12 Hancock Rd · Chenango Bridge, NY 13833

$72,500

3 bd · 2.0 ba · 1,660 sqft · SingleFamily public records · 45 Days on market

Built 1920 1.35 ac lot $44/sqft · 38% below area Est $117k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great spring/Summer project! This Farmhouse on 2.35 acres offers lots or room both inside and out! Large kitchen, good size bedrooms, a first floor laundry room with pantry shelves. First floor bathroom off the kitchen and one upstairs! Space everywhere you look! Chenango Valley school district. Close by vehicle to the City of Binghamton. No owner financing or rent to own here. Special addendums may apply. Home is being sold as is.

Key facts

• City of binghamton
• Pantry shelves
• 2.35 acres

Tags

• 2.35 ACRES
• FIRST FLOOR LAUNDRY ROOM
• PANTRY SHELVES
• CITY OF BINGHAMTON

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Utilities/heating referenced in remarks
• Home design: 2-story residence; Existing property (resale)
• Construction: Aluminum siding; Stone foundation
• Exterior features: Irregular, rural lot; Lot dimensions approximately 70 x 75; Lot area about 1.35 acres

Interior

• Kitchen: Country-style kitchen
• Bedrooms: Total of 7 rooms including a bonus room
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Heating details listed in remarks
• Interior features: Country kitchen; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 4.0% in Chenango Bridge — 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 69/100 on livability (#505 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment B+; Watch: schools D+, amenities F, commute F.
• Chenango Valley Central School District (suburban): math 47% / reading 57% proficiency, ranked #339 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($501 loan paydown + $7k appreciation (10.0% local appreciation)).
• Broome County population projected at -13% 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,325 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1920 — 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. 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.
6. 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.
7. 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: 1.96% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.75%
• DSCR: 2.64
• GRM: 4.3

CMA / ARV

• ARV (median comp): $117,475
• List price: $72,500
• Delta: -38.28%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 52.6%
• Equity multiple: 4.90×
• Total profit: $79,107
• Equity at exit: $65,314

10-year hold

• IRR: 46.2%
• Equity multiple: 10.94×
• Total profit: $201,858
• Equity at exit: $140,852

Cash invested: $20,300 (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 13833

• Home prices YoY: 15.7%
• Active inventory: 14
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,421 medium
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $622

Break-even live

Break-even rent $634

Max offer price $72,500

Occupancy floor 51%

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $72,500 Active 45 DOM
2. 2026-06-18
   days on market $72,500 Active 44 DOM
3. 2026-06-17
   days on market $72,500 Active 43 DOM
4. 2026-06-16
   days on market $72,500 Active 42 DOM
5. 2026-06-15
   days on market $72,500 Active 41 DOM
6. 2026-06-14
   days on market $72,500 Active 39 DOM
7. 2026-06-13
   days on market $72,500 Active 38 DOM
8. 2026-06-10
   days on market $72,500 Active 36 DOM
9. 2026-06-09
   days on market $72,500 Active 35 DOM
10. 2026-06-08
    pricedays on market $72,500 Active 34 DOM
11. 2026-06-07
    days on market $79,900 Active 33 DOM
12. 2026-06-03
    days on market $79,900 Active 29 DOM
13. 2026-06-02
    days on market $79,900 Active 28 DOM
14. 2026-06-01
    days on market $79,900 Active 27 DOM
15. 2026-05-31
    days on market $79,900 Active 26 DOM
16. 2026-05-30
    days on market $79,900 Active 25 DOM
17. 2026-05-05
    listed $79,900 Active 437-char remark
18. 2024-03-03
    status Pending
19. 2023-11-09
    status Active
20. 2023-11-08
    price $45,000
21. 2023-10-24
    price $59,900
22. 2023-05-09
    listed $70,000 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 7/10 Severe 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°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: $17,055
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$2,109
• Taxable income: $6,706
• Est. tax owed @ 24.0%: −$1,609
• After-tax cash flow: $5,852/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: Chenango Valley Central School District
• NCES district ID: 3607290
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $53,938
• Composite: 44.78/100
• National rank: #2745
• State rank: #339 of 590 in NY

Livability — Chenango Bridge

• Score: 69/100
• State rank: #505
• US rank: #8828

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,176

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 4% Iranian 3% Lithuanian 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.75%
• Current HPI: 300.1045
• 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

+3.6% since first listed

7 events — show timeline

• 2026-06-07 Price Changed $72,500 UNYREIS
• 2026-05-05 Listed $79,900 UNYREIS
• 2024-03-03 Pending — GBAOR
• 2023-11-09 Relisted — GBAOR
• 2023-11-08 Price Changed $45,000 GBAOR
• 2023-10-24 Price Changed $59,900 GBAOR
• 2023-05-09 Listed $70,000 GBAOR

Property tax history

+3.0%/yr

Latest (2025): $3,772 · -3.1% YoY. Source: county tax records.