1140 N Main St · Newark, NY 14513

$54,900

4 bd · 2.0 ba · 1,729 sqft · SingleFamily public records · 205 Days on market

Built 1900 0.32 ac lot $32/sqft · 71% below area ↓ 15% since listing

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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
• 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

Listing remarks MLS

Welcome to this colonial style home located in the Village of Newark. The property has a set back from the road for some privacy. The property is over 1700 square feet with 3/4 bedrooms and 2 full bathrooms. Aluminum siding. This is a great opportunity with all the potential this home has. Convenient Village location with all near by amenties. Second floor laundry area. Front enclosed porch. First floor office/den.

Key facts

• Front enclosed porch
• Colonial style home
• Aluminum siding

Tags

• COLONIAL STYLE HOME
• SET BACK FROM THE ROAD
• ALUMINUM SIDING
• CONVENIENT VILLAGE LOCATION
• SECOND FLOOR LAUNDRY AREA
• FRONT ENCLOSED PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.91% ✓
• Cap rate: 25.61%
• Cash-on-cash: 68.98%
• DSCR: 4.07
• GRM: 2.9

CMA / ARV

• ARV (median comp): $189,818
• List price: $54,900
• Delta: -71.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 W Pearl St	0.17mi	4/2.0	1,716 (-1%)	10mo	$225,000	$131	82
1034 Plain St	0.38mi	3/1.0 (-1)	1,880 (+9%)	1mo	$165,000	$88	58
162 Bryant Ave	0.41mi	3/1.0 (-1)	1,624 (-6%)	6mo	$219,000	$135	56
454 Murray St	0.26mi	3/1.5 (-1)	1,528 (-12%)	14mo	$60,000	$39	50
215 Blackmar St	0.72mi	4/1.5	1,662 (-4%)	13mo	$45,000	$27	48
140 W Sherman Ave	0.70mi	4/2.5	1,616 (-6%)	19mo	$212,000	$131	39
121 W Sherman Ave	0.68mi	3/1.5 (-1)	1,622 (-6%)	18mo	$190,000	$117	36
6021 Whitings Corners Rd	0.61mi	4/2.0	1,540 (-11%)	23mo	$160,000	$104	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 68.5%
• Equity multiple: 4.08×
• Total profit: $47,410
• Equity at exit: $8,186

10-year hold

• IRR: 72.6%
• Equity multiple: 8.41×
• Total profit: $113,854
• Equity at exit: $4,747

Cash invested: $15,372 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,599 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $884

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 40%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $54,900 Active 205 DOM
2. 2026-06-17
   days on market $54,900 Active 204 DOM
3. 2026-06-16
   days on market $54,900 Active 203 DOM
4. 2026-06-15
   days on market $54,900 Active 202 DOM
5. 2026-06-13
   days on market $54,900 Active 200 DOM
6. 2026-06-12
   days on market $54,900 Active 199 DOM
7. 2026-06-09
   days on market $54,900 Active 196 DOM
8. 2026-06-08
   days on market $54,900 Active 195 DOM
9. 2026-06-07
   days on market $54,900 Active 194 DOM
10. 2026-06-04
    days on market $54,900 Active 190 DOM
11. 2026-06-02
    days on market $54,900 Active 189 DOM
12. 2026-06-01
    days on market $54,900 Active 188 DOM
13. 2026-05-31
    days on market $54,900 Active 187 DOM
14. 2026-04-27
    price $54,900 418-char remark

    Show marketing remark (418 chars)

    Welcome to this colonial style home located in the Village of Newark. The property has a set back from the road for some privacy. The property is over 1700 square feet with 3/4 bedrooms and 2 full bathrooms. Aluminum siding. This is a great opportunity with all the potential this home has. Convenient Village location with all near by amenties. Second floor laundry area. Front enclosed porch. First floor office/den.

15. 2025-11-23
    listed $64,900 Active 418-char remark

    Show marketing remark (418 chars)

    Welcome to this colonial style home located in the Village of Newark. The property has a set back from the road for some privacy. The property is over 1700 square feet with 3/4 bedrooms and 2 full bathrooms. Aluminum siding. This is a great opportunity with all the potential this home has. Convenient Village location with all near by amenties. Second floor laundry area. Front enclosed porch. First floor office/den.

16. 2025-11-21
    historical
17. 2025-06-20
    listed $64,900 Active

ⓘ 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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,186
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − Depreciation: −$1,597
• Taxable income: $10,346
• Est. tax owed @ 24.0%: −$2,483
• After-tax cash flow: $8,121/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

-15.4% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $54,900 UNYREIS
• 2025-11-23 Listed $64,900 UNYREIS
• 2025-11-21 Listing Removed — UNYREIS
• 2025-06-20 Listed $64,900 UNYREIS

Property tax history

+10.1%/yr

Latest (2025): $3,181 · +8.2% YoY. Source: county tax records.