115 Iona Ln · Greene, NY 13778

$87,000

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 360 Days on market

Built 1982 2.00 ac lot

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Riverside Retreat with Endless Potential – 2 Acres on the Chenango River Dreaming of HOT summer days spent floating, kayaking, or fishing? Here’s your chance to own a well-priced getaway with over 160 feet of river frontage on the scenic Chenango River! This 1982 singlewide mobile home features 2 bedrooms and 2 bathrooms, offering a comfortable base to enjoy your slice of paradise. With some updates and personal touches, this property can become the perfect seasonal retreat or full-time residence. Nestled on 2 acres of open land//overgrown to reclaim back, there’s ample space for gardens, a landscaped lawn, or even future expansion. Enjoy the peace of country living with the added bonus of being just across the road from the Genegantslet Golf Club – an 18-hole course known for its 6,547 yards of play, par 71 design, and welcoming atmosphere. Whether you're an outdoor enthusiast, golfer, or simply looking for an affordable riverside escape, this opportunity won’t last long at this price point. Location. Waterfront. Affordability. Don’t let this one float away – - - - - -

Key facts

• 2 acres
• River frontage
• 2 acre lot

Tags

• 2 ACRES
• RIVER FRONTAGE
• SCENIC CHENANGO RIVER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $87k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#407 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, health & safety D, amenities F.
• Greene Central School District (rural): math 56% / reading 58% proficiency, ranked #282 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 19 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($601 loan paydown + $9k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 360 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Recommended offer $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.64%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 4.04×
• Total profit: $74,093
• Equity at exit: $78,376

10-year hold

• IRR: 34.2%
• Equity multiple: 9.10×
• Total profit: $197,246
• Equity at exit: $169,022

Cash invested: $24,360 (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 13778

• Home prices YoY: 13.7%
• Active inventory: 19
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,296 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$112 /mo · $1,346/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $419

Break-even live

Break-even rent $765

Max offer price $87,000

Occupancy floor 63%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $87,000 Active 360 DOM
2. 2026-06-17
   days on market $87,000 Active 359 DOM
3. 2026-06-16
   days on market $87,000 Active 358 DOM
4. 2026-06-15
   days on market $87,000 Active 357 DOM
5. 2026-06-13
   days on market $87,000 Active 355 DOM
6. 2026-06-12
   days on market $87,000 Active 354 DOM
7. 2026-06-09
   days on market $87,000 Active 351 DOM
8. 2026-06-08
   days on market $87,000 Active 350 DOM
9. 2026-06-07
   days on market $87,000 Active 349 DOM
10. 2026-06-07
    days on market $87,000 Active 348 DOM
11. 2026-06-04
    days on market $87,000 Active 345 DOM
12. 2026-06-02
    days on market $87,000 Active 344 DOM
13. 2026-06-01
    days on market $87,000 Active 343 DOM
14. 2026-05-31
    days on market $87,000 Active 342 DOM
15. 2025-06-23
    listed $87,000 Active 1130-char remark

    Show marketing remark (1130 chars)

    Riverside Retreat with Endless Potential – 2 Acres on the Chenango River Dreaming of HOT summer days spent floating, kayaking, or fishing? Here’s your chance to own a well-priced getaway with over 160 feet of river frontage on the scenic Chenango River! This 1982 singlewide mobile home features 2 bedrooms and 2 bathrooms, offering a comfortable base to enjoy your slice of paradise. With some updates and personal touches, this property can become the perfect seasonal retreat or full-time residence. Nestled on 2 acres of open land//overgrown to reclaim back, there’s ample space for gardens, a landscaped lawn, or even future expansion. Enjoy the peace of country living with the added bonus of being just across the road from the Genegantslet Golf Club – an 18-hole course known for its 6,547 yards of play, par 71 design, and welcoming atmosphere. Whether you're an outdoor enthusiast, golfer, or simply looking for an affordable riverside escape, this opportunity won’t last long at this price point. Location. Waterfront. Affordability. Don’t let this one float away – - - - - -

ⓘ 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: $1,346 · $112/mo
• Projected year-2 tax: $1,408 · $117/mo
• Expected delta: +$62/yr (+$5/mo · 4.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $15,550
• − Mortgage interest: −$4,873
• − Property taxes: −$1,346
• − Insurance: −$435
• − Repairs & maintenance: −$1,244
• − Management: −$1,244
• − Depreciation: −$2,531
• Taxable income: $3,877
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $4,098/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: Greene Central School District
• NCES district ID: 3612750
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 58% ▲ 8.00%
• Median HH income: $52,876
• Composite: 48.86/100
• National rank: #2084
• State rank: #282 of 590 in NY

Livability — Greene

• Score: 71/100
• State rank: #407
• US rank: #6991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,139

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 3% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 2%

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: ▲ 37.30%
• Current HPI: 309.9264
• 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

1 event — show timeline

• 2025-06-23 Listed $87,000 UNYREIS

Property tax history

+7.2%/yr

Latest (2025): $1,346 · -0.1% YoY. Source: county tax records.