1789 Main St · Delanson, NY 12053

$235,000

15 bd · 9.0 ba · 2,676 sqft · MultiFamily · 31 Days on market

Built 1920 Fair condition 5,662 sqft lot

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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 +28.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

-- Very Good Condition

Key facts

• Off street parking
• Village water
• Separately metered

Tags

• OFF STREET PARKING
• VILLAGE WATER
• SEPARATELY METERED

Property features AI

Finance

• Other: Fuel tank(s) present
• Financial info: Property configured as a 3-unit multifamily; Maintenance expense listed; Tenants pay trash collection, hot water, heat, and electricity; Owner pays trash collection, sewer, snow removal, water, and grounds care

Exterior

• Parking: Off-street parking for 4 vehicles; Stone parking surface
• Security: Smoke detector(s); Carbon monoxide detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers
• Home design: Triplex; Facing direction not specified; Entry level details not specified
• Construction: Clapboard and shingle siding with drywall interior; Asphalt roof; Pillar/post/pier and stone foundation; Year built not specified
• Exterior features: Covered rear porch; Porch; Level, cleared lot with road frontage

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 1 bedroom on the 1st floor; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms on the 1st floor
• Flooring: Hardwood; Vinyl; Carpet
• Bathrooms: 3 full bathrooms total; Full baths located on 1st and 2nd floors
• Heating & cooling: Forced air heating; Propane fuel
• Interior features: Built-in features; Double-pane windows; Bay window(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Main level and upper level laundry access

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 2×2bd/1ba units multifamily listed at $235k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive. Per door: $140/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#601 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A-; Watch: crime D-, amenities F, commute F.
• Duanesburg Central School District (rural): math 54% / reading 71% proficiency, ranked #176 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 49 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $122k; list at $235k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 1.27% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.9%
• Equity multiple: 3.35×
• Total profit: $154,948
• Equity at exit: $211,707

10-year hold

• IRR: 25.9%
• Equity multiple: 7.62×
• Total profit: $435,755
• Equity at exit: $456,553

Cash invested: $65,800 (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 12053

• Home prices YoY: 7.1%
• Active inventory: 49
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $2,984 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $420

Break-even live

Break-even rent $2,453

Max offer price $235,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$918
▸ 2× units	2	1	$2,066
Total (3 units)			$2,984

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $235,000 Active 31 DOM
2. 2026-06-17
   days on market $235,000 Active 30 DOM
3. 2026-06-16
   days on market $235,000 Active 29 DOM
4. 2026-06-15
   days on market $235,000 Active 28 DOM
5. 2026-06-14
   days on market $235,000 Active 26 DOM
6. 2026-06-13
   days on market $235,000 Active 25 DOM
7. 2026-06-10
   days on market $235,000 Active 23 DOM
8. 2026-06-09
   days on market $235,000 Active 22 DOM
9. 2026-06-08
   days on market $235,000 Active 21 DOM
10. 2026-06-07
    remarks 592-char remark
11. 2026-06-07
    pricedays on market $235,000 Active 20 DOM
12. 2026-06-03
    days on market $239,000 Active 16 DOM
13. 2026-06-02
    days on market $239,000 Active 15 DOM
14. 2026-06-01
    days on market $239,000 Active 14 DOM
15. 2026-05-31
    days on market $239,000 Active 13 DOM
16. 2026-05-31
    days on market $239,000 Active 12 DOM
17. 2026-04-30
    status Pending
18. 2026-04-21
    listed $239,000 Active
19. 2003-09-29
    soldstatus $122,000 22-char remark

    Show marketing remark (22 chars)

    -- Very Good Condition

20. 2003-06-13
    listed $119,000 22-char remark

    Show marketing remark (22 chars)

    -- Very Good Condition

ⓘ 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 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,808
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$4,940
• − Repairs & maintenance: −$2,865
• − Management: −$2,865
• − Depreciation: −$6,836
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $4,648/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-family dwelling requires moderate renovations to improve its condition and increase its value.

Repairs flagged

• Major Exterior siding — Weathered and peeling
• Major Kitchen — No photos of kitchen
• Moderate Bathrooms — Appears dated and in need of updates
• Moderate Flooring — Worn and in need of replacement
• Moderate Paint — Chipped in some areas
• Moderate HVAC/mechanicals — No photos of HVAC/mechanicals

Value-add opportunities

• Both Painting and updating bathrooms — Improves appearance and functionality
• Both Replacing worn flooring — Enhances comfort and value
• Both Upgrading HVAC/mechanicals — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and peeling	Major	$15,000–50,000
Kitchen · No photos of kitchen	Major	$15,000–50,000
Bathrooms · Appears dated and in need of updates	Moderate	$3,000–15,000
Flooring · Worn and in need of replacement	Moderate	$3,000–15,000
Paint · Chipped in some areas	Moderate	$3,000–15,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Moderate	$3,000–15,000
Total estimated repair cost · 6 items		$42,000–160,000

Value-add ROI direction

• Both Painting and updating bathrooms — Improves appearance and functionality ↑
• Both Replacing worn flooring — Enhances comfort and value ↑
• Both Upgrading HVAC/mechanicals — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Duanesburg Central School District
• NCES district ID: 3609360
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 71% ▲ 9.00%
• Median HH income: $76,847
• Composite: 55.65/100
• National rank: #1227
• State rank: #176 of 590 in NY

Livability — Delanson

• Score: 67/100
• State rank: #601
• US rank: #10899

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delanson, NY
• Population (ZIP): 4,325

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 11% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 5% Italian 4% Lithuanian 3%
• Foreign-born: 2% · Canada

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.51%
• Current HPI: 310.3979
• 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

+100.8% since first listed

4 events — show timeline

• 2026-04-30 Pending — Global MLS
• 2026-04-21 Listed $239,000 Global MLS
• 2003-09-29 Sold (MLS) $122,000 Global MLS
• 2003-06-13 Listed $119,000 Global MLS