948 State Route 41 · Deposit, NY 13754

$99,999

3 bd · 1.0 ba · 2,820 sqft · SingleFamily public records · 77 Days on market

Built 1850 2.10 ac lot $35/sqft · 80% below 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
• 1% rule +8.7/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Unlock the potential at 948 State Route 41 in Deposit, NY—a spacious 3-bedroom, 1-bath two-story home offering approximately 2,820 square feet ready for transformation. This property presents a rare opportunity for investors, contractors, or buyers with vision to reimagine and maximize its full potential. With its generous layout and substantial square footage, the possibilities are endless—create a large single-family residence, design a customized layout, or bring your next investment project to life. Situated in a quiet setting with easy access to local amenities and major roadways, this property offers both space and convenience. Whether you’re looking to renovate, rebuild, or invest, this is your chance to turn opportunity into value. Bring your ideas and unlock what this property can truly become. Please note: No interior access permitted. Showings are limited to exterior viewing only. Do not enter the property.

Key facts

• 2.1 acre lot
• Built 1850
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.8% in Deposit — 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 (#616 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Deposit Central School District (rural): math 58% / reading 49% proficiency, ranked #417 of 755 in NY (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($691 loan paydown + $6k appreciation (5.9% local appreciation)).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $35k; list at $100k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.37% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

• ARV (median comp): $511,751
• List price: $99,999
• Delta: -80.46%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.93×
• Total profit: $53,927
• Equity at exit: $62,420

10-year hold

• IRR: 27.6%
• Equity multiple: 5.96×
• Total profit: $138,831
• Equity at exit: $112,815

Cash invested: $28,000 (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 13754

• Home prices YoY: 2.2%
• Active inventory: 31
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,370 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $400

Break-even live

Break-even rent $864

Max offer price $99,999

Occupancy floor 66%

Sensitivity live

Price	-10% $456	-5% $428	+0% $400	+5% $371	+10% $343
Rent	-10% $291	-5% $346	+0% $400	+5% $454	+10% $508
Rate	-1.0pp $450	-0.5pp $425	base $400	+0.5pp $374	+1.0pp $347

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $99,999 Active 77 DOM
2. 2026-06-18
   days on market $99,999 Active 75 DOM
3. 2026-06-17
   days on market $99,999 Active 74 DOM
4. 2026-06-16
   days on market $99,999 Active 73 DOM
5. 2026-06-15
   days on market $99,999 Active 72 DOM
6. 2026-06-13
   days on market $99,999 Active 70 DOM
7. 2026-06-12
   days on market $99,999 Active 69 DOM
8. 2026-06-09
   days on market $99,999 Active 66 DOM
9. 2026-06-08
   days on market $99,999 Active 65 DOM
10. 2026-06-07
    days on market $99,999 Active 64 DOM
11. 2026-06-07
    days on market $99,999 Active 63 DOM
12. 2026-06-04
    days on market $99,999 Active 60 DOM
13. 2026-06-02
    days on market $99,999 Active 59 DOM
14. 2026-06-01
    days on market $99,999 Active 58 DOM
15. 2026-05-31
    days on market $99,999 Active 57 DOM
16. 2026-04-04
    listed $99,999 Active 952-char remark

    Show marketing remark (952 chars)

    Unlock the potential at 948 State Route 41 in Deposit, NY—a spacious 3-bedroom, 1-bath two-story home offering approximately 2,820 square feet ready for transformation. This property presents a rare opportunity for investors, contractors, or buyers with vision to reimagine and maximize its full potential. With its generous layout and substantial square footage, the possibilities are endless—create a large single-family residence, design a customized layout, or bring your next investment project to life. Situated in a quiet setting with easy access to local amenities and major roadways, this property offers both space and convenience. Whether you’re looking to renovate, rebuild, or invest, this is your chance to turn opportunity into value. Bring your ideas and unlock what this property can truly become. Please note: No interior access permitted. Showings are limited to exterior viewing only. Do not enter the property.

17. 2023-04-01
    soldstatus $35,000 Closed Sale or Rented 755-char remark

    Show marketing remark (755 chars)

    BRING YOUR MASONARY AND CARPENTRY SKILLS!! This 1850's farmhouse will need a remodel. Being soldin "AS IS, WHERE IS " condition. Some repairs have been started. Floor beams in kitchen and adjoining room have been replaced. NEWER STEEL ROOF, a few new windows. Huge LR with newly sheet rocked walls. adjoining first floor bedroom or den 1/2 bath and two additional rooms. Some cabinets and counters in kitchen, electric stove. Hookup for washer & dryer. 4 second floor bedrooms and full bath. Partial basement with (2) 275 oil tanks, furnace and hot water heater. Drilled well, septic unknown. Basement wall will need repair. No utilities on at this time. Stream borders side of property. LOW TAXES! BRING US OFFERS!! GREAT PROJECT HOME. !.

18. 2022-08-12
    listed $46,500 755-char remark

    Show marketing remark (755 chars)

    BRING YOUR MASONARY AND CARPENTRY SKILLS!! This 1850's farmhouse will need a remodel. Being soldin "AS IS, WHERE IS " condition. Some repairs have been started. Floor beams in kitchen and adjoining room have been replaced. NEWER STEEL ROOF, a few new windows. Huge LR with newly sheet rocked walls. adjoining first floor bedroom or den 1/2 bath and two additional rooms. Some cabinets and counters in kitchen, electric stove. Hookup for washer & dryer. 4 second floor bedrooms and full bath. Partial basement with (2) 275 oil tanks, furnace and hot water heater. Drilled well, septic unknown. Basement wall will need repair. No utilities on at this time. Stream borders side of property. LOW TAXES! BRING US OFFERS!! GREAT PROJECT HOME. !.

19. 2008-05-12
    soldstatus $15,000
20. 2007-10-23
    listed $29,000

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $1,211 · $101/mo
• Expected delta: +$479/yr (+$40/mo · 65.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 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: $16,441
• − Mortgage interest: −$5,601
• − Property taxes: −$733
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$2,909
• Taxable income: $3,401
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $3,980/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: Deposit Central School District
• NCES district ID: 3609060
• Math proficiency: 58% ▲ 1.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $40,214
• Composite: 46.65/100
• National rank: #5268
• State rank: #417 of 755 in NY

Livability — Deposit

• Score: 67/100
• State rank: #616
• US rank: #11200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,793

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Iranian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 274.797
• 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

+244.8% since first listed

5 events — show timeline

• 2026-04-04 Listed $99,999 OneKey® MLS as Distributed by MLS Grid
• 2023-04-01 Sold (MLS) $35,000 UNYREIS
• 2022-08-12 Listed $46,500 UNYREIS
• 2008-05-12 Sold (MLS) $15,000 UNYREIS
• 2007-10-23 Listed $29,000 UNYREIS

Property tax history

-6.8%/yr

Latest (2025): $733 · +4.2% YoY. Source: county tax records.