2 Lincoln St · Waverly, NY 14892

$50,000

3 bd · 1.0 ba · 1,922 sqft · SingleFamily public records · 16 Days on market

Built 1920 0.60 ac lot ↓ 23% since listing

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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
• Appreciation +6.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity in the Village of Waverly. This 3-bedroom 1-bath home offers over 1900 SF and needs a full renovation. Ideal for investors, contractors, or rehab buyers looking for a project.

Key facts

• 0.6 acre lot
• Built 1920
• Listed 16 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Enclosed porch/patio; Porch

Interior

• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Electric water heater; Carpet, hardwood, and vinyl flooring; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 4.6% in Waverly — 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 67/100 on livability (#569 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Waverly Central School District (town): math 41% / reading 46% proficiency, ranked #480 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Street Elementary School (183 students, 37% FRL).
• Market conditions: 53 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($346 loan paydown + $1k appreciation (2.8% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.66% ✓
• Cap rate: 23.24%
• Cash-on-cash: 60.52%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $184,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
536 Fulton St	0.29mi	3/1.5	1,844 (-4%)	4mo	$135,000	$73	74
12 Tioga	0.16mi	3/2.5	1,872 (-3%)	13mo	$180,000	$96	72
431 Loder St	0.33mi	3/1.5	1,874 (-2%)	15mo	$75,000	$40	66
32 Lyman Ave	0.31mi	3/1.0	2,066 (+8%)	12mo	$175,000	$85	63
1 Lyman Ave	0.54mi	4/1.5 (+1)	1,932 (+0%)	7mo	$280,000	$145	61
446 Pennsylvania Ave	0.18mi	4/1.5 (+1)	2,151 (+12%)	6mo	$140,000	$65	60
110 1/2 Providence St	0.27mi	3/1.5	1,634 (-15%)	2mo	$120,000	$73	59
6 Ithaca St	0.36mi	4/1.0 (+1)	1,824 (-5%)	16mo	$79,900	$44	56
214 William St	0.27mi	3/2.5	1,780 (-7%)	16mo	$195,000	$110	56
2473 Pennsylvania Ave	0.62mi	3/1.5	1,791 (-7%)	16mo	$240,000	$134	44
20 Court St	0.63mi	4/1.0 (+1)	1,688 (-12%)	3mo	$265,000	$157	43
35 Broad Ave	0.70mi	3/1.0	1,680 (-13%)	6mo	$242,000	$144	41

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

Projected returns pro-forma

2.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.2%
• Equity multiple: 4.60×
• Total profit: $50,427
• Equity at exit: $21,861

10-year hold

• IRR: 64.9%
• Equity multiple: 9.38×
• Total profit: $117,263
• Equity at exit: $33,215

Cash invested: $14,000 (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 14892

• Home prices YoY: 1.2%
• Active inventory: 53
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $706

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 42%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $50,000 Active 16 DOM
2. 2026-06-17
   days on market $50,000 Active 15 DOM
3. 2026-06-16
   days on market $50,000 Active 14 DOM
4. 2026-06-15
   days on market $50,000 Active 13 DOM
5. 2026-06-13
   days on market $50,000 Active 11 DOM
6. 2026-06-12
   days on market $50,000 Active 10 DOM
7. 2026-06-09
   days on market $50,000 Active 7 DOM
8. 2026-06-08
   days on market $50,000 Active 6 DOM
9. 2026-06-07
   days on market $50,000 Active 5 DOM
10. 2026-06-07
    days on market $50,000 Active 4 DOM
11. 2026-06-03
    remarks 204-char remark
12. 2026-06-03
    listed $50,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $15,973
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$1,455
• Taxable income: $8,162
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $6,514/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: Waverly Central School District
• NCES district ID: 3630270
• Math proficiency: 41% ▼ -4.00%
• Reading proficiency: 46% ▲ 8.00%
• Median HH income: $44,935
• Composite: 36.9/100
• National rank: #4544
• State rank: #480 of 590 in NY

Livability — Waverly

• Score: 67/100
• State rank: #569
• US rank: #10246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, NY
• Population (ZIP): 7,531

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 2% Two or more races 2% Black 1% Asian 1%
• Common ancestry: Iranian 3% Romanian 3% Italian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.78%
• Current HPI: 236.7714
• 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

-23.1% since first listed

6 events — show timeline

• 2026-06-02 Listed $50,000 GBAOR
• 2026-01-30 Listed $49,000 GBAOR
• 2025-12-11 Listing Removed — UNYREIS
• 2025-10-30 Price Changed $45,000 UNYREIS
• 2025-10-07 Price Changed $59,900 UNYREIS
• 2025-09-11 Listed $65,000 UNYREIS

Property tax history

+19.8%/yr

Latest (2025): $2,661 · -4.4% YoY. Source: county tax records.