1117 Ithaca Rd · Candor, NY 13864

$185,000

3 bd · 1.5 ba · 1,540 sqft · SingleFamily public records · 66 Days on market

Built 1900 3.20 ac lot Est $185k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.0/30.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Offered for the first time in over 30 years, this charming 1900 farmhouse sits on 3.2 acres and features three bedrooms and one-and-a-half baths. The property includes a separate two-car garage and a large carport, offering plenty of space for vehicles and storage. The home has been well maintained with many documented improvements, including a new roof in 2023 with warranty, septic pump replaced in 2020, updated windows, and a newly drilled well. The front porch was replaced in 2004, and hardwood floors are under the second-floor carpeting. A wonderful opportunity to own a classic farmhouse with space, character, and important updates already in place.

Key facts

• Updated windows
• Septic pump replaced
• Large carport

Tags

• SEPARATE TWO-CAR GARAGE
• LARGE CARPORT
• NEW ROOF
• SEPTIC PUMP REPLACED
• UPDATED WINDOWS
• NEWLY DRILLED WELL

Property features AI

Finance

• Other: Property type: Single-family residence; Lot size: 3.2 acres (approx. 274 x 420)
• Financial info: Investor or rental income details not specified
• HOA & community: No HOA information specified

Exterior

• Parking: Detached 2-car garage; Carport; Driveway with turnaround; Gravel parking areas
• Security: No security features specified
• Utilities: Well water; Septic tank; Electricity connected; Propane
• Home design: Residential single-family home; Two levels / 2 stories; Entry level not specified; Facing direction not specified
• Construction: Vinyl siding; Stone foundation; Built year not specified
• Exterior features: Metal roof; Shed(s) / storage; Near public transit; Rectangular lot

Interior

• Kitchen: Gas oven; Gas range; Refrigerator; Eat-in kitchen
• Bedrooms: Bedrooms not specified
• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating (oil); Ceiling fans for cooling; Cooling present
• Interior features: Ceiling fans; Eat-in kitchen; Drapes and window treatments; 7 total rooms; Partial crawl space basement
• Laundry & utility: Washer and dryer included; Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (21.8% below list).
• Recommended offer: $145k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#895 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Candor Central School District (rural): math 26% / reading 45% proficiency, ranked #551 of 590 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Candor Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 400 students, 46% FRL).
• Market conditions: 6 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,713 (21.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $184,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Willseyville Rd	0.63mi	3/2.0	1,664 (+8%)	12mo	$199,000	$120	46

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: 21.9%
• Equity multiple: 2.77×
• Total profit: $91,517
• Equity at exit: $166,663

10-year hold

• IRR: 19.7%
• Equity multiple: 6.34×
• Total profit: $276,846
• Equity at exit: $359,414

Cash invested: $51,800 (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 13864

• Home prices YoY: 3.8%
• Active inventory: 6
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,447 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$241 /mo · $2,898/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-146

Break-even live

Break-even rent $1,631

Max offer price $159,297

Occupancy floor —

Sensitivity live

Price	-10% $-41	-5% $-93	+0% $-146	+5% $-198	+10% $-250
Rent	-10% $-260	-5% $-203	+0% $-146	+5% $-88	+10% $-31
Rate	-1.0pp $-52	-0.5pp $-98	base $-146	+0.5pp $-193	+1.0pp $-242

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-21
   status Pending
2. 2026-03-25
   historical Active Under Contract
3. 2026-03-16
   listed $185,000 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: $2,898 · $241/mo
• Projected year-2 tax: $3,012 · $251/mo
• Expected delta: +$114/yr (+$10/mo · 3.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 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: $17,366
• − Mortgage interest: −$10,363
• − Property taxes: −$2,898
• − Insurance: −$925
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$5,382
• Taxable loss: −$4,981
• Est. tax savings @ 24.0%: +$1,195
• After-tax cash flow: $-551/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: Candor Central School District
• NCES district ID: 3606420
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 45% ▲ 17.00%
• Median HH income: $51,707
• Composite: 30.85/100
• National rank: #6129
• State rank: #551 of 590 in NY

Livability — Candor

• Score: 61/100
• State rank: #895
• US rank: #17419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,421

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Black 3% Two or more races 1%
• Hispanic origin (detail): Puerto Rican 21%
• Common ancestry: Iranian 7% Slovak 3% Italian 3%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.47%
• Current HPI: 311.3656
• 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

3 events — show timeline

• 2026-05-21 Pending — IBRMLS
• 2026-03-25 Contingent — IBRMLS
• 2026-03-16 Listed $185,000 IBRMLS

Property tax history

+1.8%/yr

Latest (2025): $2,898 · +2.5% YoY. Source: county tax records.