3975 County Line Rd · Gananda, NY 14502

$224,900

3 bd · 2.0 ba · 1,780 sqft · MultiFamily public records · 39 Days on market

Built 1957 0.70 ac lot

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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
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

Key facts

• In-law apartment
• Large breakfast bar
• First floor laundry

Tags

• IN-LAW APARTMENT
• UPDATED EAT-IN KITCHEN
• FIRST FLOOR LAUNDRY
• PRIVATE YARD
• LARGE BREAKFAST BAR
• DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.2% in Gananda — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wayne Central School District (suburban): math 57% / reading 68% proficiency, ranked #194 of 590 in NY (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 49 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wayne County population projected at -24% 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 $63k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. 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.
5. 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.
6. 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: 1.57% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.46%
• DSCR: 1.91
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.8%
• Equity multiple: 1.51×
• Total profit: $32,084
• Equity at exit: $33,533

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $116,609
• Equity at exit: $19,445

Cash invested: $62,972 (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 14502

• Home prices YoY: -26.0%
• Active inventory: 49
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,537 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$448 /mo · $5,372/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$743
• Net cashflow: $1,073

Break-even live

Break-even rent $2,178

Max offer price $224,900

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,776
1× unit	1	1	$1,762
Total (2 units)			$3,537

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
294 Mildahn Rd Walworth, NY	3.0	2.5	1440	$3,000	$2.08	19d	1	1.36mi

Listing history 13 events

1. 2026-04-30
   soldstatus $215,000 Closed 727-char remark

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

2. 2026-03-12
   status Pending

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

3. 2026-03-12
   status Pending 727-char remark

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

4. 2026-03-08
   status Active 727-char remark

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

5. 2026-03-08
   status Active

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

6. 2026-02-25
   status Pending

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

7. 2026-02-25
   status Pending 727-char remark

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

8. 2026-01-21
   listed $224,900 Active 727-char remark

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

9. 2026-01-21
   listed $224,900 Active

   Show marketing remark (727 chars)

   Don’t miss this fantastic opportunity to own a well-maintained ranch-style duplex! The property features a front 2-bedroom unit and a rear 1-bedroom unit, both thoughtfully updated. The front unit offers 2 bedrooms, 1 full bath, a beautifully updated eat-in kitchen, a formal living room, and a separate dining room—perfect for entertaining. The rear unit has been recently updated as well and features 1 bedroom, 1 full bath, and an open-concept layout with a large breakfast bar. Additional highlights include first-floor laundry, a private deck and yard ideal for outdoor relaxation, a 1.5-car heated garage, and ample parking in the double-wide driveway. Also listed as a single family with in-law MLS #R1659091

10. 2022-02-20
    historical
11. 2022-02-10
    listed $189,900 Active
12. 2002-08-27
    soldstatus $115,000
13. 1994-09-30
    soldstatus $101,500

ⓘ 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: $5,372 · $448/mo
• Projected year-2 tax: $5,372 · $448/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,444
• − Mortgage interest: −$12,598
• − Property taxes: −$5,372
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,396
• − Management: −$3,396
• − Depreciation: −$6,543
• Taxable income: $10,016
• Est. tax owed @ 24.0%: −$2,404
• After-tax cash flow: $10,478/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: Wayne Central School District
• NCES district ID: 3630330
• Math proficiency: 57% ▼ -8.00%
• Reading proficiency: 68% ▲ 10.00%
• Median HH income: $61,193
• Composite: 54.18/100
• National rank: #1378
• State rank: #194 of 590 in NY

Livability — Gananda

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 10,515

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Asian 3% Black 1% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Romanian 7% Lithuanian 3%
• Foreign-born: 4% · China, South Korea
• Languages at home: 94% English-only · Russian/Polish/Slavic 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.25%
• Current HPI: 242.5682
• 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

+111.8% since first listed

13 events — show timeline

• 2026-04-30 Sold (MLS) $215,000 UNYREIS
• 2026-03-12 Pending — UNYREIS
• 2026-03-12 Pending — UNYREIS
• 2026-03-08 Relisted — UNYREIS
• 2026-03-08 Relisted — UNYREIS
• 2026-02-25 Pending — UNYREIS
• 2026-02-25 Pending — UNYREIS
• 2026-01-21 Listed $224,900 UNYREIS
• 2026-01-21 Listed $224,900 UNYREIS
• 2022-02-20 Listing Removed — UNYREIS
• 2022-02-10 Listed $189,900 UNYREIS
• 2002-08-27 Sold (Public Records) $115,000 Public Records
• 1994-09-30 Sold (Public Records) $101,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,372 · +1.6% YoY. Source: county tax records.