611 W Miller St · Newark, NY 14513

$80,000

4 bd · 1.5 ba · 1,940 sqft · SingleFamily public records · 8 Days on market

Built 1900 0.26 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Vintage charmer full of potential! This 4-bedroom home offers 1 full bath and 1 half bath, ready for your personal touch and renovation vision. First-floor bedroom as well as first-floor laundry. Ideally located within walking distance to shops, schools, the library, parks, and local dining. A fantastic opportunity to restore and customize a classic home in a convenient, community-centered location. ” Property is being sold in “As Is” condition and for cash or rehab loans. The seller is reviewing all offers on Tuesday, April 28, 2026.

Key facts

• First floor laundry
• First floor bedroom
• 0.26 acre lot

Tags

• FIRST FLOOR BEDROOM
• FIRST FLOOR LAUNDRY
• WALKING DISTANCE TO SHOPS
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO LIBRARY
• WALKING DISTANCE TO PARKS

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available; Circuit breaker electric
• Home design: 2-story home; Existing construction; City street frontage; Rectangular residential lot (66 x 196)
• Construction: Wood siding; Copper plumbing; Asphalt roof; Stone foundation; Resale condition
• Exterior features: Blacktop driveway; Open porch

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: One full bathroom; One half bathroom; One bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Entrance foyer; Eat-in kitchen; Natural woodwork; Has full basement
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.3% vs local median 5.0% in Newark — 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 71/100 on livability (#405 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B; Watch: schools D+, employment D+, crime F.
• Newark Central School District (town): math 33% / reading 46% proficiency, ranked #527 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.69% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.03%
• DSCR: 1.80
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $162,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 W Miller St	0.00mi	5/1.5 (+1)	1,940 (0%)	1mo	$102,000	$53	94
205 Madison St	0.49mi	4/1.5	2,032 (+5%)	8mo	$117,500	$58	62
211 Mason St	0.50mi	3/1.5 (-1)	1,896 (-2%)	9mo	$234,000	$123	60
426 W Miller St	0.21mi	3/1.0 (-1)	2,208 (+14%)	7mo	$184,900	$84	54
107 Bartle Ave	0.66mi	3/1.5 (-1)	2,012 (+4%)	11mo	$159,000	$79	49
315 W Miller St	0.37mi	3/1.5 (-1)	2,200 (+13%)	9mo	$152,000	$69	48
108 Lillie St	0.32mi	3/1.5 (-1)	1,776 (-8%)	22mo	$130,000	$73	48
317 West Ave	0.30mi	3/1.0 (-1)	1,672 (-14%)	12mo	$220,000	$132	46
612 Mason St	0.64mi	3/1.0 (-1)	1,769 (-9%)	11mo	$211,000	$119	40
447 West Ave	0.59mi	3/2.0 (-1)	2,184 (+13%)	7mo	$197,000	$90	39
148 Willow Ave	0.58mi	3/2.0 (-1)	2,176 (+12%)	14mo	$83,000	$38	34
604 W Maple Ave	0.44mi	3/2.0 (-1)	1,664 (-14%)	18mo	$260,000	$156	34

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: 9.7%
• Equity multiple: 1.38×
• Total profit: $8,597
• Equity at exit: $11,928

10-year hold

• IRR: 19.0%
• Equity multiple: 2.59×
• Total profit: $35,607
• Equity at exit: $6,917

Cash invested: $22,400 (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 14513

• Home prices YoY: -16.7%
• Active inventory: 44
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$277 /mo · $3,326/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $336

Break-even live

Break-even rent $924

Max offer price $80,000

Occupancy floor 70%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
840 Peirson Ave Newark, NY	1.0–4.0	1.0–2.0	1175	$1,350	$1.15	2d	1	0.99mi

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-04-22
   listed $80,000 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: $3,326 · $277/mo
• Projected year-2 tax: $3,326 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,200
• − Mortgage interest: −$4,481
• − Property taxes: −$3,326
• − Insurance: −$400
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$2,327
• Taxable income: $3,074
• Est. tax owed @ 24.0%: −$738
• After-tax cash flow: $3,300/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: Newark Central School District
• NCES district ID: 3620640
• Math proficiency: 33% ▲ 2.00%
• Reading proficiency: 46% ▲ 15.00%
• Median HH income: $44,966
• Composite: 33.55/100
• National rank: #5428
• State rank: #527 of 590 in NY

Livability — Newark

• Score: 71/100
• State rank: #405
• US rank: #6978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, NY
• Population (ZIP): 13,501

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3% Native American 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 13% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -50.98%
• Current HPI: 253.627
• 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

2 events — show timeline

• 2026-04-30 Pending — UNYREIS
• 2026-04-22 Listed $80,000 UNYREIS

Property tax history

-0.3%/yr

Latest (2025): $3,326 · -4.6% YoY. Source: county tax records.