139 Gates St · Palmyra, NY 14522

$139,139

3 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 8 Days on market

Built 1900 0.33 ac lot Est $241k · 42% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• 1% rule +6.5/10.0
• Schools +4.0/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 139 Gates Street in the Village of Palmyra! This spacious 3-bedroom, 1-bath home offers over 1,700 square feet of living space and sits on a generous lot with room to reimagine both the interior and exterior. Built in 1900, the property is full of character and potential for the next owner ready to bring their vision and personal touches. Inside, you’ll find large rooms, high ceilings, and a flexible layout with plenty of possibilities. The home needs updates, but the opportunity to build equity is clear. Conveniently located near schools, parks, downtown amenities, and commuter routes. Recent activity in the Palmyra market highlights continued demand for updated

Key facts

• Generous lot
• Flexible layout
• 0.33 acre lot

Tags

• GENEROUS LOT
• FLEXIBLE LAYOUT

Property features AI

Finance

• Other: Rectangular residential lot (~0.33 acre, approx. 60 x 235) with city-street frontage

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story house; Existing/resale property; Stone foundation
• Construction: Composite siding; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Gravel driveway; Shed(s); Exterior storage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Main level bedrooms (see layout)
• Flooring: Carpet; Laminate; Varied flooring
• Bathrooms: 1 full bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Library; Low-threshold shower
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-23 ($-272/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (2.9% below list).
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (2.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 71/100 on livability (#381 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Palmyra-Macedon Central School District (town): math 41% / reading 51% proficiency, ranked #443 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $962 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,130 (2.9% below list)

Questions for the listing agent

1. 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?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $241,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 W Main St	0.12mi	3/1.5	1,958 (+11%)	1mo	$230,000	$117	73
401 W Jackson St	0.19mi	4/2.5 (+1)	1,816 (+3%)	3mo	$265,000	$146	72
138 Tremont St	0.06mi	3/1.5	1,588 (-10%)	13mo	$255,000	$161	68
233 Stafford St	0.31mi	3/1.5	1,852 (+5%)	9mo	$200,000	$108	68
159 Washington St	0.13mi	4/1.5 (+1)	1,810 (+3%)	22mo	$175,000	$97	64
229 Hansen St	0.21mi	3/2.0	1,645 (-6%)	16mo	$225,000	$137	61
342 W Main St	0.12mi	3/1.0	1,528 (-13%)	14mo	$220,000	$144	61
116 Mill St	0.66mi	4/2.0 (+1)	1,768 (+0%)	2mo	$205,000	$116	57
165 Burnham	0.45mi	4/3.0 (+1)	1,887 (+7%)	2mo	$401,000	$213	52
361 Birdsall Pkwy	0.32mi	4/2.0 (+1)	1,653 (-6%)	23mo	$230,000	$139	47
226 Fayette St	0.49mi	3/2.0	1,976 (+12%)	10mo	$250,000	$127	44
329 Hathaway Pl	0.44mi	4/1.5 (+1)	1,584 (-10%)	23mo	$213,000	$134	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-23,769
• Equity at exit: $20,746

10-year hold

• IRR: -8.9%
• Equity multiple: 0.44×
• Total profit: $-21,653
• Equity at exit: $12,030

Cash invested: $38,959 (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 14522

• Home prices YoY: -26.9%
• Active inventory: 37
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$730
• Tax from tax record: −$498 /mo · $5,971/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-23

Break-even live

Break-even rent $1,627

Max offer price $135,130

Occupancy floor 96%

Sensitivity live

Price	-10% $56	-5% $17	+0% $-23	+5% $-62	+10% $-101
Rent	-10% $-149	-5% $-86	+0% $-23	+5% $40	+10% $104
Rate	-1.0pp $47	-0.5pp $13	base $-23	+0.5pp $-59	+1.0pp $-95

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: $34,785
• Closing costs: $4,174
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   statusdays on market $139,139 Pending 8 DOM
2. 2026-06-05
   days on market $139,139 Active 7 DOM
3. 2026-06-03
   days on market $139,139 Active 6 DOM
4. 2026-06-03
   days on market $139,139 Active 5 DOM
5. 2026-06-01
   days on market $139,139 Active 4 DOM
6. 2026-05-31
   days on market $139,139 Active 3 DOM
7. 2026-05-28
   listed $139,139 Active

ⓘ 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: $5,971 · $498/mo
• Projected year-2 tax: $5,971 · $498/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,177
• − Mortgage interest: −$7,794
• − Property taxes: −$5,971
• − Insurance: −$696
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$4,048
• Taxable loss: −$2,399
• Est. tax savings @ 24.0%: +$576
• After-tax cash flow: $303/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: Palmyra-Macedon Central School District
• NCES district ID: 3622380
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 51% ▲ 10.00%
• Median HH income: $52,190
• Composite: 39.65/100
• National rank: #3915
• State rank: #443 of 590 in NY

Livability — Palmyra

• Score: 71/100
• State rank: #381
• US rank: #6555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmyra, NY
• City population: 9,230
• Population (ZIP): 9,230

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 1% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Romanian 3% Slovak 2%
• Foreign-born: 1% · China
• Languages at home: 98% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.23%
• Current HPI: 217.7254
• 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

• 2026-05-28 Listed $139,139 UNYREIS

Property tax history

+7.9%/yr

Latest (2025): $5,971 · +4.4% YoY. Source: county tax records.