120 Main St · Schenevus, NY 12155

$167,000

4 bd · 2.5 ba · 2,334 sqft · MultiFamily public records · 6 Days on market

Built 1883 0.48 ac lot

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Two family home located on Main St in the Village of Schenevus, Town of Maryland, NY on a spacious level village lot. Unit One: First floor features large rooms, including kitchen, dining, living room, laundry, and 2 bedrooms. Unit Two: Second story great room with large bedroom and office or another small bedroom. Numerous upgrades include a newer roof on the house and garage, windows, oil tank, furnace, septic, water heater, and blacktop driveway. Great for owner occupancy!

Key facts

• Open concept kitchen
• Formal dining room
• First floor laundry

Tags

• TWO FAMILY HOME
• OPEN KITCHEN
• FORMAL DINING ROOM
• FIRST FLOOR LAUNDRY
• SUN FILLED FRONT PORCH
• OPEN CONCEPT KITCHEN

Property features AI

Finance

• Financial info: Tenant pays all utilities; Operating expenses include insurance and trash

Exterior

• Parking: 1-car garage; Paved parking; Multiple parking spaces available
• Utilities: Cable available; High-speed internet available; Water connected (public); Septic tank
• Home design: Single-story; Existing construction
• Construction: Vinyl siding; Asphalt roof; Stone foundation
• Exterior features: Deck; Private yard; See remarks

Interior

• Kitchen: Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Propane heating; Oil heating; Has heating
• Interior features: Ceiling fan(s); Accessible bedroom; Bedroom on main level
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $167k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive. Per door: $299/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).

Location & tenants

• Location reads 57/100 on livability (#1,087 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, employment D+, schools D.
• Schenevus Central School District (rural): math 35% / reading 45% proficiency, ranked #638 of 755 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.4% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.
• Current owner paid $140k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1883 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.36%
• DSCR: 1.68
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.51×
• Total profit: $70,689
• Equity at exit: $88,201

10-year hold

• IRR: 24.5%
• Equity multiple: 4.94×
• Total profit: $184,096
• Equity at exit: $147,150

Cash invested: $46,760 (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 12155

• Home prices YoY: 1.2%
• Active inventory: 18
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,409 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$359 /mo · $4,311/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $598

Break-even live

Break-even rent $1,651

Max offer price $167,000

Occupancy floor 70%

Sensitivity live

Price	-10% $693	-5% $646	+0% $598	+5% $551	+10% $504
Rent	-10% $408	-5% $503	+0% $598	+5% $694	+10% $789
Rate	-1.0pp $683	-0.5pp $641	base $598	+0.5pp $555	+1.0pp $511

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,408
Total (2 units)			$2,409

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $167,000 Active 6 DOM
2. 2026-06-18
   days on market $167,000 Active 5 DOM
3. 2026-06-17
   days on market $167,000 Active 4 DOM
4. 2026-06-16
   days on market $167,000 Active 3 DOM
5. 2026-06-15
   days on market $167,000 Active 2 DOM
6. 2026-06-14
   remarks 699-char remark
7. 2026-06-14
   listed $167,000 Active 1 DOM

ⓘ 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: $4,311 · $359/mo
• Projected year-2 tax: $4,311 · $359/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $28,908
• − Mortgage interest: −$9,355
• − Property taxes: −$4,311
• − Insurance: −$835
• − Repairs & maintenance: −$2,313
• − Management: −$2,313
• − Depreciation: −$4,858
• Taxable income: $4,924
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $6,000/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: Schenevus Central School District
• NCES district ID: 3603060
• Math proficiency: 35% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $48,113
• Composite: 36.72/100
• National rank: #9205
• State rank: #638 of 755 in NY

Livability — Schenevus

• Score: 57/100
• State rank: #1087
• US rank: #22005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenevus, NY
• Population (ZIP): 1,812

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 6% Lithuanian 5% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.36%
• Current HPI: 375.2291
• 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

+12.1% since first listed

10 events — show timeline

• 2026-06-13 Listed $167,000 UNYREIS
• 2025-10-15 Listing Removed — UNYREIS
• 2025-07-28 Listed $184,000 UNYREIS
• 2022-11-15 Sold (Public Records) $140,000 Public Records
• 2022-11-08 Listing Removed — Global MLS
• 2022-11-02 Sold (MLS) $140,000 ODBOR
• 2022-11-02 Sold (MLS) $140,000 UNYREIS
• 2022-10-18 Pending — Global MLS
• 2022-02-11 Listed $149,000 Global MLS
• 2022-02-11 Listed $149,000 UNYREIS

Property tax history

+7.7%/yr

Latest (2025): $4,311 · +4.0% YoY. Source: county tax records.