11184 State Route 32 · Greenville, NY 12083

$249,000

3 bd · 1.5 ba · 1,296 sqft · SingleFamily · 64 Days on market

Built 1980 Fair condition 0.46 ac lot $192/sqft · 14% below area Est $289k · 14% under

---

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 +14.5/30.0
• ARV discount +13.8/15.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Welcome to the vibrant heart of Greenville, NY. This charming and versatile three-bedroom, two-bathroom Commercial/residence space is located along State Route 32. It offers great accessibility, remarkable visibility, and endless possibilities for both entrepreneurs and those seeking a sense of home while maybe running a business. With the major intersection of State Routes 32 and 81 right there in the epicenter of Greenville, this property boasts a location that simply cannot be replicated. The address places you right on a well-traveled state route, ensuring high traffic visibility and easy access for clients, customers, or guests. This home has been a proven money maker as a rental outfitted with an efficient Rinnai heating system and is tapped into the Municipal sewer system. Greenville is renowned for its welcoming community, scenic surroundings, and dynamic local businesses. Step outside your front door and discover walkable access to shops, restaurants, parks, and everything the town has to offer. Whether you're searching for a place to launch your next venture or just looking to fulfill the dream homeownership, this property places you at the crossroads of opportunity. A short drive to Albany, Windham, Catskill and just off exit 21 of the NYS Thruway 2.5 hours north of NYC.

Key facts

• Walkable access
• 0.46 acre lot
• Garage

Tags

• MUNICIPAL SEWER SYSTEM
• WALKABLE ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $249k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $57 ($681/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 $225k (9.6% below list).
• Recommended offer: $225k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.1% in Greenville — 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 65/100 on livability (#713 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools B+; Watch: amenities F, commute F, cost of living F.
• Greenville Central School District (rural): math 48% / reading 55% proficiency, ranked #338 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $225,000 (9.6% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $289,214
• List price: $249,000
• Delta: -13.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11293 State Route 32	0.36mi	3/2.0	1,370 (+6%)	5mo	$445,000	$325	68
91 Drake Hill Rd	0.17mi	2/1.0 (-1)	1,200 (-7%)	7mo	$250,000	$208	67
5052 State Route 81	0.48mi	4/1.5 (+1)	1,440 (+11%)	1mo	$288,000	$200	53
96 Skyview Dr	0.64mi	2/2.0 (-1)	1,275 (-2%)	17mo	$240,000	$188	46
120 Skyview Dr	0.64mi	2/1.0 (-1)	1,276 (-2%)	22mo	$290,000	$227	42

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: 25.0%
• Equity multiple: 3.00×
• Total profit: $139,258
• Equity at exit: $224,319

10-year hold

• IRR: 22.1%
• Equity multiple: 6.84×
• Total profit: $407,319
• Equity at exit: $483,752

Cash invested: $69,720 (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 12083

• Home prices YoY: 16.0%
• Active inventory: 32
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $57

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 92%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11321 State Route 32 Greenville, NY	3.0	2.0	1500	$2,250	$1.50	14d	1	0.42mi

Listing history 23 events

1. 2026-06-18
   days on market $249,000 Active 64 DOM
2. 2026-06-17
   days on market $249,000 Active 63 DOM
3. 2026-06-16
   days on market $249,000 Active 62 DOM
4. 2026-06-15
   days on market $249,000 Active 61 DOM
5. 2026-06-13
   days on market $249,000 Active 59 DOM
6. 2026-06-12
   days on market $249,000 Active 58 DOM
7. 2026-06-09
   days on market $249,000 Active 55 DOM
8. 2026-06-08
   days on market $249,000 Active 54 DOM
9. 2026-06-07
   days on market $249,000 Active 53 DOM
10. 2026-06-07
    days on market $249,000 Active 52 DOM
11. 2026-06-04
    days on market $249,000 Active 49 DOM
12. 2026-06-02
    days on market $249,000 Active 48 DOM
13. 2026-06-01
    days on market $249,000 Active 47 DOM
14. 2026-05-31
    days on market $249,000 Active 46 DOM
15. 2026-05-14
    price $249,000 1302-char remark

    Show marketing remark (1302 chars)

    Welcome to the vibrant heart of Greenville, NY. This charming and versatile three-bedroom, two-bathroom Commercial/residence space is located along State Route 32. It offers great accessibility, remarkable visibility, and endless possibilities for both entrepreneurs and those seeking a sense of home while maybe running a business. With the major intersection of State Routes 32 and 81 right there in the epicenter of Greenville, this property boasts a location that simply cannot be replicated. The address places you right on a well-traveled state route, ensuring high traffic visibility and easy access for clients, customers, or guests. This home has been a proven money maker as a rental outfitted with an efficient Rinnai heating system and is tapped into the Municipal sewer system. Greenville is renowned for its welcoming community, scenic surroundings, and dynamic local businesses. Step outside your front door and discover walkable access to shops, restaurants, parks, and everything the town has to offer. Whether you're searching for a place to launch your next venture or just looking to fulfill the dream homeownership, this property places you at the crossroads of opportunity. A short drive to Albany, Windham, Catskill and just off exit 21 of the NYS Thruway 2.5 hours north of NYC.

