156 Main St · Worcester, NY 12197

$99,000

1 bd · 2.0 ba · 1,750 sqft · SingleFamily · 101 Days on market

Built 1890 Fair condition 5,227 sqft lot $57/sqft · 8% below area Est $108k · 8% under

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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 +21.0/30.0
• ARV discount +11.2/15.0
• DSCR +6.7/10.0
• Appreciation +5.9/10.0
• 1% rule +5.5/10.0
• Schools +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Mixed-use Main Street building featuring retail space on the first floor and a second-floor apartment with separate exterior entrance. The second-floor apartment offers a spacious layout including a living room, eat-in kitchen, two bedrooms, and one full bathroom. Rooms connect in a functional layout with natural light throughout, and hardwood flooring is present in portions of the apartment. The apartment has its own exterior entrance and back deck access overlooking the wooded backyard. The street-level commercial space offers large display windows and an open showroom that flows into additional work and storage rooms toward the rear. A half bathroom is located on the main level. The full basement is partially finished and includes two potential livable areas and an additional half bath, though it requires significant renovation. Basement access is available through the storefront interior and from the rear deck. A multi-level rear deck provides access to the basement, storefront, and second-floor apartment. The backyard is narrow but deep and borders Worcester Heritage Park, offering a unique in-town setting. Located within the Worcester business district with visibility along Main Street. Approximately 20 minutes to Oneonta and 25 minutes to Cooperstown. This property offers flexibility for a business owner to operate downstairs while living upstairs, for an investor to rent one or both spaces, or for conversion to multiple residential units if desired. Being sold as-is and requiring renovation and updating, it presents an opportunity to restore and add value in a visible in-town location with easy access to I-88.

Key facts

• Spacious layout
• 5,227 sq ft lot
• Built 1890

Tags

• MIXED-USE MAIN STREET BUILDING
• RETAIL SPACE ON FIRST FLOOR
• SECOND-FLOOR APARTMENT
• SEPARATE EXTERIOR ENTRANCE
• SPACIOUS LAYOUT
• NATURAL LIGHT THROUGHOUT

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,037 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: health & safety C-, schools D-, crime F.
• Worcester Central School District (rural): math 40% / reading 40% proficiency, ranked #642 of 755 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 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 ($684 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1890 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $107,900
• List price: $99,000
• Delta: -8.25%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

1.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.55×
• Total profit: $15,133
• Equity at exit: $38,409

10-year hold

• IRR: 13.3%
• Equity multiple: 2.76×
• Total profit: $48,871
• Equity at exit: $54,822

Cash invested: $27,720 (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 12197

• Home prices YoY: 0.6%
• Active inventory: 24
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,044 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $140

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 82%

Sensitivity live

Price	-10% $209	-5% $174	+0% $140	+5% $106	+10% $72
Rent	-10% $58	-5% $99	+0% $140	+5% $181	+10% $223
Rate	-1.0pp $190	-0.5pp $165	base $140	+0.5pp $115	+1.0pp $88

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $99,000 Active 101 DOM
2. 2026-06-21
   days on market $99,000 Active 100 DOM
3. 2026-06-18
   days on market $99,000 Active 98 DOM
4. 2026-06-17
   days on market $99,000 Active 97 DOM
5. 2026-06-16
   days on market $99,000 Active 96 DOM
6. 2026-06-15
   days on market $99,000 Active 95 DOM
7. 2026-06-13
   days on market $99,000 Active 93 DOM
8. 2026-06-12
   days on market $99,000 Active 92 DOM
9. 2026-06-09
   days on market $99,000 Active 89 DOM
10. 2026-06-08
    days on market $99,000 Active 88 DOM
11. 2026-06-07
    days on market $99,000 Active 87 DOM
12. 2026-06-07
    days on market $99,000 Active 86 DOM
13. 2026-06-04
    days on market $99,000 Active 83 DOM
14. 2026-06-02
    days on market $99,000 Active 82 DOM
15. 2026-06-01
    days on market $99,000 Active 81 DOM
16. 2026-05-31
    days on market $99,000 Active 80 DOM
17. 2026-05-13
    status Pending 1645-char remark

    Show marketing remark (1645 chars)

