35 Pleasant St · Norwich, NY 13815

$43,000

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 28 Days on market

Built 1900 0.26 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A Perfect STARTER Home on a Pleasant Street, in town! A very nice Floor Plan with LARGE Areas! CONVENIENT, Easy walking distance to town and amenities. Featuring HARDWOOD floors, newer Low-E doublehung thermopane windows, private tree-lined back yard, new stair bannister and repainted kitchen! A MUST SEE, and a Great Value for the Price!

Key facts

• 0.26 acre lot
• Built 1900
• Listed 27 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Exterior features: Covered deck; Sloped down lot

Interior

• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: No central heating listed
• Interior features: Gas water heater; Has basement; Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.0% vs local median 4.1% in Norwich — 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 70/100 on livability (#447 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Norwich City School District (town): math 42% / reading 43% proficiency, ranked #498 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stanford J Gibson Primary School (400 students, 52% FRL).
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($297 loan paydown + $4k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.

Risks & watch-outs

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

Recommended offer $42,355 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 3.37% ✓
• Cap rate: 29.97%
• Cash-on-cash: 84.55%
• DSCR: 4.76
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $133,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Pleasant St	0.07mi	3/1.0	1,251 (+2%)	15mo	$117,500	$94	82
36 Plymouth St	0.26mi	3/1.5	1,340 (+9%)	3mo	$115,000	$86	69
17 Rexford St	0.28mi	3/1.5	1,222 (-1%)	22mo	$155,000	$127	65
13 Howard St	0.14mi	3/1.5	1,309 (+6%)	21mo	$123,000	$94	63
9 King St	0.10mi	3/1.5	1,330 (+8%)	22mo	$79,900	$60	62
2 Plymouth St	0.32mi	3/1.0	1,320 (+7%)	22mo	$143,000	$108	55
31 Waite St	0.51mi	3/2.0	1,256 (+2%)	19mo	$123,000	$98	53
34 Canasawacta St	0.27mi	3/1.0	1,386 (+12%)	18mo	$61,000	$44	51
19 Sunset Dr	0.53mi	3/2.0	1,284 (+4%)	17mo	$150,000	$117	50
7 Sunset Dr	0.53mi	4/1.5 (+1)	1,260 (+2%)	18mo	$157,000	$125	49
93 Plymouth St	0.45mi	4/2.0 (+1)	1,326 (+8%)	10mo	$185,000	$140	49
68 W Main St	0.41mi	3/1.5	1,410 (+14%)	15mo	$156,000	$111	42

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: 94.1%
• Equity multiple: 7.43×
• Total profit: $77,472
• Equity at exit: $38,738

10-year hold

• IRR: 89.1%
• Equity multiple: 16.42×
• Total profit: $185,696
• Equity at exit: $83,540

Cash invested: $12,040 (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 13815

• Home prices YoY: 8.2%
• Active inventory: 84
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$225
• Tax est. 1.5%: −$54 /mo · $645/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $848

Break-even live

Break-even rent $376

Max offer price $43,000

Occupancy floor 36%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Midland Dr Norwich, NY	3.0	1.0–1.5	755	$1,450	$1.92	43d	1	0.85mi

Listing history 24 events

1. 2026-06-18
   days on market $43,000 Active 28 DOM
2. 2026-06-17
   days on market $43,000 Active 27 DOM
3. 2026-06-16
   days on market $43,000 Active 26 DOM
4. 2026-06-15
   days on market $43,000 Active 25 DOM
5. 2026-06-13
   days on market $43,000 Active 23 DOM
6. 2026-06-12
   days on market $43,000 Active 22 DOM
7. 2026-06-09
   days on market $43,000 Active 19 DOM
8. 2026-06-08
   days on market $43,000 Active 18 DOM
9. 2026-06-07
   days on market $43,000 Active 17 DOM
10. 2026-06-07
    days on market $43,000 Active 16 DOM
11. 2026-06-04
    days on market $43,000 Active 13 DOM
12. 2026-06-02
    days on market $43,000 Active 12 DOM
13. 2026-06-01
    days on market $43,000 Active 11 DOM
14. 2026-05-31
    days on market $43,000 Active 10 DOM
15. 2026-05-21
    listed $43,000 Active
16. 2016-05-27
    soldstatus $53,839 342-char remark

    Show marketing remark (342 chars)

    A Perfect STARTER Home on a Pleasant Street, in town! A very nice Floor Plan with LARGE Areas! CONVENIENT, Easy walking distance to town and amenities. Featuring HARDWOOD floors, newer Low-E doublehung thermopane windows, private tree-lined back yard, new stair bannister and repainted kitchen! A MUST SEE, and a Great Value for the Price!

17. 2016-05-26
    soldstatus $57,500
18. 2015-08-13
    listed $54,900 342-char remark

    Show marketing remark (342 chars)

    A Perfect STARTER Home on a Pleasant Street, in town! A very nice Floor Plan with LARGE Areas! CONVENIENT, Easy walking distance to town and amenities. Featuring HARDWOOD floors, newer Low-E doublehung thermopane windows, private tree-lined back yard, new stair bannister and repainted kitchen! A MUST SEE, and a Great Value for the Price!

19. 2014-07-08
    listed $59,900
20. 2007-12-14
    soldstatus $56,500
21. 2007-12-14
    soldstatus $59,890
22. 2007-06-10
    listed $59,900
23. 2001-06-25
    soldstatus $34,900
24. 1999-11-01
    soldstatus $12,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$2,409
• − Property taxes: −$645
• − Insurance: −$215
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$1,251
• Taxable income: $10,096
• Est. tax owed @ 24.0%: −$2,423
• After-tax cash flow: $7,757/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: Norwich City School District
• NCES district ID: 3621330
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $40,687
• Composite: 35.68/100
• National rank: #4874
• State rank: #498 of 590 in NY

Livability — Norwich

• Score: 70/100
• State rank: #447
• US rank: #7857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, NY
• City population: 12,855
• Population (ZIP): 12,855

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 0%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.23%
• Current HPI: 280.463
• 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

+258.3% since first listed

10 events — show timeline

• 2026-05-21 Listed $43,000 GBAOR
• 2016-05-27 Sold (MLS) $53,839 UNYREIS
• 2016-05-26 Sold (Public Records) $57,500 Public Records
• 2015-08-13 Listed $54,900 UNYREIS
• 2014-07-08 Listed $59,900 UNYREIS
• 2007-12-14 Sold (Public Records) $59,890 Public Records
• 2007-12-14 Sold (MLS) $56,500 UNYREIS
• 2007-06-10 Listed $59,900 UNYREIS
• 2001-06-25 Sold (Public Records) $34,900 Public Records
• 1999-11-01 Sold (Public Records) $12,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,642 · +1.4% YoY. Source: county tax records.