149 E Elisha St #147 · Waterloo, NY 13165

$110,000

2 bd · 2.0 ba · 1,385 sqft · Condo public records · 22 Days on market

Built 1890

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Why this score? — see what drove the C+ 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Income-producing opportunity & freshly painted exterior and trim! This 2-family property offers two 1-bedroom apartments, both currently fully rented with leases in place for the next year—providing immediate cash flow but does need exterior updating. Each unit features newer vinyl flooring throughout and hot water on demand. A smart investment with all separate utilities, with tenants paying ALL utilities including water and lawn maintenance, helping keep owner expenses low. Each unit also offers a bonus room perfect for a home office, den, or possible additional bedroom. Exterior features include a covered front porch, ample parking area, and convenient layout for tenants. Pro

Key facts

• Covered front porch
• Separate utilities
• Bonus room

Tags

• FRESHLY PAINTED EXTERIOR
• NEWER VINYL FLOORING
• HOT WATER ON DEMAND
• SEPARATE UTILITIES
• BONUS ROOM
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Owner pays: other / see remarks; Rent includes: see remarks
• Financial info: Two total units with separate gas and electric meters for each unit; Operating expenses include insurance and maintenance; Each unit currently shows $900 rent

Exterior

• Parking: Gravel parking with two or more spaces available
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical system
• Home design: Single-story building; Residential property; Rectangular lot with city street frontage
• Construction: Composite siding exterior; Asphalt roof; Stone foundation; Existing (previously built)
• Exterior features: Covered porch; Porch

Interior

• Kitchen: Unit appliances include oven/range and refrigerator; Eat-in kitchens in each unit
• Bedrooms: Two 1-bedroom units (each includes living room, eat-in kitchen, and porch)
• Flooring: Vinyl flooring in places
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Varied and vinyl flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.8% in Waterloo — 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 75/100 on livability (#268 in NY, #4,240 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Waterloo Central School District (town): math 37% / reading 43% proficiency, ranked #525 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 48 units permitted in Seneca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Seneca County population projected at -14% 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.27% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.45%
• DSCR: 1.51
• GRM: 6.6

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $948
• Equity at exit: $16,401

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $25,144
• Equity at exit: $9,511

Cash invested: $30,800 (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 13165

• Home prices YoY: -20.7%
• Active inventory: 38
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,399 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$189 /mo · $2,266/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $294

Break-even live

Break-even rent $1,027

Max offer price $110,000

Occupancy floor 74%

Sensitivity live

Price	-10% $356	-5% $325	+0% $294	+5% $263	+10% $232
Rent	-10% $183	-5% $239	+0% $294	+5% $349	+10% $404
Rate	-1.0pp $349	-0.5pp $322	base $294	+0.5pp $265	+1.0pp $236

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $110,000 Active 22 DOM
2. 2026-06-18
   days on market $110,000 Active 20 DOM
3. 2026-06-17
   days on market $110,000 Active 19 DOM
4. 2026-06-16
   days on market $110,000 Active 18 DOM
5. 2026-06-15
   days on market $110,000 Active 17 DOM
6. 2026-06-13
   days on market $110,000 Active 15 DOM
7. 2026-06-12
   days on market $110,000 Active 14 DOM
8. 2026-06-09
   days on market $110,000 Active 11 DOM
9. 2026-06-08
   days on market $110,000 Active 10 DOM
10. 2026-06-07
    days on market $110,000 Active 9 DOM
11. 2026-06-07
    days on market $110,000 Active 8 DOM
12. 2026-06-04
    days on market $110,000 Active 5 DOM
13. 2026-06-02
    days on market $110,000 Active 4 DOM
14. 2026-06-01
    days on market $110,000 Active 3 DOM
15. 2026-05-31
    days on market $110,000 Active 2 DOM
16. 2026-05-29
    status Active
17. 2026-05-29
    historical
18. 2026-05-29
    listed $110,000 Active
19. 2026-04-21
    listed $110,000 Active

ⓘ 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: $2,266 · $189/mo
• Projected year-2 tax: $2,266 · $189/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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,792
• − Mortgage interest: −$6,162
• − Property taxes: −$2,266
• − Insurance: −$550
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,200
• Taxable income: $1,927
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $3,065/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: Waterloo Central School District
• NCES district ID: 3600014
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 43% ▲ 11.00%
• Median HH income: $46,726
• Composite: 34.16/100
• National rank: #5278
• State rank: #525 of 590 in NY

Livability — Waterloo

• Score: 75/100
• State rank: #268
• US rank: #4240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, NY
• Population (ZIP): 9,429

Population outlook (Seneca County) Hauer SSP2

• Today (2025): 33,457 people
• By 2030: 32,540 · -2.7%
• By 2040: 30,680 · -8.3%
• By 2050: 28,875 · -13.7%
• By 2075: 24,757 · -26.0%
• By 2100: 19,591 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 4% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 2%

Political lean MEDSL · Seneca

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -14.4pp toward R · 2008: 2.6pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: R+9.1 2016: R+12.1 2012: D+9.2 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.17%
• Current HPI: 257.272
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-29 Relisted — UNYREIS
• 2026-05-29 Listed $110,000 UNYREIS
• 2026-05-29 Listing Removed — UNYREIS
• 2026-04-21 Listed $110,000 UNYREIS

Property tax history

+3.1%/yr

Latest (2025): $2,266 · +5.3% YoY. Source: county tax records.