population (ZIP): 6,396

Population outlook (Wyoming County) Hauer SSP2

• Today (2025): 38,976 people
• By 2030: 37,826 · -3.0%
• By 2040: 35,585 · -8.7%
• By 2050: 32,841 · -15.7%
• By 2075: 25,920 · -33.5%
• By 2100: 19,082 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Black 5% Two or more races 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 3% Danish 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Wyoming

• 2024 margin: Solid R (+48.2) · D 25.9% · R 74.1%
• 2008→2024 swing: -22.1pp toward R · 2008: -26.1pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+45.5 2016: R+51.0 2012: R+29.6 2008: R+26.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.45%
• Current HPI: 250.8251
• 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

-29.8% since first listed

9 events — show timeline

• 2026-01-22 Listed $40,000 UNYREIS
• 2024-11-15 Sold (MLS) $26,500 UNYREIS
• 2024-10-20 Pending — UNYREIS
• 2024-10-11 Contingent — UNYREIS
• 2024-09-26 Relisted — UNYREIS
• 2024-09-26 Price Changed $35,000 UNYREIS
• 2024-06-05 Pending — UNYREIS
• 2024-04-29 Listed $39,000 UNYREIS
• 2012-05-18 Listed $57,000 WNYREIS

Property tax history

+1.8%/yr

Latest (2025): $3,435 · +2.0% YoY. Source: county tax records.