25 Depot Street St

Newark Valley, NY 13736

$135,000C

3 bd · 2.0 ba · 2,064 sqft · Built 1890 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,464/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$684
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $-235/mo
• Annual: $-2,822/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• 1% rule: 1.08%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-235 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (30.8% below list).
• Meets the 1% rule at list price ($1k rent vs $135k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $93k (30.8% below list) — sets the bar for cash-flow.
• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#462 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D, crime F, amenities F.
• Newark Valley Central School District (rural): math 37% / reading 51% proficiency, ranked #466 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nathan T Hall School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 322 students, 50% FRL); Newark Valley Middle School (math 23% / reading 41%, grade F, #511 of 729 statewide, top 71%, 290 students, 59% FRL); Newark Valley Senior High School (math 57% / reading 72%, grade B-, #776 of 1,100 statewide, top 73%, 414 students, 47% FRL).
• Watch-outs: property tax is 2.8% of price; flood insurance adds $314/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 4y 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.
• Current owner paid $90k; list at $135k implies a 50% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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?
• 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.
• 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.