85-87 Paige St · Owego, NY 13782

$102,000

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 108 Days on market

Built 1890 3,484 sqft lot $52/sqft · 41% below area Est $173k · 41% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.4/10.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Whether you are a seasoned investor expanding your portfolio or a first-time buyer looking for a smart entry into the market, this duplex offers the best of both worlds: stability and scalability. Located on a nice, low-traffic street, this property offers a side by side duplex with a quiet suburban feel. Each unit features two bedrooms and a full bath and both include 2 level living. Both units are fully rented with leases in place, making it an easy transition for a new owner. Enjoy immediate cash flow without the work of finding tenants to occupy the property. Please allow 24 hours notice for all showings.

Key facts

• 3,484 sq ft lot
• Built 1890
• Listed 107 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $102k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $662/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $102k).
• Recommended offer: $93k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 5.3% in Owego — 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 76/100 on livability (#214 in NY, #3,289 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Owego-Apalachin Central School District (town): math 62% / reading 62% proficiency, ranked #204 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 139 units permitted in Tioga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($705 loan paydown + $9k appreciation (8.7% local appreciation)).
• Tioga County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.7% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,820 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.62% ✓
• Cap rate: 21.86%
• Cash-on-cash: 55.59%
• DSCR: 3.47
• GRM: 3.2

CMA / ARV

• ARV (median comp): $172,712
• List price: $102,000
• Delta: -40.94%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Paige St	0.01mi	4/2.0	1,878 (-4%)	8mo	$70,000	$37	86
60 Paige St	0.07mi	3/2.0 (-1)	1,959 (-0%)	17mo	$107,500	$55	78
63 Spencer Ave	0.11mi	4/2.0	2,112 (+8%)	16mo	$153,000	$72	69
508 E Main St	0.56mi	5/3.0 (+1)	1,973 (+1%)	3mo	$100,000	$51	61
73 Liberty St	0.38mi	4/2.0	2,096 (+7%)	20mo	$63,000	$30	54
42 William St	0.72mi	4/2.0	2,232 (+14%)	4mo	$20,000	$9	40
119 Delphine St	0.73mi	5/3.0 (+1)	2,110 (+8%)	18mo	$165,000	$78	29

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

Projected returns pro-forma

8.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 67.0%
• Equity multiple: 5.59×
• Total profit: $131,127
• Equity at exit: $82,544

10-year hold

• IRR: 61.7%
• Equity multiple: 12.15×
• Total profit: $318,434
• Equity at exit: $168,917

Cash invested: $28,560 (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 13782

• Home prices YoY: 2.8%
• Active inventory: 18
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,668 medium
• Mortgage (P&I): −$535
• Tax from tax record: −$207 /mo · $2,486/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,323

Break-even live

Break-even rent $993

Max offer price $102,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,381	-5% $1,352	+0% $1,323	+5% $1,294	+10% $1,265
Rent	-10% $1,112	-5% $1,218	+0% $1,323	+5% $1,429	+10% $1,534
Rate	-1.0pp $1,374	-0.5pp $1,349	base $1,323	+0.5pp $1,297	+1.0pp $1,270

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,668
Total (2 units)			$2,668

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $102,000 Active 108 DOM
2. 2026-06-18
   days on market $102,000 Active 107 DOM
3. 2026-06-17
   days on market $102,000 Active 106 DOM
4. 2026-06-16
   days on market $102,000 Active 105 DOM
5. 2026-06-15
   days on market $102,000 Active 104 DOM
6. 2026-06-14
   days on market $102,000 Active 102 DOM
7. 2026-06-13
   days on market $102,000 Active 101 DOM
8. 2026-06-10
   days on market $102,000 Active 99 DOM
9. 2026-06-09
   days on market $102,000 Active 98 DOM
10. 2026-06-08
    days on market $102,000 Active 97 DOM
11. 2026-06-07
    days on market $102,000 Active 96 DOM
12. 2026-06-05
    days on market $102,000 Active 93 DOM
13. 2026-06-03
    days on market $102,000 Active 92 DOM
14. 2026-06-02
    days on market $102,000 Active 91 DOM
15. 2026-06-01
    days on market $102,000 Active 90 DOM
16. 2026-05-31
    days on market $102,000 Active 89 DOM
17. 2026-05-30
    days on market $102,000 Active 88 DOM
18. 2026-04-09
    status Active 616-char remark

