58 Chapel St · Mount Morris, NY 14510

$60,000

3 bd · 1.5 ba · 1,876 sqft · SingleFamily public records · 94 Days on market

Built 1900 5,890 sqft lot

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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 +4.6/10.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Check out this project in the Village of Mount Morris! This colonial style home has so much potential. It has 3 bedrooms and 2.5 bathrooms with over 1800 in square footage. The layout provides ample space to. The 1st floor offers a living room, rear family room and a front parlor. 1-car detached garage with plenty of off-street parking. 2nd floor offers 3 bedrooms which includes a primary suite and 2nd floor laundry area. While this property does need your personal touch, it has many possibilities to transform into your home or great investment. Exterior features vinyl siding. Convenient Village location with access to local amenities including shops, parks, and schools.

Key facts

• Front parlor
• Colonial style home
• Vinyl siding

Tags

• COLONIAL STYLE HOME
• REAR FAMILY ROOM
• FRONT PARLOR
• 1 CAR DETACHED GARAGE
• 2ND FLOOR LAUNDRY AREA
• VINYL SIDING

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Cable available; Public water (connected); Sewer connected; Circuit breaker electrical
• Home design: Two-story house; Existing/previously built property
• Construction: Vinyl siding; Copper plumbing; Stone foundation; Architectural, flat and shingle roof
• Exterior features: Blacktop driveway; Enclosed porch; Open porch; Rectangular residential lot; City street frontage

Interior

• Bedrooms: Total rooms include living and family areas (see room types)
• Flooring: Hardwood; Laminate; Resilient flooring; Varied flooring types
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Entrance foyer; Separate/formal living room; Primary bedroom with private bath; Storm windows; Thermal windows; Wood window frames; Accessible approach with ramp
• Laundry & utility: Laundry on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/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: $55k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,027 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment D-.
• Mount Morris Central School District (town): math 31% / reading 47% proficiency, ranked #537 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mount Morris Elementary School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 316 students, 60% FRL); Mount Morris Middle/Senior High School (math 27% / reading 47%, grade F, #1,069 of 1,100 statewide, top 98%, 223 students, 57% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 28 active listings in the ZIP; 86 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $415 of loan paydown is wiped out by about $490 of value loss. Plan a longer hold.
• Livingston County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; 35% 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 $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 2.07% ✓
• Cap rate: 17.63%
• Cash-on-cash: 40.47%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $125,692
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40 Murray St	0.11mi	3/1.0	1,967 (+5%)	17mo	$120,000	$61	70
55 Eagle St	0.24mi	4/2.0 (+1)	2,016 (+8%)	6mo	$135,800	$67	64
62 Murray St	0.18mi	3/2.0	1,696 (-10%)	18mo	$83,500	$49	59
5 Breen St	0.63mi	3/2.0	1,972 (+5%)	10mo	$185,000	$94	52
20 Genesee St	0.29mi	3/2.0	1,696 (-10%)	20mo	$170,000	$100	52
1 Pine Cir	0.57mi	4/2.0 (+1)	2,098 (+12%)	7mo	$230,000	$110	41
23 Erie St	0.61mi	4/1.0 (+1)	1,664 (-11%)	8mo	$64,900	$39	39

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

Projected returns pro-forma

-0.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 2.91×
• Total profit: $32,089
• Equity at exit: $15,013

10-year hold

• IRR: 44.2%
• Equity multiple: 5.76×
• Total profit: $79,896
• Equity at exit: $16,222

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 14510

• Home prices YoY: -0.3%
• Active inventory: 28
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $567

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 49%

Sensitivity live

Price	-10% $608	-5% $587	+0% $567	+5% $546	+10% $525
Rent	-10% $469	-5% $518	+0% $567	+5% $616	+10% $665
Rate	-1.0pp $597	-0.5pp $582	base $567	+0.5pp $551	+1.0pp $535

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 19 events

1. 2026-06-21
   days on market $60,000 Active 94 DOM
2. 2026-06-21
   days on market $60,000 Active 93 DOM
3. 2026-06-18
   days on market $60,000 Active 91 DOM
4. 2026-06-17
   days on market $60,000 Active 90 DOM
5. 2026-06-16
   days on market $60,000 Active 89 DOM
6. 2026-06-15
   days on market $60,000 Active 88 DOM
7. 2026-06-13
   days on market $60,000 Active 86 DOM
8. 2026-06-12
   days on market $60,000 Active 85 DOM
9. 2026-06-09
   days on market $60,000 Active 82 DOM
10. 2026-06-08
    days on market $60,000 Active 81 DOM
11. 2026-06-07
    days on market $60,000 Active 80 DOM
12. 2026-06-07
    days on market $60,000 Active 79 DOM
13. 2026-06-04
    days on market $60,000 Active 76 DOM
14. 2026-06-02
    days on market $60,000 Active 75 DOM
15. 2026-06-01
    days on market $60,000 Active 74 DOM
16. 2026-05-31
    days on market $60,000 Active 73 DOM
17. 2026-05-21
    price $60,000
18. 2026-03-18
    listed $65,000 Active
19. 2004-07-07
    soldstatus $44,500

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 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: $14,906
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$1,745
• Taxable income: $6,214
• Est. tax owed @ 24.0%: −$1,491
• After-tax cash flow: $5,308/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: Mount Morris Central School District
• NCES district ID: 3620010
• Math proficiency: 31% ▼ -3.00%
• Reading proficiency: 47% ▲ 10.00%
• Median HH income: $42,913
• Composite: 32.93/100
• National rank: #5596
• State rank: #537 of 590 in NY

Livability — Mount Morris

• Score: 59/100
• State rank: #1027
• US rank: #20058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Morris, NY
• Population (ZIP): 4,781

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 63,466 people
• By 2030: 61,966 · -2.4%
• By 2040: 58,398 · -8.0%
• By 2050: 54,955 · -13.4%
• By 2075: 49,958 · -21.3%
• By 2100: 43,944 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Portuguese 4% Lithuanian 2% Serbian 2%
• Foreign-born: 1%
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+21.4) · D 39.3% · R 60.7%
• 2008→2024 swing: -13.6pp toward R · 2008: -7.9pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+18.2 2016: R+27.8 2012: R+9.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.82%
• Current HPI: 250.0593
• 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

+34.8% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $60,000 UNYREIS
• 2026-03-18 Listed $65,000 UNYREIS
• 2004-07-07 Sold (Public Records) $44,500 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,443 · -2.4% YoY. Source: county tax records.