8583 New York 23a · Hunter, NY 12444

$399,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily · 26 Days on market

Built 1993 Fair condition 1.40 ac lot

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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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.6/10.0
• Appreciation +4.4/10.0
• 1% rule +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Experience the best of four-season mountain living in this beautifully updated home perfectly positioned on Route 23A in the heart of the Catskills. With immediate access to the vibrant dining and shopping scenes of Tannersville, Hunter, and Windham, this property offers the ideal blend of nature and convenience -- never isolated, always connected. One of the most distinctive features of this home is its direct frontage on the Schoharie Creek -- a truly rare amenity that sets this property apart. Whether you're fishing at dawn or simply listening to the water from your wraparound deck, the creek access delivers an unmatched outdoor experience. That same deck treats you to breathtaking mount

Key facts

• Wraparound deck
• 1.4 acre lot
• Built 1993

Tags

• WRAPAROUND DECK
• WOOD-BURNING FIREPLACE

Property features AI

Finance

• Financial info: Annual tax: $4,375

Exterior

• Home design: Single-family residential property
• Exterior features: Approximately 1.4-acre lot; Zoned RC

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Dishwasher
• Bathrooms: Two full bathrooms
• Interior features: Primary bedroom located on the ground floor
• Laundry & utility: Washer and dryer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $399k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $147 ($2k/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 $368k (7.9% below list).
• Recommended offer: $368k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 1.6% in Hunter — 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 60/100 on livability (#971 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: housing D+, crime F, amenities F.
• Hunter-Tannersville Central School District (rural): math 55% / reading 50% proficiency, ranked #425 of 755 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $3k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.

Recommended offer $367,607 (7.9% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.92% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.78×
• Total profit: $-24,118
• Equity at exit: $92,618

10-year hold

• IRR: 2.0%
• Equity multiple: 1.18×
• Total profit: $20,204
• Equity at exit: $94,141

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 12444

• Home prices YoY: -0.2%
• Active inventory: 29
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,676 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$772
• Net cashflow: $147

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 91%

Sensitivity live

Price	-10% $422	-5% $285	+0% $147	+5% $9	+10% $-129
Rent	-10% $-144	-5% $1	+0% $147	+5% $292	+10% $437
Rate	-1.0pp $348	-0.5pp $248	base $147	+0.5pp $43	+1.0pp $-62

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 18 events

1. 2026-06-21
   days on market $399,000 Active 26 DOM
2. 2026-06-19
   days on market $399,000 Active 24 DOM
3. 2026-06-18
   days on market $399,000 Active 23 DOM
4. 2026-06-17
   days on market $399,000 Active 22 DOM
5. 2026-06-16
   days on market $399,000 Active 21 DOM
6. 2026-06-15
   days on market $399,000 Active 20 DOM
7. 2026-06-14
   days on market $399,000 Active 18 DOM
8. 2026-06-12
   days on market $399,000 Active 17 DOM
9. 2026-06-09
   days on market $399,000 Active 14 DOM
10. 2026-06-08
    days on market $399,000 Active 13 DOM
11. 2026-06-07
    days on market $399,000 Active 12 DOM
12. 2026-06-05
    days on market $399,000 Active 9 DOM
13. 2026-06-03
    days on market $399,000 Active 8 DOM
14. 2026-06-02
    days on market $399,000 Active 7 DOM
15. 2026-06-01
    days on market $399,000 Active 6 DOM
16. 2026-05-31
    days on market $399,000 Active 5 DOM
17. 2026-05-30
    days on market $399,000 Active 4 DOM
18. 2026-05-26
    listed $399,000 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: $44,113
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,529
• − Management: −$3,529
• − Depreciation: −$11,607
• Taxable loss: −$4,883
• Est. tax savings @ 24.0%: +$1,172
• After-tax cash flow: $2,932/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 · 14 photos

Fair 45/100 Moderate rehab

This home is in fair condition with moderate repairs needed, particularly in the kitchen and interior walls. Painting and refinishing can significantly enhance its curb appeal and value.

Repairs flagged

• Moderate Kitchen cabinets — The cabinets are dated and show signs of wear.
• Moderate Paint on exterior and interior walls — The paint is faded and could benefit from a fresh coat.
• Moderate Flooring — The flooring is worn and could use refinishing.

Value-add opportunities

• Resale Painting the exterior and interior walls — Fresh paint can significantly improve the curb appeal and overall look of the home, making it more attractive to potential buyers.
• Resale Refinishing the flooring — Refinished flooring can enhance the home's value by making it look newer and more appealing to potential buyers.
• Both Landscaping — Landscaping can improve the home's curb appeal and add value, both for resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are dated and show signs of wear.	Moderate	$3,000–15,000
Paint on exterior and interior walls · The paint is faded and could benefit from a fresh coat.	Moderate	$3,000–15,000
Flooring · The flooring is worn and could use refinishing.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale Painting the exterior and interior walls — Fresh paint can significantly improve the curb appeal and overall look of the home, making it more attractive to potential buyers. ↑
• Resale Refinishing the flooring — Refinished flooring can enhance the home's value by making it look newer and more appealing to potential buyers. ↑
• Both Landscaping — Landscaping can improve the home's curb appeal and add value, 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: Hunter-Tannersville Central School District
• NCES district ID: 3615060
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $43,719
• Composite: 46.19/100
• National rank: #5442
• State rank: #425 of 755 in NY

Livability — Hunter

• Score: 60/100
• State rank: #971
• US rank: #18992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 519

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: Majority White (59%)
• Race & ethnicity: White 59% Two or more races 38% Hispanic / Latino 34%
• Hispanic origin (detail): Cuban 3%
• Common ancestry: Romanian 12% Lithuanian 5% Subsaharan African 3%
• Foreign-born: 4%
• Languages at home: 98% English-only · Russian/Polish/Slavic 2%

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: ▼ -1.19%
• Current HPI: 483.4459
• 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

• 2026-05-26 Listed $399,000 HVCRMLS