579 Main St · Cairo, NY 12413

$345,000

24 bd · None ba · 4,866 sqft · MultiFamily public records · 73 Days on market

Built 1968 0.32 ac lot

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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 +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 +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare opportunity to own a fully occupied 4-unit multifamily in the heart of Cairo, offering immediate income. Perfectly positioned along a scenic creek with Catskill Mountain views, this property combines strong cash flow with lifestyle appeal--an ideal formula for long-term investment success. The building features four apartments with bright interiors, generous layouts, and strong tenant appeal. A large elevated deck overlooks the creek, providing a unique outdoor space for two of the 2nd floor apartments. A dedicated off-street parking lot offers added convenience for residents--an increasingly valuable feature that supports long-term occupancy and ease of living. Set within the village,

Key facts

• 0.32 acre lot
• Built 1968
• Listed 73 days

Property features AI

Finance

• Other: Lot approximately 0.32 acres; Zoned residential
• HOA & community: Neighborhood features include street lights and sidewalks

Exterior

• Parking: Off-site parking lot
• Utilities: Public water; Public sewer; Electricity connected (circuit breakers); Phone connected
• Home design: Multi-family property; Two levels; Residential income property; Vinyl siding exterior
• Construction: Built with block and frame construction; Block foundation; Asphalt roof
• Exterior features: Private entrance; Deck; Has a view; Paved road access; Street lights and sidewalks in the neighborhood

Interior

• Flooring: Combination of flooring types; Laminate; Vinyl; Wood
• Heating & cooling: Electric heating; No central cooling
• Interior features: Combination of flooring types; Laminate flooring; Vinyl flooring; Wood flooring
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $525/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $345k).
• Recommended offer: $324k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 2.9% in Cairo — 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 64/100 on livability (#755 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D-, amenities F, commute F.
• Cairo-Durham Central School District (rural): math 41% / reading 48% proficiency, ranked #470 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Greene 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 + 3.0% rent growth), your $97k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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.
• Current owner paid $280k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.71% ✓
• Cap rate: 13.80%
• Cash-on-cash: 26.80%
• DSCR: 2.19
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 44.0%
• Equity multiple: 4.33×
• Total profit: $321,960
• Equity at exit: $310,803

10-year hold

• IRR: 38.1%
• Equity multiple: 9.73×
• Total profit: $843,227
• Equity at exit: $670,259

Cash invested: $96,600 (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 12413

• Active inventory: 62
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $5,892 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$544 /mo · $6,531/yr
• Insurance: −$144
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,237
• Net cashflow: $2,102

Break-even live

Break-even rent $3,231

Max offer price $345,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,892
Total (4 units)			$5,892

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-14
   statusdays on market $345,000 Pending 73 DOM
2. 2026-06-10
   days on market $345,000 Active Under Contract 70 DOM
3. 2026-06-09
   days on market $345,000 Active Under Contract 69 DOM
4. 2026-06-08
   days on market $345,000 Active Under Contract 68 DOM
5. 2026-06-07
   days on market $345,000 Active Under Contract 67 DOM
6. 2026-06-05
   days on market $345,000 Active Under Contract 64 DOM
7. 2026-06-03
   days on market $345,000 Active Under Contract 63 DOM
8. 2026-06-02
   days on market $345,000 Active Under Contract 62 DOM
9. 2026-06-01
   days on market $345,000 Active Under Contract 61 DOM
10. 2026-05-31
    days on market $345,000 Active Under Contract 60 DOM
11. 2026-05-31
    days on market $345,000 Active Under Contract 59 DOM
12. 2026-04-13
    historical Active Under Contract
13. 2026-03-31
    listed $345,000 Active
14. 2022-06-13
    soldstatus $280,000
15. 2021-08-25
    listed $299,000
16. 2020-08-22
    listed $335,000
17. 2018-10-05
    soldstatus $215,000
18. 2018-10-04
    soldstatus $215,000
19. 2017-07-10
    listed $225,000
20. 2017-07-10
    listed $225,000
21. 2004-04-15
    soldstatus $90,400

ⓘ 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: $6,531 · $544/mo
• Projected year-2 tax: $6,531 · $544/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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,704
• − Mortgage interest: −$19,325
• − Property taxes: −$6,531
• − Insurance: −$2,392
• − Repairs & maintenance: −$5,656
• − Management: −$5,656
• − Depreciation: −$10,036
• Taxable income: $21,107
• Est. tax owed @ 24.0%: −$5,066
• After-tax cash flow: $20,157/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: Cairo-Durham Central School District
• NCES district ID: 3606160
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 48% ▲ 8.00%
• Median HH income: $46,192
• Composite: 37.84/100
• National rank: #4330
• State rank: #470 of 590 in NY

Livability — Cairo

• Score: 64/100
• State rank: #755
• US rank: #14433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cairo, NY
• City population: 3,406
• Population (ZIP): 3,406

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 4% Romanian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 2%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 140.58%
• Current HPI: 406.4299
• 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

+281.6% since first listed

10 events — show timeline

• 2026-04-13 Contingent — HVCRMLS
• 2026-03-31 Listed $345,000 HVCRMLS
• 2022-06-13 Sold (Public Records) $280,000 Public Records
• 2021-08-25 Listed $299,000 HVCRMLS
• 2020-08-22 Listed $335,000 HVCRMLS
• 2018-10-05 Sold (Public Records) $215,000 Public Records
• 2018-10-04 Sold (MLS) $215,000 HVCRMLS
• 2017-07-10 Listed $225,000 HVCRMLS
• 2017-07-10 Listed $225,000 HVCRMLS
• 2004-04-15 Sold (Public Records) $90,400 Public Records

Property tax history

+7.5%/yr

Latest (2025): $6,531 · +4.1% YoY. Source: county tax records.