460 Main St · Cairo, NY 12413

$139,900

12 bd · None ba · 3,003 sqft · MultiFamily · 227 Days on market

Built 1900 Poor condition 0.27 ac lot $47/sqft · 71% below area ↓ 18% 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 +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

A Prime Cairo Business District Development Opportunity! Seize the chance to invest in the resurgence and revitalization of Cairo with this highly visible, mixed-use property located in the heart of the business district. This is a rare development opportunity to create a 3 to 4 unit multi-use building with both commercial and residential income potential. This corner property is strategically situated at Main Street & Bross Street which previously offered 1-2 commercial/retail spaces on the ground floor (including a former barbershop area) and a studio apartment. The second Floor offered a spacious 2-bedroom, 1 1/2 bath residential apartment. The layout allows an investor to reimagine the property as a valuable mixed-use asset for Cairo's thriving business corridor. Unfortunately, this property was recently subjected to a fire on the second floor, resulting in extensive fire and water damage. The building has been secured, making this a quintessential ''blank canvas'' opportunity for a cash investor or developer. This is your chance to execute your dream vision and maximize returns by redeveloping a valuable corner lot in a prime location. The building boasts excellent walkability and proximity, essential for both commercial tenants and residents. It's located steps away from local eateries, bakeries, convenience stores, the Cairo Public Library, Angelo Canna Town Park, and Town Hall. It has great proximity to the area's destinations and attractions as it's 10 minutes to Green Lake, 15 minutes to Zoom Flume Water Park, 20 minutes to Windham Mountain, 30 minutes to Hunter Mountain, 15 minutes to Dutchman's Landing Park and the Hudson River, & 25 minutes to the Village of Saugerties. Due to the property's condition, agents and buyers must fill-out and sign a Hold Harmless Agreement to schedule a showing. Buyers and agents must fully review the available pictures, 3D virtual tours, floor plans, and the multi-media website prior to requesting a showing. View the virtual tour today and seize this opportunity to develop your dream business and a high-potential investment property!

Key facts

• 0.27 acre lot
• Built 1900
• Listed 227 days

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 3×?bd/?ba units multifamily listed at $140k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $775/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.9% vs local median 2.9% in Cairo — 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 64/100 on livability (#755 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D-, amenities F, commute F.
• 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: 62 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($967 loan paydown + $14k 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 $39k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, 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 227 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $140k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.68% ✓
• Cap rate: 32.88%
• Cash-on-cash: 94.97%
• DSCR: 5.23
• GRM: 2.3

CMA / ARV

• ARV (median comp): $487,103
• List price: $139,900
• Delta: -71.28%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.99×
• Total profit: $273,718
• Equity at exit: $126,033

10-year hold

• IRR: 99.2%
• Equity multiple: 17.62×
• Total profit: $650,938
• Equity at exit: $271,795

Cash invested: $39,172 (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 12413

• Active inventory: 62
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $5,148 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,081
• Net cashflow: $3,100

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 35%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$1,381
▸ 3× units	0	0	$3,768
Total (4 units)			$5,148

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $139,900 Active 227 DOM
2. 2026-06-17
   days on market $139,900 Active 226 DOM
3. 2026-06-16
   days on market $139,900 Active 225 DOM
4. 2026-06-15
   days on market $139,900 Active 224 DOM
5. 2026-06-14
   days on market $139,900 Active 222 DOM
6. 2026-06-10
   days on market $139,900 Active 219 DOM
7. 2026-06-09
   days on market $139,900 Active 218 DOM
8. 2026-06-08
   days on market $139,900 Active 217 DOM
9. 2026-06-07
   days on market $139,900 Active 216 DOM
10. 2026-06-05
    days on market $139,900 Active 213 DOM
11. 2026-06-03
    days on market $139,900 Active 212 DOM
12. 2026-06-02
    days on market $139,900 Active 211 DOM
13. 2026-06-01
    days on market $139,900 Active 210 DOM
14. 2026-05-31
    days on market $139,900 Active 209 DOM
15. 2026-05-31
    days on market $139,900 Active 208 DOM
16. 2026-03-01
    price $139,900 2123-char remark

    Show marketing remark (2123 chars)

