114 Bank St · Newfield, NY 14867

$110,000

3 bd · 2.0 ba · 2,176 sqft · SingleFamily public records · 39 Days on market

Built 1865 0.52 ac lot

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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).

• Cash flow +23.5/30.0
• 1% rule +8.3/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Appreciation +3.6/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Perched on a hill, this spacious Fixer Upper 3 BR, 2 Bath, 2068 sq. ft Farmhouse on . 54 acres overlooks the Newfield 1853 Covered Bridge – the oldest NYS covered bridge still in use. Walk across the bridge to shops & restaurants on Main St. Just 10 minutes to Wegmans & Trader Joe’s. Near Treman State Park, Arnot Forest and Connecticut Hill for hiking, birding and cross-country skiing. On the TCAT bus line. Distant views. It was built to last in 1865 – first time on the market in over 50 years. You’ll love the broad front porch and deep yard. It’s filled with LIGHT, warmth and character: Hardwood and wide plank floors, Living Room with fireplace, F

Key facts

• Connecticut hill
• Arnot forest
• Deep yard

Tags

• NEWFIELD COVERED BRIDGE
• TREMAN STATE PARK
• ARNOT FOREST
• CONNECTICUT HILL
• BROAD FRONT PORCH
• DEEP YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.2% in Newfield — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Newfield Central School District (rural): math 32% / reading 48% proficiency, ranked #517 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Newfield Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 341 students, 56% FRL); Newfield Middle School (math 17% / reading 32%, grade F, #611 of 729 statewide, top 88%, 157 students, 80% FRL); Newfield Senior High School (math 98% / reading 87%, grade A+, #158 of 1,100 statewide, top 15%, 191 students, 54% FRL) — zoned schools average 64% FRL vs 47% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.7%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tompkins County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1865 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1865 — 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: 1.33% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $252,416
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Bank St	0.00mi	3/2.0	2,068 (-5%)	2mo	$110,000	$53	90
44 Shaffer Rd	0.35mi	4/2.0 (+1)	1,885 (-13%)	5mo	$218,000	$116	52
4 Benjamin Hill Rd	0.52mi	3/2.0	1,943 (-11%)	11mo	$285,000	$147	49

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

Projected returns pro-forma

-2.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,313
• Equity at exit: $17,752

10-year hold

• IRR: 6.5%
• Equity multiple: 1.51×
• Total profit: $15,650
• Equity at exit: $11,848

Cash invested: $30,800 (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 14867

• Home prices YoY: -1.0%
• Active inventory: 29
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$332 /mo · $3,979/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $206

Break-even live

Break-even rent $1,208

Max offer price $110,000

Occupancy floor 81%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-30
   soldstatus $110,000
2. 2026-04-10
   status Pending
3. 2026-03-06
   historical Active Under Contract
4. 2026-02-27
   listed $110,000 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: $3,979 · $332/mo
• Projected year-2 tax: $3,979 · $332/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,620
• − Mortgage interest: −$6,162
• − Property taxes: −$3,979
• − Insurance: −$550
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$3,200
• Taxable income: $910
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,250/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: Newfield Central School District
• NCES district ID: 3620790
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $50,430
• Composite: 34.47/100
• National rank: #5188
• State rank: #517 of 590 in NY

Livability — Newfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Newfield, NY
• Population (ZIP): 5,188

Population outlook (Tompkins County) Hauer SSP2

• Today (2025): 113,958 people
• By 2030: 118,774 · +4.2%
• By 2040: 125,927 · +10.5%
• By 2050: 133,599 · +17.2%
• By 2075: 156,759 · +37.6%
• By 2100: 169,896 · +49.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Iranian 15% Lithuanian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Tompkins

• 2024 margin: Solid D (+50.6) · D 75.3% · R 24.7%
• 2008→2024 swing: +8.6pp toward D · 2008: 42.1pp · 2024: 50.6pp
• All cycles: 2024: D+50.6 2020: D+49.2 2016: D+42.1 2012: D+39.8 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.72%
• Current HPI: 278.2047
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-30 Sold (Public Records) $110,000 Public Records
• 2026-04-10 Pending — IBRMLS
• 2026-03-06 Contingent — IBRMLS
• 2026-02-27 Listed $110,000 IBRMLS

Property tax history

+1.3%/yr

Latest (2025): $3,979 · -1.4% YoY. Source: county tax records.