123 Ecker Hollow Rd · Middleburgh, NY 12157

$69,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 120 Days on market

Built 1875 2.50 ac lot $63/sqft · 64% below area ↓ 4% since listing

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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 +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 +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Set on a scenic 2.5 acre parcel in the Middleburgh school district, this country home offers a great opportunity to customize and create your vision. This handyman home is ready for your ideas and improvements. Property is being sold ''as is''.

Key facts

• 2.5 acre lot
• 2 parking spots
• Built 1875

Tags

• SCENIC 2.5 ACRE PARCEL
• MIDDLEBURGH SCHOOL DISTRICT
• OPPORTUNITY TO CUSTOMIZE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.3% in Middleburgh — 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 68/100 on livability (#518 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: employment D+, amenities F, commute F.
• Middleburgh Central School District (rural): math 44% / reading 54% proficiency, ranked #409 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 1.70% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.34%
• DSCR: 1.77
• GRM: 4.9

CMA / ARV

• ARV (median comp): $193,985
• List price: $69,000
• Delta: -64.43%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Rickard Rd	0.10mi	2/1.0 (-1)	1,052 (-4%)	8mo	$100,000	$95	78

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: 37.2%
• Equity multiple: 3.87×
• Total profit: $55,481
• Equity at exit: $62,161

10-year hold

• IRR: 32.1%
• Equity multiple: 8.75×
• Total profit: $149,643
• Equity at exit: $134,052

Cash invested: $19,320 (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 12157

• Home prices YoY: 20.9%
• Active inventory: 26
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,171 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$256 /mo · $3,068/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $279

Break-even live

Break-even rent $818

Max offer price $69,000

Occupancy floor 71%

Sensitivity live

Price	-10% $318	-5% $299	+0% $279	+5% $260	+10% $240
Rent	-10% $187	-5% $233	+0% $279	+5% $325	+10% $372
Rate	-1.0pp $314	-0.5pp $297	base $279	+0.5pp $261	+1.0pp $243

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   statusdays on market $69,000 Pending 120 DOM
2. 2026-06-18
   days on market $69,000 Active 119 DOM
3. 2026-06-17
   days on market $69,000 Active 118 DOM
4. 2026-06-16
   days on market $69,000 Active 117 DOM
5. 2026-06-15
   days on market $69,000 Active 116 DOM
6. 2026-06-13
   days on market $69,000 Active 114 DOM
7. 2026-06-12
   days on market $69,000 Active 113 DOM
8. 2026-06-09
   days on market $69,000 Active 110 DOM
9. 2026-06-08
   days on market $69,000 Active 109 DOM
10. 2026-06-07
    days on market $69,000 Active 108 DOM
11. 2026-06-07
    days on market $69,000 Active 107 DOM
12. 2026-06-04
    days on market $69,000 Active 104 DOM
13. 2026-06-02
    days on market $69,000 Active 103 DOM
14. 2026-06-01
    days on market $69,000 Active 102 DOM
15. 2026-05-31
    days on market $69,000 Active 101 DOM
16. 2026-03-24
    price $69,000 246-char remark

    Show marketing remark (246 chars)

    Set on a scenic 2.5 acre parcel in the Middleburgh school district, this country home offers a great opportunity to customize and create your vision. This handyman home is ready for your ideas and improvements. Property is being sold ''as is''.

17. 2026-02-19
    listed $72,000 Active 246-char remark

    Show marketing remark (246 chars)

    Set on a scenic 2.5 acre parcel in the Middleburgh school district, this country home offers a great opportunity to customize and create your vision. This handyman home is ready for your ideas and improvements. Property is being sold ''as is''.

ⓘ 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: $3,068 · $256/mo
• Projected year-2 tax: $3,068 · $256/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 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,057
• − Mortgage interest: −$3,865
• − Property taxes: −$3,068
• − Insurance: −$345
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$2,007
• Taxable income: $2,523
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $2,745/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: Middleburgh Central School District
• NCES district ID: 3619260
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $47,677
• Composite: 41.7/100
• National rank: #3412
• State rank: #409 of 590 in NY

Livability — Middleburgh

• Score: 68/100
• State rank: #518
• US rank: #9180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,444

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Asian 2% Black 1%
• Common ancestry: Slovak 3% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · China, South Korea
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 56.89%
• Current HPI: 328.5011
• 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

-4.2% since first listed

2 events — show timeline

• 2026-03-24 Price Changed $69,000 Global MLS
• 2026-02-19 Listed $72,000 Global MLS

Property tax history

+0.7%/yr

Latest (2025): $3,068 · +2.3% YoY. Source: county tax records.