2642 State Route 145 · Middleburgh, NY 12122

$269,000

4 bd · 2.0 ba · 1,890 sqft · SingleFamily public records · 98 Days on market

Built 1950 0.89 ac lot $142/sqft · 27% below area Est $390k · 31% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.2/30.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Fabulous Ranch on Nearly an Acre with Gorgeous Views!Welcome home to this spacious and well-loved ranch set on . 89 acres with beautiful scenic views and plenty of room to spread out both inside and out. The property features a detached 2-car garage, additional storage shed, and a generous yard perfect for entertaining, gardening, or simply enjoying country living. Step into the oversized 3-season sunroom located at the rear of the home, where natural light pours in and the views create the perfect setting for morning coffee, relaxing evenings, or hosting guests. Just inside, you'll find an additional bright sitting area that continues to capture the lovely landscape. A short set of steps leads you into the comfortable family room, large laundry area, and spacious eat-in kitchen offering plenty of room for gathering and everyday living. The home also features a formal living room at the main entrance, providing an additional welcoming space for entertaining. Down the hallway, you'll find three generously sized bedrooms and a full bathroom. With its flexible layout and abundant square footage, this home offers excellent potential to easily create a fourth bedroom and second bathroom if desired. Lovingly maintained by the same owners since 1977, this home is ready for its next chapter. Enjoy mostly single-level living with thoughtful additions that bring the beauty of the outdoors inside. Conveniently located just 4 minutes to the Village, 10 minutes to Cobleskill, and right next door to the renowned Middleburgh Winery. Enjoy easy access to local farm markets, hiking and biking trails, and the Schoharie Creek just minutes away. This property offers the perfect blend of comfort, space, and location a wonderful place to call home.

Key facts

• Generous yard
• Bright sitting area
• 0.89 acre lot

Tags

• DETACHED 2 CAR GARAGE
• ADDITIONAL STORAGE SHED
• GENEROUS YARD
• OVERSIZED 3 SEASON SUNROOM
• BRIGHT SITTING AREA
• COMFORTABLE FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-614 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (40.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (39.1% below list).
• Recommended offer: $161k (40.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#518 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: employment D+, amenities F, commute F.
• Middleburgh Central School District (rural): math 44% / reading 54% proficiency, ranked #409 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Middleburgh Elementary School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 344 students, 54% FRL); Middleburgh Junior/Senior High School (math 57% / reading 67%, grade B-, #827 of 1,100 statewide, top 76%, 296 students, 52% FRL) — zoned schools average 53% FRL vs 36% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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 98 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,620 (40.3% 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 98 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.61% ✗
• Cap rate: 3.56%
• Cash-on-cash: -9.77%
• DSCR: 0.57
• GRM: 13.7

CMA / ARV

• ARV (median comp): $390,073
• List price: $269,000
• Delta: -31.04%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $107,484
• Equity at exit: $242,337

10-year hold

• IRR: 16.4%
• Equity multiple: 5.61×
• Total profit: $347,358
• Equity at exit: $522,608

Cash invested: $75,320 (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 12122

• Active inventory: 52
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$384 /mo · $4,610/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-614

Break-even live

Break-even rent $2,414

Max offer price $160,620

Occupancy floor —

Sensitivity live

Price	-10% $-461	-5% $-537	+0% $-614	+5% $-690	+10% $-766
Rent	-10% $-743	-5% $-678	+0% $-614	+5% $-549	+10% $-484
Rate	-1.0pp $-478	-0.5pp $-545	base $-614	+0.5pp $-683	+1.0pp $-754

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-02-11
   listed $269,000 Active 1756-char remark

   Show marketing remark (1754 chars)

   Fabulous Ranch on Nearly an Acre with Gorgeous Views!Welcome home to this spacious and well-loved ranch set on .89 acres with beautiful scenic views and plenty of room to spread out both inside and out. The property features a detached 2-car garage, additional storage shed, and a generous yard perfect for entertaining, gardening, or simply enjoying country living. Step into the oversized 3-season sunroom located at the rear of the home, where natural light pours in and the views create the perfect setting for morning coffee, relaxing evenings, or hosting guests. Just inside, you'll find an additional bright sitting area that continues to capture the lovely landscape.A short set of steps leads you into the comfortable family room, large laundry area, and spacious eat-in kitchen offering plenty of room for gathering and everyday living. The home also features a formal living room at the main entrance, providing an additional welcoming space for entertaining. Down the hallway, you'll find three generously sized bedrooms and a full bathroom. With its flexible layout and abundant square footage, this home offers excellent potential to easily create a fourth bedroom and second bathroom if desired. Lovingly maintained by the same owners since 1977, this home is ready for its next chapter. Enjoy mostly single-level living with thoughtful additions that bring the beauty of the outdoors inside. Conveniently located just 4 minutes to the Village, 10 minutes to Cobleskill, and right next door to the renowned Middleburgh Winery. Enjoy easy access to local farm markets, hiking and biking trails, and the Schoharie Creek just minutes away. This property offers the perfect blend of comfort, space, and location a wonderful place to call home.

