43 Main St · Schenevus, NY 12155

$65,000

4 bd · 3.0 ba · 3,375 sqft · MultiFamily public records · 2 Days on market

Built 1850 5,227 sqft lot $19/sqft · 72% below area

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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
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Seeking a renovation project with significant potential? This property offers a blank canvas, stripped to the studs and ready for your vision. Previously configured as two spacious 2-bedroom, 1-bathroom apartments, there's also the possibility of converting it back to commercial space, leveraging its history as a storefront with large front windows and ample storage. It could also easily be transformed into a single-family home. There are 2 staircases leading to the 2nd floor and also 2 electric services. Essential updates are already in place, including a newer metal roof, new front rubber roof and updated electrical, leaving the exciting work of planning and finishing to the new owner. The convenient location near I-88 access adds to its appeal.

Key facts

• Updated electrical
• 2 staircases
• Newer metal roof

Tags

• LARGE FRONT WINDOWS
• AMPLE STORAGE
• 2 STAIRCASES
• NEWER METAL ROOF
• UPDATED ELECTRICAL

Property features AI

Exterior

• Parking: Driveway; no garage
• Utilities: Electricity connected; Public water connected; Septic tank sewer
• Home design: 2-story frame home with vinyl siding; Existing property
• Construction: Built with frame construction and vinyl siding; Metal roof; Block foundation
• Exterior features: Rectangular lot with 80 x 90 dimensions; Road frontage on a main thoroughfare; Driveway (no garage)

Interior

• Bedrooms: Total of 10 rooms (bedroom breakdown not specified)
• Flooring: Hardwood and varied flooring
• Heating & cooling: Heating details: see remarks
• Interior features: Hardwood and varied flooring throughout; Full walk-out basement; Other interior features (see remarks)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).

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: 19 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 $3k of equity ($449 loan paydown + $3k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 16y 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 $38k; list at $65k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.43% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.88%
• DSCR: 2.82
• GRM: 3.4

CMA / ARV

• ARV (median comp): $233,672
• List price: $65,000
• Delta: -72.18%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.3%
• Equity multiple: 3.87×
• Total profit: $52,249
• Equity at exit: $34,330

10-year hold

• IRR: 46.8%
• Equity multiple: 7.88×
• Total profit: $125,276
• Equity at exit: $57,274

Cash invested: $18,200 (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: 19
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,579 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$260 /mo · $3,114/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $620

Break-even live

Break-even rent $794

Max offer price $65,000

Occupancy floor 56%

Sensitivity live

Price	-10% $843	-5% $821	+0% $620	+5% $602	+10% $583
Rent	-10% $495	-5% $558	+0% $620	+5% $682	+10% $745
Rate	-1.0pp $653	-0.5pp $637	base $620	+0.5pp $603	+1.0pp $586

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-05-15
   status Pending 757-char remark

   Show marketing remark (757 chars)

   Seeking a renovation project with significant potential? This property offers a blank canvas, stripped to the studs and ready for your vision. Previously configured as two spacious 2-bedroom, 1-bathroom apartments, there's also the possibility of converting it back to commercial space, leveraging its history as a storefront with large front windows and ample storage. It could also easily be transformed into a single-family home. There are 2 staircases leading to the 2nd floor and also 2 electric services. Essential updates are already in place, including a newer metal roof, new front rubber roof and updated electrical, leaving the exciting work of planning and finishing to the new owner. The convenient location near I-88 access adds to its appeal.

2. 2026-05-15
   status Pending 757-char remark

   Show marketing remark (757 chars)

   Seeking a renovation project with significant potential? This property offers a blank canvas, stripped to the studs and ready for your vision. Previously configured as two spacious 2-bedroom, 1-bathroom apartments, there's also the possibility of converting it back to commercial space, leveraging its history as a storefront with large front windows and ample storage. It could also easily be transformed into a single-family home. There are 2 staircases leading to the 2nd floor and also 2 electric services. Essential updates are already in place, including a newer metal roof, new front rubber roof and updated electrical, leaving the exciting work of planning and finishing to the new owner. The convenient location near I-88 access adds to its appeal.

3. 2026-05-13
   listed $65,000 Active 757-char remark
4. 2026-05-05
   listed $65,000 Active 757-char remark

   Show marketing remark (757 chars)

   Seeking a renovation project with significant potential? This property offers a blank canvas, stripped to the studs and ready for your vision. Previously configured as two spacious 2-bedroom, 1-bathroom apartments, there's also the possibility of converting it back to commercial space, leveraging its history as a storefront with large front windows and ample storage. It could also easily be transformed into a single-family home. There are 2 staircases leading to the 2nd floor and also 2 electric services. Essential updates are already in place, including a newer metal roof, new front rubber roof and updated electrical, leaving the exciting work of planning and finishing to the new owner. The convenient location near I-88 access adds to its appeal.

