900 Route 23a #27 · Palenville, NY 12414

$84,900

3 bd · 2.0 ba · 980 sqft · Manufactured · 295 Days on market

Built 1986 Fair condition Est $61k · 40% over

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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
• Schools +4.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

Key facts

• Front deck
• Private driveway
• Landscaping

Tags

• SPACIOUS LIVING ROOM
• PRIVATE DRIVEWAY
• YARD SPACE
• ENCLOSED ENTRY
• FRONT DECK
• LANDSCAPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 2.2% in Palenville — 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 55/100 on livability (#1,125 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A, housing A; Watch: amenities F, commute F, employment F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($587 loan paydown + $8k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.42% ✓
• Cap rate: 20.98%
• Cash-on-cash: 52.44%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $60,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 Route 23a #15	0.07mi	3/2.0	1,008 (+3%)	13mo	$62,500	$62	81

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

Projected returns pro-forma

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

5-year hold

• IRR: 65.7%
• Equity multiple: 5.73×
• Total profit: $112,431
• Equity at exit: $76,485

10-year hold

• IRR: 59.3%
• Equity multiple: 12.74×
• Total profit: $279,124
• Equity at exit: $164,942

Cash invested: $23,772 (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 12414

• Home prices YoY: 11.9%
• Active inventory: 104
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,058 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $1,039

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 45%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $84,900 Active 295 DOM
2. 2026-06-18
   days on market $84,900 Active 294 DOM
3. 2026-06-17
   days on market $84,900 Active 293 DOM
4. 2026-06-16
   days on market $84,900 Active 292 DOM
5. 2026-06-15
   days on market $84,900 Active 291 DOM
6. 2026-06-14
   days on market $84,900 Active 289 DOM
7. 2026-06-12
   days on market $84,900 Active 288 DOM
8. 2026-06-09
   days on market $84,900 Active 285 DOM
9. 2026-06-08
   days on market $84,900 Active 284 DOM
10. 2026-06-07
    days on market $84,900 Active 283 DOM
11. 2026-06-02
    days on market $84,900 Active 278 DOM
12. 2026-06-01
    days on market $84,900 Active 277 DOM
13. 2026-05-31
    days on market $84,900 Active 276 DOM
14. 2026-05-30
    days on market $84,900 Active 275 DOM
15. 2026-01-29
    status Active 1176-char remark

    Show marketing remark (1176 chars)

    A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

16. 2026-01-26
    historical Active Under Contract 1176-char remark

    Show marketing remark (1176 chars)

    A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

17. 2025-09-27
    status Active 1176-char remark

    Show marketing remark (1176 chars)

    A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

18. 2025-09-21
    historical Active Under Contract 1176-char remark

    Show marketing remark (1176 chars)

    A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

19. 2025-08-28
    listed $84,900 Active 1176-char remark

    Show marketing remark (1176 chars)

    A Beautifully Updated 3 Bedroom, 2 Bath, 14 x 70 Single-Wide Manufactured Home. The home features a spacious living room, a kitchen, 3 bedrooms, 2 full baths, a laundry closet, an enclosed entry, a front deck, and a shed. There's landscaping, a private driveway, and yard space. The monthly lot lease fee is 415 and includes water, sewer, and snowplowing. View our multi-media website, virtual tours, and floor plan of the home and property. The home has great proximity to the area's destinations & attractions as it's 5 to 10 minutes to the Village of Catskill, 25 minutes to Hunter Ski Mountain, 15 minutes to Dutchman's Landing Park & the Hudson River, 20 minutes to the Village of Saugerties, & 20 minutes to Green Lake. Please consult with a lender about financing for single-wide trailers in parks. Since there is no real property, financing is different than purchasing a single-family home with real property, and there are different terms and requirements. Not all lenders offer financing for single-wide trailers in parks. Upon an acceptance of an offer, you will need to submit an application to the park owner seeking approval for park ownership.

20. 2025-01-13
    listed $76,900 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $24,691
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,975
• − Management: −$1,975
• − Depreciation: −$2,470
• Taxable income: $11,817
• Est. tax owed @ 24.0%: −$2,836
• After-tax cash flow: $9,629/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires significant exterior and interior repairs, including a new roof and painting, to improve its condition and value.

Repairs flagged

• Major roof — Significant wear and potential leaks
• Major exterior siding — Severe weathering and peeling
• Major paint — Peeling and fading paint

Value-add opportunities

• Both Paint the exterior and interior — Enhances curb appeal and interior aesthetics
• Both Replace the roof — Fixes major structural issue and improves home value
• Both Upgrade the HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and potential leaks	Major	$15,000–50,000
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
paint · Peeling and fading paint	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint the exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace the roof — Fixes major structural issue and improves home value ↑
• Both Upgrade the HVAC system — Improves comfort and energy efficiency ↑

ⓘ 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: Catskill Central School District
• NCES district ID: 3606720
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $44,960
• Composite: 40.63/100
• National rank: #3685
• State rank: #429 of 590 in NY

Livability — Palenville

• Score: 55/100
• State rank: #1125
• US rank: #23193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greene County · 10,169 people
• Metro: nan
• Population (ZIP): 10,169
• Household income: $73,036
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 318.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Scotch-Irish 3% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 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: ▲ 52.47%
• Current HPI: 494.3394
• Rent YoY: —
• Metro: nan
• 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

+10.4% since first listed

6 events — show timeline

• 2026-01-29 Relisted — HVCRMLS
• 2026-01-26 Contingent — HVCRMLS
• 2025-09-27 Relisted — HVCRMLS
• 2025-09-21 Contingent — HVCRMLS
• 2025-08-28 Listed $84,900 HVCRMLS
• 2025-01-13 Listed $76,900 HVCRMLS