713 Ny-217 · Philmont, NY 12534

$282,500

3 bd · 2.0 ba · 2,028 sqft · SingleFamily public records · 69 Days on market

Built 1860 0.40 ac lot $139/sqft · 32% below area Est $415k · 32% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.4/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

So much for here for the money! First time offered in over 60 years, this is your opportunity to create your memories in this 1860's farmhouse. Featuring over 2,000 square feet of spacious living on a generous 0.4-acre lot there's plenty of outdoor living space fun, including a large area for your vegetable garden that is perfect for cultivating your green thumb or creating a serene outdoor retreat. This property features ample Outbuilding Storage: boasting a variety of spaces ideal for workshops, car enthusiasts, contractors and hobbyists. Enjoy the convenience of a two-car attached garage equipped with a pellet stove and air conditioning, along with a detached one-car garage and a vinyl storage garage ideal for lawn and garden car or maybe even the motorcycle or snowmobiles. A two-car carport provides even more parking options while the completely fenced yard keeps people and pets safe. The home offers expansive living spaces with the heart of the home being the large kitchen that features a built-in island and a custom pantry, perfect for culinary enthusiasts. With abundant workspace and cabinetry, it's designed for both functionality and style. The formal living room is the perfect place to relax, complete with a stunning stone, wood-burning fireplace that adds warmth and character. The versatile family room offers flexibility; it can easily serve as a formal dining room or a cozy gathering space for family and friends. You'll find a first floor bedroom and a full bath, while upstairs features two additional bedrooms and a 3/4 bath, plus plenty of closets for ample storage throughout the home. An expandable attic spaces connects to one of the bedrooms and offers a skylight, making it an ideal play room off of the bedroom for future expansion. Wood flooring can be found under the carpeting in several of the rooms while the laundry is located in the connecting breezeway between the home and garage spaces. An exceptional value for those willing to make a few modernizations to create their dream home!

Key facts

• Vinyl storage garage
• Outbuilding storage
• Vegetable garden

Tags

• OUTDOOR LIVING SPACE
• VEGETABLE GARDEN
• OUTBUILDING STORAGE
• TWO CAR GARAGE
• DETACHED GARAGE
• VINYL STORAGE GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $282k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (5.0% below list).
• Recommended offer: $266k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#958 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B; Watch: crime F, amenities F, commute F.
• Taconic Hills Central School District (rural): math 53% / reading 51% proficiency, ranked #335 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Taconic Hills Elementary School (math 53% / reading 50%, grade C-, #1,041 of 2,108 statewide, top 50%, 562 students, 57% FRL); Taconic Hillsjunior/Senior High School (math 52% / reading 52%, grade D+, #946 of 1,100 statewide, top 88%, 502 students, 45% FRL).
• Market conditions: Rents rising fast (+10.9%/yr); 162 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $79k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($266k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 8.8

CMA / ARV

• ARV (median comp): $415,363
• List price: $282,500
• Delta: -31.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Mellenville Square Sq	0.12mi	4/1.5 (+1)	1,728 (-15%)	2mo	$425,000	$246	61
663 State Route 217	0.19mi	4/1.0 (+1)	1,890 (-7%)	14mo	$310,000	$164	59
511 Roxbury Rd	0.67mi	3/2.0	2,035 (+0%)	16mo	$390,000	$192	55
32 Prospect	0.71mi	3/2.0	2,104 (+4%)	12mo	$460,000	$219	51
581 Route 217	0.60mi	3/2.0	1,828 (-10%)	20mo	$333,000	$182	39
62 Church St	0.55mi	3/1.5	1,730 (-15%)	20mo	$111,000	$64	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 3.29×
• Total profit: $181,170
• Equity at exit: $254,498

10-year hold

• IRR: 26.2%
• Equity multiple: 8.06×
• Total profit: $558,377
• Equity at exit: $548,835

Cash invested: $79,100 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 162
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,684 medium
• Mortgage (P&I): −$1,481
• Tax from tax record: −$315 /mo · $3,783/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $206

Break-even live

Break-even rent $2,423

Max offer price $282,500

Occupancy floor 87%

Sensitivity live

Price	-10% $366	-5% $286	+0% $206	+5% $126	+10% $46
Rent	-10% $-6	-5% $100	+0% $206	+5% $312	+10% $418
Rate	-1.0pp $348	-0.5pp $278	base $206	+0.5pp $133	+1.0pp $58

