9 W Main St · Smyrna, NY 13464

$149,900

2 bd · 1.5 ba · 2,544 sqft · SingleFamily · 70 Days on market

Built 1910 5,300 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• 1% rule +2.7/10.0
• Livability +2.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Incredible money maker investment property: Mixed-use building - Post Office with 5 year lease and large updated 2 bedroom apartment. Owner occupants: allow the first-floor anchor tenant to pay your mortgage! This well maintained building is well suited for investors looking for reliable tenants creating a low-risk investment opportunity. Tenants pay for their own utilities; two electric meters, furnaces, and water heaters. Second floor 2-bedroom apartment has fire egress with large rooms and IN-UNIT LAUNDRY. Garage for additional storage or tenant parking. First floor tenant, United States Postal Service, covers their own snow removal. Five-year lease expires in 2029, with renewal with ca

Key facts

• Fire egress
• Large rooms
• In-unit laundry

Tags

• UPDATED 2 BEDROOM APARTMENT
• FIRE EGRESS
• LARGE ROOMS
• IN-UNIT LAUNDRY
• GARAGE FOR STORAGE
• SNOW REMOVAL COVERED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (22.8% below list).
• Recommended offer: $116k (22.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#1,161 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, housing D, schools F.
• Sherburne-Earlville Central School District (rural): math 34% / reading 51% proficiency, ranked #492 of 590 in NY (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 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 + $15k 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.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,747 (22.8% 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. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.8%
• Equity multiple: 2.76×
• Total profit: $73,917
• Equity at exit: $135,042

10-year hold

• IRR: 19.6%
• Equity multiple: 6.33×
• Total profit: $223,795
• Equity at exit: $291,223

Cash invested: $41,972 (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 13464

• Home prices YoY: 4.9%
• Active inventory: 8
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $-122

Break-even live

Break-even rent $1,311

Max offer price $132,315

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-70	+0% $-122	+5% $-173	+10% $-225
Rent	-10% $-213	-5% $-167	+0% $-122	+5% $-76	+10% $-30
Rate	-1.0pp $-46	-0.5pp $-83	base $-122	+0.5pp $-160	+1.0pp $-200

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-01-23
   status Pending
2. 2024-11-11
   listed $149,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,890
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$4,361
• Taxable loss: −$4,088
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $-477/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: Sherburne-Earlville Central School District
• NCES district ID: 3626700
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 51% ▲ 12.00%
• Median HH income: $47,060
• Composite: 36.22/100
• National rank: #4725
• State rank: #492 of 590 in NY

Livability — Smyrna

• Score: 53/100
• State rank: #1161
• US rank: #24610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smyrna, NY
• Population (ZIP): 1,154

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 (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 2%
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▲ 15.85%
• Current HPI: 338.4559
• 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

• 2025-01-23 Pending — UNYREIS
• 2024-11-11 Listed $149,900 UNYREIS