159 Laurel Rd · Greene, NY 13778

$29,900

2 bd · 1.5 ba · 510 sqft · SingleFamily public records · 74 Days on market

Built 1936 5,662 sqft lot $59/sqft · 41% below area ↓ 12% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

Key facts

• 2-car carport
• Level lot
• Creek-side paradise

Tags

• LEVEL LOT
• 2-CAR CARPORT
• WATERFRONT RETREAT
• CREEK-SIDE PARADISE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#407 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, health & safety D, amenities F.
• Greene Central School District (rural): math 56% / reading 58% proficiency, ranked #282 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($207 loan paydown + $3k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $20k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1936 — 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 $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — 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 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?
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 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: 3.78% ✓
• Cap rate: 33.87%
• Cash-on-cash: 98.51%
• DSCR: 5.38
• GRM: 2.2

CMA / ARV

• ARV (median comp): $67,999
• List price: $29,900
• Delta: -56.03%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 90.5%
• Equity multiple: 7.23×
• Total profit: $52,174
• Equity at exit: $26,936

10-year hold

• IRR: 85.4%
• Equity multiple: 16.01×
• Total profit: $125,682
• Equity at exit: $58,089

Cash invested: $8,372 (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 13778

• Home prices YoY: 13.7%
• Active inventory: 19
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $562

Break-even live

Break-even rent $420

Max offer price $29,900

Occupancy floor 45%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-15
   status Pending 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

2. 2026-04-29
   price $29,900 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

3. 2026-04-10
   status Active 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

4. 2026-03-19
   status Pending 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

5. 2026-03-14
   price $39,900 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

6. 2026-02-09
   listed $49,900 Active 475-char remark

   Show marketing remark (475 chars)

   Bring your vision to life! This charming summer cottage sits on a beautiful, level lot directly on the Geneganslet Creek, offering the perfect canvas for your dream waterfront retreat. Featuring a convenient 2-car carport and a prime location for relaxation, this property is ready for a full "re-do" to match your style. Whether you’re looking for a weekend DIY project or a complete transformation, this is your chance to own a slice of creek-side paradise.

7. 2009-07-10
   soldstatus $51,064
8. 2009-07-08
   soldstatus $51,064 144-char remark

   Show marketing remark (144 chars)

   Cute and cozy home on Geneganslet creek, 2 car carport, fenced in yard, newer windows and doors, all appliances stay!! bring your fishing pole!!

9. 2008-12-28
   listed $55,000 144-char remark

   Show marketing remark (144 chars)

   Cute and cozy home on Geneganslet creek, 2 car carport, fenced in yard, newer windows and doors, all appliances stay!! bring your fishing pole!!

10. 2004-10-26
    soldstatus $25,000
11. 1999-03-11
    soldstatus $37,810
12. 1995-08-11
    soldstatus $34,000

ⓘ 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 5/10 Major FEMA zone A · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $13,578
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$1,652
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$870
• Taxable income: $6,760
• Est. tax owed @ 24.0%: −$1,622
• After-tax cash flow: $5,122/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: Greene Central School District
• NCES district ID: 3612750
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 58% ▲ 8.00%
• Median HH income: $52,876
• Composite: 48.86/100
• National rank: #2084
• State rank: #282 of 590 in NY

Livability — Greene

• Score: 71/100
• State rank: #407
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,139

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 2%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 37.30%
• Current HPI: 309.9264
• 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

-12.1% since first listed

12 events — show timeline

• 2026-05-15 Pending — GBAOR
• 2026-04-29 Price Changed $29,900 GBAOR
• 2026-04-10 Relisted — GBAOR
• 2026-03-19 Pending — GBAOR
• 2026-03-14 Price Changed $39,900 GBAOR
• 2026-02-09 Listed $49,900 GBAOR
• 2009-07-10 Sold (Public Records) $51,064 Public Records
• 2009-07-08 Sold (MLS) $51,064 GBAOR
• 2008-12-28 Listed $55,000 GBAOR
• 2004-10-26 Sold (Public Records) $25,000 Public Records
• 1999-03-11 Sold (Public Records) $37,810 Public Records
• 1995-08-11 Sold (Public Records) $34,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,811 · -0.1% YoY. Source: county tax records.