6328 New York 10 · Sharon Springs, NY 13459

$229,000

3 bd · 1.0 ba · 1,920 sqft · SingleFamily · 194 Days on market

Built 1800 17 ac lot $119/sqft · 16% below area Est $272k · 16% under ↓ 14% since listing

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Why this score? — see what drove the D 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).

• ARV discount +14.6/15.0
• Appreciation +10.0/10.0
• Cash flow +5.9/30.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0

Listing remarks MLS

Step back in time with this remarkable 1800s farmhouse set on 17.4 acres of beautiful, private farmland. Rich with history and character, this property is filled with original charm and awaits your vision for restoration. Furnishings are included, making it even easier to bring this timeless home back to life. The estate features a classic carriage house with a summer kitchen and an impressive post-and-beam barn with a 2021 50-year Owens Corning shingle roof. The land is ideal for horses, cattle, crops, or even a future vineyard and offers exceptional seclusion and potential. Includes small Apple Orchard and land has had successful crops including corn over the past three years. With over 17 acres, additional development opportunities may be possible, including a cellular tower site, solar farm, or residential subdivision (pending all necessary approvals). Whether you dream of revitalizing the existing farmhouse or creating something entirely new, this property provides a rare canvas for your vision. Only minutes from town including Walmart distribution center, SUNY Cobleskill, and I-88. Come explore the possibilities and bring your imagination! CASH BUYERS ONLY. Property sold AS-IS - NOTE: not all furnishings in pictures may be available at time of sale. Serious inquiries only! No heat/ hot water.

Key facts

• Private farmland
• Post-and-beam barn
• 17.4 acres

Tags

• 1800S FARMHOUSE
• 17.4 ACRES
• PRIVATE FARMLAND
• CLASSIC CARRIAGE HOUSE
• SUMMER KITCHEN
• POST-AND-BEAM BARN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-444 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (28.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (37.1% below list).
• Recommended offer: $144k (37.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#945 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: health & safety C-, crime F, amenities F.
• Cobleskill-Richmondville Central School District (town): math 53% / reading 52% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George D Ryder Elementary School (378 students, 44% FRL); William H Golding Middle School (math 36% / reading 47%, grade F, #394 of 729 statewide, top 55%, 345 students, 48% FRL); Cobleskill-Richmondville High School (math 98% / reading 70%, grade A, #409 of 1,100 statewide, top 39%, 474 students, 48% FRL).
• Market conditions: 19 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,137 (37.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1800 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.63% ✗
• Cap rate: 3.97%
• Cash-on-cash: -8.31%
• DSCR: 0.63
• GRM: 13.2

CMA / ARV

• ARV (median comp): $271,658
• List price: $229,000
• Delta: -15.70%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.4%
• Equity multiple: 2.50×
• Total profit: $96,470
• Equity at exit: $206,301

10-year hold

• IRR: 17.2%
• Equity multiple: 5.78×
• Total profit: $306,364
• Equity at exit: $444,897

Cash invested: $64,120 (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 13459

• Home prices YoY: 3.2%
• Active inventory: 19
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,441 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-444

Break-even live

Break-even rent $2,003

Max offer price $164,769

Occupancy floor —

Sensitivity live

Price	-10% $-286	-5% $-365	+0% $-444	+5% $-523	+10% $-602
Rent	-10% $-558	-5% $-501	+0% $-444	+5% $-387	+10% $-330
Rate	-1.0pp $-329	-0.5pp $-386	base $-444	+0.5pp $-503	+1.0pp $-564

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   days on market $229,000 Active 194 DOM
2. 2026-06-09
   days on market $229,000 Active 191 DOM
3. 2026-06-08
   days on market $229,000 Active 190 DOM
4. 2026-06-07
   days on market $229,000 Active 189 DOM
5. 2026-06-07
   pricedays on market $229,000 Active 188 DOM
6. 2026-06-04
   days on market $299,000 Active 185 DOM
7. 2026-06-02
   days on market $299,000 Active 184 DOM
8. 2026-06-01
   days on market $299,000 Active 183 DOM
9. 2026-05-31
   days on market $299,000 Active 182 DOM
10. 2025-12-08
    price $299,000 1321-char remark

    Show marketing remark (1321 chars)

    Step back in time with this remarkable 1800s farmhouse set on 17.4 acres of beautiful, private farmland. Rich with history and character, this property is filled with original charm and awaits your vision for restoration. Furnishings are included, making it even easier to bring this timeless home back to life. The estate features a classic carriage house with a summer kitchen and an impressive post-and-beam barn with a 2021 50-year Owens Corning shingle roof. The land is ideal for horses, cattle, crops, or even a future vineyard and offers exceptional seclusion and potential. Includes small Apple Orchard and land has had successful crops including corn over the past three years. With over 17 acres, additional development opportunities may be possible, including a cellular tower site, solar farm, or residential subdivision (pending all necessary approvals). Whether you dream of revitalizing the existing farmhouse or creating something entirely new, this property provides a rare canvas for your vision. Only minutes from town including Walmart distribution center, SUNY Cobleskill, and I-88. Come explore the possibilities and bring your imagination! CASH BUYERS ONLY. Property sold AS-IS - NOTE: not all furnishings in pictures may be available at time of sale. Serious inquiries only! No heat/ hot water.

11. 2025-11-30
    listed $349,000 Active 1321-char remark

    Show marketing remark (1321 chars)

    Step back in time with this remarkable 1800s farmhouse set on 17.4 acres of beautiful, private farmland. Rich with history and character, this property is filled with original charm and awaits your vision for restoration. Furnishings are included, making it even easier to bring this timeless home back to life. The estate features a classic carriage house with a summer kitchen and an impressive post-and-beam barn with a 2021 50-year Owens Corning shingle roof. The land is ideal for horses, cattle, crops, or even a future vineyard and offers exceptional seclusion and potential. Includes small Apple Orchard and land has had successful crops including corn over the past three years. With over 17 acres, additional development opportunities may be possible, including a cellular tower site, solar farm, or residential subdivision (pending all necessary approvals). Whether you dream of revitalizing the existing farmhouse or creating something entirely new, this property provides a rare canvas for your vision. Only minutes from town including Walmart distribution center, SUNY Cobleskill, and I-88. Come explore the possibilities and bring your imagination! CASH BUYERS ONLY. Property sold AS-IS - NOTE: not all furnishings in pictures may be available at time of sale. Serious inquiries only! No heat/ hot water.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $17,296
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$6,662
• Taxable loss: −$9,540
• Est. tax savings @ 24.0%: +$2,290
• After-tax cash flow: $-3,037/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: Cobleskill-Richmondville Central School District
• NCES district ID: 3600010
• Math proficiency: 53% ▲ 2.00%
• Reading proficiency: 52% ▲ 10.00%
• Median HH income: $49,555
• Composite: 44.83/100
• National rank: #2734
• State rank: #336 of 590 in NY

Livability — Sharon Springs

• Score: 61/100
• State rank: #945
• US rank: #18381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,034

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 4%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.37%
• Current HPI: 362.6872
• 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

-14.3% since first listed

2 events — show timeline

• 2025-12-08 Price Changed $299,000 ForSaleByOwner.com
• 2025-11-30 Listed $349,000 ForSaleByOwner.com