    A Prime Cairo Business District Development Opportunity! Seize the chance to invest in the resurgence and revitalization of Cairo with this highly visible, mixed-use property located in the heart of the business district. This is a rare development opportunity to create a 3 to 4 unit multi-use building with both commercial and residential income potential. This corner property is strategically situated at Main Street & Bross Street which previously offered 1-2 commercial/retail spaces on the ground floor (including a former barbershop area) and a studio apartment. The second Floor offered a spacious 2-bedroom, 1 1/2 bath residential apartment. The layout allows an investor to reimagine the property as a valuable mixed-use asset for Cairo's thriving business corridor. Unfortunately, this property was recently subjected to a fire on the second floor, resulting in extensive fire and water damage. The building has been secured, making this a quintessential ''blank canvas'' opportunity for a cash investor or developer. This is your chance to execute your dream vision and maximize returns by redeveloping a valuable corner lot in a prime location. The building boasts excellent walkability and proximity, essential for both commercial tenants and residents. It's located steps away from local eateries, bakeries, convenience stores, the Cairo Public Library, Angelo Canna Town Park, and Town Hall. It has great proximity to the area's destinations and attractions as it's 10 minutes to Green Lake, 15 minutes to Zoom Flume Water Park, 20 minutes to Windham Mountain, 30 minutes to Hunter Mountain, 15 minutes to Dutchman's Landing Park and the Hudson River, & 25 minutes to the Village of Saugerties. Due to the property's condition, agents and buyers must fill-out and sign a Hold Harmless Agreement to schedule a showing. Buyers and agents must fully review the available pictures, 3D virtual tours, floor plans, and the multi-media website prior to requesting a showing. View the virtual tour today and seize this opportunity to develop your dream business and a high-potential investment property!

17. 2026-02-27
    status Active 2123-char remark

    Show marketing remark (2123 chars)

    A Prime Cairo Business District Development Opportunity! Seize the chance to invest in the resurgence and revitalization of Cairo with this highly visible, mixed-use property located in the heart of the business district. This is a rare development opportunity to create a 3 to 4 unit multi-use building with both commercial and residential income potential. This corner property is strategically situated at Main Street & Bross Street which previously offered 1-2 commercial/retail spaces on the ground floor (including a former barbershop area) and a studio apartment. The second Floor offered a spacious 2-bedroom, 1 1/2 bath residential apartment. The layout allows an investor to reimagine the property as a valuable mixed-use asset for Cairo's thriving business corridor. Unfortunately, this property was recently subjected to a fire on the second floor, resulting in extensive fire and water damage. The building has been secured, making this a quintessential ''blank canvas'' opportunity for a cash investor or developer. This is your chance to execute your dream vision and maximize returns by redeveloping a valuable corner lot in a prime location. The building boasts excellent walkability and proximity, essential for both commercial tenants and residents. It's located steps away from local eateries, bakeries, convenience stores, the Cairo Public Library, Angelo Canna Town Park, and Town Hall. It has great proximity to the area's destinations and attractions as it's 10 minutes to Green Lake, 15 minutes to Zoom Flume Water Park, 20 minutes to Windham Mountain, 30 minutes to Hunter Mountain, 15 minutes to Dutchman's Landing Park and the Hudson River, & 25 minutes to the Village of Saugerties. Due to the property's condition, agents and buyers must fill-out and sign a Hold Harmless Agreement to schedule a showing. Buyers and agents must fully review the available pictures, 3D virtual tours, floor plans, and the multi-media website prior to requesting a showing. View the virtual tour today and seize this opportunity to develop your dream business and a high-potential investment property!

18. 2026-02-04
    historical Active Under Contract 2123-char remark

    Show marketing remark (2123 chars)

    A Prime Cairo Business District Development Opportunity! Seize the chance to invest in the resurgence and revitalization of Cairo with this highly visible, mixed-use property located in the heart of the business district. This is a rare development opportunity to create a 3 to 4 unit multi-use building with both commercial and residential income potential. This corner property is strategically situated at Main Street & Bross Street which previously offered 1-2 commercial/retail spaces on the ground floor (including a former barbershop area) and a studio apartment. The second Floor offered a spacious 2-bedroom, 1 1/2 bath residential apartment. The layout allows an investor to reimagine the property as a valuable mixed-use asset for Cairo's thriving business corridor. Unfortunately, this property was recently subjected to a fire on the second floor, resulting in extensive fire and water damage. The building has been secured, making this a quintessential ''blank canvas'' opportunity for a cash investor or developer. This is your chance to execute your dream vision and maximize returns by redeveloping a valuable corner lot in a prime location. The building boasts excellent walkability and proximity, essential for both commercial tenants and residents. It's located steps away from local eateries, bakeries, convenience stores, the Cairo Public Library, Angelo Canna Town Park, and Town Hall. It has great proximity to the area's destinations and attractions as it's 10 minutes to Green Lake, 15 minutes to Zoom Flume Water Park, 20 minutes to Windham Mountain, 30 minutes to Hunter Mountain, 15 minutes to Dutchman's Landing Park and the Hudson River, & 25 minutes to the Village of Saugerties. Due to the property's condition, agents and buyers must fill-out and sign a Hold Harmless Agreement to schedule a showing. Buyers and agents must fully review the available pictures, 3D virtual tours, floor plans, and the multi-media website prior to requesting a showing. View the virtual tour today and seize this opportunity to develop your dream business and a high-potential investment property!

