39081 Rt 187 · Nichols, NY 18837

$114,000

4 bd · 2.0 ba · 1,404 sqft · SingleFamily · 258 Days on market

Built 1890 1.00 ac lot $81/sqft · 35% below area Est $175k · 35% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Appreciation +6.8/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for an investment property or a starter home? Here it is! Older 2 story 4 bedroom / 2 bath home in country setting. Large rooms throughout with newer laminate flooring in main livinf areas & carpet in the bedrooms. The front porch is ideal for relaxation & the ample yard allows for entrtaining large gatherings. Minutes away for the NY border, you will lots of opportunities for shopping & entertaiment in the Vestal / Binghamton areas. With taxes UNDER $900, this home is quite affordable. Call for your appointment today.

Key facts

• 1 acre lot
• Built 1890
• Listed 258 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#908 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools F, crime F, amenities F.
• Northeast Bradford SD (rural): math 40% / reading 55% proficiency, ranked #235 of 539 in PA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 units permitted in Bradford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($788 loan paydown + $4k appreciation (3.7% local appreciation)).
• Bradford County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, 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 258 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $55k; list at $114k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 258 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (median comp): $175,051
• List price: $114,000
• Delta: -34.88%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

3.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.08×
• Total profit: $34,584
• Equity at exit: $55,703

10-year hold

• IRR: 19.2%
• Equity multiple: 3.97×
• Total profit: $94,904
• Equity at exit: $89,472

Cash invested: $31,920 (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 18837

• Home prices YoY: 2.3%
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$78 /mo · $930/yr
• Insurance: −$48
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $261

Break-even live

Break-even rent $1,073

Max offer price $114,000

Occupancy floor 76%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   status $114,000 Pending 258 DOM
2. 2026-06-18
   days on market $114,000 Active 258 DOM
3. 2026-06-17
   days on market $114,000 Active 257 DOM
4. 2026-06-16
   days on market $114,000 Active 256 DOM
5. 2026-06-15
   days on market $114,000 Active 255 DOM
6. 2026-06-14
   days on market $114,000 Active 253 DOM
7. 2026-06-12
   days on market $114,000 Active 252 DOM
8. 2026-06-09
   days on market $114,000 Active 249 DOM
9. 2026-06-08
   days on market $114,000 Active 248 DOM
10. 2026-06-07
    days on market $114,000 Active 247 DOM
11. 2026-06-05
    days on market $114,000 Active 245 DOM
12. 2026-06-04
    days on market $114,000 Active 243 DOM
13. 2026-06-02
    days on market $114,000 Active 242 DOM
14. 2026-06-01
    days on market $114,000 Active 241 DOM
15. 2026-05-31
    days on market $114,000 Active 240 DOM
16. 2026-05-31
    days on market $114,000 Active 239 DOM
17. 2025-12-17
    price $114,000 550-char remark

    Show marketing remark (550 chars)

    Looking for an investment property or a starter home? Here it is! Older 2 story 4 bedroom / 2 bath home in country setting. Large rooms throughout with newer laminate flooring in main livinf areas & carpet in the bedrooms. The front porch is ideal for relaxation & the ample yard allows for entrtaining large gatherings. Minutes away for the NY border, you will lots of opportunities for shopping & entertaiment in the Vestal / Binghamton areas. With taxes UNDER $900, this home is quite affordable. Call for your appointment today.

18. 2025-11-05
    price $119,000 550-char remark

    Show marketing remark (550 chars)

    Looking for an investment property or a starter home? Here it is! Older 2 story 4 bedroom / 2 bath home in country setting. Large rooms throughout with newer laminate flooring in main livinf areas & carpet in the bedrooms. The front porch is ideal for relaxation & the ample yard allows for entrtaining large gatherings. Minutes away for the NY border, you will lots of opportunities for shopping & entertaiment in the Vestal / Binghamton areas. With taxes UNDER $900, this home is quite affordable. Call for your appointment today.

19. 2025-10-04
    price $124,000 550-char remark

    Show marketing remark (550 chars)

    Looking for an investment property or a starter home? Here it is! Older 2 story 4 bedroom / 2 bath home in country setting. Large rooms throughout with newer laminate flooring in main livinf areas & carpet in the bedrooms. The front porch is ideal for relaxation & the ample yard allows for entrtaining large gatherings. Minutes away for the NY border, you will lots of opportunities for shopping & entertaiment in the Vestal / Binghamton areas. With taxes UNDER $900, this home is quite affordable. Call for your appointment today.

