5807 Main St · Tannersville, NY 12485

$425,000

5 bd · 3.0 ba · 1,428 sqft · MultiFamily public records · 191 Days on market

Built 1960 0.60 ac lot $298/sqft · 44% above area Est $490k · 13% under ↓ 12% since listing

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Why this score? — see what drove the D 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).

• ARV discount +13.5/15.0
• Cash flow +7.7/30.0
• Schools +4.6/10.0
• Appreciation +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.8/10.0

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

Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

Key facts

• Two legal apartments
• Expansive deck
• Generous backyard

Tags

• TWO LEGAL APARTMENTS
• EXPANSIVE DECK
• GENEROUS BACKYARD
• WELL-APPOINTED APARTMENT
• IN-UNIT WASHER AND DRYER
• SPACIOUS STUDIO APARTMENT

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $-489 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (30.3% below list).
• Recommended offer: $296k (30.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#977 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: employment C-, cost of living C-, crime D-.
• Hunter-Tannersville Central School District (rural): math 55% / reading 50% proficiency, ranked #425 of 755 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunter Elementary School (math 37% / reading 57%, grade D-, #1,195 of 2,108 statewide, top 60%, 186 students, 45% FRL); Hunter-Tannersville Middle School High School (math 52% / reading 44%, grade D, #1,002 of 1,100 statewide, top 91%, 153 students, 48% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $296,100 (30.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.70% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• GRM: 12.0

CMA / ARV

• ARV (median comp): $490,085
• List price: $425,000
• Delta: -13.28%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-100,009
• Equity at exit: $63,369

10-year hold

• IRR: -20.4%
• Equity multiple: -0.07×
• Total profit: $-127,248
• Equity at exit: $36,746

Cash invested: $119,000 (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 12485

• Home prices YoY: -0.7%
• Active inventory: 25
• Price-to-rent: 30.7×

Monthly cashflow live

• Estimated rent: $2,961 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$422 /mo · $5,063/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $-489

Break-even live

Break-even rent $3,579

Max offer price $338,689

Occupancy floor —

Sensitivity live

Price	-10% $-248	-5% $-368	+0% $-489	+5% $-609	+10% $-729
Rent	-10% $-723	-5% $-606	+0% $-489	+5% $-372	+10% $-255
Rate	-1.0pp $-275	-0.5pp $-380	base $-489	+0.5pp $-599	+1.0pp $-711

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,155
1× unit	2	1	$953
1× unit	1	1	$853
Total (3 units)			$2,961

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 S Main St Prattsville, NY	4.0	2.0	1697	$2,500	$1.47	16d	1	0.31mi

Listing history 27 events

1. 2026-06-21
   statusdays on market $425,000 Active Under Contract 191 DOM
2. 2026-06-19
   days on market $425,000 Active 189 DOM
3. 2026-06-18
   days on market $425,000 Active 188 DOM
4. 2026-06-17
   days on market $425,000 Active 187 DOM
5. 2026-06-16
   days on market $425,000 Active 186 DOM
6. 2026-06-15
   days on market $425,000 Active 185 DOM
7. 2026-06-14
   days on market $425,000 Active 183 DOM
8. 2026-06-12
   days on market $425,000 Active 182 DOM
9. 2026-06-09
   days on market $425,000 Active 179 DOM
10. 2026-06-08
    days on market $425,000 Active 178 DOM
11. 2026-06-07
    days on market $425,000 Active 177 DOM
12. 2026-06-05
    days on market $425,000 Active 174 DOM
13. 2026-06-03
    days on market $425,000 Active 173 DOM
14. 2026-06-02
    days on market $425,000 Active 172 DOM
15. 2026-06-01
    days on market $425,000 Active 171 DOM
16. 2026-05-31
    days on market $425,000 Active 170 DOM
17. 2026-05-30
    days on market $425,000 Active 169 DOM
18. 2026-05-05
    price $425,000 886-char remark

    Show marketing remark (874 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer. and the 3rd unit, a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes! A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

19. 2026-05-05
    price $425,000 874-char remark

    Show marketing remark (874 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer. and the 3rd unit, a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes! A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

20. 2026-03-06
    price $450,000 874-char remark

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

21. 2026-03-06
    price $450,000 886-char remark

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

22. 2026-02-10
    historical
23. 2025-12-12
    listed $475,000 Active 874-char remark

    Show marketing remark (874 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer. and the 3rd unit, a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes! A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

24. 2025-11-13
    price $475,000 886-char remark

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

25. 2025-11-13
    price $475,000

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

26. 2025-09-24
    listed $485,000 Active 886-char remark

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

27. 2025-09-24
    listed $485,000 Active

    Show marketing remark (886 chars)

    Three Family home in beautiful Tannersville! Investors dream with a projected cap rate over 12 at asking price for long term rentals in all 3 units, short term rentals also allowed! Or live in the main unit and let the other 2 pay your mortgage! The main house welcomes you with three comfortable bedrooms and two full baths, crowned by an expansive deck that overlooks a generous backyard. On the lower level, you'll find a well-appointed two-bedroom, one-bathroom apartment complete with an in-unit washer and dryer, and the 3rd unit - a generous studio apartment with a full kitchen. Both lower units have their own patio spaces There is also lots of off street parking! Hunter Mountain's world-class skiing is just eight minutes away. And North South Lake is only 5 minutes A 3D Walkthrough Tour is available in the digital Lookbook or by request from the listing agent.

ⓘ 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: $5,063 · $422/mo
• Projected year-2 tax: $6,123 · $510/mo
• Expected delta: +$1,060/yr (+$88/mo · 20.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥86°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $35,532
• − Mortgage interest: −$23,807
• − Property taxes: −$5,063
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,843
• − Management: −$2,843
• − Depreciation: −$12,364
• Taxable loss: −$13,512
• Est. tax savings @ 24.0%: +$3,243
• After-tax cash flow: $-2,620/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: Hunter-Tannersville Central School District
• NCES district ID: 3615060
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $43,719
• Composite: 46.19/100
• National rank: #5442
• State rank: #425 of 755 in NY

Livability — Tannersville

• Score: 60/100
• State rank: #977
• US rank: #19101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tannersville, NY
• Population (ZIP): 1,136

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 20%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 4% Italian 2% Scotch-Irish 1%
• Foreign-born: 4% · Canada
• Languages at home: 79% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -3.48%
• Current HPI: 498.2269
• 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

-12.4% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $425,000 HVCRMLS
• 2026-05-05 Price Changed $425,000 HVCRMLS
• 2026-03-06 Price Changed $450,000 HVCRMLS
• 2026-03-06 Price Changed $450,000 HVCRMLS
• 2026-02-10 Listing Removed — Global MLS
• 2025-12-12 Listed $475,000 HVCRMLS
• 2025-11-13 Price Changed $475,000 HVCRMLS
• 2025-11-13 Price Changed $475,000 Global MLS
• 2025-09-24 Listed $485,000 HVCRMLS
• 2025-09-24 Listed $485,000 Global MLS

Property tax history

+2.2%/yr

Latest (2025): $5,063 · +1.5% YoY. Source: county tax records.