107 Factory St · Schoharie, NY 12157

$174,000

3 bd · 1.5 ba · 2,000 sqft · SingleFamily public records · 154 Days on market

Built 1830 0.78 ac lot $87/sqft · 25% below area Est $233k · 25% under ↓ 5% since listing

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Why this score? — see what drove the D+ 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 +7.5/30.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Listing remarks MLS

Farmhouse Colonial with Wrap around Porch, Barn & dual road frontage. This charming 2,000 sq ft farmhouse colonial offers space, flexibility, and opportunity on a large, level lot with road frontage on both Factory Street and School Street, located in Schoharie School District in the quaint area known as Gallupville. This home is just 45 minutes commute to the Capital District. Live in the country with farmhouse that has welcoming wraparound porch, and is ideal for buyers looking to restore and customize a classic home with multiple use possibilities. The home offers 5 bedrooms and 3 full bathrooms. A standout feature is the first floor primary bedroom with en-suite bath, complete with a kitchenette, separate entrance, and its own driveway, making it ideal for multi generational living, a home office, guest suite, or potential studio setup. Buyers must perform their own due diligence regarding two-family or accessory apartment use, including any required variances. The first floor includes two full bathrooms, a galley kitchen with pantry and eating area, dining room, utility room, and flexible living spaces. The living room features a wood stove and propane heater, providing supplemental heat and charm. Upstairs offers 4 bedrooms and a full bath, metal roof, 4 heating zones, Oil furnace with newer oil tank, Water heater 3 years old, two driveways, barn, wood shed, storage room, and additional outbuildings (in need of repair). Home requires some painting and updates, and the barn and outbuildings will need work, presenting a strong opportunity to build big equity to this versatile property. Sold as-is. Ideal for investors, renovators, or buyers seeking space, character, and flexible use potential.

Key facts

• Dual road frontage
• Separate entrance
• En-suite bath

Tags

• WRAPAROUND PORCH
• DUAL ROAD FRONTAGE
• FIRST FLOOR PRIMARY BEDROOM
• EN-SUITE BATH
• SEPARATE ENTRANCE
• OWN DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $-527 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (52.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (19.0% below list).
• Recommended offer: $82k (52.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 64/100 on livability (#761 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B; Watch: crime F, amenities F, commute F.
• Schoharie Central School District (rural): math 39% / reading 46% proficiency, ranked #476 of 590 in NY (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Schoharie Elementary School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 347 students, 52% FRL); Schoharie High School (math 42% / reading 47%, grade F, #1,032 of 1,100 statewide, top 95%, 465 students, 46% FRL).
• Market conditions: 26 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1830 — 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 $81,915 (52.9% 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 154 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
3. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.81% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.26%
• DSCR: 0.77
• GRM: 10.3

CMA / ARV

• ARV (median comp): $233,009
• List price: $174,000
• Delta: -25.32%
• 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: 15.3%
• Equity multiple: 2.26×
• Total profit: $61,472
• Equity at exit: $156,753

10-year hold

• IRR: 15.0%
• Equity multiple: 5.27×
• Total profit: $208,012
• Equity at exit: $338,044

Cash invested: $48,720 (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 12157

• Home prices YoY: 20.9%
• Active inventory: 26
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,409 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$341 /mo · $4,096/yr
• Insurance: −$72
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-527

Break-even live

Break-even rent $2,076

Max offer price $81,915

Occupancy floor —

Sensitivity live

Price	-10% $-429	-5% $-478	+0% $-527	+5% $-577	+10% $-626
Rent	-10% $-639	-5% $-583	+0% $-527	+5% $-472	+10% $-416
Rate	-1.0pp $-440	-0.5pp $-483	base $-527	+0.5pp $-572	+1.0pp $-618