5. 2024-08-26
   soldstatus $37,500 Closed

   Show marketing remark (620 chars)

   A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

6. 2024-07-02
   soldstatus $37,500 Closed
7. 2024-06-09
   historical Contingent
8. 2024-06-08
   historical Active Under Contract

   Show marketing remark (620 chars)

   A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

9. 2024-06-08
   price $69,500

   Show marketing remark (620 chars)

   A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

10. 2024-05-16
    status Active

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

11. 2024-04-21
    historical Active Under Contract

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

12. 2024-03-12
    price $79,500
13. 2024-01-14
    price $79,500

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

14. 2023-10-03
    price $87,500

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

15. 2023-10-03
    price $87,500

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

16. 2023-10-02
    price $89,000

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

17. 2023-08-29
    price $95,000

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

18. 2023-08-29
    price $95,000

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

19. 2023-08-03
    price $99,500
20. 2023-07-12
    listed $119,000 Active
21. 2023-06-19
    listed $119,000 Active

    Show marketing remark (620 chars)

    A RARE FIND ! A two story historical building with unique designing. Presently was under a re-hap when this property became available. Use as a two family with front store front, or a small office space or retail business. What ever you may have a use for it. At one time there was an attorney's office in front, another was a part-time veterinarian office. There is a indoor walk up to second floor if you wish to use as a one family residence, etc. The is new electric service and breakers, new wiring, metal roofing to last a "lifetime" modern heating boiler, and much more. Many uses fir your imagination.

22. 2014-08-14
    soldstatus $105,000
23. 2014-08-08
    soldstatus $105,000
24. 2014-08-08
    soldstatus $105,000
25. 2013-06-26
    listed $116,000
26. 2013-06-26
    listed $116,000
27. 2011-05-12
    listed $139,000
28. 2011-04-30
    historical
29. 2010-04-07
    listed $139,000
30. 2010-04-07
    listed $139,000
31. 2010-04-07
    listed $139,000
32. 2004-08-04
    soldstatus $65,000
33. 1998-06-15
    soldstatus $50,000

ⓘ 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: $3,114 · $260/mo
• Projected year-2 tax: $3,114 · $260/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 1/10 Low FEMA zone X (unshaded) · 0% 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 2% 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: $18,949
• − Mortgage interest: −$3,641
• − Property taxes: −$3,114
• − Insurance: −$325
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$1,891
• Taxable income: $6,946
• Est. tax owed @ 24.0%: −$1,667
• After-tax cash flow: $5,773/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

+30.0% since first listed

37 events — show timeline

• 2026-05-15 Pending — UNYREIS
• 2026-05-15 Pending — UNYREIS
• 2026-05-13 Listed $65,000 UNYREIS
• 2026-05-05 Listed $65,000 UNYREIS
• 2024-08-26 Sold (MLS) $37,500 UNYREIS
• 2024-07-02 Sold (MLS) $37,500 Global MLS
• 2024-06-09 Contingent — Global MLS
• 2024-06-08 Contingent — UNYREIS
• 2024-06-08 Price Changed $69,500 UNYREIS
• 2024-05-16 Relisted — UNYREIS
• 2024-04-21 Contingent — UNYREIS
• 2024-03-12 Price Changed $79,500 Global MLS
• 2024-01-14 Price Changed $79,500 UNYREIS
• 2023-10-03 Price Changed $87,500 UNYREIS
• 2023-10-03 Price Changed $87,500 Global MLS
• 2023-10-02 Price Changed $89,000 UNYREIS
• 2023-08-29 Price Changed $95,000 UNYREIS
• 2023-08-29 Price Changed $95,000 Global MLS
• 2023-08-03 Price Changed $99,500 Global MLS
• 2023-07-12 Listed $119,000 Global MLS
• 2023-06-19 Listed $119,000 UNYREIS
• 2014-08-14 Sold (Public Records) $105,000 Public Records
• 2014-08-08 Sold (MLS) $105,000 UNYREIS
• 2014-08-08 Sold (MLS) $105,000 UNYREIS
• 2013-06-26 Listed $116,000 UNYREIS
• 2013-06-26 Listed $116,000 UNYREIS
• 2012-05-12 Listing Removed — Global MLS
• 2011-05-12 Listed $139,000 Global MLS
• 2011-05-12 Listed $139,000 UNYREIS
• 2011-04-30 Listing Removed — Global MLS
• 2011-04-30 Listing Removed — Global MLS
• 2010-04-07 Listed $139,000 Global MLS
• 2010-04-07 Listed $139,000 Global MLS
• 2010-04-07 Listed $139,000 UNYREIS
• 2010-04-07 Listed $139,000 UNYREIS
• 2004-08-04 Sold (Public Records) $65,000 Public Records
• 1998-06-15 Sold (Public Records) $50,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $3,114 · -32.8% YoY. Source: county tax records.