16. 2026-05-14
    price $249,000 1302-char remark

    Show marketing remark (1302 chars)

    Welcome to the vibrant heart of Greenville, NY. This charming and versatile three-bedroom, two-bathroom Commercial/residence space is located along State Route 32. It offers great accessibility, remarkable visibility, and endless possibilities for both entrepreneurs and those seeking a sense of home while maybe running a business. With the major intersection of State Routes 32 and 81 right there in the epicenter of Greenville, this property boasts a location that simply cannot be replicated. The address places you right on a well-traveled state route, ensuring high traffic visibility and easy access for clients, customers, or guests. This home has been a proven money maker as a rental outfitted with an efficient Rinnai heating system and is tapped into the Municipal sewer system. Greenville is renowned for its welcoming community, scenic surroundings, and dynamic local businesses. Step outside your front door and discover walkable access to shops, restaurants, parks, and everything the town has to offer. Whether you're searching for a place to launch your next venture or just looking to fulfill the dream homeownership, this property places you at the crossroads of opportunity. A short drive to Albany, Windham, Catskill and just off exit 21 of the NYS Thruway 2.5 hours north of NYC.

17. 2026-04-14
    listed $259,000 Active 1302-char remark

    Show marketing remark (1302 chars)

    Welcome to the vibrant heart of Greenville, NY. This charming and versatile three-bedroom, two-bathroom Commercial/residence space is located along State Route 32. It offers great accessibility, remarkable visibility, and endless possibilities for both entrepreneurs and those seeking a sense of home while maybe running a business. With the major intersection of State Routes 32 and 81 right there in the epicenter of Greenville, this property boasts a location that simply cannot be replicated. The address places you right on a well-traveled state route, ensuring high traffic visibility and easy access for clients, customers, or guests. This home has been a proven money maker as a rental outfitted with an efficient Rinnai heating system and is tapped into the Municipal sewer system. Greenville is renowned for its welcoming community, scenic surroundings, and dynamic local businesses. Step outside your front door and discover walkable access to shops, restaurants, parks, and everything the town has to offer. Whether you're searching for a place to launch your next venture or just looking to fulfill the dream homeownership, this property places you at the crossroads of opportunity. A short drive to Albany, Windham, Catskill and just off exit 21 of the NYS Thruway 2.5 hours north of NYC.

18. 2026-04-14
    listed $259,000 Active 1302-char remark

    Show marketing remark (1302 chars)

    Welcome to the vibrant heart of Greenville, NY. This charming and versatile three-bedroom, two-bathroom Commercial/residence space is located along State Route 32. It offers great accessibility, remarkable visibility, and endless possibilities for both entrepreneurs and those seeking a sense of home while maybe running a business. With the major intersection of State Routes 32 and 81 right there in the epicenter of Greenville, this property boasts a location that simply cannot be replicated. The address places you right on a well-traveled state route, ensuring high traffic visibility and easy access for clients, customers, or guests. This home has been a proven money maker as a rental outfitted with an efficient Rinnai heating system and is tapped into the Municipal sewer system. Greenville is renowned for its welcoming community, scenic surroundings, and dynamic local businesses. Step outside your front door and discover walkable access to shops, restaurants, parks, and everything the town has to offer. Whether you're searching for a place to launch your next venture or just looking to fulfill the dream homeownership, this property places you at the crossroads of opportunity. A short drive to Albany, Windham, Catskill and just off exit 21 of the NYS Thruway 2.5 hours north of NYC.

19. 2026-02-13
    historical
20. 2025-10-17
    price $215,000
21. 2025-10-17
    price $215,000
22. 2025-08-12
    listed $229,000 Active
23. 2025-08-12
    listed $229,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,000
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$7,244
• Taxable loss: −$3,492
• Est. tax savings @ 24.0%: +$838
• After-tax cash flow: $1,519/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including kitchen and bathroom updates, to significantly improve its resale and rental value.

Repairs flagged

• Major Kitchen cabinets and countertops — The kitchen appears outdated and in poor condition.
• Major Bathroom fixtures and flooring — The bathroom appears outdated and in poor condition.
• Major Flooring in living areas — The flooring in the living areas appears to be in poor condition.

Value-add opportunities

• Both Kitchen renovation — A new kitchen will significantly improve the home's appeal and functionality, both for resale and rental.
• Both Bathroom renovation — A new bathroom will improve the home's appeal and functionality, both for resale and rental.
• Both Flooring replacement — New flooring will improve the home's appearance and functionality, both for resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets and countertops · The kitchen appears outdated and in poor condition.	Major	$15,000–50,000
Bathroom fixtures and flooring · The bathroom appears outdated and in poor condition.	Major	$15,000–50,000
Flooring in living areas · The flooring in the living areas appears to be in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Kitchen renovation — A new kitchen will significantly improve the home's appeal and functionality, both for resale and rental. ↑
• Both Bathroom renovation — A new bathroom will improve the home's appeal and functionality, both for resale and rental. ↑
• Both Flooring replacement — New flooring will improve the home's appearance and functionality, both for resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Greenville Central School District
• NCES district ID: 3612870
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 55% ▲ 16.00%
• Median HH income: $58,430
• Composite: 44.81/100
• National rank: #2740
• State rank: #338 of 590 in NY

Livability — Greenville

• Score: 65/100
• State rank: #713
• US rank: #13570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NY
• City population: 3,648
• Population (ZIP): 3,648

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% Hispanic / Latino 5% Asian 3% Two or more races 2%
• Common ancestry: Slovak 5% Romanian 5% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Chinese 1% Other Indo-European 1%

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: ▲ 52.23%
• Current HPI: 378.8518
• 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

+8.7% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $249,000 HVCRMLS
• 2026-05-14 Price Changed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-14 Listed $259,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-14 Listed $259,000 HVCRMLS
• 2026-02-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $215,000 HVCRMLS
• 2025-10-17 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-12 Listed $229,000 HVCRMLS
• 2025-08-12 Listed $229,000 OneKey® MLS as Distributed by MLS Grid