113 Little John Ln · Norwich, NY 13815

$69,900

2 bd · 2.0 ba · 800 sqft · MultiFamily · 39 Days on market

Built 2026 Poor condition $87/sqft · 218% above area

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• Built 2026
• Listed 39 days

Property features AI

Finance

• HOA & community: Trails/paths in the community; Monthly land lease: $405

Exterior

• Parking: No garage
• Utilities: Electricity available with circuit breakers; Public water available (not connected); Septic tank; High-speed internet available
• Home design: Single-wide mobile home; One story; Resale unit; Titan Affinity model
• Construction: Vinyl siding; PEX plumbing; Pillar/post/pier foundation; Existing (previously built) unit
• Exterior features: Gravel driveway; Rectangular lot on a private road

Interior

• Kitchen: Dishwasher; Electric oven and electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Propane forced-air heating
• Interior features: Kitchen and family room combined; Primary bedroom on the main level with an en-suite bath; Bedroom on main level
• Laundry & utility: Laundry located on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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.
• 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: 84 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 $7k of equity ($483 loan paydown + $7k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.44% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.98%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $22,000
• List price: $69,900
• Delta: 217.73%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 38.4%
• Equity multiple: 3.95×
• Total profit: $57,800
• Equity at exit: $62,971

10-year hold

• IRR: 33.1%
• Equity multiple: 8.91×
• Total profit: $154,736
• Equity at exit: $135,800

Cash invested: $19,572 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,003 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $310

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 64%

Sensitivity live

Price	-10% $358	-5% $334	+0% $310	+5% $285	+10% $261
Rent	-10% $230	-5% $270	+0% $310	+5% $349	+10% $389
Rate	-1.0pp $345	-0.5pp $327	base $310	+0.5pp $291	+1.0pp $273

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $69,900 Active 39 DOM
2. 2026-06-18
   days on market $69,900 Active 37 DOM
3. 2026-06-17
   days on market $69,900 Active 36 DOM
4. 2026-06-16
   days on market $69,900 Active 35 DOM
5. 2026-06-15
   days on market $69,900 Active 34 DOM
6. 2026-06-13
   days on market $69,900 Active 32 DOM
7. 2026-06-12
   days on market $69,900 Active 31 DOM
8. 2026-06-09
   days on market $69,900 Active 28 DOM
9. 2026-06-08
   days on market $69,900 Active 27 DOM
10. 2026-06-07
    days on market $69,900 Active 26 DOM
11. 2026-06-07
    days on market $69,900 Active 25 DOM
12. 2026-06-04
    days on market $69,900 Active 22 DOM
13. 2026-06-02
    days on market $69,900 Active 21 DOM
14. 2026-06-01
    days on market $69,900 Active 20 DOM
15. 2026-05-31
    days on market $69,900 Active 19 DOM
16. 2026-05-12
    listed $69,900 Active 327-char remark
17. 2026-03-06
    listed $995

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 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: $12,040
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$2,033
• Taxable income: $2,766
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $3,051/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its roof, exterior, landscaping, and interior systems. Significant investment is needed to bring the property up to a livable condition and increase its resale and rental value.

Repairs flagged

• Major roof — Signs of potential leaks and wear.
• Major exterior siding — Peeling and faded paint indicate significant damage.
• Major exterior paint — Faded paint suggests the need for repainting.
• Major landscaping — Overgrown and unkempt appearance requires trimming and planting.
• Major interior walls and flooring — The exterior condition suggests the interior may also be in poor condition, requiring repairs and updates.
• Major systems — The overall condition suggests outdated or damaged systems need replacement or repair.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and reduce maintenance costs.
• Resale exterior siding and paint — Fresh siding and paint will enhance the home's curb appeal and value.
• Both landscaping — A well-maintained landscape will improve the home's curb appeal and attract potential buyers/tenants.
• Resale interior repairs and updates — Updating the interior will make the home more attractive and functional for potential buyers.
• Resale system upgrades — Upgrading outdated systems will improve the home's functionality and attract potential buyers.
• Rental renovation of common areas — Renovating common areas will make the property more attractive to tenants and increase rental income.
• Both landscaping and curb appeal — A well-maintained landscape will improve the home's curb appeal and attract potential buyers/tenants.
• Resale interior repairs and updates — Updating the interior will make the home more attractive and functional for potential buyers.
• Resale system upgrades — Upgrading outdated systems will improve the home's functionality and attract potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential leaks and wear.	Major	$15,000–50,000
exterior siding · Peeling and faded paint indicate significant damage.	Major	$15,000–50,000
exterior paint · Faded paint suggests the need for repainting.	Major	$15,000–50,000
landscaping · Overgrown and unkempt appearance requires trimming and planting.	Major	$15,000–50,000
interior walls and flooring · The exterior condition suggests the interior may also be in poor condition, requiring repairs and updates.	Major	$15,000–50,000
systems · The overall condition suggests outdated or damaged systems need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the home's appearance and reduce maintenance costs. ↑
• Resale exterior siding and paint — Fresh siding and paint will enhance the home's curb appeal and value. ↑
• Both landscaping — A well-maintained landscape will improve the home's curb appeal and attract potential buyers/tenants. ↑
• Resale interior repairs and updates — Updating the interior will make the home more attractive and functional for potential buyers. ↑
• Resale system upgrades — Upgrading outdated systems will improve the home's functionality and attract potential buyers. ↑
• Rental renovation of common areas — Renovating common areas will make the property more attractive to tenants and increase rental income. ↑
• Both landscaping and curb appeal — A well-maintained landscape will improve the home's curb appeal and attract potential buyers/tenants. ↑
• Resale interior repairs and updates — Updating the interior will make the home more attractive and functional for potential buyers. ↑
• Resale system upgrades — Upgrading outdated systems will improve the home's functionality and attract potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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

• 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

2 events — show timeline

• 2026-05-12 Listed $69,900 UNYREIS
• 2026-03-06 Listed for Rent $995 APPFOLIO