2. 2026-02-11
   listed $269,000 Active 1754-char remark

   Show marketing remark (1754 chars)

   Fabulous Ranch on Nearly an Acre with Gorgeous Views!Welcome home to this spacious and well-loved ranch set on .89 acres with beautiful scenic views and plenty of room to spread out both inside and out. The property features a detached 2-car garage, additional storage shed, and a generous yard perfect for entertaining, gardening, or simply enjoying country living. Step into the oversized 3-season sunroom located at the rear of the home, where natural light pours in and the views create the perfect setting for morning coffee, relaxing evenings, or hosting guests. Just inside, you'll find an additional bright sitting area that continues to capture the lovely landscape.A short set of steps leads you into the comfortable family room, large laundry area, and spacious eat-in kitchen offering plenty of room for gathering and everyday living. The home also features a formal living room at the main entrance, providing an additional welcoming space for entertaining. Down the hallway, you'll find three generously sized bedrooms and a full bathroom. With its flexible layout and abundant square footage, this home offers excellent potential to easily create a fourth bedroom and second bathroom if desired. Lovingly maintained by the same owners since 1977, this home is ready for its next chapter. Enjoy mostly single-level living with thoughtful additions that bring the beauty of the outdoors inside. Conveniently located just 4 minutes to the Village, 10 minutes to Cobleskill, and right next door to the renowned Middleburgh Winery. Enjoy easy access to local farm markets, hiking and biking trails, and the Schoharie Creek just minutes away. This property offers the perfect blend of comfort, space, and location a wonderful place to call home.

3. 2026-02-11
   listed $269,000 Active

   Show marketing remark (1754 chars)

   Fabulous Ranch on Nearly an Acre with Gorgeous Views!Welcome home to this spacious and well-loved ranch set on .89 acres with beautiful scenic views and plenty of room to spread out both inside and out. The property features a detached 2-car garage, additional storage shed, and a generous yard perfect for entertaining, gardening, or simply enjoying country living. Step into the oversized 3-season sunroom located at the rear of the home, where natural light pours in and the views create the perfect setting for morning coffee, relaxing evenings, or hosting guests. Just inside, you'll find an additional bright sitting area that continues to capture the lovely landscape.A short set of steps leads you into the comfortable family room, large laundry area, and spacious eat-in kitchen offering plenty of room for gathering and everyday living. The home also features a formal living room at the main entrance, providing an additional welcoming space for entertaining. Down the hallway, you'll find three generously sized bedrooms and a full bathroom. With its flexible layout and abundant square footage, this home offers excellent potential to easily create a fourth bedroom and second bathroom if desired. Lovingly maintained by the same owners since 1977, this home is ready for its next chapter. Enjoy mostly single-level living with thoughtful additions that bring the beauty of the outdoors inside. Conveniently located just 4 minutes to the Village, 10 minutes to Cobleskill, and right next door to the renowned Middleburgh Winery. Enjoy easy access to local farm markets, hiking and biking trails, and the Schoharie Creek just minutes away. This property offers the perfect blend of comfort, space, and location a wonderful place to call home.

ⓘ 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: $4,610 · $384/mo
• Projected year-2 tax: $4,610 · $384/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $19,647
• − Mortgage interest: −$15,068
• − Property taxes: −$4,610
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$7,825
• Taxable loss: −$12,345
• Est. tax savings @ 24.0%: +$2,963
• After-tax cash flow: $-4,399/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: Middleburgh Central School District
• NCES district ID: 3619260
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $47,677
• Composite: 41.7/100
• National rank: #3412
• State rank: #409 of 590 in NY

Livability — Middleburgh

• Score: 68/100
• State rank: #518
• US rank: #9180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 842
• Population (ZIP): 3,555

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 86.69%
• Current HPI: 322.5162
• 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

+0.0% since first listed

3 events — show timeline

• 2026-02-11 Listed $269,000 HVCRMLS
• 2026-02-11 Listed $269,000 UNYREIS
• 2026-02-11 Listed $269,000 Global MLS

Property tax history

+4.6%/yr

Latest (2025): $4,610 · +2.3% YoY. Source: county tax records.