94 N Franklin St · Athens, NY 12015

$399,000

5 bd · 4.0 ba · 3,440 sqft · MultiFamily public records · 35 Days on market

Built 1850 0.65 ac lot $116/sqft · 39% below area Est $646k · 38% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Large 3 Family House 3440 SF 5 Bedrooms 4 Baths with off street parking Municpal Water/Sewer Large spacious 0.65 acre lot Coxsackie Athens Schools Being sold as-is

Key facts

• Multi-unit property
• Off-street parking
• Detached garage

Tags

• MULTI-UNIT PROPERTY
• OFF-STREET PARKING
• DETACHED GARAGE
• LARGE OVERSIZED VILLAGE LOT
• RESTAURANTS MARINAS PARKS
• LONG-TERM RENTAL INCOME

Property features AI

Finance

• HOA & community: Playground in the community

Exterior

• Parking: Garage with 1 parking space; Driveway
• Utilities: Public water; Public sewer; Electricity connected with circuit breakers; Cable available; Phone available
• Home design: Multi-family structure; Residential single family residence
• Construction: Asphalt shingle roof; Unfinished walk-out basement
• Exterior features: Front porch; Back yard; Above-ground pool; Paved road access; Garage structure on property

Interior

• Flooring: Wood
• Heating & cooling: No heating; No cooling
• Interior features: Wood flooring; Double-sided fireplace
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#785 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools F, amenities F, commute F.
• Coxsackie-Athens Central School District (town): math 43% / reading 56% proficiency, ranked #384 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($3k loan paydown + $24k appreciation (5.9% 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 (5.9% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 $84k; list at $399k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — 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. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.95% ✓
• Cap rate: 16.76%
• Cash-on-cash: 37.40%
• DSCR: 2.66
• GRM: 4.3

CMA / ARV

• ARV (median comp): $645,695
• List price: $399,000
• Delta: -38.21%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 4.00×
• Total profit: $335,220
• Equity at exit: $248,931

10-year hold

• IRR: 44.3%
• Equity multiple: 8.28×
• Total profit: $812,970
• Equity at exit: $449,795

Cash invested: $111,720 (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 12015

• Home prices YoY: 1.4%
• Active inventory: 91
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $7,762 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$392 /mo · $4,699/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,630
• Net cashflow: $3,482

Break-even live

Break-even rent $3,355

Max offer price $399,000

Occupancy floor 50%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,761
Total (3 units)			$7,762

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $399,000 Active 35 DOM
2. 2026-06-17
   days on market $399,000 Active 34 DOM
3. 2026-06-16
   days on market $399,000 Active 33 DOM
4. 2026-06-15
   days on market $399,000 Active 32 DOM
5. 2026-06-14
   days on market $399,000 Active 30 DOM
6. 2026-06-13
   days on market $399,000 Active 29 DOM
7. 2026-06-10
   days on market $399,000 Active 27 DOM
8. 2026-06-09
   days on market $399,000 Active 26 DOM
9. 2026-06-08
   days on market $399,000 Active 25 DOM
10. 2026-06-07
    days on market $399,000 Active 24 DOM
11. 2026-06-05
    days on market $399,000 Active 21 DOM
12. 2026-06-03
    days on market $399,000 Active 20 DOM
13. 2026-06-02
    days on market $399,000 Active 19 DOM
14. 2026-06-01
    days on market $399,000 Active 18 DOM
15. 2026-05-31
    days on market $399,000 Active 17 DOM
16. 2026-05-31
    days on market $399,000 Active 16 DOM
17. 2026-05-14
    listed $399,000 Active 1042-char remark
18. 2022-07-19
    listed $425,000
19. 2018-05-30
    soldstatus $83,900

    Show marketing remark (164 chars)

    Large 3 Family House 3440 SF 5 Bedrooms 4 Baths with off street parking Municpal Water/Sewer Large spacious 0.65 acre lot Coxsackie Athens Schools Being sold as-is

20. 2018-04-26
    soldstatus $83,900
21. 2018-02-26
    listed $83,900

    Show marketing remark (164 chars)

    Large 3 Family House 3440 SF 5 Bedrooms 4 Baths with off street parking Municpal Water/Sewer Large spacious 0.65 acre lot Coxsackie Athens Schools Being sold as-is

22. 2018-02-24
    listed $83,900
23. 2002-05-21
    soldstatus $105,000
24. 2002-05-20
    soldstatus $105,000
25. 2002-01-13
    listed $110,000

ⓘ 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: $4,699 · $392/mo
• Projected year-2 tax: $5,721 · $477/mo
• Expected delta: +$1,022/yr (+$85/mo · 21.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $93,144
• − Mortgage interest: −$22,350
• − Property taxes: −$4,699
• − Insurance: −$1,995
• − Repairs & maintenance: −$7,452
• − Management: −$7,452
• − Depreciation: −$11,607
• Taxable income: $37,589
• Est. tax owed @ 24.0%: −$9,021
• After-tax cash flow: $32,759/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: Coxsackie-Athens Central School District
• NCES district ID: 3608490
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 56% ▲ 19.00%
• Median HH income: $55,006
• Composite: 42.8/100
• National rank: #3143
• State rank: #384 of 590 in NY

Livability — Athens

• Score: 63/100
• State rank: #785
• US rank: #15102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, NY
• Population (ZIP): 4,084

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 4% Dominican 2%
• Common ancestry: Romanian 3% Iranian 3% Scotch-Irish 2%
• Foreign-born: 11% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Russian/Polish/Slavic 5% Other Indo-European 2% Spanish 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: ▲ 5.93%
• Current HPI: 426.3034
• 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

+262.7% since first listed

9 events — show timeline

• 2026-05-14 Listed $399,000 HVCRMLS
• 2022-07-19 Listed $425,000 HVCRMLS
• 2018-05-30 Sold (MLS) $83,900 HVCRMLS
• 2018-04-26 Sold (MLS) $83,900 HVCRMLS
• 2018-02-26 Listed $83,900 HVCRMLS
• 2018-02-24 Listed $83,900 HVCRMLS
• 2002-05-21 Sold (Public Records) $105,000 Public Records
• 2002-05-20 Sold (MLS) $105,000 Global MLS
• 2002-01-13 Listed $110,000 Global MLS

Property tax history

-3.2%/yr

Latest (2025): $4,699 · +3.3% YoY. Source: county tax records.