187 W Main St · Hancock, NY 13783

$110,000

4 bd · 2.0 ba · 1,605 sqft · SingleFamily · 35 Days on market

Built 1905 5,663 sqft lot Est $209k · 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 +27.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• 1% rule +8.6/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Hancock Village home, close to shopping, walking distance to schools, library and center of town , where there are activities. Has lots of possibilities as a rental or as a primary residence. Come take a look.

Key facts

• Close to shopping
• 5,663 sq ft lot
• Built 1905

Tags

• CLOSE TO SHOPPING
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO LIBRARY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.4% in Hancock — 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 70/100 on livability (#454 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D+, amenities D, commute F.
• Hancock Central School District (rural): math 40% / reading 40% proficiency, ranked #649 of 755 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Delaware County population projected at -27% 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $38k; list at $110k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1905 — 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. 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. 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: 1.36% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.16%
• DSCR: 1.59
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $208,650
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
77 Vestal Ave	0.18mi	3/2.5 (-1)	1,660 (+3%)	7mo	$215,000	$130	73
24814 State Highway 97	0.53mi	3/2.0 (-1)	1,700 (+6%)	12mo	$150,000	$88	50
28 Berger St	0.72mi	3/1.5 (-1)	1,400 (-13%)	8mo	$160,000	$114	32
473 Perkins Rd	0.65mi	4/3.0	1,766 (+10%)	22mo	$375,000	$212	30

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: 34.0%
• Equity multiple: 3.65×
• Total profit: $81,498
• Equity at exit: $99,097

10-year hold

• IRR: 29.3%
• Equity multiple: 8.25×
• Total profit: $223,226
• Equity at exit: $213,706

Cash invested: $30,800 (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 13783

• Home prices YoY: 2.9%
• Active inventory: 57
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$221 /mo · $2,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $338

Break-even live

Break-even rent $1,068

Max offer price $110,000

Occupancy floor 72%

Sensitivity live

Price	-10% $400	-5% $369	+0% $338	+5% $307	+10% $276
Rent	-10% $220	-5% $279	+0% $338	+5% $397	+10% $456
Rate	-1.0pp $393	-0.5pp $366	base $338	+0.5pp $309	+1.0pp $280

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-12
   status Pending
2. 2026-03-12
   listed $110,000 Active
3. 2026-03-07
   status Pending
4. 2026-01-29
   listed $110,000 Active
5. 2004-01-21
   soldstatus $37,500

ⓘ 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: $2,650 · $221/mo
• Projected year-2 tax: $2,650 · $221/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 3/10 Moderate 8 d/yr ≥92°F today · 18 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: $17,944
• − Mortgage interest: −$6,162
• − Property taxes: −$2,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$3,200
• Taxable income: $2,511
• Est. tax owed @ 24.0%: −$603
• After-tax cash flow: $3,451/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: Hancock Central School District
• NCES district ID: 3613560
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $40,208
• Composite: 35.99/100
• National rank: #9539
• State rank: #649 of 755 in NY

Livability — Hancock

• Score: 70/100
• State rank: #454
• US rank: #7935

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hancock, NY
• Population (ZIP): 2,200

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Asian 3% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Serbian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 97% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.62%
• Current HPI: 484.0977
• 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

+193.3% since first listed

5 events — show timeline

• 2026-03-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-12 Listed $110,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-07 Pending — UNYREIS
• 2026-01-29 Listed $110,000 UNYREIS
• 2004-01-21 Sold (Public Records) $37,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,650 · +2.4% YoY. Source: county tax records.