64 Grove St · Cairo, NY 12413

$265,000

6 bd · 3.0 ba · 2,710 sqft · MultiFamily public records · 119 Days on market

Built 1900 0.83 ac lot Est $463k · 43% under ↓ 4% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Whether you're looking for a smart investment or a home that pays for itself, this versatile 3-unit property on nearly an full acre (. 83) offers rare flexibility. Enjoy the peace of mind of having one unit already generating $1,000/month, while two vacant units await your personal touch or new tenants. The home offers a 3-car detached garage, additional attic storage [3 bays] and a bonus backyard garage--perfect for hobbyists, or those seeking extra rental income. Public Water Septic Tank Roof less than 2 years old Oil Heating

Key facts

• 1 car garage
• 0.83 acre lot
• 4 garage spots

Tags

• 3 CAR DETACHED GARAGE
• 3 ATTIC STORAGE UNITS
• 1 CAR GARAGE

Property features AI

Finance

• Financial info: Three-unit multifamily property

Exterior

• Parking: Detached garage; Off-street parking for a total of about 6 vehicles; 4 garage spaces
• Utilities: Public water; Septic tank sewer
• Home design: Triplex; Vinyl siding and other construction materials
• Construction: Vinyl siding exterior; Built with other construction materials
• Exterior features: Lot size about 0.83 acres

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Unit 3: 3 bedrooms
• Bathrooms: Three full bathrooms (two on the first floor, one on the second floor); Each unit includes one full bath
• Heating & cooling: Oil-fired baseboard heating; Window air conditioning units
• Interior features: Unfinished basement with both interior and exterior entry; Other basement features

🏷️ Possibly a rental listed for sale. The $265,000 price doesn't fit this home's estimated sale value (~$463,410) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $543/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 2.9% in Cairo — 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 64/100 on livability (#755 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D-, amenities F, commute F.
• Cairo-Durham Central School District (rural): math 41% / reading 48% proficiency, ranked #470 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.63% ✓
• Cap rate: 13.66%
• Cash-on-cash: 26.33%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $463,410
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
353 Main St	0.45mi	6/—	2,900 (+7%)	18mo	$495,000	$171	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 44.2%
• Equity multiple: 4.34×
• Total profit: $248,031
• Equity at exit: $238,733

10-year hold

• IRR: 38.2%
• Equity multiple: 9.75×
• Total profit: $648,945
• Equity at exit: $514,837

Cash invested: $74,200 (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 12413

• Active inventory: 62
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,309 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$276 /mo · $3,315/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $1,628

Break-even live

Break-even rent $2,249

Max offer price $265,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,778	-5% $1,703	+0% $1,628	+5% $1,553	+10% $1,478
Rent	-10% $1,287	-5% $1,458	+0% $1,628	+5% $1,798	+10% $1,968
Rate	-1.0pp $1,761	-0.5pp $1,695	base $1,628	+0.5pp $1,559	+1.0pp $1,489

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,308
Total (3 units)			$4,309

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-05
   statusdays on market $265,000 Pending 119 DOM
2. 2026-06-03
   days on market $265,000 Contingent 124 DOM
3. 2026-06-02
   days on market $265,000 Contingent 123 DOM
4. 2026-06-01
   days on market $265,000 Contingent 122 DOM
5. 2026-05-31
   days on market $265,000 Contingent 121 DOM
6. 2026-05-31
   days on market $265,000 Contingent 120 DOM
7. 2026-04-14
   historical Contingent
8. 2026-04-06
   price $265,000
9. 2026-01-29
   listed $275,000 Active

ⓘ 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: $3,315 · $276/mo
• Projected year-2 tax: $3,897 · $325/mo
• Expected delta: +$582/yr (+$48/mo · 17.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $51,708
• − Mortgage interest: −$14,844
• − Property taxes: −$3,315
• − Insurance: −$1,325
• − Repairs & maintenance: −$4,137
• − Management: −$4,137
• − Depreciation: −$7,709
• Taxable income: $16,242
• Est. tax owed @ 24.0%: −$3,898
• After-tax cash flow: $15,635/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: Cairo-Durham Central School District
• NCES district ID: 3606160
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 48% ▲ 8.00%
• Median HH income: $46,192
• Composite: 37.84/100
• National rank: #4330
• State rank: #470 of 590 in NY

Livability — Cairo

• Score: 64/100
• State rank: #755
• US rank: #14433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cairo, NY
• City population: 3,406
• Population (ZIP): 3,406

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 4% Romanian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 2%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 140.58%
• Current HPI: 406.4299
• 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

-3.6% since first listed

3 events — show timeline

• 2026-04-14 Contingent — Global MLS
• 2026-04-06 Price Changed $265,000 Global MLS
• 2026-01-29 Listed $275,000 Global MLS

Property tax history

+2.9%/yr

Latest (2025): $3,315 · +4.1% YoY. Source: county tax records.