20. 2025-10-03
    listed $119,000 Active 550-char remark

    Show marketing remark (550 chars)

    Looking for an investment property or a starter home? Here it is! Older 2 story 4 bedroom / 2 bath home in country setting. Large rooms throughout with newer laminate flooring in main livinf areas & carpet in the bedrooms. The front porch is ideal for relaxation & the ample yard allows for entrtaining large gatherings. Minutes away for the NY border, you will lots of opportunities for shopping & entertaiment in the Vestal / Binghamton areas. With taxes UNDER $900, this home is quite affordable. Call for your appointment today.

21. 2023-05-30
    soldstatus $54,579
22. 2023-05-16
    soldstatus $52,866
23. 2022-06-27
    soldstatus $93,000 712-char remark

    Show marketing remark (712 chars)

    CONTEMPORARY FLAIR enhances this spacious 2 story home in Northeast School District. The newly updated kitchen welcomes you into the home with modern appeal. No matter which way you turn you will find an abundance of space in this huge home. This is a 4 bedroom home, but with bonus rooms galore, there could be as many as 6 bedrooms if needed! Living room is all ready for you to drop in a pellet stove or wood burning pot-belly stove to really take the chill off of these cold winter days. Need room to run outside too? The huge backyard has room for a garden, a pool, or any of your other outdoor hobbies! With new wiring, fresh flooring and paint throughout, all you need to do is bring your bags and unpack!

24. 2022-01-27
    listed $85,000 712-char remark

    Show marketing remark (712 chars)

    CONTEMPORARY FLAIR enhances this spacious 2 story home in Northeast School District. The newly updated kitchen welcomes you into the home with modern appeal. No matter which way you turn you will find an abundance of space in this huge home. This is a 4 bedroom home, but with bonus rooms galore, there could be as many as 6 bedrooms if needed! Living room is all ready for you to drop in a pellet stove or wood burning pot-belly stove to really take the chill off of these cold winter days. Need room to run outside too? The huge backyard has room for a garden, a pool, or any of your other outdoor hobbies! With new wiring, fresh flooring and paint throughout, all you need to do is bring your bags and unpack!

25. 2013-08-19
    soldstatus $65,000

ⓘ 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: $930 · $78/mo
• Projected year-2 tax: $1,428 · $119/mo
• Expected delta: +$498/yr (+$42/mo · 53.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,845
• − Mortgage interest: −$6,386
• − Property taxes: −$930
• − Insurance: −$2,072
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$3,316
• Taxable income: $1,445
• Est. tax owed @ 24.0%: −$347
• After-tax cash flow: $2,784/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: Northeast Bradford SD
• NCES district ID: 4217460
• Math proficiency: 40% ▼ -4.00%
• Reading proficiency: 55% ▼ -7.00%
• Median HH income: $46,193
• Composite: 40.29/100
• National rank: #3761
• State rank: #235 of 539 in PA

Livability — Nichols

• Score: 61/100
• State rank: #908
• US rank: #17764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,710

Population outlook (Bradford County) Hauer SSP2

• Today (2025): 57,236 people
• By 2030: 54,660 · -4.5%
• By 2040: 49,502 · -13.5%
• By 2050: 44,277 · -22.6%
• By 2075: 33,420 · -41.6%
• By 2100: 22,919 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Iranian 2% Polish 2%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Bradford

• 2024 margin: Solid R (+47.9) · D 25.6% · R 73.5%
• 2008→2024 swing: -29.5pp toward R · 2008: -18.4pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+44.9 2016: R+46.0 2012: R+24.6 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.68%
• Current HPI: 166.1363
• 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

+75.4% since first listed

9 events — show timeline

• 2025-12-17 Price Changed $114,000 NMPA
• 2025-11-05 Price Changed $119,000 NMPA
• 2025-10-04 Price Changed $124,000 NMPA
• 2025-10-03 Listed $119,000 NMPA
• 2023-05-30 Sold (Public Records) $54,579 Public Records
• 2023-05-16 Sold (Public Records) $52,866 Public Records
• 2022-06-27 Sold (MLS) $93,000 NMPA
• 2022-01-27 Listed $85,000 NMPA
• 2013-08-19 Sold (Public Records) $65,000 Public Records

Property tax history

+2.8%/yr

Latest (2026): $930 · +6.2% YoY. Source: county tax records.