2633 Edwards Rd · Waterloo, NY 13165

$119,900

2 bd · 1.5 ba · 864 sqft · Manufactured public records · 14 Days on market

Built 1976 1.29 ac lot

---

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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.5/10.0
• 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 MLS

This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

Key facts

• Metal roof
• Vinyl siding
• Large 1.29 acre lot

Tags

• LARGE 1.29 ACRE LOT
• 2 LARGE SHEDS
• VINYL SIDING
• METAL ROOF
• NEW 100 AMP ELECTRICAL SERVICE
• OWNED WATER SOFTENER SYSTEM

Property features AI

Finance

• Other: Rectangular lot (120 x 347); Lot area approximately 1.29 acres; Resale property

Exterior

• Parking: No garage
• Utilities: Electricity connected (circuit breakers); Well water; Septic tank; Cable available; High-speed internet available
• Home design: Single-story (1 story); Double wide mobile home (Danbury); Existing construction
• Construction: Vinyl siding exterior; Metal roof; Block foundation
• Exterior features: Dirt driveway; Shed(s) / storage

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate flooring; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Forced air heating (see remarks); Central air conditioning
• Interior features: Separate/formal living room; Convertible bedroom; Main-level primary bedroom; Bedroom on main level; See remarks / other
• Laundry & utility: Main-level laundry; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.0% 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: 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.
• Zoned schools: Skoi-Yase School (349 students, 59% FRL); Waterloo Middle School (math 13% / reading 31%, grade F, #656 of 729 statewide, top 90%, 338 students, 63% FRL); Waterloo High School (math 82% / reading 82%, grade A, #452 of 1,100 statewide, top 44%, 438 students, 58% FRL) — zoned schools average 60% FRL vs 40% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 52% at this address vs 40% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Waterloo Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $78k; list at $120k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.28
• GRM: 8.0

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-8,403
• Equity at exit: $17,877

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $6,915
• Equity at exit: $10,367

Cash invested: $33,572 (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 13165

• Home prices YoY: -20.7%
• Active inventory: 39
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,254 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$139 /mo · $1,671/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $173

Break-even live

Break-even rent $1,035

Max offer price $119,900

Occupancy floor 81%

Sensitivity live

Price	-10% $241	-5% $207	+0% $173	+5% $139	+10% $105
Rent	-10% $74	-5% $123	+0% $173	+5% $222	+10% $272
Rate	-1.0pp $233	-0.5pp $203	base $173	+0.5pp $142	+1.0pp $110

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-02
   status $119,900 Pending 14 DOM
2. 2026-06-01
   statusdays on market $119,900 Active Under Contract 14 DOM
3. 2026-05-31
   days on market $119,900 Active 13 DOM
4. 2026-05-18
   listed $119,900 Active
5. 2025-05-30
   soldstatus $78,000 Closed 536-char remark

   Show marketing remark (536 chars)

   This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

6. 2025-04-25
   status Pending 536-char remark

   Show marketing remark (536 chars)

   This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

7. 2025-04-23
   historical Active Under Contract 536-char remark

   Show marketing remark (536 chars)

   This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

8. 2025-04-10
   status Active 536-char remark

   Show marketing remark (536 chars)

   This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

9. 2025-04-05
   status Pending 536-char remark

   Show marketing remark (536 chars)

   This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

10. 2025-03-28
    listed $79,900 Active 536-char remark

    Show marketing remark (536 chars)

    This two bedroom doublewide (40x24 with a 17x13 addition) is on a large 1.29 acre lot along with 4 large sheds providing ample storage. The addition, currently being used as a living room, could easily be converted to a third bedroom. The vinyl siding and 10 year old metal roof offer longevity and require very little maintenance. Recent updates include new 100 AMP electrical service done in 2022, owned water softener is only 1 year old and new central air was installed 5 years ago. Don't hesitate, schedule your private tour today.

11. 2006-06-23
    soldstatus $8,000

ⓘ 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: $1,671 · $139/mo
• Projected year-2 tax: $1,849 · $154/mo
• Expected delta: +$178/yr (+$15/mo · 10.6%)

ⓘ 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 2/10 Low 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: $15,052
• − Mortgage interest: −$6,716
• − Property taxes: −$1,671
• − Insurance: −$600
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$3,488
• Taxable income: $169
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $2,035/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

• 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

+1398.8% since first listed

8 events — show timeline

• 2026-05-18 Listed $119,900 UNYREIS
• 2025-05-30 Sold (MLS) $78,000 UNYREIS
• 2025-04-25 Pending — UNYREIS
• 2025-04-23 Contingent — UNYREIS
• 2025-04-10 Relisted — UNYREIS
• 2025-04-05 Pending — UNYREIS
• 2025-03-28 Listed $79,900 UNYREIS
• 2006-06-23 Sold (Public Records) $8,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,671 · +5.7% YoY. Source: county tax records.