2961 State Route 26 · Vernon, NY 13425

$129,900

3 bd · 1.0 ba · 1,628 sqft · SingleFamily public records · 2 Days on market

Built 1900 2.00 ac 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 +9.4/30.0
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this classic Old Style farmhouse set on approximately 2.00 scenic acres in the Town of Augusta. Offering 4 bedrooms, 1 full bath, and 1,628 sq ft of living space, this 1900-built home is full of potential for investors, flippers, or buyers looking to create their own country retreat. The spacious lot provides plenty of room for expansion, outbuildings, gardening, or recreational use while enjoying the privacy and charm of rural living. Conveniently located along State Route 26 with easy access to nearby amenities, this property is ideal as a renovation project, rental investment, or affordable owner-occupant opportunity. Bring your vision and unlock the possibil

Key facts

• Scenic acres
• Outbuildings
• Gardening

Tags

• CLASSIC OLD STYLE FARMHOUSE
• SCENIC ACRES
• SPACIOUS LOT
• ROOM FOR EXPANSION
• OUTBUILDINGS
• GARDENING

Property features AI

Finance

• HOA & community: Association pool

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Well water; Septic tank
• Home design: Two-story home; Existing condition
• Construction: Wood siding exterior; Asphalt shingle roof; Stone foundation
• Exterior features: Concrete driveway; Wooded, irregular lot (approx. 2 acres, 250 x 350)

Interior

• Kitchen: Refrigerator; Range hood
• Bedrooms: First-floor bedroom; Second-floor primary bedroom; Second-floor bedroom; Second-floor bedroom
• Flooring: Carpet; Hardwood; Tile; Varied flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Oil heating; Baseboard heating
• Interior features: Kitchen/family room combo; Bedroom on main level; Full walk-out basement
• Laundry & utility: Washer; Dryer; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (2.3% below list).
• Recommended offer: $114k (12.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#685 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: health & safety C-, schools D+, amenities F.
• Madison Central School District (rural): math 35% / reading 31% proficiency, ranked #703 of 755 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($898 loan paydown + $10k appreciation (7.7% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $62k; list at $130k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,553 (12.6% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 0.98% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.25×
• Total profit: $45,443
• Equity at exit: $96,225

10-year hold

• IRR: 16.4%
• Equity multiple: 4.75×
• Total profit: $136,466
• Equity at exit: $188,703

Cash invested: $36,372 (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 13425

• Home prices YoY: 2.1%
• Active inventory: 8
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,269 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$360 /mo · $4,318/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-93

Break-even live

Break-even rent $1,386

Max offer price $113,553

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-56	+0% $-93	+5% $-129	+10% $-166
Rent	-10% $-193	-5% $-143	+0% $-93	+5% $-42	+10% $8
Rate	-1.0pp $-27	-0.5pp $-59	base $-93	+0.5pp $-126	+1.0pp $-160

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $129,900 Active 2 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $129,900 Active 1 DOM

ⓘ 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: $4,318 · $360/mo
• Projected year-2 tax: $4,318 · $360/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $15,230
• − Mortgage interest: −$7,276
• − Property taxes: −$4,318
• − Insurance: −$650
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$3,779
• Taxable loss: −$3,230
• Est. tax savings @ 24.0%: +$775
• After-tax cash flow: $-335/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: Madison Central School District
• NCES district ID: 3618080
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $47,441
• Composite: 31.16/100
• National rank: #11276
• State rank: #703 of 755 in NY

Livability — Vernon

• Score: 65/100
• State rank: #685
• US rank: #12950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,743

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Lithuanian 5% Portuguese 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Other Indo-European 2% Spanish 2%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.72%
• Current HPI: 366.2278
• 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

+109.5% since first listed

2 events — show timeline

• 2026-06-18 Listed $129,900 WNYREIS
• 2003-08-13 Sold (Public Records) $62,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,318 · +2.0% YoY. Source: county tax records.