4555 State Route 79 · Burdett, NY 14818

$174,900

3 bd · 1.5 ba · 1,860 sqft · SingleFamily public records · 481 Days on market

Built 1890 1.52 ac lot $94/sqft · 16% below area Est $208k · 16% under ↓ 20% since listing

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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 +17.7/30.0
• ARV discount +14.6/15.0
• Appreciation +7.6/10.0
• DSCR +5.5/10.0
• 1% rule +5.1/10.0
• Schools +3.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

Key facts

• Huge private yard
• Attached carport
• Closed in porch

Tags

• OVER 1-1/2 ACRES
• CLOSED IN PORCH
• ATTACHED CARPORT
• DETACHED GARAGE
• HUGE PRIVATE YARD
• TWO TIER DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,048 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: health & safety D, schools D-, crime F.
• Watkins Glen Central School District (town): math 42% / reading 46% proficiency, ranked #472 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.2% local appreciation)).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 481 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $45k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 481 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.01% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• GRM: 8.3

CMA / ARV

• ARV (median comp): $207,537
• List price: $174,900
• Delta: -15.73%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3855 Texas Hollow Rd	0.72mi	2/2.0 (-1)	1,820 (-2%)	7mo	$295,000	$162	50

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

Projected returns pro-forma

5.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.05×
• Total profit: $51,446
• Equity at exit: $101,450

10-year hold

• IRR: 16.6%
• Equity multiple: 4.00×
• Total profit: $146,974
• Equity at exit: $177,052

Cash invested: $48,972 (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 14818

• Home prices YoY: 1.7%
• Active inventory: 20
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,762 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$262 /mo · $3,148/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $139

Break-even live

Break-even rent $1,585

Max offer price $174,900

Occupancy floor 87%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-09
   days on market $174,900 Active 481 DOM
2. 2026-06-08
   days on market $174,900 Active 480 DOM
3. 2026-06-07
   days on market $174,900 Active 479 DOM
4. 2026-06-07
   days on market $174,900 Active 478 DOM
5. 2026-06-04
   days on market $174,900 Active 475 DOM
6. 2026-06-02
   days on market $174,900 Active 474 DOM
7. 2026-06-01
   days on market $174,900 Active 473 DOM
8. 2026-05-31
   days on market $174,900 Active 472 DOM
9. 2026-03-04
   price $174,900 559-char remark

   Show marketing remark (559 chars)

   Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

10. 2026-02-28
    status Active 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

11. 2026-02-27
    historical Active Under Contract 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

12. 2025-08-28
    price $185,000 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

13. 2025-08-24
    status Active 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

14. 2025-07-18
    historical Active Under Contract 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

15. 2025-07-02
    price $199,000 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

16. 2024-09-17
    listed $219,900 Active 559-char remark

    Show marketing remark (559 chars)

    Farmhouse in need of some TLC on over 1-1/2 acres Only five miles to the Village of Watkins Glen and Seneca Lake. Easy commute to Ithaca. Plenty of living space with three bedrooms and full bath on the second floor. A closed in porch as well as an attached carport and a 36 x 24 detached garage/ workshop. Huge private yard is like living in a park. Two tier deck overlooking the back yard, second tier is private from the main bedroom. Two driveways for plenty of parking. Property is now rented, please allow 24 to 48 hours' notice for all showing requests.

ⓘ 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: $3,148 · $262/mo
• Projected year-2 tax: $3,148 · $262/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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,142
• − Mortgage interest: −$9,797
• − Property taxes: −$3,148
• − Insurance: −$874
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$5,088
• Taxable loss: −$1,148
• Est. tax savings @ 24.0%: +$275
• After-tax cash flow: $1,949/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: Watkins Glen Central School District
• NCES district ID: 3630240
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $47,157
• Composite: 37.53/100
• National rank: #4395
• State rank: #472 of 590 in NY

Livability — Burdett

• Score: 58/100
• State rank: #1048
• US rank: #20801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,819

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Portuguese 7% Slovak 3%
• Foreign-born: 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.22%
• Current HPI: 308.3893
• 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

-20.5% since first listed

8 events — show timeline

• 2026-03-04 Price Changed $174,900 UNYREIS
• 2026-02-28 Relisted — UNYREIS
• 2026-02-27 Contingent — UNYREIS
• 2025-08-28 Price Changed $185,000 UNYREIS
• 2025-08-24 Relisted — UNYREIS
• 2025-07-18 Contingent — UNYREIS
• 2025-07-02 Price Changed $199,000 UNYREIS
• 2024-09-17 Listed $219,900 UNYREIS

Property tax history

+3.6%/yr

Latest (2025): $3,148 · +1.9% YoY. Source: county tax records.