3934 Rt-19 #3932 · Scio, NY 14880

$190,000

3 bd · 2.0 ba · 2,624 sqft · MultiFamily public records · 135 Days on market

Built 1955 0.90 ac lot $72/sqft · 14% below area Est $220k · 14% under

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Why this score? — see what drove the D 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).

• ARV discount +13.6/15.0
• Appreciation +9.1/10.0
• Cash flow +5.2/30.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Located along Main Street in Scio, this dual-address property offers flexibility and opportunity in a small-town setting. Featuring two separate addresses, the property is well suited for a variety of uses, including multi-unit residential, owner-occupied living with rental income, or investment purposes. The building sits on a convenient, easily accessible stretch of road with nearby amenities and straightforward access to surrounding communities in Allegany County. Whether you’re looking to expand your rental portfolio or customize a property to fit your needs, this location provides a solid foundation with long-term potential. This property is currently being used as a two unit but has the potential to be a three unit. The main apartment has 2 bedrooms, a large living room with gas fireplace and built-ins, dining area, eat-in kitchen, full bath, laundry and walk up attic. The second unit located at the front of the building includes 1 bedroom, eat-in kitchen, living room and full bath with laundry. The third space is currently used by the seller as a guest quarters and additional living/recreational space. It is a large open area that could be converted to include kitchen, bedrooms, etc. There is a large full bath and storage area. If converted to a third apartment it could potentially rent for appx $950 plus utilities. Directions:

Key facts

• Two unit
• Investment purposes
• Rental income

Tags

• DUAL-ADDRESS PROPERTY
• MULTI-UNIT RESIDENTIAL
• OWNER-OCCUPIED LIVING
• RENTAL INCOME
• INVESTMENT PURPOSES
• TWO UNIT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $-493 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (45.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (32.5% below list).
• Recommended offer: $103k (45.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#827 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, crime F.
• Scio Central School District (rural): math 45% / reading 45% proficiency, ranked #571 of 755 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 87 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (8.1% local appreciation)).
• Allegany County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,878 (45.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.68% ✗
• Cap rate: 3.60%
• Cash-on-cash: -9.63%
• DSCR: 0.57
• GRM: 12.3

CMA / ARV

• ARV (median comp): $220,000
• List price: $190,000
• Delta: -13.64%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

8.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.92×
• Total profit: $48,732
• Equity at exit: $146,194

10-year hold

• IRR: 12.6%
• Equity multiple: 4.10×
• Total profit: $165,087
• Equity at exit: $291,973

Cash invested: $53,200 (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 14880

• Home prices YoY: 3.1%
• Active inventory: 13
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$365 /mo · $4,375/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-493

Break-even live

Break-even rent $1,907

Max offer price $102,878

Occupancy floor —

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $190,000 Active 135 DOM
2. 2026-06-17
   days on market $190,000 Active 134 DOM
3. 2026-06-16
   days on market $190,000 Active 133 DOM
4. 2026-06-15
   days on market $190,000 Active 132 DOM
5. 2026-06-13
   days on market $190,000 Active 130 DOM
6. 2026-06-12
   pricedays on market $190,000 Active 129 DOM
7. 2026-06-09
   days on market $195,000 Active 126 DOM
8. 2026-06-08
   days on market $195,000 Active 125 DOM
9. 2026-06-07
   days on market $195,000 Active 124 DOM
10. 2026-06-07
    days on market $195,000 Active 123 DOM
11. 2026-06-04
    days on market $195,000 Active 120 DOM
12. 2026-06-02
    days on market $195,000 Active 119 DOM
13. 2026-06-01
    days on market $195,000 Active 118 DOM
14. 2026-05-31
    days on market $195,000 Active 117 DOM
15. 2026-02-03
    listed $195,000 Active 1362-char remark

    Show marketing remark (1362 chars)

    Located along Main Street in Scio, this dual-address property offers flexibility and opportunity in a small-town setting. Featuring two separate addresses, the property is well suited for a variety of uses, including multi-unit residential, owner-occupied living with rental income, or investment purposes. The building sits on a convenient, easily accessible stretch of road with nearby amenities and straightforward access to surrounding communities in Allegany County. Whether you’re looking to expand your rental portfolio or customize a property to fit your needs, this location provides a solid foundation with long-term potential. This property is currently being used as a two unit but has the potential to be a three unit. The main apartment has 2 bedrooms, a large living room with gas fireplace and built-ins, dining area, eat-in kitchen, full bath, laundry and walk up attic. The second unit located at the front of the building includes 1 bedroom, eat-in kitchen, living room and full bath with laundry. The third space is currently used by the seller as a guest quarters and additional living/recreational space. It is a large open area that could be converted to include kitchen, bedrooms, etc. There is a large full bath and storage area. If converted to a third apartment it could potentially rent for appx $950 plus utilities. Directions:

16. 2026-01-15
    listed $195,000 Active 1350-char remark

    Show marketing remark (1350 chars)

    Located along Main Street in Scio, this dual-address property offers flexibility and opportunity in a small-town setting. Featuring two separate addresses, the property is well suited for a variety of uses, including multi-unit residential, owner-occupied living with rental income, or investment purposes. The building sits on a convenient, easily accessible stretch of road with nearby amenities and straightforward access to surrounding communities in Allegany County. Whether you’re looking to expand your rental portfolio or customize a property to fit your needs, this location provides a solid foundation with long-term potential. This property is currently being used as a two unit but has the potential to be a three unit. The main apartment has 2 bedrooms, a large living room with gas fireplace and built-ins, dining area, eat-in kitchen, full bath, laundry and walk up attic. The second unit located at the front of the building includes 1 bedroom, eat-in kitchen, living room and full bath with laundry. The third space is currently used by the seller as a guest quarters and additional living/recreational space. It is a large open area that could be converted to include kitchen, bedrooms, etc. There is a large full bath and storage area. If converted to a third apartment it could potentially rent for appx $950 plus utilities.

ⓘ 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: $4,375 · $365/mo
• Projected year-2 tax: $4,375 · $365/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 19 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: $15,393
• − Mortgage interest: −$10,643
• − Property taxes: −$4,375
• − Insurance: −$1,748
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$5,527
• Taxable loss: −$9,362
• Est. tax savings @ 24.0%: +$2,247
• After-tax cash flow: $-3,671/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: Scio Central School District
• NCES district ID: 3626190
• Math proficiency: 45% ▬ 0.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $45,335
• Composite: 40.42/100
• National rank: #7725
• State rank: #571 of 755 in NY

Livability — Scio

• Score: 63/100
• State rank: #827
• US rank: #16028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scio, NY
• City population: 1,475
• Population (ZIP): 1,475

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 45,362 people
• By 2030: 43,078 · -5.0%
• By 2040: 38,031 · -16.2%
• By 2050: 33,634 · -25.9%
• By 2075: 25,285 · -44.3%
• By 2100: 18,902 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 3%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 3% · South Korea
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+43.2) · D 28.4% · R 71.6%
• 2008→2024 swing: -21.5pp toward R · 2008: -21.7pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+38.9 2016: R+42.3 2012: R+25.3 2008: R+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.14%
• Current HPI: 274.2252
• 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

+0.0% since first listed

2 events — show timeline

• 2026-02-03 Listed $195,000 UNYREIS
• 2026-01-15 Listed $195,000 UNYREIS

Property tax history

+0.6%/yr

Latest (2025): $4,375 · +2.8% YoY. Source: county tax records.