153 Main St · Delhi, NY 13753

$265,000

6 bd · 3.0 ba · 3,264 sqft · MultiFamily · 225 Days on market

Built 1900 Good condition 3,467 sqft lot $81/sqft · 52% 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 +25.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.9/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +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

* * Outstanding Income Opportunity in a Sought-After Catskills Location * * Unlock exceptional returns with this well-maintained tri-plex, nestled in the vibrant heart of Delhi, NY—a proven hub for consistent rental demand. Featuring three attractive units, this property delivers reliable, diversified cash flow and stands as a strategic asset for both seasoned and emerging real estate investors. Each residence is thoughtfully designed for comfort and functionality, with spacious living rooms, dedicated dining areas, full kitchens, and private bathrooms. The building offers a versatile mix: a bright two-bedroom apartment at the front, a cozy one-bedroom suite at the rear, and a generously sized three-bedroom unit occupying the entire second floor—ideal for accommodating a range of tenant profiles. Located just steps from the county courthouse, top-rated schools, and a variety of restaurants, this property's tenants enjoy walkable convenience. Major shopping destinations in Oneonta are only 30 minutes away, further enhancing tenant appeal and occupancy stability. Whether you're seeking to expand your property portfolio, generate dependable dividend income, or establish a foothold in a high-growth Catskills market, this tri-plex is a rare investment opportunity not to be missed. Secure your position in a thriving rental market—schedule a tour and explore your next smart acquisition today.

Key facts

• Private bathrooms
• Full kitchens
• 3,467 sq ft lot

Tags

• WELL MAINTAINED TRI-PLEX
• THREE ATTRACTIVE UNITS
• SPACIOUS LIVING ROOMS
• DEDICATED DINING AREAS
• FULL KITCHENS
• PRIVATE BATHROOMS

🏷️ Possibly a rental listed for sale. The $265,000 price doesn't fit this home's estimated sale value (~$553,213) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#393 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Delaware Academy Central School District At Delhi (rural): math 57% / reading 57% proficiency, ranked #284 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 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 $28k of equity ($2k loan paydown + $26k 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 $74k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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 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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $553,213
• List price: $265,000
• Delta: -52.10%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.4%
• Equity multiple: 3.46×
• Total profit: $182,453
• Equity at exit: $238,733

10-year hold

• IRR: 27.1%
• Equity multiple: 7.84×
• Total profit: $507,439
• Equity at exit: $514,837

Cash invested: $74,200 (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 13753

• Home prices YoY: 13.0%
• Active inventory: 31
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $3,075 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $598

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 76%

Sensitivity live

Price	-10% $781	-5% $689	+0% $598	+5% $506	+10% $415
Rent	-10% $355	-5% $476	+0% $598	+5% $719	+10% $841
Rate	-1.0pp $731	-0.5pp $665	base $598	+0.5pp $529	+1.0pp $459

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,079
▸ 2× units	1	1	$1,996
Total (3 units)			$3,075

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $265,000 Active 225 DOM
2. 2026-06-18
   days on market $265,000 Active 224 DOM
3. 2026-06-17
   days on market $265,000 Active 223 DOM
4. 2026-06-16
   days on market $265,000 Active 222 DOM
5. 2026-06-15
   days on market $265,000 Active 221 DOM
6. 2026-06-14
   days on market $265,000 Active 219 DOM
7. 2026-06-12
   days on market $265,000 Active 218 DOM
8. 2026-06-09
   days on market $265,000 Active 215 DOM
9. 2026-06-08
   days on market $265,000 Active 214 DOM
10. 2026-06-07
    days on market $265,000 Active 213 DOM
11. 2026-06-07
    days on market $265,000 Active 212 DOM
12. 2026-06-03
    days on market $265,000 Active 209 DOM
13. 2026-06-02
    days on market $265,000 Active 208 DOM
14. 2026-06-01
    days on market $265,000 Active 207 DOM
15. 2026-05-31
    days on market $265,000 Active 206 DOM
16. 2026-05-31
    days on market $265,000 Active 205 DOM
17. 2025-11-07
    listed $265,000 Active 1429-char remark

