5575 State Route 28 · Newport, NY 13416

$69,900

2 bd · 1.0 ba · 1,090 sqft · SingleFamily · 14 Days on market

Built 2016 Poor condition 2.30 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Beat up pretty bad by the big 2019 flooding of the West Canada Creek, 5775 State Route 28 in Newport still stands and has huge potential to be absolutely lovely, once again. It is rare we see major floods on our central New York waterways. We saw the 2013 flood and most recently, the 2019 flood. Any home that enjoyed the benefits of this beautiful waterway was hit with water. Homes that set on the banks have endured numerous water events. .. but still stand. Owners certainly think the benefits outweigh the rare hits they get from owning waterfront properties. With 720 feet of direct waterfront, you can create quite the haven. Prepare the home better. .. in the event of another flood. .. be

Key facts

• Direct waterfront
• 2.3 acre lot
• Built 2016

Tags

• DIRECT WATERFRONT
• WATERFRONT PROPERTIES
• VIEWS FROM THE HOME LOCATION
• YEAR ROUND VACATION HOME
• LOCATED 20 MINUTES TO UTICA
• LOCATED 25 MINUTES TO ROME

Property features AI

Finance

• Other: Approximately 2.3 acres of land; Property fronts West Canada Creek with about 720 feet of frontage and offers beach, river and stream access

Exterior

• Parking: No garage
• Utilities: Well water; Septic tank; Cable available
• Home design: Single-story home; Resale property; Has view
• Construction: Vinyl siding; Asphalt roof; Poured foundation; Existing (year built details)
• Exterior features: Dirt driveway; Irregular lot

Interior

• Kitchen: Water heater noted (see remarks for additional appliances)
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Heating details: see remarks
• Interior features: Separate/formal living room; Bedroom on main level; Thermal windows; Crawl space basement
• Laundry & utility: See remarks for equipment details

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads 62/100 on livability (#867 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities F.
• West Canada Valley Central School District (rural): math 54% / reading 57% proficiency, ranked #296 of 590 in NY (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $3k appreciation (3.9% local appreciation)).
• Herkimer County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $69,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
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: 1.43% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.83%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 2.61×
• Total profit: $31,438
• Equity at exit: $35,094

10-year hold

• IRR: 26.9%
• Equity multiple: 5.11×
• Total profit: $80,443
• Equity at exit: $57,124

Cash invested: $19,572 (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 13416

• Home prices YoY: 1.2%
• Active inventory: 16
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $307

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 64%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $69,900 Active 14 DOM
2. 2026-06-18
   days on market $69,900 Active 13 DOM
3. 2026-06-17
   days on market $69,900 Active 12 DOM
4. 2026-06-16
   days on market $69,900 Active 11 DOM
5. 2026-06-15
   days on market $69,900 Active 10 DOM
6. 2026-06-14
   days on market $69,900 Active 8 DOM
7. 2026-06-13
   days on market $69,900 Active 7 DOM
8. 2026-06-10
   days on market $69,900 Active 5 DOM
9. 2026-06-09
   days on market $69,900 Active 4 DOM
10. 2026-06-08
    days on market $69,900 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $69,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,002
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,033
• Taxable income: $2,735
• Est. tax owed @ 24.0%: −$656
• After-tax cash flow: $3,029/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

The home is in poor condition and requires extensive repairs and maintenance. A new roof, exterior siding, HVAC system, and landscaping will significantly increase its value.

Repairs flagged

• Major roof — The roof appears to be damaged and possibly leaking, as indicated by the satellite image showing water damage on the ground below.
• Major exterior siding — The exterior siding is peeling and in need of repainting.
• Major fencing — The fencing is in poor condition and overgrown with vegetation.
• Major flooring — The interior flooring appears to be carpeted and in need of replacement or cleaning.
• Major interior walls — The interior walls are bare and show signs of water damage, as indicated by the satellite image showing water damage on the ground below.
• Major HVAC system — The HVAC system appears to be old and in need of replacement.

Value-add opportunities

• Resale Roof replacement — A new roof will significantly improve the home's appearance and increase its value.
• Resale Exterior siding repair and repainting — A new exterior siding and repainting will improve the home's appearance and increase its value.
• Resale HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, increasing its value.
• Both Landscaping and fencing maintenance — A well-maintained landscape and fencing will improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be damaged and possibly leaking, as indicated by the satellite image showing water damage on the ground below.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting.	Major	$15,000–50,000
fencing · The fencing is in poor condition and overgrown with vegetation.	Major	$15,000–50,000
flooring · The interior flooring appears to be carpeted and in need of replacement or cleaning.	Major	$15,000–50,000
interior walls · The interior walls are bare and show signs of water damage, as indicated by the satellite image showing water damage on the ground below.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be old and in need of replacement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Roof replacement — A new roof will significantly improve the home's appearance and increase its value. ↑
• Resale Exterior siding repair and repainting — A new exterior siding and repainting will improve the home's appearance and increase its value. ↑
• Resale HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, increasing its value. ↑
• Both Landscaping and fencing maintenance — A well-maintained landscape and fencing will improve the home's curb appeal and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Canada Valley Central School District
• NCES district ID: 3630600
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 57% ▲ 13.00%
• Median HH income: $54,416
• Composite: 47.76/100
• National rank: #2232
• State rank: #296 of 590 in NY

Livability — Newport

• Score: 62/100
• State rank: #867
• US rank: #16700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,120

Population outlook (Herkimer County) Hauer SSP2

• Today (2025): 59,340 people
• By 2030: 56,838 · -4.2%
• By 2040: 51,098 · -13.9%
• By 2050: 45,080 · -24.0%
• By 2075: 32,648 · -45.0%
• By 2100: 22,266 · -62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% American 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Herkimer

• 2024 margin: Solid R (+36.4) · D 31.8% · R 68.2%
• 2008→2024 swing: -27.1pp toward R · 2008: -9.3pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+30.5 2016: R+34.5 2012: R+8.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.92%
• Current HPI: 329.7225
• 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

• 2026-06-05 Listed $69,900 CNYIS