45 Second St · Deposit, NY 13754

$300,000

8 bd · 4.0 ba · 4,832 sqft · MultiFamily public records · 143 Days on market

Built 1960 0.36 ac lot $62/sqft · 19% below area Est $278k · 8% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• Schools +4.7/10.0
• ARV discount +4.0/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Historic Charm & Modern Convenience 4 family unit in the village of Deposit. Spacious apartments with large windows and high Victorian ceilings provide a bright and airy atmosphere. If you are looking for a steady income producer 45 Second St has a proven track record of occupancy and is a cornerstone addition to any portfolio. NEWLY ADDED, highly efficient Navien boiler and hot water heaters. Second floor 3-bedroom and 1st floor right hand side apartments are both newly renovated. The 3rd floor and the 1st floor left hand side apartments both have been rented 30 years to the same tenants. The lot is . 36 of an acre with a tenant parking lot and circular drive for convenience. Experience the small-town New York living. Located just steps away from the West Branch of the Delaware River - famed for world-class fly fishing. Walking distance to stores, the newly built community park, movie theater, cafes and diners.

Key facts

• Large windows
• Hot water heaters
• Circular drive

Tags

• LARGE WINDOWS
• HIGH VICTORIAN CEILINGS
• NAVIEN BOILER
• HOT WATER HEATERS
• CIRCULAR DRIVE
• COMMUNITY PARK

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $474/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.8% in Deposit — 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 67/100 on livability (#616 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Deposit Central School District (rural): math 58% / reading 49% proficiency, ranked #417 of 755 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (5.9% local appreciation)).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $153k; list at $300k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1960 — 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. 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.
8. 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.
9. 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: 1.71% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.07%
• DSCR: 2.20
• GRM: 4.9

CMA / ARV

• ARV (median comp): $278,173
• List price: $300,000
• Delta: 7.85%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 3.45×
• Total profit: $206,192
• Equity at exit: $187,262

10-year hold

• IRR: 35.5%
• Equity multiple: 7.10×
• Total profit: $512,597
• Equity at exit: $338,448

Cash invested: $84,000 (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 13754

• Home prices YoY: 2.2%
• Active inventory: 31
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $5,141 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$468 /mo · $5,618/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,080
• Net cashflow: $1,895

Break-even live

Break-even rent $2,742

Max offer price $300,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,140
Total (4 units)			$5,141

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $300,000 Active 143 DOM
2. 2026-06-17
   days on market $300,000 Active 142 DOM
3. 2026-06-16
   days on market $300,000 Active 141 DOM
4. 2026-06-15
   days on market $300,000 Active 140 DOM
5. 2026-06-13
   days on market $300,000 Active 138 DOM
6. 2026-06-12
   days on market $300,000 Active 137 DOM
7. 2026-06-09
   days on market $300,000 Active 134 DOM
8. 2026-06-08
   days on market $300,000 Active 133 DOM
9. 2026-06-07
   days on market $300,000 Active 132 DOM
10. 2026-06-07
    days on market $300,000 Active 131 DOM
11. 2026-06-04
    days on market $300,000 Active 128 DOM
12. 2026-06-02
    days on market $300,000 Active 127 DOM
13. 2026-06-01
    days on market $300,000 Active 126 DOM
14. 2026-05-31
    days on market $300,000 Active 125 DOM
15. 2026-01-26
    listed $300,000 Active 931-char remark

    Show marketing remark (931 chars)

    Historic Charm & Modern Convenience 4 family unit in the village of Deposit. Spacious apartments with large windows and high Victorian ceilings provide a bright and airy atmosphere. If you are looking for a steady income producer 45 Second St has a proven track record of occupancy and is a cornerstone addition to any portfolio. NEWLY ADDED, highly efficient Navien boiler and hot water heaters. Second floor 3-bedroom and 1st floor right hand side apartments are both newly renovated. The 3rd floor and the 1st floor left hand side apartments both have been rented 30 years to the same tenants. The lot is . 36 of an acre with a tenant parking lot and circular drive for convenience. Experience the small-town New York living. Located just steps away from the West Branch of the Delaware River - famed for world-class fly fishing. Walking distance to stores, the newly built community park, movie theater, cafes and diners.

16. 2022-06-14
    soldstatus $153,000
17. 2022-06-09
    soldstatus $153,000
18. 2022-06-09
    soldstatus $153,000
19. 2022-01-01
    listed $170,000
20. 2022-01-01
    listed $170,000
21. 2018-03-02
    listed $145,900
22. 2014-03-05
    soldstatus $118,850
23. 2012-01-20
    listed $114,900
24. 2012-01-20
    listed $114,900

ⓘ 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: $5,618 · $468/mo
• Projected year-2 tax: $5,618 · $468/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 9/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,692
• − Mortgage interest: −$16,805
• − Property taxes: −$5,618
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,935
• − Management: −$4,935
• − Depreciation: −$8,727
• Taxable income: $19,171
• Est. tax owed @ 24.0%: −$4,601
• After-tax cash flow: $18,138/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: Deposit Central School District
• NCES district ID: 3609060
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $40,214
• Composite: 46.65/100
• National rank: #5268
• State rank: #417 of 755 in NY

Livability — Deposit

• Score: 67/100
• State rank: #616
• US rank: #11200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deposit, NY
• Population (ZIP): 2,793

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 274.797
• 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

+161.1% since first listed

10 events — show timeline

• 2026-01-26 Listed $300,000 GBAOR
• 2022-06-14 Sold (Public Records) $153,000 Public Records
• 2022-06-09 Sold (MLS) $153,000 ODBOR
• 2022-06-09 Sold (MLS) $153,000 UNYREIS
• 2022-01-01 Listed $170,000 ODBOR
• 2022-01-01 Listed $170,000 UNYREIS
• 2018-03-02 Listed $145,900 UNYREIS
• 2014-03-05 Sold (Public Records) $118,850 Public Records
• 2012-01-20 Listed $114,900 UNYREIS
• 2012-01-20 Listed $114,900 GBAOR

Property tax history

+0.6%/yr

Latest (2025): $5,618 · +1.6% YoY. Source: county tax records.