324 Federal City Rd · Preston-Potter Hollow, NY 12122

$35,000

2 bd · 1.0 ba · 768 sqft · Manufactured public records · 10 Days on market

Built 1974 0.80 ac lot ↓ 17% since listing

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 bedroom manufactured home. Private and picturesque country setting. Spring fed pond. Borders several hundred acres of State Forest and lake. Ideal for year round home or for vacationing. Good Condition

Key facts

• 0.8 acre lot
• Parking
• Built 1974

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 31.6% vs local median 2.1% in Preston-Potter Hollow — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• 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 $4k of equity ($242 loan paydown + $4k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 3.90% ✓
• Cap rate: 31.61%
• Cash-on-cash: 90.40%
• DSCR: 5.02
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 92.1%
• Equity multiple: 7.32×
• Total profit: $61,972
• Equity at exit: $31,531

10-year hold

• IRR: 87.0%
• Equity multiple: 16.21×
• Total profit: $149,091
• Equity at exit: $67,997

Cash invested: $9,800 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$142 /mo · $1,701/yr
• Insurance: −$15
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $672

Break-even live

Break-even rent $514

Max offer price $35,000

Occupancy floor 46%

Sensitivity live

Price	-10% $794	-5% $782	+0% $672	+5% $662	+10% $652
Rent	-10% $564	-5% $618	+0% $672	+5% $726	+10% $780
Rate	-1.0pp $689	-0.5pp $681	base $672	+0.5pp $663	+1.0pp $654

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-14
   status Pending
2. 2026-04-11
   status Active
3. 2026-04-11
   price $35,000
4. 2026-02-02
   status Pending
5. 2026-01-24
   listed $40,000 Active
6. 2014-01-29
   soldstatus $57,000
7. 2014-01-20
   soldstatus $57,000 203-char remark

   Show marketing remark (203 chars)

   2 bedroom manufactured home. Private and picturesque country setting. Spring fed pond. Borders several hundred acres of State Forest and lake. Ideal for year round home or for vacationing. Good Condition

8. 2013-09-15
   historical 203-char remark

   Show marketing remark (203 chars)

   2 bedroom manufactured home. Private and picturesque country setting. Spring fed pond. Borders several hundred acres of State Forest and lake. Ideal for year round home or for vacationing. Good Condition

9. 2013-06-14
   listed $53,500 203-char remark

   Show marketing remark (203 chars)

   2 bedroom manufactured home. Private and picturesque country setting. Spring fed pond. Borders several hundred acres of State Forest and lake. Ideal for year round home or for vacationing. Good Condition

10. 2007-08-16
    soldstatus $42,000

ⓘ 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: $1,701 · $142/mo
• Projected year-2 tax: $1,701 · $142/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,377
• − Mortgage interest: −$1,961
• − Property taxes: −$1,701
• − Insurance: −$972
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$1,018
• Taxable income: $8,104
• Est. tax owed @ 24.0%: −$1,945
• After-tax cash flow: $6,117/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 — Preston-Potter Hollow

No livability data for this city. (Only ~50 U.S. cities are tracked.)

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

-16.7% since first listed

10 events — show timeline

• 2026-04-14 Pending — Global MLS
• 2026-04-11 Relisted — Global MLS
• 2026-04-11 Price Changed $35,000 Global MLS
• 2026-02-02 Pending — Global MLS
• 2026-01-24 Listed $40,000 Global MLS
• 2014-01-29 Sold (Public Records) $57,000 Public Records
• 2014-01-20 Sold (MLS) $57,000 Global MLS
• 2013-09-15 Listing Removed — Global MLS
• 2013-06-14 Listed $53,500 Global MLS
• 2007-08-16 Sold (Public Records) $42,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,701 · +8.7% YoY. Source: county tax records.