    Show marketing remark (1436 chars)

    **Outstanding Income Opportunity in a Sought-After Catskills Location** Unlock exceptional returns with this well-maintained tri-plex, nestled in the vibrant heart of Delhi, NY—a proven hub for consistent rental demand. Featuring three attractive units, this property delivers reliable, diversified cash flow and stands as a strategic asset for both seasoned and emerging real estate investors. Each residence is thoughtfully designed for comfort and functionality, with spacious living rooms, dedicated dining areas, full kitchens, and private bathrooms. The building offers a versatile mix: a bright two-bedroom apartment at the front, a cozy one-bedroom suite at the rear, and a generously sized three-bedroom unit occupying the entire second floor—ideal for accommodating a range of tenant profiles. Located just steps from the county courthouse, top-rated schools, and a variety of restaurants, this property’s tenants enjoy walkable convenience. Major shopping destinations in Oneonta are only 30 minutes away, further enhancing tenant appeal and occupancy stability. Whether you’re seeking to expand your property portfolio, generate dependable dividend income, or establish a foothold in a high-growth Catskills market, this tri-plex is a rare investment opportunity not to be missed. Secure your position in a thriving rental market—schedule a tour and explore your next smart acquisition today.

18. 2025-11-07
    listed $265,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    **Outstanding Income Opportunity in a Sought-After Catskills Location** Unlock exceptional returns with this well-maintained tri-plex, nestled in the vibrant heart of Delhi, NY—a proven hub for consistent rental demand. Featuring three attractive units, this property delivers reliable, diversified cash flow and stands as a strategic asset for both seasoned and emerging real estate investors. Each residence is thoughtfully designed for comfort and functionality, with spacious living rooms, dedicated dining areas, full kitchens, and private bathrooms. The building offers a versatile mix: a bright two-bedroom apartment at the front, a cozy one-bedroom suite at the rear, and a generously sized three-bedroom unit occupying the entire second floor—ideal for accommodating a range of tenant profiles. Located just steps from the county courthouse, top-rated schools, and a variety of restaurants, this property’s tenants enjoy walkable convenience. Major shopping destinations in Oneonta are only 30 minutes away, further enhancing tenant appeal and occupancy stability. Whether you’re seeking to expand your property portfolio, generate dependable dividend income, or establish a foothold in a high-growth Catskills market, this tri-plex is a rare investment opportunity not to be missed. Secure your position in a thriving rental market—schedule a tour and explore your next smart acquisition today.

19. 2025-11-06
    listed $265,000 Active
20. 2010-04-06
    historical
21. 2007-09-06
    listed $180,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,900
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − Depreciation: −$7,709
• Taxable income: $3,143
• Est. tax owed @ 24.0%: −$754
• After-tax cash flow: $6,420/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This well-maintained tri-plex in Delhi, NY is ready for immediate rental or sale, with minor cosmetic updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics.
• Both Deep cleaning — Improves the home's presentation and cleanliness, attracting more potential tenants or buyers.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property by making it more attractive to potential buyers or tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics. ↑
• Both Deep cleaning — Improves the home's presentation and cleanliness, attracting more potential tenants or buyers. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property by making it more attractive to potential buyers or tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Delaware Academy Central School District At Delhi
• NCES district ID: 3608910
• Math proficiency: 57% ▼ -4.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $49,547
• Composite: 48.55/100
• National rank: #2113
• State rank: #284 of 590 in NY

Livability — Delhi

• Score: 71/100
• State rank: #393
• US rank: #6820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Delhi, NY
• Population (ZIP): 5,629

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4% Asian 2% Black 1%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Tagalog/Filipino 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: ▲ 37.86%
• Current HPI: 328.9252
• 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

+47.2% since first listed

5 events — show timeline

• 2025-11-07 Listed $265,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Listed $265,000 HVCRMLS
• 2025-11-06 Listed $265,000 UNYREIS
• 2010-04-06 Listing Removed — UNYREIS
• 2007-09-06 Listed $180,000 UNYREIS