208 Pierce Ave · Endwell, NY 13760

$274,900

5 bd · 3.0 ba · 3,052 sqft · MultiFamily public records · 45 Days on market

Built 1950 9,147 sqft lot $90/sqft · 25% below area Est $366k · 25% under ↓ 1% since listing

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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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.7/10.0
• Rent growth +4.3/5.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This well-maintained property features two open layouts, making it an ideal opportunity for an owner-occupant or an investor. Conveniently located in the Maine-Endwell School District near shopping, dining and community features, it offers a quiet feel with ease of access. Whether you seek a solid long-term investment or a comfortable family home, this property provides an excellent foundation for personalization. Please let me know if you would like to schedule a viewing or receive more information.

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Financial info: One unit currently rents for $750

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex (residential income property)
• Construction: Brick construction
• Exterior features: Covered patio

Interior

• Kitchen: Microwave; Oven
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: One unit with 1 bathroom; One unit with 1 full bathroom (separate unit)
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Dryer; Gas water heater; Microwave; Oven; Washer; Carpet and hardwood and tile flooring; Basement
• Laundry & utility: Washer hookup; Gas dryer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Endwell — 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 73/100 on livability (#303 in NY, #4,992 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools A; Watch: crime D-, amenities F, commute F.
• Union-Endicott Central School District (suburban): math 43% / reading 57% proficiency, ranked #387 of 590 in NY (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.1%/yr); 213 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,227/mo this rent would consume 59% of the median local household income ($66k/yr) (locally 1480% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $77k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $266,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.1

CMA / ARV

• ARV (median comp): $365,582
• List price: $274,900
• Delta: -24.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.09% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-516
• Equity at exit: $40,988

10-year hold

• IRR: 13.6%
• Equity multiple: 2.31×
• Total profit: $100,614
• Equity at exit: $23,768

Cash invested: $76,972 (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 13760

• Home prices YoY: -32.7%
• Rents YoY: 7.1%
• Active inventory: 213
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,227 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$521 /mo · $6,257/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $472

Break-even live

Break-even rent $2,630

Max offer price $274,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,228
Total (2 units)			$3,227

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 Milan Ave Endicott, NY	5.0	2.0	2240	$2,350	$1.05	43d	1	0.85mi

Listing history 20 events

1. 2026-06-19
   days on market $274,900 Active 45 DOM
2. 2026-06-18
   days on market $274,900 Active 44 DOM
3. 2026-06-17
   days on market $274,900 Active 43 DOM
4. 2026-06-16
   days on market $274,900 Active 42 DOM
5. 2026-06-15
   days on market $274,900 Active 41 DOM
6. 2026-06-14
   days on market $274,900 Active 39 DOM
7. 2026-06-13
   days on market $274,900 Active 38 DOM
8. 2026-06-10
   days on market $274,900 Active 36 DOM
9. 2026-06-09
   days on market $274,900 Active 35 DOM
10. 2026-06-08
    days on market $274,900 Active 34 DOM
11. 2026-06-07
    days on market $274,900 Active 33 DOM
12. 2026-06-05
    days on market $274,900 Active 30 DOM
13. 2026-06-03
    days on market $274,900 Active 29 DOM
14. 2026-06-03
    remarks 505-char remark
15. 2026-06-03
    price $274,900 Active 28 DOM
16. 2026-06-02
    days on market $279,000 Active 28 DOM
17. 2026-06-01
    days on market $279,000 Active 27 DOM
18. 2026-05-31
    days on market $279,000 Active 26 DOM
19. 2026-05-30
    days on market $279,000 Active 25 DOM
20. 2026-05-05
    listed $279,000 Active 470-char remark

ⓘ 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: $6,257 · $521/mo
• Projected year-2 tax: $6,257 · $521/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $38,724
• − Mortgage interest: −$15,399
• − Property taxes: −$6,257
• − Insurance: −$1,374
• − Repairs & maintenance: −$3,098
• − Management: −$3,098
• − Depreciation: −$7,997
• Taxable income: $1,501
• Est. tax owed @ 24.0%: −$360
• After-tax cash flow: $5,301/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: Union-Endicott Central School District
• NCES district ID: 3610710
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 57% ▲ 11.00%
• Median HH income: $49,265
• Composite: 42.66/100
• National rank: #3176
• State rank: #387 of 590 in NY

Livability — Endwell

• Score: 73/100
• State rank: #303
• US rank: #4992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Endwell, NY
• County: Broome County · 126,805 people
• Metro: Binghamton, NY
• Population (ZIP): 42,896
• Household income: $66,095
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 1480.0

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.29%
• Current HPI: 270.2661
• Rent YoY: ▲ 7.09%
• Metro: Binghamton, NY
• 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

-1.5% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $274,900 GBAOR
• 2026-05-05 Listed $279,000 GBAOR

Property tax history

+1.5%/yr

Latest (2025): $6,257 · +2.2% YoY. Source: county tax records.