231 Stone Bridge Rd · East Durham, NY 12418

$189,000

2 bd · 1.0 ba · 750 sqft · SingleFamily · 60 Days on market

Built 1970 Good condition 5,227 sqft lot $252/sqft · 47% below area Est $357k · 47% 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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Appreciation +7.0/10.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

Just reduced: Cozy Catskill Retreat Whether you're looking for a starter home or an easy weekend getaway, this charming Catskill cottage is the perfect escape. Enjoy all the surrounding attractions -- Zoom Flume Water Park, the Irish Cultural Center, Windham Mountain, golf courses, hiking trails, and Hull-O-Farms for family fun -- all just minutes away Adorable and fully renovated, this 2-bedroom, 1-bath home offers beautiful mountain views and a cozy pellet stove for those cool evenings. Situated on a small, easy-to-maintain parcel along a picturesque country road, it's ideal for those seeking the country experience without the upkeep. There are 3 heat sources. BB, pellet stove and propane heater on wall Why rent when you can own your own Catskill retreat? A true four-seasons getaway Call LA for short video Price is now firm

Key facts

• Cozy pellet stove
• Mountain views
• Three heat sources

Tags

• MOUNTAIN VIEWS
• COZY PELLET STOVE
• EASY-TO-MAINTAIN PARCEL
• PICTURESQUE COUNTRY ROAD
• THREE HEAT SOURCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.9% in East Durham — 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 A — affects rentability + tenant quality, not the cash-flow math above.
• Cairo-Durham Central School District (rural): math 41% / reading 48% proficiency, ranked #470 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.0% 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 (4.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1970 — 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. 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.
5. 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.
6. 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: 1.27% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.38%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $356,633
• List price: $189,000
• Delta: -47.00%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Enchanted Valley Rd	0.13mi	2/2.0	816 (+9%)	4mo	$98,000	$120	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.33×
• Total profit: $70,355
• Equity at exit: $95,602

10-year hold

• IRR: 22.4%
• Equity multiple: 4.52×
• Total profit: $186,054
• Equity at exit: $156,186

Cash invested: $52,920 (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 12418

• Home prices YoY: 0.9%
• Active inventory: 14
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $590

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 70%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Brown Rd East Durham, NY	3.0	1.0	960	$2,400	$2.50	23d	1	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $189,000 Active 60 DOM
2. 2026-06-17
   days on market $189,000 Active 59 DOM
3. 2026-06-16
   days on market $189,000 Active 58 DOM
4. 2026-06-15
   days on market $189,000 Active 57 DOM
5. 2026-06-14
   days on market $189,000 Active 55 DOM
6. 2026-06-10
   days on market $189,000 Active 52 DOM
7. 2026-06-09
   days on market $189,000 Active 51 DOM
8. 2026-06-08
   days on market $189,000 Active 50 DOM
9. 2026-06-07
   days on market $189,000 Active 49 DOM
10. 2026-06-05
    days on market $189,000 Active 46 DOM
11. 2026-06-03
    days on market $189,000 Active 45 DOM
12. 2026-06-02
    days on market $189,000 Active 44 DOM
13. 2026-06-01
    days on market $189,000 Active 43 DOM
14. 2026-05-31
    days on market $189,000 Active 42 DOM
15. 2026-05-31
    days on market $189,000 Active 41 DOM
16. 2026-05-06
    price $189,000 847-char remark

    Show marketing remark (847 chars)

    Just reduced: Cozy Catskill Retreat Whether you're looking for a starter home or an easy weekend getaway, this charming Catskill cottage is the perfect escape. Enjoy all the surrounding attractions -- Zoom Flume Water Park, the Irish Cultural Center, Windham Mountain, golf courses, hiking trails, and Hull-O-Farms for family fun -- all just minutes away Adorable and fully renovated, this 2-bedroom, 1-bath home offers beautiful mountain views and a cozy pellet stove for those cool evenings. Situated on a small, easy-to-maintain parcel along a picturesque country road, it's ideal for those seeking the country experience without the upkeep. There are 3 heat sources. BB, pellet stove and propane heater on wall Why rent when you can own your own Catskill retreat? A true four-seasons getaway Call LA for short video Price is now firm

17. 2026-04-19
    listed $197,000 Active 847-char remark

    Show marketing remark (847 chars)

    Just reduced: Cozy Catskill Retreat Whether you're looking for a starter home or an easy weekend getaway, this charming Catskill cottage is the perfect escape. Enjoy all the surrounding attractions -- Zoom Flume Water Park, the Irish Cultural Center, Windham Mountain, golf courses, hiking trails, and Hull-O-Farms for family fun -- all just minutes away Adorable and fully renovated, this 2-bedroom, 1-bath home offers beautiful mountain views and a cozy pellet stove for those cool evenings. Situated on a small, easy-to-maintain parcel along a picturesque country road, it's ideal for those seeking the country experience without the upkeep. There are 3 heat sources. BB, pellet stove and propane heater on wall Why rent when you can own your own Catskill retreat? A true four-seasons getaway Call LA for short video Price is now firm

18. 2025-11-11
    price $197,500
19. 2025-10-20
    listed $199,900 Active
20. 2024-09-25
    soldstatus $168,600
21. 2024-05-07
    listed $170,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $28,800
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$5,498
• Taxable income: $4,327
• Est. tax owed @ 24.0%: −$1,038
• After-tax cash flow: $6,040/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 · 12 photos

Good 75/100 Cosmetic rehab

A well-maintained, fully renovated 2-bedroom, 1-bath home with mountain views and a cozy pellet stove, ideal for a weekend getaway or starter home.

Value-add opportunities

• Both Paint exterior shed — Enhances curb appeal and value
• Both Replace curtains — Freshens look and adds value
• Resale Install new flooring in kitchen — Modernizes space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior shed — Enhances curb appeal and value ↑
• Both Replace curtains — Freshens look and adds value ↑
• Resale Install new flooring in kitchen — Modernizes space and adds value ↑

ⓘ 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: Cairo-Durham Central School District
• NCES district ID: 3606160
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 48% ▲ 8.00%
• Median HH income: $46,192
• Composite: 37.84/100
• National rank: #4330
• State rank: #470 of 590 in NY

Livability — East Durham

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

Census & demographics

• City population: 1,033
• Population (ZIP): 321

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 (85%)
• Race & ethnicity: White 85% Two or more races 11% Black 4%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 2%
• Foreign-born: 6%
• Languages at home: 89% English-only · French/Haitian/Cajun 11%

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: ▲ 3.98%
• Current HPI: 445.7105
• 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

+11.2% since first listed

6 events — show timeline

• 2026-05-06 Price Changed $189,000 HVCRMLS
• 2026-04-19 Listed $197,000 HVCRMLS
• 2025-11-11 Price Changed $197,500 HVCRMLS
• 2025-10-20 Listed $199,900 HVCRMLS
• 2024-09-25 Sold (MLS) $168,600 HVCRMLS
• 2024-05-07 Listed $170,000 HVCRMLS