25 North St · McGraw, NY 13101

$129,000

8 bd · 3.0 ba · 3,535 sqft · MultiFamily public records · 263 Days on market

Built 1830 7,370 sqft 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
• Appreciation +7.4/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Opportunity to own a 3 unit fully rented with all separate utilities (Gas and electric). Monthly rental $2050. Flood insurance needed.

Key facts

• New floors
• New porches
• New paint

Tags

• CORNER LOT
• UPDATED KITCHEN
• NEW FLOORS
• NEW WINDOWS
• NEW PAINT
• NEW PORCHES

What this means for you Summary

Snapshot

• This is a 1×3bd/1.3ba + 2×2bd/1.3ba units multifamily listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $386/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#411 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F.
• Mcgraw Central School District (rural): math 57% / reading 61% proficiency, ranked #252 of 590 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mcgraw Elementary School (math 47% / reading 52%, grade D, #1,085 of 2,108 statewide, top 56%, 232 students, 57% FRL); Mcgraw Secondary School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 282 students, 52% FRL).
• Market conditions: 13 active listings in the ZIP; 45 units permitted in Cortland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($892 loan paydown + $6k appreciation (4.9% local appreciation)).
• Cortland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $129k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.53% ✓
• Cap rate: 21.35%
• Cash-on-cash: 53.77%
• DSCR: 3.39
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.8%
• Equity multiple: 3.85×
• Total profit: $102,819
• Equity at exit: $71,986

10-year hold

• IRR: 44.9%
• Equity multiple: 7.87×
• Total profit: $248,290
• Equity at exit: $123,325

Cash invested: $36,120 (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 13101

• Home prices YoY: 1.6%
• Active inventory: 13
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,261 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$227 /mo · $2,729/yr
• Insurance: −$54
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $1,158

Break-even live

Break-even rent $1,795

Max offer price $129,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,231	-5% $1,195	+0% $1,158	+5% $1,122	+10% $1,085
Rent	-10% $901	-5% $1,029	+0% $1,158	+5% $1,287	+10% $1,416
Rate	-1.0pp $1,223	-0.5pp $1,191	base $1,158	+0.5pp $1,125	+1.0pp $1,091

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1.3	$1,143
▸ 2× units	2	1.3	$2,118
Total (3 units)			$3,261

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-03
   status Pending
2. 2026-02-13
   historical Active Under Contract
3. 2025-10-20
   price $129,000
4. 2025-09-30
   status Active
5. 2025-08-27
   historical Active Under Contract
6. 2025-08-14
   price $139,000
7. 2025-07-14
   listed $149,000 Active
8. 2018-10-18
   soldstatus $60,000
9. 2018-10-12
   soldstatus $60,000 134-char remark

   Show marketing remark (134 chars)

   Opportunity to own a 3 unit fully rented with all separate utilities (Gas and electric). Monthly rental $2050. Flood insurance needed.

10. 2018-05-31
    listed $72,900 134-char remark

    Show marketing remark (134 chars)

    Opportunity to own a 3 unit fully rented with all separate utilities (Gas and electric). Monthly rental $2050. Flood insurance needed.

11. 2015-08-27
    historical
12. 2015-04-27
    listed $97,000
13. 2015-04-27
    listed $97,000
14. 2006-02-27
    soldstatus $47,000

ⓘ 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: $2,729 · $227/mo
• Projected year-2 tax: $2,729 · $227/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°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: $39,132
• − Mortgage interest: −$7,226
• − Property taxes: −$2,729
• − Insurance: −$6,170
• − Repairs & maintenance: −$3,131
• − Management: −$3,131
• − Depreciation: −$3,753
• Taxable income: $12,993
• Est. tax owed @ 24.0%: −$3,118
• After-tax cash flow: $10,779/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: Mcgraw Central School District
• NCES district ID: 3618840
• Math proficiency: 57% ▲ 7.00%
• Reading proficiency: 61% ▲ 11.00%
• Median HH income: $51,404
• Composite: 50.37/100
• National rank: #1875
• State rank: #252 of 590 in NY

Livability — McGraw

• Score: 71/100
• State rank: #411
• US rank: #7091

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McGraw, NY
• Population (ZIP): 2,221

Population outlook (Cortland County) Hauer SSP2

• Today (2025): 47,543 people
• By 2030: 46,107 · -3.0%
• By 2040: 43,122 · -9.3%
• By 2050: 40,216 · -15.4%
• By 2075: 34,717 · -27.0%
• By 2100: 28,953 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Iranian 3% Serbian 2%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cortland

• 2024 margin: Lean R (+6.4) · D 46.8% · R 53.2%
• 2008→2024 swing: -16.4pp toward R · 2008: 10.0pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+1.9 2016: R+6.7 2012: D+8.8 2008: D+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.86%
• Current HPI: 305.3272
• 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

+174.5% since first listed

14 events — show timeline

• 2026-04-03 Pending — CNYIS
• 2026-02-13 Contingent — CNYIS
• 2025-10-20 Price Changed $129,000 CNYIS
• 2025-09-30 Relisted — CNYIS
• 2025-08-27 Contingent — CNYIS
• 2025-08-14 Price Changed $139,000 CNYIS
• 2025-07-14 Listed $149,000 CNYIS
• 2018-10-18 Sold (Public Records) $60,000 Public Records
• 2018-10-12 Sold (MLS) $60,000 CNYIS
• 2018-05-31 Listed $72,900 CNYIS
• 2015-08-27 Listing Removed — CNYIS
• 2015-04-27 Listed $97,000 IBRMLS
• 2015-04-27 Listed $97,000 CNYIS
• 2006-02-27 Sold (Public Records) $47,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,729 · +3.1% YoY. Source: county tax records.