17 Waite St · Norwich, NY 13815

$145,000

3 bd · 1.0 ba · 1,391 sqft · SingleFamily public records · 227 Days on market

Built 1840 7,841 sqft lot $104/sqft · 12% below area Est $166k · 12% 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).

• Cash flow +15.8/30.0
• ARV discount +13.1/15.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +4.9/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home offers nice size rooms! Living Room, dining room and a large kitchen with plenty of countertop space! Washer and Dryer on the first floor and a family room as well. There is a small room off of dining room which may make for a nice hobby room or small office. Front enclosed porch and a detached 1.5 car garage with space for tools, lawnmower etc. Call today for your appointment!

Key facts

• Front enclosed porch
• Hobby room
• Large kitchen

Tags

• LARGE KITCHEN
• PLENTY OF COUNTERTOP SPACE
• FAMILY ROOM
• HOBBY ROOM
• SMALL OFFICE
• FRONT ENCLOSED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $65 ($783/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.1% in Norwich — 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 70/100 on livability (#447 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Norwich City School District (town): math 42% / reading 43% proficiency, ranked #498 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago 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.
• Current owner paid $60k; list at $145k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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: 1.00% ✓
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• GRM: 8.3

CMA / ARV

• ARV (median comp): $165,689
• List price: $145,000
• Delta: -12.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Silver St	0.11mi	2/1.5 (-1)	1,445 (+4%)	9mo	$100,000	$69	74
146 N Broad St	0.20mi	3/1.5	1,488 (+7%)	5mo	$110,000	$74	73
7 Adams St	0.16mi	3/2.0	1,480 (+6%)	6mo	$155,820	$105	72
22 King St	0.48mi	3/1.5	1,439 (+4%)	3mo	$110,000	$76	68
72 Sheldon St	0.61mi	3/1.5	1,392 (+0%)	6mo	$156,880	$113	65
78-80 Silver St	0.13mi	3/1.5	1,598 (+15%)	8mo	$150,000	$94	61
87 Canasawacta St	0.61mi	3/1.5	1,444 (+4%)	7mo	$93,000	$64	58
36 Plymouth St	0.70mi	3/1.5	1,340 (-4%)	3mo	$115,000	$86	57
4853 State Highway 23	0.66mi	3/1.5	1,338 (-4%)	9mo	$144,200	$108	53
52 Front St	0.74mi	3/1.5	1,456 (+5%)	8mo	$72,000	$49	49
90 Canasawacta St	0.58mi	4/1.5 (+1)	1,561 (+12%)	9mo	$139,600	$89	38
50 Plymouth St	0.68mi	3/1.5	1,580 (+14%)	8mo	$168,000	$106	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $83,194
• Equity at exit: $130,627

10-year hold

• IRR: 22.6%
• Equity multiple: 6.96×
• Total profit: $241,867
• Equity at exit: $281,703

Cash invested: $40,600 (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 13815

• Home prices YoY: 8.2%
• Active inventory: 84
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$259 /mo · $3,114/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $65

Break-even live

Break-even rent $1,367

Max offer price $145,000

Occupancy floor 90%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Midland Dr Norwich, NY	3.0	1.0–1.5	755	$1,450	$1.92	43d	1	0.79mi

Listing history 24 events

1. 2026-06-18
   days on market $145,000 Active 227 DOM
2. 2026-06-17
   days on market $145,000 Active 226 DOM
3. 2026-06-16
   days on market $145,000 Active 225 DOM
4. 2026-06-15
   days on market $145,000 Active 224 DOM
5. 2026-06-13
   days on market $145,000 Active 222 DOM
6. 2026-06-12
   days on market $145,000 Active 221 DOM
7. 2026-06-09
   days on market $145,000 Active 218 DOM
8. 2026-06-08
   days on market $145,000 Active 217 DOM
9. 2026-06-07
   days on market $145,000 Active 216 DOM
10. 2026-06-07
    days on market $145,000 Active 215 DOM
11. 2026-06-04
    days on market $145,000 Active 212 DOM
12. 2026-06-02
    days on market $145,000 Active 211 DOM
13. 2026-06-01
    days on market $145,000 Active 210 DOM
14. 2026-05-31
    days on market $145,000 Active 209 DOM
15. 2026-03-19
    price $145,000 392-char remark

    Show marketing remark (392 chars)

    This home offers nice size rooms! Living Room, dining room and a large kitchen with plenty of countertop space! Washer and Dryer on the first floor and a family room as well. There is a small room off of dining room which may make for a nice hobby room or small office. Front enclosed porch and a detached 1.5 car garage with space for tools, lawnmower etc. Call today for your appointment!

