510 County Highway 10 · Morris, NY 13808

$110,000

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 331 Days on market

Built 1988 0.85 ac lot $93/sqft · 54% below area

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• DSCR +5.3/10.0
• 1% rule +5.2/10.0
• Schools +3.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming Ranch-Style Home on Secluded Acreage – TLC Opportunity with Bonus Income! Nestled in a peaceful, private setting, this one-floor living Ranch-style home offers a rare opportunity for those seeking tranquility, space, and potential. With a bit of tender loving care, this property can truly shine! The main home features a practical, easy-living layout perfect for buyers looking to avoid stairs. Surrounded by mature trees and natural beauty, the property offers a serene, secluded atmosphere—ideal for nature lovers or those seeking a quiet retreat. In addition to the primary residence, a singlewide mobile home is included on the property, providing an excellent source of rental income or flexible space for guests, extended family, or a home office. Bring your vision and creativity to make this hidden gem your own. Whether you're looking to invest, renovate, or simply enjoy the peace and privacy of country living, this property holds exciting potential!

Key facts

• Flexible space
• Quiet retreat
• Secluded acreage

Tags

• SECLUDED ACREAGE
• ONE FLOOR LIVING
• MATURE TREES
• RENTAL INCOME
• FLEXIBLE SPACE
• QUIET RETREAT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $11 ($132/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: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#1,167 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A; Watch: health & safety C-, housing D+, amenities F.
• Gilbertsville-Mount Upton Central School District (rural): math 40% / reading 35% proficiency, ranked #666 of 755 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($761 loan paydown + $2k appreciation (1.9% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 12y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $59k; list at $110k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 331 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.02% ✓
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• GRM: 8.2

CMA / ARV

• ARV (median comp): $240,000
• List price: $110,000
• Delta: -54.17%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
285 Starr Corner Rd	0.68mi	3/2.0	1,120 (-6%)	5mo	$240,000	$214	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.25×
• Total profit: $7,706
• Equity at exit: $42,723

10-year hold

• IRR: 8.4%
• Equity multiple: 2.13×
• Total profit: $34,836
• Equity at exit: $61,016

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 13808

• Home prices YoY: 0.5%
• Active inventory: 14
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$184 /mo · $2,213/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $11

Break-even live

Break-even rent $1,106

Max offer price $110,000

Occupancy floor 94%

Sensitivity live

Price	-10% $73	-5% $42	+0% $11	+5% $-20	+10% $-51
Rent	-10% $-77	-5% $-33	+0% $11	+5% $55	+10% $99
Rate	-1.0pp $66	-0.5pp $39	base $11	+0.5pp $-17	+1.0pp $-46

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 32 events

1. 2026-06-21
   days on market $110,000 Active 331 DOM
2. 2026-06-18
   days on market $110,000 Active 329 DOM
3. 2026-06-17
   days on market $110,000 Active 328 DOM
4. 2026-06-16
   days on market $110,000 Active 327 DOM
5. 2026-06-15
   days on market $110,000 Active 326 DOM
6. 2026-06-13
   days on market $110,000 Active 324 DOM
7. 2026-06-12
   days on market $110,000 Active 323 DOM
8. 2026-06-09
   days on market $110,000 Active 320 DOM
9. 2026-06-08
   days on market $110,000 Active 319 DOM
10. 2026-06-07
    days on market $110,000 Active 318 DOM
11. 2026-06-05
    days on market $110,000 Active 316 DOM
12. 2026-06-04
    days on market $110,000 Active 314 DOM
13. 2026-06-02
    days on market $110,000 Active 313 DOM
14. 2026-06-01
    days on market $110,000 Active 312 DOM
15. 2026-05-31
    days on market $110,000 Active 311 DOM
16. 2025-08-07
    price $110,000 985-char remark

    Show marketing remark (985 chars)

