205 Church St · Newark, NY 14513

$249,000

7 bd · 3.0 ba · 4,092 sqft · MultiFamily public records · 11 Days on market

Built 1900 0.33 ac lot

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Why this score? — see what drove the C- 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

RARE OPPORTUNITY! WONT LAST! 4/5 BEDROOM RECENTLY RENOVATED OWNER OCCUPIED THREE FAMILY WITH TWO ADDITIONAL 2 BR APTS AND 2 STORY BARN! Spacious 2 story brick/stucco village home. Features include newer kitchen & baths, hardwood floors & 6 panel doors in owners unit, newer thermal windows, washer dryer hookups in all units and brand new roof on barn! Third apartment was completely gutted and is all brand new including the drywall!

Key facts

• 0.33 acre lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Lot is rectangular and residential, approximately 0.33 acres with 87 x 170 dimensions, city street frontage
• Financial info: Three-unit multifamily building with separate gas and electric meters for each unit; Operating expenses may include advertising, insurance, maintenance, snow removal, trash, and water/sewer; Current rents include approximately $995, $1,175 and $1,475 for the individual units (units may be leased)

Exterior

• Parking: One garage space; Paved parking with two or more spaces available
• Utilities: High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical
• Home design: Two-story building; Resale property
• Construction: Brick and stucco exterior; PEX plumbing
• Exterior features: Covered porch

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher (in at least one unit); Dining area in one unit
• Bedrooms: Two 2-bedroom units and one 5-bedroom unit (unit mix includes 2-bed, 2-bed, and 5-bed layouts)
• Flooring: Carpet; Laminate; Varies by unit
• Bathrooms: Four full bathrooms total across the building; individual units have one or two full bathrooms
• Heating & cooling: Gas heating; Forced air; Hot water heating
• Interior features: Ceiling fans; Natural woodwork
• Laundry & utility: In-unit laundry in one unit; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive. Per door: $193/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Cap rate 8.2% vs local median 5.0% in Newark — 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 71/100 on livability (#405 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B; Watch: schools D+, employment D+, crime F.
• Newark Central School District (town): math 33% / reading 46% proficiency, ranked #527 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 259 units permitted in Wayne County in 2024 (90 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wayne County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $138k; list at $249k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.08% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-15,703
• Equity at exit: $37,127

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $18,219
• Equity at exit: $21,529

Cash invested: $69,720 (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 14513

• Home prices YoY: -16.7%
• Active inventory: 44
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$337 /mo · $4,049/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $386

Break-even live

Break-even rent $2,211

Max offer price $249,000

Occupancy floor 81%

Sensitivity live

Price	-10% $527	-5% $457	+0% $386	+5% $316	+10% $245
Rent	-10% $173	-5% $279	+0% $386	+5% $493	+10% $599
Rate	-1.0pp $511	-0.5pp $449	base $386	+0.5pp $322	+1.0pp $256

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$2,700
Total (2 units)			$2,700

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-21
   status Pending
2. 2026-04-15
   historical Active Under Contract
3. 2026-04-10
   listed $249,000 Active
4. 2019-01-30
   soldstatus $138,000 Closed Sale or Rented 446-char remark

   Show marketing remark (446 chars)

   RARE OPPORTUNITY! WONT LAST! 4/5 BEDROOM RECENTLY RENOVATED OWNER OCCUPIED THREE FAMILY WITH TWO ADDITIONAL 2 BR APTS AND 2 STORY BARN! Spacious 2 story brick/stucco village home. Features include newer kitchen & baths, hardwood floors & 6 panel doors in owners unit, newer thermal windows, washer dryer hookups in all units and brand new roof on barn! Third apartment was completely gutted and is all brand new including the drywall!

5. 2019-01-30
   soldstatus $138,000

   Show marketing remark (446 chars)

   RARE OPPORTUNITY! WONT LAST! 4/5 BEDROOM RECENTLY RENOVATED OWNER OCCUPIED THREE FAMILY WITH TWO ADDITIONAL 2 BR APTS AND 2 STORY BARN! Spacious 2 story brick/stucco village home. Features include newer kitchen & baths, hardwood floors & 6 panel doors in owners unit, newer thermal windows, washer dryer hookups in all units and brand new roof on barn! Third apartment was completely gutted and is all brand new including the drywall!

6. 2018-12-14
   status Under Contract- Do Not Show 446-char remark

   Show marketing remark (446 chars)

   RARE OPPORTUNITY! WONT LAST! 4/5 BEDROOM RECENTLY RENOVATED OWNER OCCUPIED THREE FAMILY WITH TWO ADDITIONAL 2 BR APTS AND 2 STORY BARN! Spacious 2 story brick/stucco village home. Features include newer kitchen & baths, hardwood floors & 6 panel doors in owners unit, newer thermal windows, washer dryer hookups in all units and brand new roof on barn! Third apartment was completely gutted and is all brand new including the drywall!

7. 2018-12-07
   listed $136,500 Active 446-char remark

   Show marketing remark (446 chars)

   RARE OPPORTUNITY! WONT LAST! 4/5 BEDROOM RECENTLY RENOVATED OWNER OCCUPIED THREE FAMILY WITH TWO ADDITIONAL 2 BR APTS AND 2 STORY BARN! Spacious 2 story brick/stucco village home. Features include newer kitchen & baths, hardwood floors & 6 panel doors in owners unit, newer thermal windows, washer dryer hookups in all units and brand new roof on barn! Third apartment was completely gutted and is all brand new including the drywall!

ⓘ 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: $4,049 · $337/mo
• Projected year-2 tax: $4,128 · $344/mo
• Expected delta: +$80/yr (+$7/mo · 2.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,400
• − Mortgage interest: −$13,948
• − Property taxes: −$4,049
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − Depreciation: −$7,244
• Taxable income: $731
• Est. tax owed @ 24.0%: −$175
• After-tax cash flow: $4,457/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: Newark Central School District
• NCES district ID: 3620640
• Math proficiency: 33% ▲ 2.00%
• Reading proficiency: 46% ▲ 15.00%
• Median HH income: $44,966
• Composite: 33.55/100
• National rank: #5428
• State rank: #527 of 590 in NY

Livability — Newark

• Score: 71/100
• State rank: #405
• US rank: #6978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, NY
• Population (ZIP): 13,501

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 85,662 people
• By 2030: 81,945 · -4.3%
• By 2040: 73,735 · -13.9%
• By 2050: 65,029 · -24.1%
• By 2075: 47,451 · -44.6%
• By 2100: 31,574 · -63.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3% Native American 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 13% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Wayne

• 2024 margin: Strong R (+23.1) · D 38.5% · R 61.5%
• 2008→2024 swing: -13.2pp toward R · 2008: -9.9pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+26.1 2012: R+9.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.98%
• Current HPI: 253.627
• 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

+82.4% since first listed

7 events — show timeline

• 2026-04-21 Pending — UNYREIS
• 2026-04-15 Contingent — UNYREIS
• 2026-04-10 Listed $249,000 UNYREIS
• 2019-01-30 Sold (Public Records) $138,000 Public Records
• 2019-01-30 Sold (MLS) $138,000 UNYREIS
• 2018-12-14 Pending — UNYREIS
• 2018-12-07 Listed $136,500 UNYREIS

Property tax history

+4.1%/yr

Latest (2025): $4,049 · +2.7% YoY. Source: county tax records.