202 William St · Waverly, NY 14892

$209,900

28 bd · 16.0 ba · 5,317 sqft · MultiFamily public records · 196 Days on market

Built 1940 0.38 ac lot

---

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
• Appreciation +6.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

4 family in Waverly with income from day one. Features a large 2 car garage, ample off-street parking, and a nice sized lot. Strong rental history. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

Key facts

• Large 2-car garage
• Nice-sized lot
• 0.38 acre lot

Tags

• LARGE 2-CAR GARAGE
• AMPLE OFF-STREET PARKING
• NICE-SIZED LOT
• STRONG RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $660/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 4.6% in Waverly — 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 67/100 on livability (#569 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Waverly Central School District (town): math 41% / reading 46% proficiency, ranked #480 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (2.8% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.
• Current owner paid $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.56% ✓
• Cap rate: 21.40%
• Cash-on-cash: 53.94%
• DSCR: 3.40
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.7%
• Equity multiple: 4.25×
• Total profit: $191,274
• Equity at exit: $91,771

10-year hold

• IRR: 58.5%
• Equity multiple: 8.63×
• Total profit: $448,438
• Equity at exit: $139,435

Cash invested: $58,772 (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 14892

• Home prices YoY: 1.2%
• Active inventory: 53
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $5,367 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$410 /mo · $4,917/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,127
• Net cashflow: $2,642

Break-even live

Break-even rent $2,023

Max offer price $209,900

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$5,368
Total (4 units)			$5,367

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-20
   soldstatus $165,000 344-char remark

   Show marketing remark (344 chars)

   4 family in Waverly with income from day one. Features a large 2 car garage, ample off-street parking, and a nice sized lot. Strong rental history. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

2. 2026-03-25
   status Pending 391-char remark

   Show marketing remark (391 chars)

   Fully occupied 4-family in Waverly with income from day one. Features a large 2-car garage, ample off-street parking, and a nice-sized lot. Strong rental history and fully occupied with tenants. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

3. 2026-03-25
   status Pending

   Show marketing remark (391 chars)

   Fully occupied 4-family in Waverly with income from day one. Features a large 2-car garage, ample off-street parking, and a nice-sized lot. Strong rental history and fully occupied with tenants. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

4. 2025-12-26
   status Active 391-char remark

   Show marketing remark (391 chars)

   Fully occupied 4-family in Waverly with income from day one. Features a large 2-car garage, ample off-street parking, and a nice-sized lot. Strong rental history and fully occupied with tenants. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

5. 2025-12-03
   status Pending 391-char remark

   Show marketing remark (391 chars)

   Fully occupied 4-family in Waverly with income from day one. Features a large 2-car garage, ample off-street parking, and a nice-sized lot. Strong rental history and fully occupied with tenants. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

6. 2025-09-03
   listed $209,900 Active
7. 2025-09-02
   listed $209,900 Active 391-char remark

   Show marketing remark (344 chars)

   4 family in Waverly with income from day one. Features a large 2 car garage, ample off-street parking, and a nice sized lot. Strong rental history. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

8. 2025-09-02
   listed $209,900 344-char remark

   Show marketing remark (344 chars)

   4 family in Waverly with income from day one. Features a large 2 car garage, ample off-street parking, and a nice sized lot. Strong rental history. Great opportunity for investors seeking immediate cash flow. Walking distance to Broad Street, Waverly's commercial district, Village Hall, post office, and Waverly schools. Schedule to see today!

9. 2004-03-01
   soldstatus $85,000
10. 1996-12-04
    soldstatus $64,000

ⓘ 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: $4,917 · $410/mo
• Projected year-2 tax: $4,917 · $410/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 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: $64,404
• − Mortgage interest: −$11,758
• − Property taxes: −$4,917
• − Insurance: −$1,050
• − Repairs & maintenance: −$5,152
• − Management: −$5,152
• − Depreciation: −$6,106
• Taxable income: $30,269
• Est. tax owed @ 24.0%: −$7,265
• After-tax cash flow: $24,439/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: Waverly Central School District
• NCES district ID: 3630270
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▲ 8.00%
• Median HH income: $44,935
• Composite: 36.9/100
• National rank: #4544
• State rank: #480 of 590 in NY

Livability — Waverly

• Score: 67/100
• State rank: #569
• US rank: #10246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, NY
• Population (ZIP): 7,531

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1% Asian 1%
• Common ancestry: Iranian 3% Romanian 3% Italian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.78%
• Current HPI: 236.7714
• 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

+157.8% since first listed

10 events — show timeline

• 2026-05-20 Sold (MLS) $165,000 NMPA
• 2026-03-25 Pending — GBAOR
• 2026-03-25 Pending — UNYREIS
• 2025-12-26 Relisted — GBAOR
• 2025-12-03 Pending — GBAOR
• 2025-09-03 Listed $209,900 UNYREIS
• 2025-09-02 Listed $209,900 GBAOR
• 2025-09-02 Listed $209,900 NMPA
• 2004-03-01 Sold (Public Records) $85,000 Public Records
• 1996-12-04 Sold (Public Records) $64,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,917 · +4.6% YoY. Source: county tax records.