9778 County Route 97 · Rodman, NY 13605

$174,900

2 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 9 Days on market

Built 1882 1.41 ac lot

---

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).

• Appreciation +10.0/10.0
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.4/10.0

Listing remarks

Welcome to 9778 County Route 97 in Adams, NY—a beautifully renovated home that blends modern updates with country charm on a spacious 1.41-acre lot. This move-in-ready property has been extensively updated from top to bottom, featuring a new roof, new siding, new windows, a new well, and new stainless steel appliances, providing peace of mind for years to come. Inside, you’ll find a bright and inviting interior with stylish finishes throughout, updated bathrooms, and a functional floor plan designed for today’s lifestyle. The convenience of a second-floor laundry room makes everyday living easier, while the spacious living areas offer plenty of room to relax and entertain.

Key facts

• Renovated home
• New well
• New siding

Tags

• RENOVATED HOME
• SPACIOUS LOT
• NEW ROOF
• NEW SIDING
• NEW WINDOWS
• NEW WELL

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Well water; Septic tank
• Home design: Single-story existing home; Stone foundation
• Construction: Cedar and stone construction; Metal roof; Stone foundation; Existing (previously built)
• Exterior features: Gravel driveway; Leased propane tank; Irregular, rural lot (approximately 1.41 acres, 200 x 424)

Interior

• Kitchen: Appliances negotiable; Electric water heater
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Propane heating; Baseboard heating; Forced air heating
• Interior features: Country kitchen; Hardwood and varied flooring; One fireplace (living area)
• Laundry & utility: Upper-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (26.0% below list).
• Recommended offer: $129k (26.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#840 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: health & safety D, schools F, crime F.
• South Jefferson Central School District (rural): math 35% / reading 60% proficiency, ranked #420 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 196 units permitted in Jefferson 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)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $85k; list at $175k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1882 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,422 (26.0% 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 1882 — 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. 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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 2.75×
• Total profit: $85,662
• Equity at exit: $157,564

10-year hold

• IRR: 19.5%
• Equity multiple: 6.31×
• Total profit: $259,798
• Equity at exit: $339,792

Cash invested: $48,972 (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 13605

• Home prices YoY: 12.7%
• Active inventory: 33
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$183 /mo · $2,195/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-151

Break-even live

Break-even rent $1,485

Max offer price $148,299

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-101	+0% $-151	+5% $-200	+10% $-250
Rent	-10% $-253	-5% $-202	+0% $-151	+5% $-99	+10% $-48
Rate	-1.0pp $-63	-0.5pp $-106	base $-151	+0.5pp $-196	+1.0pp $-242

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-16
   status $174,900 Pending 9 DOM
2. 2026-06-15
   days on market $174,900 Active Under Contract 9 DOM
3. 2026-06-14
   days on market $174,900 Active Under Contract 7 DOM
4. 2026-06-12
   statusdays on market $174,900 Active Under Contract 6 DOM
5. 2026-06-09
   days on market $174,900 Active 3 DOM
6. 2026-06-08
   days on market $174,900 Active 2 DOM
7. 2026-06-07
   remarks 681-char remark
8. 2026-06-07
   listed $174,900 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: $2,195 · $183/mo
• Projected year-2 tax: $2,576 · $215/mo
• Expected delta: +$380/yr (+$32/mo · 17.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥88°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,531
• − Mortgage interest: −$9,797
• − Property taxes: −$2,195
• − Insurance: −$874
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$5,088
• Taxable loss: −$4,909
• Est. tax savings @ 24.0%: +$1,178
• After-tax cash flow: $-629/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: South Jefferson Central School District
• NCES district ID: 3602340
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $56,872
• Composite: 41.27/100
• National rank: #3522
• State rank: #420 of 590 in NY

Livability — Rodman

• Score: 62/100
• State rank: #840
• US rank: #16328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,106

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 5% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.95%
• Current HPI: 354.8216
• 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

+175.0% since first listed

3 events — show timeline

• 2026-06-06 Listed $174,900 UNYREIS
• 2010-11-30 Sold (Public Records) $85,000 Public Records
• 2003-04-01 Sold (Public Records) $63,600 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,195 · -1.2% YoY. Source: county tax records.