32 Vermont St · Bath, NY 14810

$119,000

5 bd · 2.0 ba · 2,408 sqft · MultiFamily public records · 77 Days on market

Built 1910 0.27 ac lot $49/sqft · 11% below area Est $134k · 11% under

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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 +30.0/30.0
• ARV discount +12.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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 MLS

Income property!! 2 Side by side apartments. One is very spacious with 3 bedrooms all natural wood throughout. Laundry room of kitchen. Second one is a bit smaller offering 2 bedrooms. Laundry in the basement. All electric baseboard throughout the whole building. large inviting back yard to enjoy some outside time.

Key facts

• 0.27 acre lot
• Garage
• Built 1910

Tags

• LAUNDRY ROOM OF KITCHEN
• LAUNDRY IN THE BASEMENT
• LARGE INVITING BACK YARD

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $119k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.6% in Bath — 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 68/100 on livability (#533 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime D-, amenities F.
• Bath Central School District (town): math 38% / reading 44% proficiency, ranked #522 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -20% 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 $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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.
• Current owner paid $68k; list at $119k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• GRM: 5.1

CMA / ARV

• ARV (median comp): $133,840
• List price: $119,000
• Delta: -11.09%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 W William St St	0.51mi	5/3.0	2,424 (+1%)	7mo	$50,000	$21	65
133 W Morris St	0.69mi	4/2.0 (-1)	2,569 (+7%)	24mo	$144,362	$56	32
54 W Steuben St	0.64mi	5/3.0	2,084 (-14%)	21mo	$145,000	$70	26
210 E Washington St	0.69mi	5/4.0	2,739 (+14%)	16mo	$50,000	$18	24

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

Projected returns pro-forma

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

5-year hold

• IRR: 17.2%
• Equity multiple: 1.70×
• Total profit: $23,214
• Equity at exit: $17,743

10-year hold

• IRR: 25.8%
• Equity multiple: 3.25×
• Total profit: $75,106
• Equity at exit: $10,289

Cash invested: $33,320 (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 14810

• Home prices YoY: -18.8%
• Active inventory: 67
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$201 /mo · $2,407/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $666

Break-even live

Break-even rent $1,107

Max offer price $119,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$975
1× unit	2	1	$975
Total (2 units)			$1,950

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $119,000 Active 77 DOM
2. 2026-06-17
   days on market $119,000 Active 76 DOM
3. 2026-06-16
   days on market $119,000 Active 75 DOM
4. 2026-06-15
   days on market $119,000 Active 74 DOM
5. 2026-06-13
   days on market $119,000 Active 72 DOM
6. 2026-06-12
   days on market $119,000 Active 71 DOM
7. 2026-06-09
   days on market $119,000 Active 68 DOM
8. 2026-06-08
   days on market $119,000 Active 67 DOM
9. 2026-06-07
   days on market $119,000 Active 66 DOM
10. 2026-06-07
    days on market $119,000 Active 65 DOM
11. 2026-06-04
    days on market $119,000 Active 62 DOM
12. 2026-06-02
    days on market $119,000 Active 61 DOM
13. 2026-06-01
    days on market $119,000 Active 60 DOM
14. 2026-05-31
    days on market $119,000 Active 59 DOM
15. 2026-04-02
    listed $119,000 Active 316-char remark

    Show marketing remark (316 chars)

    Income property!! 2 Side by side apartments. One is very spacious with 3 bedrooms all natural wood throughout. Laundry room of kitchen. Second one is a bit smaller offering 2 bedrooms. Laundry in the basement. All electric baseboard throughout the whole building. large inviting back yard to enjoy some outside time.

16. 2026-03-09
    historical
17. 2025-06-01
    listed $119,900 Active
18. 2024-12-14
    historical
19. 2024-09-09
    listed $119,900
20. 2021-07-02
    soldstatus $68,000
21. 2000-07-28
    soldstatus $60,043
22. 1999-10-28
    listed $64,900

ⓘ 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: $2,407 · $201/mo
• Projected year-2 tax: $2,407 · $201/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $23,400
• − Mortgage interest: −$6,666
• − Property taxes: −$2,407
• − Insurance: −$595
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$3,462
• Taxable income: $6,526
• Est. tax owed @ 24.0%: −$1,566
• After-tax cash flow: $6,429/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: Bath Central School District
• NCES district ID: 3604050
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 44% ▲ 8.00%
• Median HH income: $38,973
• Composite: 34.25/100
• National rank: #5254
• State rank: #522 of 590 in NY

Livability — Bath

• Score: 68/100
• State rank: #533
• US rank: #9644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bath, NY
• Population (ZIP): 11,412

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 (94%)
• Race & ethnicity: White 94% Black 3% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▼ -44.58%
• Current HPI: 193.0727
• 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

+83.4% since first listed

8 events — show timeline

• 2026-04-02 Listed $119,000 UNYREIS
• 2026-03-09 Listing Removed — UNYREIS
• 2025-06-01 Listed $119,900 UNYREIS
• 2024-12-14 Listing Removed — UNYREIS
• 2024-09-09 Listed $119,900 UNYREIS
• 2021-07-02 Sold (Public Records) $68,000 Public Records
• 2000-07-28 Sold (MLS) $60,043 UNYREIS
• 1999-10-28 Listed $64,900 UNYREIS

Property tax history

-2.1%/yr

Latest (2025): $2,407 · +2.8% YoY. Source: county tax records.