2100 Owego Rd Rd

Endicott, NY 13850

$195,000D+

4 bd · 1.0 ba · 1,640 sqft · Built 1890 · Other · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,079/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$648
• HOA: −$0
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-28/mo
• Annual: $-335/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• 1% rule: 1.07%
• Cash to close: $54,600

Investor read

• This is a 4-bed/1.0-bath other listed at $195k.
• At list price, monthly cash flow is $-28 ($-335/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (2.5% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 23 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (2.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#438 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Vestal Central School District (suburban): math 63% / reading 68% proficiency, ranked #168 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Clayton Avenue Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 248 students, 49% FRL); Vestal Middle School (math 45% / reading 64%, grade B-, #214 of 729 statewide, top 31%, 781 students, 31% FRL); Vestal Senior High School (math 100%, 1,000 students, 26% FRL) — zoned schools average 35% FRL vs 17% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.1% of price; flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 90 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 16y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $195k implies a 200% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?