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $174,000 Active 154 DOM
2. 2026-06-21
   days on market $174,000 Active 153 DOM
3. 2026-06-18
   days on market $174,000 Active 151 DOM
4. 2026-06-17
   days on market $174,000 Active 150 DOM
5. 2026-06-16
   days on market $174,000 Active 149 DOM
6. 2026-06-15
   days on market $174,000 Active 148 DOM
7. 2026-06-13
   days on market $174,000 Active 146 DOM
8. 2026-06-12
   days on market $174,000 Active 145 DOM
9. 2026-06-09
   days on market $174,000 Active 142 DOM
10. 2026-06-08
    pricedays on market $174,000 Active 141 DOM
11. 2026-06-07
    days on market $179,000 Active 140 DOM
12. 2026-06-07
    days on market $179,000 Active 139 DOM
13. 2026-06-04
    days on market $179,000 Active 136 DOM
14. 2026-06-02
    days on market $179,000 Active 135 DOM
15. 2026-06-01
    days on market $179,000 Active 134 DOM
16. 2026-05-31
    days on market $179,000 Active 133 DOM
17. 2026-03-05
    price $179,000 1731-char remark

    Show marketing remark (1773 chars)

    Investor alert! Great value that can easily be a two family home with separate entrance and driveway. Farmhouse Colonial with Wraparound Porch, Barn & dual road frontage located in quaint area of Gallupville. This charming 2,000 sq ft farmhouse colonial offers space, flexibility, and opportunity on a large, level lot with road frontage on both Factory Street and School Street, located in Schoharie School District. It has welcoming wraparound porch, and is ideal for buyers looking to restore and customize a classic home with multiple use possibilities. The home offers 5 bedrooms and 3 full bathrooms. A standout feature is the first floor primary bedroom with en-suite bath, complete with a kitchenette, separate entrance, and its own driveway, making it ideal for multi generational living, a home office, guest suite, or potential studio setup. Buyers must perform their own due diligence regarding two-family or accessory apartment use, including any required variances. The first floor includes two full bathrooms, a galley kitchen with pantry and eating area, dining room, utility room, and flexible living spaces. The living room features a wood stove and propane heater, providing supplemental heat and charm. Upstairs offers 4 bedrooms and a full bath, metal roof, 4 heating zones, Oil furnace with newer oil tank, Water heater 3 years old, two driveways, barn, wood shed, storage room, and additional outbuildings (in need of repair). Home requires some painting and updates, and the barn and outbuildings will need work, presenting a strong opportunity to build big equity to this versatile property. Sold as-is. Ideal for investors, renovators, or buyers seeking space, character, and flexible use potential. Just 45 minute commute to Capital District.

18. 2026-03-05
    price $179,000 1773-char remark

    Show marketing remark (1773 chars)

    Investor alert! Great value that can easily be a two family home with separate entrance and driveway. Farmhouse Colonial with Wraparound Porch, Barn & dual road frontage located in quaint area of Gallupville. This charming 2,000 sq ft farmhouse colonial offers space, flexibility, and opportunity on a large, level lot with road frontage on both Factory Street and School Street, located in Schoharie School District. It has welcoming wraparound porch, and is ideal for buyers looking to restore and customize a classic home with multiple use possibilities. The home offers 5 bedrooms and 3 full bathrooms. A standout feature is the first floor primary bedroom with en-suite bath, complete with a kitchenette, separate entrance, and its own driveway, making it ideal for multi generational living, a home office, guest suite, or potential studio setup. Buyers must perform their own due diligence regarding two-family or accessory apartment use, including any required variances. The first floor includes two full bathrooms, a galley kitchen with pantry and eating area, dining room, utility room, and flexible living spaces. The living room features a wood stove and propane heater, providing supplemental heat and charm. Upstairs offers 4 bedrooms and a full bath, metal roof, 4 heating zones, Oil furnace with newer oil tank, Water heater 3 years old, two driveways, barn, wood shed, storage room, and additional outbuildings (in need of repair). Home requires some painting and updates, and the barn and outbuildings will need work, presenting a strong opportunity to build big equity to this versatile property. Sold as-is. Ideal for investors, renovators, or buyers seeking space, character, and flexible use potential. Just 45 minute commute to Capital District.

