56 River St · Sidney, NY 13838

$139,000

4 bd · 2.0 ba · 2,074 sqft · MultiFamily · 48 Days on market

Built 1820 Fair condition 10,019 sqft lot $67/sqft · 10% above area Est $127k · 10% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.3/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

MOTIVATED SELLER! Investment opportunity for this 2 family apartment building with large garage/barn in back yard. Ample parking in back. Live in one and rent out the other to help pay your mortgage. 1st floor tenant has been with landlord several years. Landlord is so happy with this tenant he has been reluctant to raise the rent. Tenants pay for their own utilities. Landlord pays $1800 in Flood insurance, and also pays for water/sewer and taxes. Home has brand new high efficiency Propane Furnace, installed in April 2026. New water heater within February 2026. Home also has water filtration system for the whole house in the basement

Key facts

• Large garage
• Ample parking
• 0.23 acre lot

Tags

• LARGE GARAGE
• AMPLE PARKING
• WATER FILTRATION SYSTEM

Property features AI

Finance

• Other: Owner pays grounds care, trash collection, and water; Rent includes gardener, trash collection, and water
• Financial info: Two-unit property with separate electric meters (2 meters); Reported rents: $650 for each unit (both units); Operating expenses may include snow removal, trash, water/sewer, and other items (see remarks)

Exterior

• Parking: One covered garage space; Additional gravel/unpaved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story multi-family building; Existing condition
• Construction: Wood frame construction with wood siding; Attic/crawl hatchway(s) insulated; Asphalt pitched roof; Stone foundation
• Exterior features: Partial fencing; Fence; Rectangular residential lot; Located on a city street; Property in a flood zone

Interior

• Kitchen: Each unit includes a kitchen with range/oven and refrigerator; Dining area with kitchen
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Carpet, vinyl, and varied flooring
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Propane forced-air heating; Heating present (see remarks)
• Interior features: Thermal windows; Partial basement
• Laundry & utility: Washer and dryer included in at least one unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $139k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive. Per door: $277/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 5.9% in Sidney — 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 69/100 on livability (#476 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D+, employment D, amenities F.
• Sidney Central School District (town): math 44% / reading 47% proficiency, ranked #462 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (2.6% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, 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 48 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $31k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1820 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 15.05%
• Cash-on-cash: 31.28%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (median comp): $126,742
• List price: $139,000
• Delta: 9.67%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
378 State Highway 7	0.58mi	4/2.5	2,035 (-2%)	5mo	$95,000	$47	64

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

Projected returns pro-forma

2.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 2.27×
• Total profit: $49,463
• Equity at exit: $59,430

10-year hold

• IRR: 24.2%
• Equity multiple: 4.36×
• Total profit: $130,743
• Equity at exit: $89,270

Cash invested: $38,920 (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 13838

• Home prices YoY: 0.8%
• Active inventory: 32
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $554

Break-even live

Break-even rent $1,799

Max offer price $139,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,500
Total (2 units)			$2,500

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $139,000 Active 48 DOM
2. 2026-06-17
   days on market $139,000 Active 47 DOM
3. 2026-06-16
   days on market $139,000 Active 46 DOM
4. 2026-06-15
   remarks 644-char remark
5. 2026-06-15
   pricedays on market $139,000 Active 45 DOM
6. 2026-06-13
   days on market $159,900 Active 43 DOM
7. 2026-06-12
   days on market $159,900 Active 42 DOM
8. 2026-06-09
   days on market $159,900 Active 39 DOM
9. 2026-06-08
   days on market $159,900 Active 38 DOM
10. 2026-06-07
    days on market $159,900 Active 37 DOM
11. 2026-06-07
    days on market $159,900 Active 36 DOM
12. 2026-06-04
    days on market $159,900 Active 33 DOM
13. 2026-06-02
    days on market $159,900 Active 32 DOM
14. 2026-06-01
    days on market $159,900 Active 31 DOM
15. 2026-05-31
    days on market $159,900 Active 30 DOM
16. 2026-05-01
    listed $169,900 Active 624-char remark
17. 2025-10-09
    historical
18. 2025-07-10
    price $149,900
19. 2025-06-05
    listed $159,900 Active
20. 2005-02-14
    listed $67,500
21. 2003-07-02
    listed $69,900
22. 2002-12-17
    listed $69,900
23. 2002-06-06
    listed $69,900

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°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: $30,000
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$6,220
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,044
• Taxable income: $5,065
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $5,432/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 · 1 photo

Fair 45/100 Moderate rehab

This 2-family apartment building requires moderate renovations to improve its exterior, interior, and structural integrity, significantly enhancing its resale and rental value.

Repairs flagged

• Major Exterior siding — Sections of siding are missing and damaged
• Major Roof — Appears old and possibly leaking
• Major Flooring — Worn and damaged, needs replacement
• Major Interior walls/paint — Paint chipped and peeling, needs repainting

Value-add opportunities

• Both New exterior siding — Improves curb appeal and structural integrity
• Both New roof — Fixes potential leaks and enhances structural integrity
• Both New flooring — Enhances living space and increases rental value
• Both Repainting interior walls — Enhances interior appearance and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Sections of siding are missing and damaged	Major	$15,000–50,000
Roof · Appears old and possibly leaking	Major	$15,000–50,000
Flooring · Worn and damaged, needs replacement	Major	$15,000–50,000
Interior walls/paint · Paint chipped and peeling, needs repainting	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both New exterior siding — Improves curb appeal and structural integrity ↑
• Both New roof — Fixes potential leaks and enhances structural integrity ↑
• Both New flooring — Enhances living space and increases rental value ↑
• Both Repainting interior walls — Enhances interior appearance and rental 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: Sidney Central School District
• NCES district ID: 3626850
• Math proficiency: 44% ▼ -2.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $42,110
• Composite: 38.29/100
• National rank: #4232
• State rank: #462 of 590 in NY

Livability — Sidney

• Score: 69/100
• State rank: #476
• US rank: #8397

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sidney, NY
• Population (ZIP): 4,185

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 12% Hispanic / Latino 8% Black 2%
• Common ancestry: Romanian 10% Iranian 9% Lithuanian 4%
• Foreign-born: 1%
• Languages at home: 92% English-only · German/W. Germanic 5% Other Asian/Pacific 2% Spanish 2%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.60%
• Current HPI: 324.4858
• 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

+98.9% since first listed

10 events — show timeline

• 2026-06-15 Price Changed $139,000 UNYREIS
• 2026-05-28 Price Changed $159,900 UNYREIS
• 2026-05-01 Listed $169,900 UNYREIS
• 2025-10-09 Listing Removed — UNYREIS
• 2025-07-10 Price Changed $149,900 UNYREIS
• 2025-06-05 Listed $159,900 UNYREIS
• 2005-02-14 Listed $67,500 UNYREIS
• 2003-07-02 Listed $69,900 UNYREIS
• 2002-12-17 Listed $69,900 UNYREIS
• 2002-06-06 Listed $69,900 UNYREIS