17 Spencer St · Lyons, NY 14489

$110,000

2 bd · 2.0 ba · 2,219 sqft · Townhouse public records · 5 Days on market

Built 1848 3,920 sqft lot $50/sqft · 17% below area Est $133k · 17% under

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Why this score? — see what drove the A 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Introducing 17 Spencer St. OPPORTUNITY is KNOCKING on this 2 unit duplex that is perfect for an owner occupant with potential rental income or for investors seeking a well-maintained, income-generating property. Located on a quiet Street with off street parking and a detached 1 car garage. Each unit offers 1 bed/1 full bath with a second room ideal for an office or possible bedroom. Both units offer large eat in kitchens with ample storage along with spacious living rooms. Roof-2003, Furnaces-2012, HWT-2011, Central Air- Upper unit, Some newer windows, outside doors and newer appliances. Please note that all appointments Thursday-Monday require a 24-hour notice, and the upstairs unit is currently tenant occupied (month to month) Tenant would like to stay. List of Home Improvements in the attachments. Delayed Showings -Thursday 9/21 @10AM and Delayed offers due, Tuesday 9/26 @12PM. Don't miss the chance to make this duplex your own.

Key facts

• Separate utilities
• Off street parking
• 2 unit duplex

Tags

• 2 UNIT DUPLEX
• SEPARATE LAUNDRY HOOKUPS
• SEPARATE UTILITIES
• OFF STREET PARKING
• DETACHED GARAGE

Property features AI

Finance

• Other: Two total units; Two separate gas meters; Two separate electric meters
• Financial info: Owner pays water; Rent includes water; Operating expenses may include accounting, insurance, legal, licenses, maintenance (structure), maintenance, water/sewer

Exterior

• Parking: 1-car garage; Paved parking with two or more spaces; Common parking
• Utilities: Public water connected; Sewer connected; Cable available; Circuit breaker electrical
• Home design: 2-story property; Residential 2-unit zoning
• Construction: Aluminum siding; Copper plumbing; Asphalt shingle roof; Stone foundation; Existing construction
• Exterior features: Deck; Fence; Covered porch; Open porch

Interior

• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating; Central air conditioning
• Interior features: Storm windows; Ceiling fan(s)
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).

Location & tenants

• Location reads 75/100 on livability (#270 in NY, #4,307 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Lyons Central School District (town): math 33% / reading 42% proficiency, ranked #549 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Wayne County population projected at -24% 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago 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 $92k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1848 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1848 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 5.8

CMA / ARV

• ARV (median comp): $133,076
• List price: $110,000
• Delta: -17.34%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.7%
• Equity multiple: 3.77×
• Total profit: $85,177
• Equity at exit: $99,097

10-year hold

• IRR: 30.8%
• Equity multiple: 8.51×
• Total profit: $231,174
• Equity at exit: $213,706

Cash invested: $30,800 (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 14489

• Home prices YoY: 14.2%
• Active inventory: 27
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$223 /mo · $2,680/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $396

Break-even live

Break-even rent $1,071

Max offer price $110,000

Occupancy floor 70%

Sensitivity live

Price	-10% $458	-5% $427	+0% $396	+5% $364	+10% $333
Rent	-10% $271	-5% $333	+0% $396	+5% $458	+10% $520
Rate	-1.0pp $451	-0.5pp $424	base $396	+0.5pp $367	+1.0pp $338

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-06
   status Pending 1098-char remark
2. 2026-05-01
   listed $110,000 Active 1098-char remark
3. 2024-03-14
   historical $950
4. 2024-01-18
   listed $950
5. 2023-11-30
   soldstatus $91,500
6. 2023-11-28
   soldstatus $91,500 Closed Sale or Rented 945-char remark

   Show marketing remark (945 chars)

   Introducing 17 Spencer St. OPPORTUNITY is KNOCKING on this 2 unit duplex that is perfect for an owner occupant with potential rental income or for investors seeking a well-maintained, income-generating property. Located on a quiet Street with off street parking and a detached 1 car garage. Each unit offers 1 bed/1 full bath with a second room ideal for an office or possible bedroom. Both units offer large eat in kitchens with ample storage along with spacious living rooms. Roof-2003, Furnaces-2012, HWT-2011, Central Air- Upper unit, Some newer windows, outside doors and newer appliances. Please note that all appointments Thursday-Monday require a 24-hour notice, and the upstairs unit is currently tenant occupied (month to month) Tenant would like to stay. List of Home Improvements in the attachments. Delayed Showings -Thursday 9/21 @10AM and Delayed offers due, Tuesday 9/26 @12PM. Don't miss the chance to make this duplex your own.

