56 N Main St · Bainbridge, NY 13733

$160,000

6 bd · 2.0 ba · 2,790 sqft · MultiFamily public records · 57 Days on market

Built 1860 0.30 ac lot $57/sqft · 37% below area Est $256k · 37% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.3/10.0
• Schools +4.1/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Beautiful Large Victorian Home built to last in1884. Kept up-to-date with newer electric, efficient propane furnace 2020, new roof 2018 and exterior paint completed in 2019. Newer stainless steal appliances. Kitchen has a gourmet commercial range with 2 ovens. Pantry cupboards, breakfast nook with patio door leading to outside deck! Sink/island countertop and seating area. Wood fireplace and bar leading into Laundry/ mudroom off kitchen. Beautiful entryway with open staircase to second floor with 5-6 bedrooms possible and a full bathroom. The main floor has 2 parlors with working fireplace. Large Dining room w/ alcove area, office space and bathroom. This home was built in an era with a back staircase for maids . There are some stained glass windows, connecting rooms and even an indoor outhouse! Spacious rooms with tall ceilings and full attic. So many possibilities. Carport and storage and a one car detached garage. Lovely, quaint community within walking distance to banks, PO, stores, restaurants and schools.

Key facts

• Renovated apartments
• Metal roof
• Upgraded kitchen

Tags

• TWO FAMILY HOME
• RENOVATED APARTMENTS
• UPGRADED KITCHEN
• METAL ROOF
• WELL LANDSCAPED YARDS
• OVERSIZED GARAGE

Property features AI

Finance

• Financial info: Owner pays grounds care, snow removal, and water; Tenants pay all utilities; Rent includes gardener, snow removal, and water for units; Two units with separate electric meters; Operating expenses include insurance, structure maintenance, and water/sewer; Both units are month-to-month; Current rent listed as $800 for each unit

Exterior

• Parking: Has garage (1 car); Common parking; Gravel parking; Two or more parking spaces available
• Utilities: Public water connected; Sewer connected; Circuit breaker electric; Cable available; High-speed internet available
• Home design: Two-story multi-unit residential (2 units); Residential 2-unit zoning; Entry level information not provided; Facing direction not provided
• Construction: Frame construction; Copper and PEX plumbing; Metal roof; Stone foundation; Existing (previously built) condition
• Exterior features: Private yard; Partial fencing; Covered porch; Porch; Propane tank (leased); See remarks

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms; Bedroom on main level
• Flooring: Hardwood; Laminate; Vinyl; Varies
• Bathrooms: Two full bathrooms total (one in each unit)
• Heating & cooling: Multiple heating units; Electric heating; Gas heating; Oil heating; Baseboard heating; Forced air
• Interior features: Ceiling fans; Natural woodwork; Accessible bedroom; Thermal windows; Partial basement
• Laundry & utility: Washer hookup; Washer and dryer provided in units; Propane water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive. Per door: $273/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#561 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, health & safety D, amenities F.
• Bainbridge-Guilford Central School District (rural): math 40% / reading 57% proficiency, ranked #418 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% 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 $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $29k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.44% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.65%
• DSCR: 1.65
• GRM: 5.8

CMA / ARV

• ARV (median comp): $255,804
• List price: $160,000
• Delta: -37.45%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.1%
• Equity multiple: 3.73×
• Total profit: $122,099
• Equity at exit: $144,141

10-year hold

• IRR: 30.3%
• Equity multiple: 8.42×
• Total profit: $332,441
• Equity at exit: $310,845

Cash invested: $44,800 (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 13733

• Home prices YoY: 13.9%
• Active inventory: 29
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,296 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$361 /mo · $4,336/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $547

Break-even live

Break-even rent $1,604

Max offer price $160,000

Occupancy floor 71%

Sensitivity live

Price	-10% $637	-5% $592	+0% $547	+5% $501	+10% $456
Rent	-10% $365	-5% $456	+0% $547	+5% $637	+10% $728
Rate	-1.0pp $627	-0.5pp $587	base $547	+0.5pp $505	+1.0pp $463

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,296
Total (2 units)			$2,296

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $160,000 Active 57 DOM
2. 2026-06-18
   days on market $160,000 Active 55 DOM
3. 2026-06-17
   days on market $160,000 Active 54 DOM
4. 2026-06-16
   days on market $160,000 Active 53 DOM
5. 2026-06-15
   days on market $160,000 Active 52 DOM
6. 2026-06-13
   days on market $160,000 Active 50 DOM
7. 2026-06-12
   days on market $160,000 Active 49 DOM
8. 2026-06-09
   days on market $160,000 Active 46 DOM
9. 2026-06-08
   days on market $160,000 Active 45 DOM
10. 2026-06-07
    days on market $160,000 Active 44 DOM
11. 2026-06-07
    days on market $160,000 Active 43 DOM
12. 2026-06-04
    days on market $160,000 Active 40 DOM
13. 2026-06-02
    days on market $160,000 Active 39 DOM
14. 2026-06-01
    days on market $160,000 Active 38 DOM
15. 2026-05-31
    days on market $160,000 Active 37 DOM
16. 2026-04-24
    listed $189,000 Active 758-char remark
17. 2023-10-25
    soldstatus $282,000 Closed Sale or Rented 1026-char remark

    Show marketing remark (1026 chars)

