159 Temple St St

Owego, NY 13827

$200,000D

4 bd · 1.5 ba · 1,786 sqft · Built 1880 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,653/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$481
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $-224/mo
• Annual: $-2,689/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.61%
• DSCR: 0.84
• 1% rule: 0.83%
• Cash to close: $56,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $200k.
• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (17.3% below list).
• It's been on market 33 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (19.8% below list) — sets the bar for cash-flow.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (8.1% local appreciation)).
• Location reads 76/100 on livability (#214 in NY, #3,289 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Owego-Apalachin Central School District (town): math 62% / reading 62% proficiency, ranked #204 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Owego Elementary School (math 72% / reading 67%, grade A-, #447 of 2,108 statewide, top 24%, 486 students, 53% FRL); Owego-Apalachin Middle School (math 36% / reading 57%, grade D+, #330 of 729 statewide, top 46%, 443 students, 45% FRL); Owego Free Academy (math 98% / reading 75%, grade A, #342 of 1,100 statewide, top 31%, 606 students, 41% FRL).
• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 65 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.