19. 2026-01-18
    listed $189,000 Active 1731-char remark

    Show marketing remark (1773 chars)

    Investor alert! Great value that can easily be a two family home with separate entrance and driveway. Farmhouse Colonial with Wraparound Porch, Barn & dual road frontage located in quaint area of Gallupville. This charming 2,000 sq ft farmhouse colonial offers space, flexibility, and opportunity on a large, level lot with road frontage on both Factory Street and School Street, located in Schoharie School District. It has welcoming wraparound porch, and is ideal for buyers looking to restore and customize a classic home with multiple use possibilities. The home offers 5 bedrooms and 3 full bathrooms. A standout feature is the first floor primary bedroom with en-suite bath, complete with a kitchenette, separate entrance, and its own driveway, making it ideal for multi generational living, a home office, guest suite, or potential studio setup. Buyers must perform their own due diligence regarding two-family or accessory apartment use, including any required variances. The first floor includes two full bathrooms, a galley kitchen with pantry and eating area, dining room, utility room, and flexible living spaces. The living room features a wood stove and propane heater, providing supplemental heat and charm. Upstairs offers 4 bedrooms and a full bath, metal roof, 4 heating zones, Oil furnace with newer oil tank, Water heater 3 years old, two driveways, barn, wood shed, storage room, and additional outbuildings (in need of repair). Home requires some painting and updates, and the barn and outbuildings will need work, presenting a strong opportunity to build big equity to this versatile property. Sold as-is. Ideal for investors, renovators, or buyers seeking space, character, and flexible use potential. Just 45 minute commute to Capital District.

20. 2026-01-18
    listed $189,000 Active 1773-char remark

    Show marketing remark (1773 chars)

    Investor alert! Great value that can easily be a two family home with separate entrance and driveway. Farmhouse Colonial with Wraparound Porch, Barn & dual road frontage located in quaint area of Gallupville. This charming 2,000 sq ft farmhouse colonial offers space, flexibility, and opportunity on a large, level lot with road frontage on both Factory Street and School Street, located in Schoharie School District. It has welcoming wraparound porch, and is ideal for buyers looking to restore and customize a classic home with multiple use possibilities. The home offers 5 bedrooms and 3 full bathrooms. A standout feature is the first floor primary bedroom with en-suite bath, complete with a kitchenette, separate entrance, and its own driveway, making it ideal for multi generational living, a home office, guest suite, or potential studio setup. Buyers must perform their own due diligence regarding two-family or accessory apartment use, including any required variances. The first floor includes two full bathrooms, a galley kitchen with pantry and eating area, dining room, utility room, and flexible living spaces. The living room features a wood stove and propane heater, providing supplemental heat and charm. Upstairs offers 4 bedrooms and a full bath, metal roof, 4 heating zones, Oil furnace with newer oil tank, Water heater 3 years old, two driveways, barn, wood shed, storage room, and additional outbuildings (in need of repair). Home requires some painting and updates, and the barn and outbuildings will need work, presenting a strong opportunity to build big equity to this versatile property. Sold as-is. Ideal for investors, renovators, or buyers seeking space, character, and flexible use potential. Just 45 minute commute to Capital District.

ⓘ 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: $4,096 · $341/mo
• Projected year-2 tax: $4,096 · $341/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 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $16,903
• − Mortgage interest: −$9,747
• − Property taxes: −$4,096
• − Insurance: −$4,635
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$5,062
• Taxable loss: −$9,341
• Est. tax savings @ 24.0%: +$2,242
• After-tax cash flow: $-4,086/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: Schoharie Central School District
• NCES district ID: 3626100
• Math proficiency: 39% ▼ -6.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $56,868
• Composite: 37.2/100
• National rank: #4472
• State rank: #476 of 590 in NY

Livability — Schoharie

• Score: 64/100
• State rank: #761
• US rank: #14594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,444

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · China, South Korea
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 56.89%
• Current HPI: 328.5011
• 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

-5.3% since first listed

4 events — show timeline

• 2026-03-05 Price Changed $179,000 UNYREIS
• 2026-03-05 Price Changed $179,000 Global MLS
• 2026-01-18 Listed $189,000 Global MLS
• 2026-01-18 Listed $189,000 UNYREIS

Property tax history

+2.8%/yr

Latest (2025): $4,096 · -0.1% YoY. Source: county tax records.