24669 State Highway 97 · Hancock, NY 13783

$155,000

6 bd · 2.0 ba · 1,800 sqft · SingleFamily · 63 Days on market

Built 1920 0.86 ac lot $86/sqft · 48% below area Est $301k · 48% under

---

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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• 1% rule +5.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0

Listing remarks MLS

Set in the idyllic fishing town of Hancock, stands this diamond in the rough on close to one acre of land and in short walking distance to the Delaware river. This majestic beauty has been patiently waiting for a makeover to restore to her former glory. Some work started during the pandemic but halted thereafter. All the drywall has been completed in the interior and fully renovated, can make the perfect family or vacation home. If you're not afraid to take on a big renovation project, this property has tons of space and tons of potential. Come take a look and envision all this property has to offer!

Key facts

• Fully renovated
• Drywall completed
• One acre of land

Tags

• ONE ACRE OF LAND
• DRYWALL COMPLETED
• FULLY RENOVATED

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (18.2% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $127k (18.2% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.4% in Hancock — 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 (#454 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D+, amenities D, commute F.
• Hancock Central School District (rural): math 40% / reading 40% proficiency, ranked #649 of 755 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y 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 $24k; list at $155k implies a 546% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,821 (18.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
8. 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.
9. 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.
10. 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: 1.00% ✓
• Cap rate: 5.06%
• Cash-on-cash: -4.41%
• DSCR: 0.80
• GRM: 8.3

CMA / ARV

• ARV (median comp): $300,703
• List price: $155,000
• Delta: -48.45%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.2%
• Equity multiple: 2.72×
• Total profit: $74,476
• Equity at exit: $139,636

10-year hold

• IRR: 19.2%
• Equity multiple: 6.25×
• Total profit: $227,742
• Equity at exit: $301,131

Cash invested: $43,400 (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 13783

• Home prices YoY: 2.9%
• Active inventory: 57
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$511 /mo · $6,128/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-160

Break-even live

Break-even rent $1,757

Max offer price $126,821

Occupancy floor —

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-14
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Set in the idyllic fishing town of Hancock, stands this diamond in the rough on close to one acre of land and in short walking distance to the Delaware river. This majestic beauty has been patiently waiting for a makeover to restore to her former glory. Some work started during the pandemic but halted thereafter. All the drywall has been completed in the interior and fully renovated, can make the perfect family or vacation home. If you're not afraid to take on a big renovation project, this property has tons of space and tons of potential. Come take a look and envision all this property has to offer!

2. 2026-03-12
   listed $155,000 Active 609-char remark

   Show marketing remark (609 chars)

   Set in the idyllic fishing town of Hancock, stands this diamond in the rough on close to one acre of land and in short walking distance to the Delaware river. This majestic beauty has been patiently waiting for a makeover to restore to her former glory. Some work started during the pandemic but halted thereafter. All the drywall has been completed in the interior and fully renovated, can make the perfect family or vacation home. If you're not afraid to take on a big renovation project, this property has tons of space and tons of potential. Come take a look and envision all this property has to offer!

3. 2020-10-12
   soldstatus $24,000 315-char remark

   Show marketing remark (315 chars)

   This majestic lady is ready for the taking! Home boasts 5 bedrooms 2 baths and beautiful wood details. Gorgeous staircase, pocket doors and wood trim throughout. All with a spacious back yard. Within walking distance to the bus that takes you directly into NYC's Port Authority. Priced to move. Broker owned

4. 2020-07-30
   soldstatus $50,000
5. 2020-07-22
   soldstatus $24,000
6. 2020-07-22
   soldstatus $24,000
7. 2020-07-22
   soldstatus
8. 2020-03-09
   listed $24,000 315-char remark

   Show marketing remark (315 chars)

   This majestic lady is ready for the taking! Home boasts 5 bedrooms 2 baths and beautiful wood details. Gorgeous staircase, pocket doors and wood trim throughout. All with a spacious back yard. Within walking distance to the bus that takes you directly into NYC's Port Authority. Priced to move. Broker owned

9. 2020-03-02
   listed $24,000
10. 2020-03-02
    listed $24,000
11. 2020-03-02
    listed $24,000
12. 2016-12-09
    soldstatus $18,750
13. 2016-10-28
    historical
14. 2016-09-28
    listed $19,900
15. 2016-09-09
    listed $22,500
16. 2016-03-25
    listed $44,000
17. 2016-03-25
    listed $49,900

ⓘ 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: $6,128 · $511/mo
• Projected year-2 tax: $6,128 · $511/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 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: $18,662
• − Mortgage interest: −$8,682
• − Property taxes: −$6,128
• − Insurance: −$775
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$4,509
• Taxable loss: −$4,419
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $-854/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: Hancock Central School District
• NCES district ID: 3613560
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $40,208
• Composite: 35.99/100
• National rank: #9539
• State rank: #649 of 755 in NY

Livability — Hancock

• Score: 70/100
• State rank: #454
• US rank: #7935

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hancock, NY
• Population (ZIP): 2,200

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Asian 3% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Serbian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 97% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.62%
• Current HPI: 484.0977
• 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

+252.3% since first listed

17 events — show timeline

• 2026-05-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Listed $155,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-12 Sold (MLS) $24,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-30 Sold (Public Records) $50,000 Public Records
• 2020-07-22 Sold (MLS) — PWMLS
• 2020-07-22 Sold (MLS) $24,000 PWMLS
• 2020-07-22 Sold (MLS) $24,000 PWMLS
• 2020-03-09 Listed $24,000 OneKey® MLS as Distributed by MLS Grid
• 2020-03-02 Listed $24,000 PWMLS
• 2020-03-02 Listed $24,000 PWMLS
• 2020-03-02 Listed $24,000 PWMLS
• 2016-12-09 Sold (MLS) $18,750 UNYREIS
• 2016-10-28 Listing Removed — UNYREIS
• 2016-09-28 Listed $19,900 UNYREIS
• 2016-09-09 Listed $22,500 UNYREIS
• 2016-03-25 Listed $49,900 UNYREIS
• 2016-03-25 Listed $44,000 UNYREIS

Property tax history

+1.7%/yr

Latest (2025): $6,128 · +2.7% YoY. Source: county tax records.