3894 Solsville Rd · Madison, NY 13402

$149,000

3 bd · 3.0 ba · 1,720 sqft · Other · 41 Days on market

Built 1900 Fair condition

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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).

• Cash flow +13.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Potential for income property, free bedroom upstairs, shop and possible studio apartment downstairs, 30 foot RV trailer with hookups behind. Property goes behind building about three hundred feet along the stream. Beautiful streamside relax area next to beautiful stone bridge right on the old chianango canal. Great commercial / retail location across from the solsville hotel. One mile from central school. All the heavy duty remodeling is done. Needs finish work sheetrock, paint etc. Perfect level to finish the way that suits your needs.

Key facts

• Income property
• Stone bridge
• Built 1900

Tags

• INCOME PROPERTY
• RV TRAILER WITH HOOKUPS
• STREAMSIDE RELAX AREA
• STONE BRIDGE
• COMMERCIAL RETAIL LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $0 ($3/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 $130k (12.5% below list).
• Recommended offer: $130k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#1,012 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: health & safety C-, schools F, crime F.
• Madison Central School District (rural): math 35% / reading 31% proficiency, ranked #703 of 755 in NY (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.2% local appreciation)).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,372 (12.5% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 13% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.29%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.10×
• Total profit: $4,311
• Equity at exit: $52,451

10-year hold

• IRR: 6.5%
• Equity multiple: 1.81×
• Total profit: $33,683
• Equity at exit: $70,945

Cash invested: $41,720 (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 13402

• Home prices YoY: 0.5%
• Active inventory: 4
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $0

Break-even live

Break-even rent $1,303

Max offer price $149,000

Occupancy floor 95%

Sensitivity live

Price	-10% $103	-5% $52	+0% $0	+5% $-51	+10% $-103
Rent	-10% $-103	-5% $-51	+0% $0	+5% $52	+10% $103
Rate	-1.0pp $75	-0.5pp $38	base $0	+0.5pp $-38	+1.0pp $-78

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $149,000 Active 41 DOM
2. 2026-06-21
   days on market $149,000 Active 40 DOM
3. 2026-06-21
   days on market $149,000 Active 39 DOM
4. 2026-06-18
   days on market $149,000 Active 37 DOM
5. 2026-06-17
   days on market $149,000 Active 36 DOM
6. 2026-06-16
   days on market $149,000 Active 35 DOM
7. 2026-06-15
   days on market $149,000 Active 34 DOM
8. 2026-06-13
   days on market $149,000 Active 32 DOM
9. 2026-06-12
   days on market $149,000 Active 31 DOM
10. 2026-06-09
    days on market $149,000 Active 28 DOM
11. 2026-06-08
    days on market $149,000 Active 27 DOM
12. 2026-06-07
    days on market $149,000 Active 26 DOM
13. 2026-06-07
    days on market $149,000 Active 25 DOM
14. 2026-06-04
    days on market $149,000 Active 22 DOM
15. 2026-06-02
    days on market $149,000 Active 21 DOM
16. 2026-06-01
    days on market $149,000 Active 20 DOM
17. 2026-05-31
    days on market $149,000 Active 19 DOM
18. 2026-05-12
    listed $149,000 Active 542-char remark

ⓘ 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: $15,645
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$4,335
• Taxable loss: −$2,519
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $607/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 · 2 photos

Fair 45/100 Moderate rehab

The property requires significant repairs and maintenance, including roof replacement, exterior painting and repairs, HVAC maintenance and replacement, and landscaping improvements. These updates would significantly increase its value for both resale and rental purposes.

Repairs flagged

• Major roof — The satellite image suggests the roof may be leaking or in need of replacement.
• Major exterior walls/siding — The satellite image shows significant wear and tear on the exterior walls and siding.
• Major HVAC condensers — The satellite image shows HVAC condensers that may need maintenance or replacement.
• Major interior walls/paint — The satellite image suggests the interior walls may be in need of painting or repairs.
• Major landscaping — The satellite image shows a lack of landscaping and a potentially unkempt appearance, which could be improved with some landscaping work.

Value-add opportunities

• Both roof replacement — Re-roofing would significantly improve the home's appearance and increase its value.
• Both exterior painting and repairs — Painting and repairing the exterior would enhance the home's curb appeal and increase its value.
• Both HVAC maintenance and replacement — Upgrading the HVAC system would improve comfort and energy efficiency, increasing both resale and rental value.
• Both landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's exterior and increase its value for both resale and rental purposes.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The satellite image suggests the roof may be leaking or in need of replacement.	Major	$15,000–50,000
exterior walls/siding · The satellite image shows significant wear and tear on the exterior walls and siding.	Major	$15,000–50,000
HVAC condensers · The satellite image shows HVAC condensers that may need maintenance or replacement.	Major	$15,000–50,000
interior walls/paint · The satellite image suggests the interior walls may be in need of painting or repairs.	Major	$15,000–50,000
landscaping · The satellite image shows a lack of landscaping and a potentially unkempt appearance, which could be improved with some landscaping work.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both roof replacement — Re-roofing would significantly improve the home's appearance and increase its value. ↑
• Both exterior painting and repairs — Painting and repairing the exterior would enhance the home's curb appeal and increase its value. ↑
• Both HVAC maintenance and replacement — Upgrading the HVAC system would improve comfort and energy efficiency, increasing both resale and rental value. ↑
• Both landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's exterior and increase its value for both resale and rental purposes. ↑

ⓘ 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: Madison Central School District
• NCES district ID: 3618080
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $47,441
• Composite: 31.16/100
• National rank: #11276
• State rank: #703 of 755 in NY

Livability — Madison

• Score: 59/100
• State rank: #1012
• US rank: #19700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,295
• Population (ZIP): 1,295

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 2%
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.20%
• Current HPI: 246.4398
• 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

1 event — show timeline

• 2026-05-12 Listed $149,000 FSBO.com