31754 State Highway 23 · Stamford, NY 12167

$359,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 78 Days on market

Built 1975 2.00 ac lot $267/sqft · 9% below area Est $393k · 9% 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 +19.4/30.0
• ARV discount +11.4/15.0
• Appreciation +7.6/10.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled on just 2 scenic acres, this Cape–style home offers the perfect blend of country comfort and practical amenities. Featuring 3 bedrooms and 2 full bathrooms, the home is thoughtfully designed for both everyday living and entertaining. The main level showcases a warm and inviting kitchen complete with beautiful hickory cabinets, Corian countertops, and stainless steel appliances—ideal for home cooks and gatherings alike. A cozy wood-burning fireplace on the main floor adds charm and warmth, while a wood-burning insert downstairs provides additional comfort and efficiency during the cooler months. Enjoy year-round relaxation in the bright four-season room, or take in the peaceful surroundings from the welcoming front deck. Additional highlights include a lower-level attached garage with the potential for extra living space, complete with a half bathroom for a guest area. Just minutes—only 5 minutes—from the Village of Stamford. A standout feature is the 40x64 3-bay garage, equipped with two lifts, office space, and its own bathroom—perfect for automotive enthusiasts, contractors, or anyone in need of a versatile workspace. Whether you're looking for a full-time residence or a country retreat with room to work and play, this unique property has it all.

Key facts

• Front deck
• Four-season room
• Corian countertops

Tags

• HICKORY CABINETS
• CORIAN COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FOUR-SEASON ROOM
• FRONT DECK
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/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 $340k (5.3% below list).
• Recommended offer: $337k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.3% in Stamford — 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 67/100 on livability (#574 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment C-, schools D-, amenities F.
• Stamford Central School District (rural): math 40% / reading 35% proficiency, ranked #675 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 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 $21k of equity ($2k loan paydown + $19k appreciation (5.2% local appreciation)).
• Schoharie County population projected at -30% 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 $101k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $359k implies a 322% gain — meaningful room to come down on a strong offer.

Recommended offer $337,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 0.95% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $393,383
• List price: $359,000
• Delta: -8.74%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

5.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 2.12×
• Total profit: $112,413
• Equity at exit: $207,971

10-year hold

• IRR: 17.5%
• Equity multiple: 4.14×
• Total profit: $315,793
• Equity at exit: $362,732

Cash invested: $100,520 (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 12167

• Home prices YoY: 1.4%
• Active inventory: 36
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,401 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$255 /mo · $3,057/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $400

Break-even live

Break-even rent $2,895

Max offer price $359,000

Occupancy floor 83%

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $359,000 Active 78 DOM
2. 2026-06-17
   days on market $359,000 Active 77 DOM
3. 2026-06-16
   days on market $359,000 Active 76 DOM
4. 2026-06-16
   price $359,000 Active 75 DOM
5. 2026-06-15
   days on market $379,900 Active 75 DOM
6. 2026-06-13
   days on market $379,900 Active 73 DOM
7. 2026-06-12
   days on market $379,900 Active 72 DOM
8. 2026-06-09
   days on market $379,900 Active 69 DOM
9. 2026-06-08
   days on market $379,900 Active 68 DOM
10. 2026-06-07
    days on market $379,900 Active 67 DOM
11. 2026-06-07
    days on market $379,900 Active 66 DOM
12. 2026-06-04
    days on market $379,900 Active 63 DOM
13. 2026-06-02
    days on market $379,900 Active 62 DOM
14. 2026-06-01
    days on market $379,900 Active 61 DOM
15. 2026-05-31
    days on market $379,900 Active 60 DOM
16. 2026-04-01
    listed $379,900 Active 1306-char remark

    Show marketing remark (1306 chars)

    Nestled on just 2 scenic acres, this Cape–style home offers the perfect blend of country comfort and practical amenities. Featuring 3 bedrooms and 2 full bathrooms, the home is thoughtfully designed for both everyday living and entertaining. The main level showcases a warm and inviting kitchen complete with beautiful hickory cabinets, Corian countertops, and stainless steel appliances—ideal for home cooks and gatherings alike. A cozy wood-burning fireplace on the main floor adds charm and warmth, while a wood-burning insert downstairs provides additional comfort and efficiency during the cooler months. Enjoy year-round relaxation in the bright four-season room, or take in the peaceful surroundings from the welcoming front deck. Additional highlights include a lower-level attached garage with the potential for extra living space, complete with a half bathroom for a guest area. Just minutes—only 5 minutes—from the Village of Stamford. A standout feature is the 40x64 3-bay garage, equipped with two lifts, office space, and its own bathroom—perfect for automotive enthusiasts, contractors, or anyone in need of a versatile workspace. Whether you're looking for a full-time residence or a country retreat with room to work and play, this unique property has it all.

17. 2002-03-07
    soldstatus $85,000

ⓘ 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: $3,057 · $255/mo
• Projected year-2 tax: $4,562 · $380/mo
• Expected delta: +$1,505/yr (+$125/mo · 49.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $40,815
• − Mortgage interest: −$20,110
• − Property taxes: −$3,057
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − Depreciation: −$10,444
• Taxable loss: −$1,120
• Est. tax savings @ 24.0%: +$269
• After-tax cash flow: $5,069/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: Stamford Central School District
• NCES district ID: 3628020
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $42,968
• Composite: 34.29/100
• National rank: #10231
• State rank: #675 of 755 in NY

Livability — Stamford

• Score: 67/100
• State rank: #574
• US rank: #10332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,257

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 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: ▲ 5.21%
• Current HPI: 368.4492
• 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

+346.9% since first listed

2 events — show timeline

• 2026-04-01 Listed $379,900 UNYREIS
• 2002-03-07 Sold (Public Records) $85,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $3,057 · -2.9% YoY. Source: county tax records.