19. 2025-11-03
    listed $149,900 Active 2123-char remark

    Show marketing remark (2123 chars)

    A Prime Cairo Business District Development Opportunity! Seize the chance to invest in the resurgence and revitalization of Cairo with this highly visible, mixed-use property located in the heart of the business district. This is a rare development opportunity to create a 3 to 4 unit multi-use building with both commercial and residential income potential. This corner property is strategically situated at Main Street & Bross Street which previously offered 1-2 commercial/retail spaces on the ground floor (including a former barbershop area) and a studio apartment. The second Floor offered a spacious 2-bedroom, 1 1/2 bath residential apartment. The layout allows an investor to reimagine the property as a valuable mixed-use asset for Cairo's thriving business corridor. Unfortunately, this property was recently subjected to a fire on the second floor, resulting in extensive fire and water damage. The building has been secured, making this a quintessential ''blank canvas'' opportunity for a cash investor or developer. This is your chance to execute your dream vision and maximize returns by redeveloping a valuable corner lot in a prime location. The building boasts excellent walkability and proximity, essential for both commercial tenants and residents. It's located steps away from local eateries, bakeries, convenience stores, the Cairo Public Library, Angelo Canna Town Park, and Town Hall. It has great proximity to the area's destinations and attractions as it's 10 minutes to Green Lake, 15 minutes to Zoom Flume Water Park, 20 minutes to Windham Mountain, 30 minutes to Hunter Mountain, 15 minutes to Dutchman's Landing Park and the Hudson River, & 25 minutes to the Village of Saugerties. Due to the property's condition, agents and buyers must fill-out and sign a Hold Harmless Agreement to schedule a showing. Buyers and agents must fully review the available pictures, 3D virtual tours, floor plans, and the multi-media website prior to requesting a showing. View the virtual tour today and seize this opportunity to develop your dream business and a high-potential investment property!

20. 2025-03-20
    soldstatus $60,000 563-char remark

    Show marketing remark (563 chars)

    A Great Commercial & Investment Property on Main St in Cairo! There are up to 4 Units. The units consist of 1 or 2 commercial spaces and 2 residential units. On the 1st floor, there is a commercial or retail space, a separate room that was formerly a barber shop, and a studio apartment in the back of the building. On the 2nd floor, there is a large 2 bedroom, 1 1/2 bath apartment which is occupied by the owner. The property is at the corner of Main St. & Bross St. in the business district of Cairo. Please view our 3D virtual tour of the property.

21. 2021-02-22
    listed $169,900 563-char remark

    Show marketing remark (563 chars)

    A Great Commercial & Investment Property on Main St in Cairo! There are up to 4 Units. The units consist of 1 or 2 commercial spaces and 2 residential units. On the 1st floor, there is a commercial or retail space, a separate room that was formerly a barber shop, and a studio apartment in the back of the building. On the 2nd floor, there is a large 2 bedroom, 1 1/2 bath apartment which is occupied by the owner. The property is at the corner of Main St. & Bross St. in the business district of Cairo. Please view our 3D virtual tour of the property.

ⓘ 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: $61,776
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$4,942
• − Management: −$4,942
• − Depreciation: −$4,070
• Taxable income: $37,187
• Est. tax owed @ 24.0%: −$8,925
• After-tax cash flow: $28,276/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

Poor 20/100 Extensive rehab

This property requires extensive repairs and rebuilding to be habitable and marketable. Immediate action is needed to address the structural damage and safety concerns.

Repairs flagged

• Major ceiling — Exposed and damaged
• Major roof — Exposed and damaged
• Major flooring — Exposed and damaged
• Major interior walls — Exposed and damaged
• Major systems — Exposed and damaged

Value-add opportunities

• Both Rebuild ceiling and roof — Essential for safety and appearance
• Both Replace flooring and walls — Essential for safety and appearance
• Both Rehab kitchen and bathrooms — Essential for safety and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling · Exposed and damaged	Major	$15,000–50,000
roof · Exposed and damaged	Major	$15,000–50,000
flooring · Exposed and damaged	Major	$15,000–50,000
interior walls · Exposed and damaged	Major	$15,000–50,000
systems · Exposed and damaged	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Rebuild ceiling and roof — Essential for safety and appearance ↑
• Both Replace flooring and walls — Essential for safety and appearance ↑
• Both Rehab kitchen and bathrooms — Essential for safety and appearance ↑

ⓘ 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 — Cairo

• Score: 64/100
• State rank: #755
• US rank: #14433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cairo, NY
• City population: 3,406
• Population (ZIP): 3,406

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 (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 4% Romanian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▲ 140.58%
• Current HPI: 406.4299
• 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

-17.7% since first listed

6 events — show timeline

• 2026-03-01 Price Changed $139,900 HVCRMLS
• 2026-02-27 Relisted — HVCRMLS
• 2026-02-04 Contingent — HVCRMLS
• 2025-11-03 Listed $149,900 HVCRMLS
• 2025-03-20 Sold (MLS) $60,000 HVCRMLS
• 2021-02-22 Listed $169,900 HVCRMLS