56 Pearl St · Sidney, NY 13838

$39,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 14 Days on market

Built 1930 9,147 sqft lot ↓ 33% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2-3 bedroom Sidney home, close to major employer's, shopping and schools. This would be a good house for thatstarter home, weekend getaway, or investment rental property. Hard wood floors. Large deck overlooks park like back yard setting. 1-car garage with opener. Excellent condition, no work to do. Living room with gas fireplace. Stone patio. Furnace and HW heater new 2004.

Key facts

• Public sewer
• Front and backyard
• Public water

Tags

• PUBLIC WATER
• PUBLIC SEWER
• FRONT AND BACKYARD
• EXTRA ROOM ON THE FIRST FLOOR
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 24.6% vs local median 5.9% in Sidney — 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 69/100 on livability (#476 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D+, employment D, amenities F.
• Sidney Central School District (town): math 44% / reading 47% proficiency, ranked #462 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($276 loan paydown + $1k appreciation (2.6% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1930 — 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. 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?
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: 2.80% ✓
• Cap rate: 24.58%
• Cash-on-cash: 65.33%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 69.7%
• Equity multiple: 4.82×
• Total profit: $42,731
• Equity at exit: $17,060

10-year hold

• IRR: 69.5%
• Equity multiple: 9.85×
• Total profit: $98,906
• Equity at exit: $25,625

Cash invested: $11,172 (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 13838

• Home prices YoY: 0.8%
• Active inventory: 32
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $608

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 41%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-10-23
   status Pending
2. 2025-10-08
   listed $39,900 Active
3. 2007-08-27
   soldstatus $79,787
4. 2007-08-24
   soldstatus $79,787 377-char remark

   Show marketing remark (377 chars)

   2-3 bedroom Sidney home, close to major employer's, shopping and schools. This would be a good house for thatstarter home, weekend getaway, or investment rental property. Hard wood floors. Large deck overlooks park like back yard setting. 1-car garage with opener. Excellent condition, no work to do. Living room with gas fireplace. Stone patio. Furnace and HW heater new 2004.

5. 2007-04-27
   listed $79,000 377-char remark

   Show marketing remark (377 chars)

   2-3 bedroom Sidney home, close to major employer's, shopping and schools. This would be a good house for thatstarter home, weekend getaway, or investment rental property. Hard wood floors. Large deck overlooks park like back yard setting. 1-car garage with opener. Excellent condition, no work to do. Living room with gas fireplace. Stone patio. Furnace and HW heater new 2004.

6. 2004-03-15
   soldstatus $59,900
7. 2004-03-05
   soldstatus $59,500 169-char remark

   Show marketing remark (169 chars)

   Cute as a Dollhouse Absolutely adorable 2 bedroom home in park like setting. Living room with gas fireplace. Family/Dining area overlooking private yard. Homespun charm!

8. 2004-01-20
   listed $59,900 169-char remark

   Show marketing remark (169 chars)

   Cute as a Dollhouse Absolutely adorable 2 bedroom home in park like setting. Living room with gas fireplace. Family/Dining area overlooking private yard. Homespun charm!

ⓘ 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 ≥91°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: $13,427
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$1,161
• Taxable income: $7,085
• Est. tax owed @ 24.0%: −$1,700
• After-tax cash flow: $5,598/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: Sidney Central School District
• NCES district ID: 3626850
• Math proficiency: 44% ▼ -2.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $42,110
• Composite: 38.29/100
• National rank: #4232
• State rank: #462 of 590 in NY

Livability — Sidney

• Score: 69/100
• State rank: #476
• US rank: #8397

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, NY
• Population (ZIP): 4,185

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 12% Hispanic / Latino 8% Black 2%
• Common ancestry: Romanian 10% Iranian 9% Lithuanian 4%
• Foreign-born: 1%
• Languages at home: 92% English-only · German/W. Germanic 5% Other Asian/Pacific 2% Spanish 2%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.60%
• Current HPI: 324.4858
• 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

-33.4% since first listed

8 events — show timeline

• 2025-10-23 Pending — Global MLS
• 2025-10-08 Listed $39,900 Global MLS
• 2007-08-27 Sold (Public Records) $79,787 Public Records
• 2007-08-24 Sold (MLS) $79,787 UNYREIS
• 2007-04-27 Listed $79,000 UNYREIS
• 2004-03-15 Sold (Public Records) $59,900 Public Records
• 2004-03-05 Sold (MLS) $59,500 UNYREIS
• 2004-01-20 Listed $59,900 UNYREIS

Property tax history

+1.6%/yr

Latest (2025): $2,636 · +2.0% YoY. Source: county tax records.