113 Olcott Rd N · Big Flats, NY 14814

$179,000

5 bd · 2.0 ba · 1,881 sqft · SingleFamily public records · 72 Days on market

Built 1955 0.56 ac lot Est $280k · 36% under ↓ 17% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• Appreciation +8.1/10.0
• 1% rule +4.8/10.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This house has so many new updates. It has been opened up into an open concept first floor. New flooring, fresh paint, stainless touch free appliances. 5 bedroom, 2 on the first floor with a full bath. 3 on second floor with a full bath. Oversized master with a jack and jill main bath. Plus an office upstairs. Great location close to town but private setting. Hot tub conveys with the pagoda. Well and septic newer. House has a whole house chlorination system. Pellet stove conveys as well. Helps to control heating cost.

Key facts

• Open-concept kitchen
• Private patio oasis
• Updated roof

Tags

• OPEN-CONCEPT KITCHEN
• PRIVATE PATIO OASIS
• ATTACHED ONE-CAR GARAGE
• UPDATED ROOF
• UPDATED FURNACE
• UPDATED HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $2 ($21/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (2.3% below list).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 2.9% in Big Flats — 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 (#464 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.2% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1955 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.98% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $280,269
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Hillview Dr	0.21mi	4/2.0 (-1)	2,056 (+9%)	11mo	$307,000	$149	60

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

Projected returns pro-forma

6.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 2.07×
• Total profit: $53,798
• Equity at exit: $114,536

10-year hold

• IRR: 15.8%
• Equity multiple: 4.15×
• Total profit: $157,897
• Equity at exit: $209,463

Cash invested: $50,120 (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 14814

• Home prices YoY: 2.1%
• Active inventory: 16
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,748 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$366 /mo · $4,392/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $2

Break-even live

Break-even rent $1,746

Max offer price $179,000

Occupancy floor 95%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $179,000 Active 72 DOM
2. 2026-06-18
   days on market $179,000 Active 71 DOM
3. 2026-06-17
   days on market $179,000 Active 70 DOM
4. 2026-06-17
   status $179,000 Active 69 DOM
5. 2026-06-16
   days on market $179,000 Active Under Contract 69 DOM
6. 2026-06-15
   days on market $179,000 Active Under Contract 68 DOM
7. 2026-06-14
   days on market $179,000 Active Under Contract 66 DOM
8. 2026-06-12
   days on market $179,000 Active Under Contract 65 DOM
9. 2026-06-09
   days on market $179,000 Active Under Contract 62 DOM
10. 2026-06-08
    days on market $179,000 Active Under Contract 61 DOM
11. 2026-06-07
    days on market $179,000 Active Under Contract 60 DOM
12. 2026-06-05
    days on market $179,000 Active Under Contract 57 DOM
13. 2026-06-03
    days on market $179,000 Active Under Contract 56 DOM
14. 2026-06-02
    days on market $179,000 Active Under Contract 55 DOM
15. 2026-06-01
    days on market $179,000 Active Under Contract 54 DOM
16. 2026-05-31
    days on market $179,000 Active Under Contract 53 DOM
17. 2026-05-30
    days on market $179,000 Active Under Contract 52 DOM
18. 2026-04-18
    historical Active Under Contract
19. 2026-04-08
    listed $179,000 Active
20. 2026-03-31
    historical
21. 2026-02-24
    price $179,000
22. 2025-10-12
    price $199,000
23. 2025-09-17
    status Active
24. 2025-08-25
    price $239,900
25. 2025-08-01
    listed $249,900 Active
26. 2023-09-29
    soldstatus $220,000
27. 2023-09-22
    soldstatus $220,000 523-char remark

    Show marketing remark (523 chars)

    This house has so many new updates. It has been opened up into an open concept first floor. New flooring, fresh paint, stainless touch free appliances. 5 bedroom, 2 on the first floor with a full bath. 3 on second floor with a full bath. Oversized master with a jack and jill main bath. Plus an office upstairs. Great location close to town but private setting. Hot tub conveys with the pagoda. Well and septic newer. House has a whole house chlorination system. Pellet stove conveys as well. Helps to control heating cost.

28. 2023-03-06
    listed $214,700 523-char remark

    Show marketing remark (523 chars)

    This house has so many new updates. It has been opened up into an open concept first floor. New flooring, fresh paint, stainless touch free appliances. 5 bedroom, 2 on the first floor with a full bath. 3 on second floor with a full bath. Oversized master with a jack and jill main bath. Plus an office upstairs. Great location close to town but private setting. Hot tub conveys with the pagoda. Well and septic newer. House has a whole house chlorination system. Pellet stove conveys as well. Helps to control heating cost.

ⓘ 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: $4,392 · $366/mo
• Projected year-2 tax: $4,392 · $366/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $20,978
• − Mortgage interest: −$10,027
• − Property taxes: −$4,392
• − Insurance: −$895
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$5,207
• Taxable loss: −$2,899
• Est. tax savings @ 24.0%: +$696
• After-tax cash flow: $717/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Big Flats

• Score: 70/100
• State rank: #464
• US rank: #8086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Flats, NY
• Population (ZIP): 2,047

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Asian 5% Two or more races 1%
• Common ancestry: Lithuanian 10% Romanian 7% Italian 4%
• Foreign-born: 6%
• Languages at home: 91% English-only · Russian/Polish/Slavic 4% Other Indo-European 4% French/Haitian/Cajun 1%

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.18%
• Current HPI: 305.0488
• 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

-16.6% since first listed

11 events — show timeline

• 2026-04-18 Contingent — UNYREIS
• 2026-04-08 Listed $179,000 UNYREIS
• 2026-03-31 Listing Removed — UNYREIS
• 2026-02-24 Price Changed $179,000 UNYREIS
• 2025-10-12 Price Changed $199,000 UNYREIS
• 2025-09-17 Relisted — UNYREIS
• 2025-08-25 Price Changed $239,900 UNYREIS
• 2025-08-01 Listed $249,900 UNYREIS
• 2023-09-29 Sold (Public Records) $220,000 Public Records
• 2023-09-22 Sold (MLS) $220,000 UNYREIS
• 2023-03-06 Listed $214,700 UNYREIS

Property tax history

+3.6%/yr

Latest (2025): $4,392 · +3.9% YoY. Source: county tax records.