    Mixed-use Main Street building featuring retail space on the first floor and a second-floor apartment with separate exterior entrance. The second-floor apartment offers a spacious layout including a living room, eat-in kitchen, two bedrooms, and one full bathroom. Rooms connect in a functional layout with natural light throughout, and hardwood flooring is present in portions of the apartment. The apartment has its own exterior entrance and back deck access overlooking the wooded backyard. The street-level commercial space offers large display windows and an open showroom that flows into additional work and storage rooms toward the rear. A half bathroom is located on the main level. The full basement is partially finished and includes two potential livable areas and an additional half bath, though it requires significant renovation. Basement access is available through the storefront interior and from the rear deck. A multi-level rear deck provides access to the basement, storefront, and second-floor apartment. The backyard is narrow but deep and borders Worcester Heritage Park, offering a unique in-town setting. Located within the Worcester business district with visibility along Main Street. Approximately 20 minutes to Oneonta and 25 minutes to Cooperstown. This property offers flexibility for a business owner to operate downstairs while living upstairs, for an investor to rent one or both spaces, or for conversion to multiple residential units if desired. Being sold as-is and requiring renovation and updating, it presents an opportunity to restore and add value in a visible in-town location with easy access to I-88.

18. 2026-03-03
    listed $127,000 Active 1645-char remark

    Show marketing remark (1645 chars)

    Mixed-use Main Street building featuring retail space on the first floor and a second-floor apartment with separate exterior entrance. The second-floor apartment offers a spacious layout including a living room, eat-in kitchen, two bedrooms, and one full bathroom. Rooms connect in a functional layout with natural light throughout, and hardwood flooring is present in portions of the apartment. The apartment has its own exterior entrance and back deck access overlooking the wooded backyard. The street-level commercial space offers large display windows and an open showroom that flows into additional work and storage rooms toward the rear. A half bathroom is located on the main level. The full basement is partially finished and includes two potential livable areas and an additional half bath, though it requires significant renovation. Basement access is available through the storefront interior and from the rear deck. A multi-level rear deck provides access to the basement, storefront, and second-floor apartment. The backyard is narrow but deep and borders Worcester Heritage Park, offering a unique in-town setting. Located within the Worcester business district with visibility along Main Street. Approximately 20 minutes to Oneonta and 25 minutes to Cooperstown. This property offers flexibility for a business owner to operate downstairs while living upstairs, for an investor to rent one or both spaces, or for conversion to multiple residential units if desired. Being sold as-is and requiring renovation and updating, it presents an opportunity to restore and add value in a visible in-town location with easy access to I-88.

ⓘ 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: $12,522
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$2,880
• Taxable income: $113
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $1,655/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 · 1 photo

Fair 45/100 Moderate rehab

The property requires significant exterior repairs and maintenance, including painting, siding replacement, and window repair. Upgrading the HVAC system and improving the landscaping would significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Siding appears weathered and peeling.
• Major Roof — No visible roof condition, but based on exterior siding, likely in poor condition.
• Major Windows — No visible window condition, but based on exterior siding, likely in poor condition.
• Major HVAC/mechanical — No visible HVAC/mechanical condition, but based on exterior siding, likely in poor condition.
• Major Landscaping — No visible landscaping, but based on exterior siding, likely in poor condition.

Value-add opportunities

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal and home value.
• Resale Replace exterior siding — New siding can enhance the home's appearance and increase its value.
• Resale Repair/replace windows — New windows can improve energy efficiency and home value.
• Both Upgrade HVAC system — A modern HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value.
• Resale Improve landscaping — A well-maintained yard can enhance curb appeal and home value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Siding appears weathered and peeling.	Major	$15,000–50,000
Roof · No visible roof condition, but based on exterior siding, likely in poor condition.	Major	$15,000–50,000
Windows · No visible window condition, but based on exterior siding, likely in poor condition.	Major	$15,000–50,000
HVAC/mechanical · No visible HVAC/mechanical condition, but based on exterior siding, likely in poor condition.	Major	$15,000–50,000
Landscaping · No visible landscaping, but based on exterior siding, likely in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Paint exterior walls — Fresh paint can significantly improve curb appeal and home value. ↑
• Resale Replace exterior siding — New siding can enhance the home's appearance and increase its value. ↑
• Resale Repair/replace windows — New windows can improve energy efficiency and home value. ↑
• Both Upgrade HVAC system — A modern HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Resale Improve landscaping — A well-maintained yard can enhance curb appeal and home value. ↑

ⓘ 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: Worcester Central School District
• NCES district ID: 3631740
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $45,846
• Composite: 36.52/100
• National rank: #9306
• State rank: #642 of 755 in NY

Livability — Worcester

• Score: 59/100
• State rank: #1037
• US rank: #20500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Worcester, NY
• City population: 2,275
• Population (ZIP): 2,275

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Italian 4% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▲ 1.88%
• Current HPI: 341.3108
• 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

2 events — show timeline

• 2026-05-13 Pending — UNYREIS
• 2026-03-03 Listed $127,000 UNYREIS