    Beautiful Large Victorian Home built to last in1884. Kept up-to-date with newer electric, efficient propane furnace 2020, new roof 2018 and exterior paint completed in 2019. Newer stainless steal appliances. Kitchen has a gourmet commercial range with 2 ovens. Pantry cupboards, breakfast nook with patio door leading to outside deck! Sink/island countertop and seating area. Wood fireplace and bar leading into Laundry/ mudroom off kitchen. Beautiful entryway with open staircase to second floor with 5-6 bedrooms possible and a full bathroom. The main floor has 2 parlors with working fireplace. Large Dining room w/ alcove area, office space and bathroom. This home was built in an era with a back staircase for maids . There are some stained glass windows, connecting rooms and even an indoor outhouse! Spacious rooms with tall ceilings and full attic. So many possibilities. Carport and storage and a one car detached garage. Lovely, quaint community within walking distance to banks, PO, stores, restaurants and schools.

18. 2023-09-28
    status Pending Sale 1026-char remark

    Show marketing remark (1026 chars)

    Beautiful Large Victorian Home built to last in1884. Kept up-to-date with newer electric, efficient propane furnace 2020, new roof 2018 and exterior paint completed in 2019. Newer stainless steal appliances. Kitchen has a gourmet commercial range with 2 ovens. Pantry cupboards, breakfast nook with patio door leading to outside deck! Sink/island countertop and seating area. Wood fireplace and bar leading into Laundry/ mudroom off kitchen. Beautiful entryway with open staircase to second floor with 5-6 bedrooms possible and a full bathroom. The main floor has 2 parlors with working fireplace. Large Dining room w/ alcove area, office space and bathroom. This home was built in an era with a back staircase for maids . There are some stained glass windows, connecting rooms and even an indoor outhouse! Spacious rooms with tall ceilings and full attic. So many possibilities. Carport and storage and a one car detached garage. Lovely, quaint community within walking distance to banks, PO, stores, restaurants and schools.

19. 2022-09-28
    listed $325,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    Beautiful Large Victorian Home built to last in1884. Kept up-to-date with newer electric, efficient propane furnace 2020, new roof 2018 and exterior paint completed in 2019. Newer stainless steal appliances. Kitchen has a gourmet commercial range with 2 ovens. Pantry cupboards, breakfast nook with patio door leading to outside deck! Sink/island countertop and seating area. Wood fireplace and bar leading into Laundry/ mudroom off kitchen. Beautiful entryway with open staircase to second floor with 5-6 bedrooms possible and a full bathroom. The main floor has 2 parlors with working fireplace. Large Dining room w/ alcove area, office space and bathroom. This home was built in an era with a back staircase for maids . There are some stained glass windows, connecting rooms and even an indoor outhouse! Spacious rooms with tall ceilings and full attic. So many possibilities. Carport and storage and a one car detached garage. Lovely, quaint community within walking distance to banks, PO, stores, restaurants and schools.

20. 2016-07-20
    soldstatus $63,000

    Show marketing remark (140 chars)

    Two Family - nicely located close to stores and business district. Great potential for income or to reside. Tenants pay their own utilities.

21. 2016-07-20
    soldstatus $63,000

    Show marketing remark (140 chars)

    Two Family - nicely located close to stores and business district. Great potential for income or to reside. Tenants pay their own utilities.

22. 2016-02-16
    listed $69,900

    Show marketing remark (140 chars)

    Two Family - nicely located close to stores and business district. Great potential for income or to reside. Tenants pay their own utilities.

23. 2014-06-02
    soldstatus $63,000
24. 2014-05-23
    soldstatus $63,000
25. 2013-10-29
    listed $69,900

ⓘ 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: $4,336 · $361/mo
• Projected year-2 tax: $4,336 · $361/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $27,552
• − Mortgage interest: −$8,962
• − Property taxes: −$4,336
• − Insurance: −$800
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$4,655
• Taxable income: $4,391
• Est. tax owed @ 24.0%: −$1,054
• After-tax cash flow: $5,508/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: Bainbridge-Guilford Central School District
• NCES district ID: 3603810
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $48,248
• Composite: 41.31/100
• National rank: #3511
• State rank: #418 of 590 in NY

Livability — Bainbridge

• Score: 68/100
• State rank: #561
• US rank: #10094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bainbridge, NY
• City population: 5,265
• Population (ZIP): 5,265

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Iranian 5% Romanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 4% Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 34.93%
• Current HPI: 287.0519
• 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

+128.9% since first listed

11 events — show timeline

• 2026-05-28 Price Changed $160,000 UNYREIS
• 2026-04-24 Listed $189,000 UNYREIS
• 2023-10-25 Sold (MLS) $282,000 UNYREIS
• 2023-09-28 Pending — UNYREIS
• 2022-09-28 Listed $325,000 UNYREIS
• 2016-07-20 Sold (Public Records) $63,000 Public Records
• 2016-07-20 Sold (MLS) $63,000 UNYREIS
• 2016-02-16 Listed $69,900 UNYREIS
• 2014-06-02 Sold (Public Records) $63,000 Public Records
• 2014-05-23 Sold (MLS) $63,000 UNYREIS
• 2013-10-29 Listed $69,900 UNYREIS

Property tax history

+6.7%/yr

Latest (2025): $4,336 · +15.4% YoY. Source: county tax records.