16. 2025-11-02
    listed $150,000 Active 392-char remark

    Show marketing remark (392 chars)

    This home offers nice size rooms! Living Room, dining room and a large kitchen with plenty of countertop space! Washer and Dryer on the first floor and a family room as well. There is a small room off of dining room which may make for a nice hobby room or small office. Front enclosed porch and a detached 1.5 car garage with space for tools, lawnmower etc. Call today for your appointment!

17. 2021-02-02
    soldstatus $59,574
18. 2021-02-01
    soldstatus $59,574 560-char remark

    Show marketing remark (560 chars)

    Well maintained three bedroom, one full bath home on a quiet residential street in the City of Norwich. First floor offers a large eat-in kitchen with oak cabinets, open to dining area and large front living room. Large family room addition (or 4th bedroom) and first floor full bath. First floor rounded out by full length glass enclosed front porch. Second floor offers three bedrooms. Newer furnace and 200 Amp electric service in 2017. Exterior offers a private backyard and large detached garage and workshop space. Cosmetic upgrades will make this a gem!

19. 2021-02-01
    soldstatus $59,574

    Show marketing remark (560 chars)

    Well maintained three bedroom, one full bath home on a quiet residential street in the City of Norwich. First floor offers a large eat-in kitchen with oak cabinets, open to dining area and large front living room. Large family room addition (or 4th bedroom) and first floor full bath. First floor rounded out by full length glass enclosed front porch. Second floor offers three bedrooms. Newer furnace and 200 Amp electric service in 2017. Exterior offers a private backyard and large detached garage and workshop space. Cosmetic upgrades will make this a gem!

20. 2020-09-08
    listed $59,900 560-char remark

    Show marketing remark (560 chars)

    Well maintained three bedroom, one full bath home on a quiet residential street in the City of Norwich. First floor offers a large eat-in kitchen with oak cabinets, open to dining area and large front living room. Large family room addition (or 4th bedroom) and first floor full bath. First floor rounded out by full length glass enclosed front porch. Second floor offers three bedrooms. Newer furnace and 200 Amp electric service in 2017. Exterior offers a private backyard and large detached garage and workshop space. Cosmetic upgrades will make this a gem!

21. 2020-09-08
    listed $59,900

    Show marketing remark (560 chars)

    Well maintained three bedroom, one full bath home on a quiet residential street in the City of Norwich. First floor offers a large eat-in kitchen with oak cabinets, open to dining area and large front living room. Large family room addition (or 4th bedroom) and first floor full bath. First floor rounded out by full length glass enclosed front porch. Second floor offers three bedrooms. Newer furnace and 200 Amp electric service in 2017. Exterior offers a private backyard and large detached garage and workshop space. Cosmetic upgrades will make this a gem!

22. 2017-05-25
    soldstatus $53,000
23. 2017-05-25
    soldstatus $53,000
24. 2017-04-05
    listed $59,900

ⓘ 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: $3,114 · $259/mo
• Projected year-2 tax: $3,114 · $259/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $17,400
• − Mortgage interest: −$8,122
• − Property taxes: −$3,114
• − Insurance: −$725
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,218
• Taxable loss: −$1,563
• Est. tax savings @ 24.0%: +$375
• After-tax cash flow: $1,158/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: Norwich City School District
• NCES district ID: 3621330
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $40,687
• Composite: 35.68/100
• National rank: #4874
• State rank: #498 of 590 in NY

Livability — Norwich

• Score: 70/100
• State rank: #447
• US rank: #7857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, NY
• City population: 12,855
• Population (ZIP): 12,855

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 0%

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.23%
• Current HPI: 280.463
• 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

+142.1% since first listed

10 events — show timeline

• 2026-03-19 Price Changed $145,000 UNYREIS
• 2025-11-02 Listed $150,000 UNYREIS
• 2021-02-02 Sold (Public Records) $59,574 Public Records
• 2021-02-01 Sold (MLS) $59,574 ODBOR
• 2021-02-01 Sold (MLS) $59,574 UNYREIS
• 2020-09-08 Listed $59,900 ODBOR
• 2020-09-08 Listed $59,900 UNYREIS
• 2017-05-25 Sold (Public Records) $53,000 Public Records
• 2017-05-25 Sold (MLS) $53,000 UNYREIS
• 2017-04-05 Listed $59,900 UNYREIS

Property tax history

+7.4%/yr

Latest (2025): $3,114 · +1.4% YoY. Source: county tax records.