7. 2023-09-28
   status Under Contract- Do Not Show 945-char remark

   Show marketing remark (945 chars)

   Introducing 17 Spencer St. OPPORTUNITY is KNOCKING on this 2 unit duplex that is perfect for an owner occupant with potential rental income or for investors seeking a well-maintained, income-generating property. Located on a quiet Street with off street parking and a detached 1 car garage. Each unit offers 1 bed/1 full bath with a second room ideal for an office or possible bedroom. Both units offer large eat in kitchens with ample storage along with spacious living rooms. Roof-2003, Furnaces-2012, HWT-2011, Central Air- Upper unit, Some newer windows, outside doors and newer appliances. Please note that all appointments Thursday-Monday require a 24-hour notice, and the upstairs unit is currently tenant occupied (month to month) Tenant would like to stay. List of Home Improvements in the attachments. Delayed Showings -Thursday 9/21 @10AM and Delayed offers due, Tuesday 9/26 @12PM. Don't miss the chance to make this duplex your own.

8. 2023-09-20
   listed $89,900 Active 945-char remark

   Show marketing remark (945 chars)

   Introducing 17 Spencer St. OPPORTUNITY is KNOCKING on this 2 unit duplex that is perfect for an owner occupant with potential rental income or for investors seeking a well-maintained, income-generating property. Located on a quiet Street with off street parking and a detached 1 car garage. Each unit offers 1 bed/1 full bath with a second room ideal for an office or possible bedroom. Both units offer large eat in kitchens with ample storage along with spacious living rooms. Roof-2003, Furnaces-2012, HWT-2011, Central Air- Upper unit, Some newer windows, outside doors and newer appliances. Please note that all appointments Thursday-Monday require a 24-hour notice, and the upstairs unit is currently tenant occupied (month to month) Tenant would like to stay. List of Home Improvements in the attachments. Delayed Showings -Thursday 9/21 @10AM and Delayed offers due, Tuesday 9/26 @12PM. Don't miss the chance to make this duplex your own.

9. 1999-09-03
   soldstatus $46,000

ⓘ 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: $2,680 · $223/mo
• Projected year-2 tax: $2,680 · $223/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,859
• − Mortgage interest: −$6,162
• − Property taxes: −$2,680
• − Insurance: −$550
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$3,200
• Taxable income: $3,250
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $3,966/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: Lyons Central School District
• NCES district ID: 3618030
• Math proficiency: 33% ▲ 4.00%
• Reading proficiency: 42% ▼ -28.00%
• Median HH income: $43,076
• Composite: 31.73/100
• National rank: #5909
• State rank: #549 of 590 in NY

Livability — Lyons

• Score: 75/100
• State rank: #270
• US rank: #4307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyons, NY
• Population (ZIP): 7,016

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Black 2%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Iranian 8% Romanian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · German/W. Germanic 7% Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.65%
• Current HPI: 311.1445
• 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

+139.1% since first listed

9 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-05-01 Listed $110,000 UNYREIS
• 2024-03-14 Rental Removed $950 APPFOLIO
• 2024-01-18 Listed for Rent $950 APPFOLIO
• 2023-11-30 Sold (Public Records) $91,500 Public Records
• 2023-11-28 Sold (MLS) $91,500 UNYREIS
• 2023-09-28 Pending — UNYREIS
• 2023-09-20 Listed $89,900 UNYREIS
• 1999-09-03 Sold (Public Records) $46,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $2,680 · -4.7% YoY. Source: county tax records.