8665 State Highway 56 · Norfolk, NY 13678

$74,900

2 bd · 1.0 ba · 900 sqft · SingleFamily · 13 Days on market

Built 1900 Fair condition 9,420 sqft lot Est $76k · at est.

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Why this score? — see what drove the C+ 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.9/15.0
• 1% rule +6.6/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

WELCOME TO 8665 STATE HIGHWAY 56 IN RAYMONDVILLE! This charming 2 bedroom, 1 bathroom home offers comfort, convenience, and plenty of potential. Featuring main floor laundry, an enclosed front porch, a detached 2-car garage, and a paved driveway, this property is ready for its next owners to make it their own. As you step inside, you are welcomed by a cozy living room that flows nicely into the dining room, creating a warm and inviting space for everyday living or entertaining. The kitchen offers room for a small table, making it a perfect spot for casual meals. The two bedrooms and full bathroom are conveniently located just off the living and dining areas. Off the kitchen, you will find t

Key facts

• Flexible space
• Main floor laundry
• Paved driveway

Tags

• MAIN FLOOR LAUNDRY
• ENCLOSED FRONT PORCH
• DETACHED 2-CAR GARAGE
• PAVED DRIVEWAY
• FLEXIBLE SPACE
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $75k).

Location & tenants

• Location reads 64/100 on livability (#737 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime F.
• Norwood-Norfolk Central School District (rural): math 30% / reading 36% proficiency, ranked #568 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($518 loan paydown + $2k appreciation (3.0% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.16% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $75,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Pleasant Dr	0.51mi	2/1.0	832 (-8%)	10mo	$70,000	$84	55

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

Projected returns pro-forma

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

5-year hold

• IRR: 16.7%
• Equity multiple: 1.95×
• Total profit: $19,949
• Equity at exit: $33,678

10-year hold

• IRR: 18.2%
• Equity multiple: 3.66×
• Total profit: $55,752
• Equity at exit: $51,902

Cash invested: $20,972 (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 13678

• Active inventory: 2
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $872 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $171

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 75%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-23
   status Pending
2. 2026-04-09
   listed $74,900 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 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: $10,465
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$2,179
• Taxable income: $918
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $1,836/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the roof, exterior siding, flooring, interior walls, and bathroom. Painting and updating these areas can significantly enhance the home's curb appeal and attract potential buyers or renters.

Repairs flagged

• Major roof — Aging roof may need replacement to prevent leaks.
• Major exterior siding — Weathered siding needs repainting or replacement.
• Major flooring — Worn carpet needs replacement or refinishing.
• Major interior walls — Peeling paint and discoloration require repainting.
• Major bathroom — Outdated fixtures and tiles need updating.

Value-add opportunities

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal.
• Rental Re-carpeting or refinishing floors — Fresh flooring can attract renters looking for a clean space.
• Resale Repainting interior walls — Fresh paint can make the interior look more modern and inviting.
• Resale Updating bathroom fixtures and tiles — Modernizing the bathroom can increase the home's overall appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Aging roof may need replacement to prevent leaks.	Major	$15,000–50,000
exterior siding · Weathered siding needs repainting or replacement.	Major	$15,000–50,000
flooring · Worn carpet needs replacement or refinishing.	Major	$15,000–50,000
interior walls · Peeling paint and discoloration require repainting.	Major	$15,000–50,000
bathroom · Outdated fixtures and tiles need updating.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal. ↑
• Rental Re-carpeting or refinishing floors — Fresh flooring can attract renters looking for a clean space. ↑
• Resale Repainting interior walls — Fresh paint can make the interior look more modern and inviting. ↑
• Resale Updating bathroom fixtures and tiles — Modernizing the bathroom can increase the home's overall appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Norwood-Norfolk Central School District
• NCES district ID: 3621360
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $43,492
• Composite: 28.05/100
• National rank: #6841
• State rank: #568 of 590 in NY

Livability — Norfolk

• Score: 64/100
• State rank: #737
• US rank: #14031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2026-04-23 Pending — SLCMLS
• 2026-04-09 Listed $74,900 SLCMLS