    Charming Ranch-Style Home on Secluded Acreage – TLC Opportunity with Bonus Income! Nestled in a peaceful, private setting, this one-floor living Ranch-style home offers a rare opportunity for those seeking tranquility, space, and potential. With a bit of tender loving care, this property can truly shine! The main home features a practical, easy-living layout perfect for buyers looking to avoid stairs. Surrounded by mature trees and natural beauty, the property offers a serene, secluded atmosphere—ideal for nature lovers or those seeking a quiet retreat. In addition to the primary residence, a singlewide mobile home is included on the property, providing an excellent source of rental income or flexible space for guests, extended family, or a home office. Bring your vision and creativity to make this hidden gem your own. Whether you're looking to invest, renovate, or simply enjoy the peace and privacy of country living, this property holds exciting potential!

17. 2025-07-24
    listed $99,000 Active 985-char remark

    Show marketing remark (985 chars)

    Charming Ranch-Style Home on Secluded Acreage – TLC Opportunity with Bonus Income! Nestled in a peaceful, private setting, this one-floor living Ranch-style home offers a rare opportunity for those seeking tranquility, space, and potential. With a bit of tender loving care, this property can truly shine! The main home features a practical, easy-living layout perfect for buyers looking to avoid stairs. Surrounded by mature trees and natural beauty, the property offers a serene, secluded atmosphere—ideal for nature lovers or those seeking a quiet retreat. In addition to the primary residence, a singlewide mobile home is included on the property, providing an excellent source of rental income or flexible space for guests, extended family, or a home office. Bring your vision and creativity to make this hidden gem your own. Whether you're looking to invest, renovate, or simply enjoy the peace and privacy of country living, this property holds exciting potential!

18. 2021-04-20
    historical
19. 2021-03-08
    listed $81,900
20. 2020-10-21
    historical
21. 2020-08-13
    listed $72,900
22. 2020-01-28
    historical
23. 2019-05-07
    listed $60,000
24. 2018-04-25
    listed $67,900
25. 2017-04-20
    listed $69,900
26. 2016-04-21
    listed $69,900
27. 2016-04-08
    historical
28. 2016-04-08
    listed $69,900
29. 2015-04-18
    listed $69,900
30. 2015-04-16
    historical
31. 2014-11-13
    listed $78,900
32. 2004-03-25
    soldstatus $58,510

ⓘ 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: $2,213 · $184/mo
• Projected year-2 tax: $2,213 · $184/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,436
• − Mortgage interest: −$6,162
• − Property taxes: −$2,213
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$3,200
• Taxable loss: −$1,635
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $525/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: Gilbertsville-Mount Upton Central School District
• NCES district ID: 3604757
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $48,974
• Composite: 34.86/100
• National rank: #10004
• State rank: #666 of 755 in NY

Livability — Morris

• Score: 51/100
• State rank: #1167
• US rank: #25400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,486

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 6%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.89%
• Current HPI: 410.1348
• 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

+88.0% since first listed

17 events — show timeline

• 2025-08-07 Price Changed $110,000 UNYREIS
• 2025-07-24 Listed $99,000 UNYREIS
• 2021-04-20 Listing Removed — UNYREIS
• 2021-03-08 Listed $81,900 UNYREIS
• 2020-10-21 Listing Removed — UNYREIS
• 2020-08-13 Listed $72,900 UNYREIS
• 2020-01-28 Listing Removed — UNYREIS
• 2019-05-07 Listed $60,000 UNYREIS
• 2018-04-25 Listed $67,900 UNYREIS
• 2017-04-20 Listed $69,900 UNYREIS
• 2016-04-21 Listed $69,900 UNYREIS
• 2016-04-08 Listed $69,900 UNYREIS
• 2016-04-08 Listing Removed — UNYREIS
• 2015-04-18 Listed $69,900 UNYREIS
• 2015-04-16 Listing Removed — UNYREIS
• 2014-11-13 Listed $78,900 UNYREIS
• 2004-03-25 Sold (Public Records) $58,510 Public Records

Property tax history

-0.4%/yr

Latest (2025): $2,213 · +4.6% YoY. Source: county tax records.