59 Mechanic St · Prattsburgh, NY 14873

$19,900

3 bd · 1.0 ba · 1,776 sqft · SingleFamily public records · 153 Days on market

Built 1900 8,276 sqft lot ↓ 46% since listing

---

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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

HOME WILL NEED REPAIRS, SOLD AS IS, many possibilities great project!

Key facts

• 8,276 sq ft lot
• Built 1900
• Listed 153 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,060 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools C-, health & safety D, crime F.
• Prattsburgh Central School District (rural): math 40% / reading 50% proficiency, ranked #572 of 755 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (10.0% local appreciation)).
• Steuben County population projected at -20% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 6.77% ✓
• Cap rate: 61.10%
• Cash-on-cash: 195.73%
• DSCR: 9.71
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $174,048
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Mechanic St	0.19mi	4/2.5 (+1)	1,928 (+9%)	2mo	$188,000	$98	64
3 & 5 Naples Hill Rd	0.37mi	3/1.5	1,586 (-11%)	24mo	$60,000	$38	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 13.34×
• Total profit: $68,754
• Equity at exit: $17,927

10-year hold

• IRR: —
• Equity multiple: 29.18×
• Total profit: $157,012
• Equity at exit: $38,661

Cash invested: $5,572 (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 14873

• Home prices YoY: 4.2%
• Active inventory: 13
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$43 /mo · $514/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $909

Break-even live

Break-even rent $197

Max offer price $19,900

Occupancy floor 28%

Sensitivity live

Price	-10% $920	-5% $914	+0% $909	+5% $903	+10% $898
Rent	-10% $802	-5% $856	+0% $909	+5% $962	+10% $1,015
Rate	-1.0pp $919	-0.5pp $914	base $909	+0.5pp $904	+1.0pp $898

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2024-09-27
   status Pending
2. 2024-06-11
   status Active
3. 2024-04-10
   status Pending
4. 2024-02-25
   listed $19,900 Active
5. 2023-08-21
   historical
6. 2023-06-19
   listed $24,900 Active
7. 2003-06-24
   soldstatus $31,836
8. 2001-09-27
   soldstatus $37,000

ⓘ 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: $514 · $43/mo
• Projected year-2 tax: $514 · $43/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,167
• − Mortgage interest: −$1,115
• − Property taxes: −$514
• − Insurance: −$100
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$579
• Taxable income: $11,273
• Est. tax owed @ 24.0%: −$2,706
• After-tax cash flow: $8,201/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: Prattsburgh Central School District
• NCES district ID: 3623790
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $45,313
• Composite: 40.39/100
• National rank: #7741
• State rank: #572 of 755 in NY

Livability — Prattsburgh

• Score: 58/100
• State rank: #1060
• US rank: #21169

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prattsburgh, NY
• City population: 1,937
• Population (ZIP): 1,937

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Asian 2%
• Common ancestry: Iranian 5% Romanian 3% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Other Asian/Pacific 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.32%
• Current HPI: 399.9698
• 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

-46.2% since first listed

8 events — show timeline

• 2024-09-27 Pending — UNYREIS
• 2024-06-11 Relisted — UNYREIS
• 2024-04-10 Pending — UNYREIS
• 2024-02-25 Listed $19,900 UNYREIS
• 2023-08-21 Listing Removed — UNYREIS
• 2023-06-19 Listed $24,900 UNYREIS
• 2003-06-24 Sold (Public Records) $31,836 Public Records
• 2001-09-27 Sold (Public Records) $37,000 Public Records

Property tax history

-15.0%/yr

Latest (2025): $514 · +10.4% YoY. Source: county tax records.