116 Chestnut St · Owego, NY 13827

$69,000

2 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 79 Days on market

Built 1900 4,356 sqft lot $51/sqft · 32% below area Est $101k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.1/10.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

Key facts

• New furnace
• Blown-in insulation
• Water heater

Tags

• NEW FURNACE
• WATER HEATER
• BLOWN-IN INSULATION
• UPGRADED ELECTRICAL WIRING
• NEW 100-AMP SERVICE
• GENERATOR HOOKUP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 5.3% in Owego — 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 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).
• Market conditions: 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($477 loan paydown + $6k appreciation (8.1% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.1% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $69k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.93% ✓
• Cap rate: 13.74%
• Cash-on-cash: 26.61%
• DSCR: 2.18
• GRM: 4.3

CMA / ARV

• ARV (median comp): $101,112
• List price: $69,000
• Delta: -31.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Spencer Ave Ave	0.05mi	3/1.5 (+1)	1,264 (-6%)	4mo	$93,500	$74	78
75 Paige St	0.13mi	3/1.5 (+1)	1,344 (+0%)	14mo	$78,000	$58	75
4 West Ave	0.29mi	3/1.0 (+1)	1,368 (+2%)	4mo	$75,000	$55	74
105 Chestnut St	0.04mi	3/1.0 (+1)	1,488 (+11%)	12mo	$80,000	$54	65
55 William St	0.63mi	2/1.0	1,256 (-6%)	2mo	$164,500	$131	59
249 Erie St	0.42mi	3/1.5 (+1)	1,416 (+6%)	7mo	$145,000	$102	58
94 Talcott St	0.65mi	3/1.0 (+1)	1,348 (+1%)	8mo	$129,000	$96	57
95 West Ave	0.55mi	3/1.0 (+1)	1,366 (+2%)	17mo	$99,000	$72	52
14 Orchard Ave	0.71mi	3/1.5 (+1)	1,400 (+4%)	9mo	$222,000	$159	45
10 John St	0.50mi	3/1.5 (+1)	1,486 (+11%)	14mo	$168,000	$113	40

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

Projected returns pro-forma

8.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.4%
• Equity multiple: 3.91×
• Total profit: $56,295
• Equity at exit: $52,928

10-year hold

• IRR: 37.0%
• Equity multiple: 8.42×
• Total profit: $143,307
• Equity at exit: $105,550

Cash invested: $19,320 (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 13827

• Home prices YoY: 3.2%
• Active inventory: 65
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$233 /mo · $2,792/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $428

Break-even live

Break-even rent $789

Max offer price $69,000

Occupancy floor 63%

Sensitivity live

Price	-10% $467	-5% $448	+0% $428	+5% $409	+10% $389
Rent	-10% $323	-5% $376	+0% $428	+5% $481	+10% $534
Rate	-1.0pp $463	-0.5pp $446	base $428	+0.5pp $411	+1.0pp $392

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
81 North Ave Unit 2 Owego, NY	2.0	1.0	1000	$1,300	$1.30	45d	1	0.19mi
54 Central Ave #2 Owego, NY	1.0	1.0	915	$1,375	$1.50	22d	1	0.24mi

Listing history 29 events

1. 2026-06-21
   days on market $69,000 Active 79 DOM
2. 2026-06-19
   days on market $69,000 Active 77 DOM
3. 2026-06-18
   days on market $69,000 Active 76 DOM
4. 2026-06-17
   days on market $69,000 Active 75 DOM
5. 2026-06-16
   days on market $69,000 Active 74 DOM
6. 2026-06-15
   days on market $69,000 Active 73 DOM
7. 2026-06-14
   days on market $69,000 Active 71 DOM
8. 2026-06-13
   days on market $69,000 Active 70 DOM
9. 2026-06-10
   days on market $69,000 Active 68 DOM
10. 2026-06-09
    days on market $69,000 Active 67 DOM
11. 2026-06-08
    days on market $69,000 Active 66 DOM
12. 2026-06-07
    days on market $69,000 Active 65 DOM
13. 2026-06-05
    days on market $69,000 Active 62 DOM
14. 2026-06-03
    days on market $69,000 Active 61 DOM
15. 2026-06-02
    days on market $69,000 Active 60 DOM
16. 2026-06-01
    days on market $69,000 Active 59 DOM
17. 2026-05-31
    days on market $69,000 Active 58 DOM
18. 2026-05-30
    days on market $69,000 Active 57 DOM
19. 2026-05-07
    status Active 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

20. 2026-04-28
    historical Active Under Contract 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

21. 2026-04-14
    status Active 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

22. 2026-04-10
    historical Active Under Contract 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

23. 2026-03-14
    status Pending 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

24. 2026-03-06
    listed $75,000 Active 664-char remark

    Show marketing remark (664 chars)

    Don’t miss your chance to make this Owego home yours—or add it to your investment portfolio! This property features several major updates, including a new furnace, water heater, blown-in insulation, upgraded electrical wiring throughout most of the home, a new 100-amp service, and a generator hookup. Previously rented by the room for $500–$750 per room, this home offers excellent income potential. Located just minutes from Downtown Owego, you'll enjoy convenient access to local dining, shops, and amenities. Only an 8-minute drive to Lockheed Martin and with easy access to Route 17, the location is ideal for both homeowners and renters.

25. 2025-05-29
    price $77,900
26. 2025-05-09
    listed $82,900 Active
27. 2022-03-21
    soldstatus $30,000
28. 2021-10-26
    listed $37,900
29. 1994-06-02
    soldstatus $44,400

ⓘ 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: $2,792 · $233/mo
• Projected year-2 tax: $2,792 · $233/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,974
• − Mortgage interest: −$3,865
• − Property taxes: −$2,792
• − Insurance: −$345
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,007
• Taxable income: $4,409
• Est. tax owed @ 24.0%: −$1,058
• After-tax cash flow: $4,082/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: Owego-Apalachin Central School District
• NCES district ID: 3622170
• Math proficiency: 62% ▼ -1.00%
• Reading proficiency: 62% ▲ 6.00%
• Median HH income: $57,425
• Composite: 53.45/100
• National rank: #1464
• State rank: #204 of 590 in NY

Livability — Owego

• Score: 76/100
• State rank: #214
• US rank: #3289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owego, NY
• Population (ZIP): 11,713

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Spanish 1% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.11%
• Current HPI: 259.9605
• 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

+68.9% since first listed

11 events — show timeline

• 2026-05-07 Relisted — GBAOR
• 2026-04-28 Contingent — GBAOR
• 2026-04-14 Relisted — GBAOR
• 2026-04-10 Contingent — GBAOR
• 2026-03-14 Pending — GBAOR
• 2026-03-06 Listed $75,000 GBAOR
• 2025-05-29 Price Changed $77,900 GBAOR
• 2025-05-09 Listed $82,900 GBAOR
• 2022-03-21 Sold (MLS) $30,000 GBAOR
• 2021-10-26 Listed $37,900 GBAOR
• 1994-06-02 Sold (Public Records) $44,400 Public Records

Property tax history

+13.6%/yr

Latest (2025): $2,792 · +93.0% YoY. Source: county tax records.