    Show marketing remark (616 chars)

    Whether you are a seasoned investor expanding your portfolio or a first-time buyer looking for a smart entry into the market, this duplex offers the best of both worlds: stability and scalability. Located on a nice, low-traffic street, this property offers a side by side duplex with a quiet suburban feel. Each unit features two bedrooms and a full bath and both include 2 level living. Both units are fully rented with leases in place, making it an easy transition for a new owner. Enjoy immediate cash flow without the work of finding tenants to occupy the property. Please allow 24 hours notice for all showings.

19. 2026-03-20
    status Pending 616-char remark

    Show marketing remark (616 chars)

    Whether you are a seasoned investor expanding your portfolio or a first-time buyer looking for a smart entry into the market, this duplex offers the best of both worlds: stability and scalability. Located on a nice, low-traffic street, this property offers a side by side duplex with a quiet suburban feel. Each unit features two bedrooms and a full bath and both include 2 level living. Both units are fully rented with leases in place, making it an easy transition for a new owner. Enjoy immediate cash flow without the work of finding tenants to occupy the property. Please allow 24 hours notice for all showings.

20. 2026-02-11
    listed $102,000 Active 616-char remark

    Show marketing remark (616 chars)

    Whether you are a seasoned investor expanding your portfolio or a first-time buyer looking for a smart entry into the market, this duplex offers the best of both worlds: stability and scalability. Located on a nice, low-traffic street, this property offers a side by side duplex with a quiet suburban feel. Each unit features two bedrooms and a full bath and both include 2 level living. Both units are fully rented with leases in place, making it an easy transition for a new owner. Enjoy immediate cash flow without the work of finding tenants to occupy the property. Please allow 24 hours notice for all showings.

21. 2017-06-07
    listed $55,900

ⓘ 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: $2,486 · $207/mo
• Projected year-2 tax: $2,486 · $207/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 1/10 Low
• 🌡 Heat 3/10 Moderate 8 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,016
• − Mortgage interest: −$5,714
• − Property taxes: −$2,486
• − Insurance: −$510
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$2,967
• Taxable income: $15,216
• Est. tax owed @ 24.0%: −$3,652
• After-tax cash flow: $12,226/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: Owego-Apalachin Central School District
• NCES district ID: 3622170
• Math proficiency: 62% ▼ -1.00%
• Reading proficiency: 62% ▲ 6.00%
• Median HH income: $57,425
• Composite: 53.45/100
• National rank: #1464
• State rank: #204 of 590 in NY

Livability — Owego

• Score: 76/100
• State rank: #214
• US rank: #3289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owego, NY
• Population (ZIP): 797

Population outlook (Tioga County) Hauer SSP2

• Today (2025): 45,155 people
• By 2030: 42,801 · -5.2%
• By 2040: 37,960 · -15.9%
• By 2050: 33,071 · -26.8%
• By 2075: 24,144 · -46.5%
• By 2100: 16,545 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Iranian 16% Slovak 3% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Tioga

• 2024 margin: Strong R (+22.9) · D 38.6% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.2pp · 2024: -22.9pp
• All cycles: 2024: R+22.9 2020: R+20.6 2016: R+27.6 2012: R+15.1 2008: R+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.72%
• Current HPI: 320.0905
• 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

+82.5% since first listed

4 events — show timeline

• 2026-04-09 Relisted — GBAOR
• 2026-03-20 Pending — GBAOR
• 2026-02-11 Listed $102,000 GBAOR
• 2017-06-07 Listed $55,900 GBAOR

Property tax history

+4.8%/yr

Latest (2025): $2,486 · +47.6% YoY. Source: county tax records.