6607 State Highway 7 · Portlandville, NY 12116

$159,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 50 Days on market

Built 1960 0.56 ac lot $191/sqft · 20% below area Est $200k · 20% under

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Why this score? — see what drove the C 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 +16.2/30.0
• ARV discount +15.0/15.0
• Appreciation +7.6/10.0
• DSCR +5.0/10.0
• 1% rule +4.3/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

Key facts

• New propane furnace
• Large picture window
• Renovated ranch

Tags

• MOUNTAIN VIEWS
• RENOVATED RANCH
• EAT-IN KITCHEN
• NEW PROPANE FURNACE
• 1000-GALLON CEMENT SEPTIC TANK
• LARGE PICTURE WINDOW

Property features AI

Exterior

• Parking: No garage
• Utilities: Well water; Septic tank; High-speed internet available
• Home design: Single-story; Existing construction
• Construction: Frame construction with vinyl siding; Asphalt roof; Block foundation; Full basement
• Exterior features: Blacktop driveway; Gravel driveway; Deck; Patio; Propane tank (leased)

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Propane forced-air heating
• Interior features: Eat-in kitchen; Separate/formal living room; Sliding glass door(s)
• Laundry & utility: Laundry located in the basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (6.7% below list).
• Recommended offer: $148k (6.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Schenevus Central School District (rural): math 35% / reading 45% proficiency, ranked #638 of 755 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.2% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, 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 50 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $137k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,407 (6.7% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (median comp): $199,613
• List price: $159,000
• Delta: -20.35%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

5.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.98×
• Total profit: $43,611
• Equity at exit: $91,815

10-year hold

• IRR: 15.7%
• Equity multiple: 3.84×
• Total profit: $126,544
• Equity at exit: $159,893

Cash invested: $44,520 (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 12116

• Home prices YoY: 1.3%
• Active inventory: 9
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$189 /mo · $2,262/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $84

Break-even live

Break-even rent $1,378

Max offer price $159,000

Occupancy floor 89%

Sensitivity live

Price	-10% $174	-5% $129	+0% $84	+5% $39	+10% $-6
Rent	-10% $-33	-5% $25	+0% $84	+5% $142	+10% $201
Rate	-1.0pp $164	-0.5pp $124	base $84	+0.5pp $43	+1.0pp $1

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $159,000 Active 50 DOM
2. 2026-06-18
   days on market $159,000 Active 49 DOM
3. 2026-06-17
   days on market $159,000 Active 48 DOM
4. 2026-06-16
   days on market $159,000 Active 47 DOM
5. 2026-06-15
   days on market $159,000 Active 46 DOM
6. 2026-06-14
   days on market $159,000 Active 44 DOM
7. 2026-06-12
   days on market $159,000 Active 43 DOM
8. 2026-06-09
   days on market $159,000 Active 40 DOM
9. 2026-06-08
   days on market $159,000 Active 39 DOM
10. 2026-06-07
    days on market $159,000 Active 38 DOM
11. 2026-06-07
    days on market $159,000 Active 37 DOM
12. 2026-06-02
    days on market $159,000 Active 33 DOM
13. 2026-06-01
    days on market $159,000 Active 32 DOM
14. 2026-05-31
    days on market $159,000 Active 31 DOM
15. 2026-05-31
    days on market $159,000 Active 30 DOM
16. 2026-04-30
    listed $159,000 Active 1282-char remark
17. 2021-10-15
    soldstatus $136,740 696-char remark

    Show marketing remark (696 chars)

    Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

18. 2021-10-15
    soldstatus $136,740

    Show marketing remark (696 chars)

    Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

19. 2021-10-15
    soldstatus $136,740

    Show marketing remark (696 chars)

    Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

20. 2021-06-18
    listed $134,500 696-char remark

    Show marketing remark (696 chars)

    Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

21. 2021-06-18
    listed $134,500

    Show marketing remark (696 chars)

    Great gifts come in small packages! Located only 5 miles from Oneonta's east end. This low maintenance ranch home has been completely restored . Upgrades include vinyl siding, new windows, a brand new kitchen (with all new appliances) New hot water heater and an updated electric . The homes is in completely move-in condition with a freshly painted interior and gleaming hard wood floors. The home features 2 bedrooms and a modern bath. The basement is in excellent condition and could be easily finished for additional living space. . A nice mostly level lot allows great opportunities for outside enjoyment. . Conveniently located, one floor living and easy to maintain. What more do you need?

ⓘ 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: $2,262 · $189/mo
• Projected year-2 tax: $2,475 · $206/mo
• Expected delta: +$212/yr (+$18/mo · 9.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,809
• − Mortgage interest: −$8,906
• − Property taxes: −$2,262
• − Insurance: −$795
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$4,625
• Taxable loss: −$1,630
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $1,397/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: Schenevus Central School District
• NCES district ID: 3603060
• Math proficiency: 35% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $48,113
• Composite: 36.72/100
• National rank: #9205
• State rank: #638 of 755 in NY

Livability — Portlandville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,533

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Italian 9% Slovak 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.18%
• Current HPI: 408.7773
• 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

+18.2% since first listed

6 events — show timeline

• 2026-04-30 Listed $159,000 UNYREIS
• 2021-10-15 Sold (Public Records) $136,740 Public Records
• 2021-10-15 Sold (MLS) $136,740 ODBOR
• 2021-10-15 Sold (MLS) $136,740 UNYREIS
• 2021-06-18 Listed $134,500 ODBOR
• 2021-06-18 Listed $134,500 UNYREIS

Property tax history

+6.4%/yr

Latest (2025): $2,262 · +3.9% YoY. Source: county tax records.