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: $70,625
• Closing costs: $8,475
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $282,500 Active 69 DOM
2. 2026-06-18
   days on market $282,500 Active 68 DOM
3. 2026-06-17
   days on market $282,500 Active 67 DOM
4. 2026-06-16
   days on market $282,500 Active 66 DOM
5. 2026-06-15
   days on market $282,500 Active 65 DOM
6. 2026-06-14
   days on market $282,500 Active 63 DOM
7. 2026-06-12
   days on market $282,500 Active 62 DOM
8. 2026-06-09
   days on market $282,500 Active 59 DOM
9. 2026-06-08
   days on market $282,500 Active 58 DOM
10. 2026-06-07
    days on market $282,500 Active 57 DOM
11. 2026-06-07
    days on market $282,500 Active 56 DOM
12. 2026-06-04
    days on market $282,500 Active 53 DOM
13. 2026-06-02
    days on market $282,500 Active 52 DOM
14. 2026-06-01
    days on market $282,500 Active 51 DOM
15. 2026-05-31
    days on market $282,500 Active 50 DOM
16. 2026-05-31
    days on market $282,500 Active 49 DOM
17. 2026-04-11
    listed $282,500 Active 2040-char remark

    Show marketing remark (2040 chars)

    So much for here for the money! First time offered in over 60 years, this is your opportunity to create your memories in this 1860's farmhouse. Featuring over 2,000 square feet of spacious living on a generous 0.4-acre lot there's plenty of outdoor living space fun, including a large area for your vegetable garden that is perfect for cultivating your green thumb or creating a serene outdoor retreat. This property features ample Outbuilding Storage: boasting a variety of spaces ideal for workshops, car enthusiasts, contractors and hobbyists. Enjoy the convenience of a two-car attached garage equipped with a pellet stove and air conditioning, along with a detached one-car garage and a vinyl storage garage ideal for lawn and garden car or maybe even the motorcycle or snowmobiles. A two-car carport provides even more parking options while the completely fenced yard keeps people and pets safe. The home offers expansive living spaces with the heart of the home being the large kitchen that features a built-in island and a custom pantry, perfect for culinary enthusiasts. With abundant workspace and cabinetry, it's designed for both functionality and style. The formal living room is the perfect place to relax, complete with a stunning stone, wood-burning fireplace that adds warmth and character. The versatile family room offers flexibility; it can easily serve as a formal dining room or a cozy gathering space for family and friends. You'll find a first floor bedroom and a full bath, while upstairs features two additional bedrooms and a 3/4 bath, plus plenty of closets for ample storage throughout the home. An expandable attic spaces connects to one of the bedrooms and offers a skylight, making it an ideal play room off of the bedroom for future expansion. Wood flooring can be found under the carpeting in several of the rooms while the laundry is located in the connecting breezeway between the home and garage spaces. An exceptional value for those willing to make a few modernizations to create their dream home!

ⓘ 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: $3,783 · $315/mo
• Projected year-2 tax: $4,279 · $357/mo
• Expected delta: +$496/yr (+$41/mo · 13.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,207
• − Mortgage interest: −$15,824
• − Property taxes: −$3,783
• − Insurance: −$1,412
• − Repairs & maintenance: −$2,577
• − Management: −$2,577
• − Depreciation: −$8,218
• Taxable loss: −$2,184
• Est. tax savings @ 24.0%: +$524
• After-tax cash flow: $2,995/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: Taconic Hills Central School District
• NCES district ID: 3628620
• Math proficiency: 53% ▲ 10.00%
• Reading proficiency: 51% ▲ 11.00%
• Median HH income: $57,329
• Composite: 45.16/100
• National rank: #2676
• State rank: #335 of 590 in NY

Livability — Philmont

• Score: 60/100
• State rank: #958
• US rank: #18780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Columbia County · 17,176 people
• City population: 1,575
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, NY
• 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

1 event — show timeline

• 2026-04-11 Listed $282,500 HVCRMLS

Property tax history

+2.5%/yr

Latest (2025): $3,783 · -0.1% YoY. Source: county tax records.