806 Main St · Margaretville, NY 12455

$395,000

4 bd · 4.0 ba · 3,958 sqft · SingleFamily · 33 Days on market

Built 1920 Fair condition 1,307 sqft lot

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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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Positioned in the heart of historic Margaretville Village, 810 Main Street presents a rare mixed-use investment opportunity in one of the Catskills’ most active four-season destinations. This three-story property features four residential apartments and two commercial storefronts currently configured as one large retail space, creating flexible income potential with multiple revenue streams. Located just minutes from Belleayre Mountain Ski Center and surrounded by the region’s growing tourism economy, the property benefits from steady year-round traffic driven by skiing, hiking, dining, shopping, and weekend tourism. Its prime Main Street location offers exceptional walkability

Key facts

• Mixed-use building
• Prime location
• Custom woodwork

Tags

• MIXED-USE BUILDING
• SPACIOUS RETAIL STOREFRONT
• 4 1-BEDROOM APARTMENTS
• STRONG RENTAL POTENTIAL
• PRIME LOCATION
• CUSTOM WOODWORK

Property features AI

Finance

• Other: Four total units; Seven separate electric meters; Units currently leased with rents reported (examples: $500, $515 for individual units)
• Financial info: Owner pays water and snow removal (rent includes water and snow removal); Operating expenses include water/sewer (see remarks)

Exterior

• Parking: No driveway (see remarks)
• Utilities: Public water connected; Sewer connected; Electric service with fuses
• Home design: 3-story multi-unit residential building; Residential multi-use zoning; Existing property (resale)
• Construction: Vinyl siding; Membrane/rubber roof; Poured foundation; Built (existing structure)
• Exterior features: Flood zone; Rectangular lot (36 x 41); Canal access to East Branch Delaware River; Waterfront property

Interior

• Kitchen: Oven/Range; Refrigerator; Dining area with kitchen in each unit
• Bedrooms: Four 1-bedroom units (unit-level info: each unit includes a living room and dining area with kitchen)
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Electric heating
• Interior features: Skylights; Natural woodwork; Skylight windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $395k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-73 ($-873/yr) — negative.
• To cash-flow at today's rent, offer at most $384k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $336k (14.9% below list).
• Recommended offer: $336k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Margaretville — 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 65/100 on livability (#711 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A, cost of living A-; Watch: employment D, schools F, crime F.
• Margaretville Central School District (rural): math 30% / reading 25% proficiency, ranked #734 of 755 in NY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 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 $20k of equity ($3k loan paydown + $17k appreciation (4.4% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $111k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $336,326 (14.9% 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 33 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.65×
• Total profit: $72,240
• Equity at exit: $208,717

10-year hold

• IRR: 12.2%
• Equity multiple: 3.08×
• Total profit: $229,800
• Equity at exit: $348,292

Cash invested: $110,600 (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 12455

• Home prices YoY: 1.2%
• Active inventory: 46
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,363 medium
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $-73

Break-even live

Break-even rent $3,455

Max offer price $384,468

Occupancy floor 97%

Sensitivity live

Price	-10% $200	-5% $64	+0% $-73	+5% $-209	+10% $-346
Rent	-10% $-338	-5% $-206	+0% $-73	+5% $60	+10% $193
Rate	-1.0pp $126	-0.5pp $28	base $-73	+0.5pp $-175	+1.0pp $-279

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $395,000 Active 33 DOM
2. 2026-06-21
   days on market $395,000 Active 32 DOM
3. 2026-06-18
   days on market $395,000 Active 30 DOM
4. 2026-06-17
   days on market $395,000 Active 29 DOM
5. 2026-06-16
   days on market $395,000 Active 28 DOM
6. 2026-06-15
   days on market $395,000 Active 27 DOM
7. 2026-06-13
   days on market $395,000 Active 25 DOM
8. 2026-06-12
   days on market $395,000 Active 24 DOM
9. 2026-06-09
   days on market $395,000 Active 21 DOM
10. 2026-06-08
    days on market $395,000 Active 20 DOM
11. 2026-06-07
    days on market $395,000 Active 19 DOM
12. 2026-06-04
    days on market $395,000 Active 15 DOM
13. 2026-06-02
    days on market $395,000 Active 14 DOM
14. 2026-06-01
    days on market $395,000 Active 13 DOM
15. 2026-05-31
    days on market $395,000 Active 12 DOM
16. 2026-05-19
    listed $395,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,359
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,229
• − Management: −$3,229
• − Depreciation: −$11,491
• Taxable loss: −$7,615
• Est. tax savings @ 24.0%: +$1,828
• After-tax cash flow: $954/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 · 0 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance to improve its condition and value. Painting, updating the kitchen, and landscaping would significantly enhance its appeal and marketability.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance suggests minor wear and tear.
• Minor Bathroom fixtures — Worn appearance suggests minor wear and tear.
• Minor Exterior siding — Some discoloration and wear visible.
• Minor Landscaping — Overgrown and untended appearance.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint can improve curb appeal and interior aesthetics, enhancing both resale and rental value.
• Both Replace worn kitchen cabinets — New cabinets can significantly improve the kitchen's appearance and functionality, boosting both resale and rental value.
• Both Landscaping and exterior maintenance — A well-maintained exterior can enhance curb appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance suggests minor wear and tear.	Minor	$500–3,000
Bathroom fixtures · Worn appearance suggests minor wear and tear.	Minor	$500–3,000
Exterior siding · Some discoloration and wear visible.	Minor	$500–3,000
Landscaping · Overgrown and untended appearance.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint can improve curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both Replace worn kitchen cabinets — New cabinets can significantly improve the kitchen's appearance and functionality, boosting both resale and rental value. ↑
• Both Landscaping and exterior maintenance — A well-maintained exterior can enhance curb appeal and attract potential buyers or renters. ↑

ⓘ 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: Margaretville Central School District
• NCES district ID: 3618510
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $42,369
• Composite: 26.35/100
• National rank: #12675
• State rank: #734 of 755 in NY

Livability — Margaretville

• Score: 65/100
• State rank: #711
• US rank: #13534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margaretville, NY
• Population (ZIP): 1,859

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 5% Iranian 3% Slovak 3%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 77% English-only · Spanish 12% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▲ 4.36%
• Current HPI: 355.7672
• 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

1 event — show timeline

• 2026-05-19 Listed $395,000 UNYREIS