15114 State Highway 206 · Walton, NY 13856

$349,000

3 bd · 2.0 ba · 3,072 sqft · SingleFamily public records · 31 Days on market

Built 1975 3.93 ac lot ↓ 8% 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).

• Cash flow +11.3/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully updated and spacious Colonial just on the outskirt of the Village of Walton, NY. FRESHLY PAINTED exterior with upgrades overlooking the mountains on nearly 4 acres, this 4-bedroom, 2.5-bath home with attached oversized 2 car garage offers over 3000 square feet of spacious living. Built in 1975 and renovated in 2015 this well-maintained home has had only two owners. Enter into the main floor where you will find a thoughtfully designed kitchen with Corian countertops, a 9 foot center island with seating, custom cabinet lighting, a large pantry, and an eat-in nook big enough for a full dining room table with a tiled floor. Off of the kitchen is a 1/2 bath and spacio

Key facts

• Corian countertops
• Updated colonial
• Nearly 4 acres

Tags

• UPDATED COLONIAL
• FRESHLY PAINTED EXTERIOR
• OVERLOOKING THE MOUNTAINS
• NEARLY 4 ACRES
• THOUGHTFULLY DESIGNED KITCHEN
• CORIAN COUNTERTOPS

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: High-speed internet available; Septic tank; Well water
• Home design: 2 stories; Existing construction; Resale property
• Construction: Block foundation; Block and concrete construction
• Exterior features: Gravel driveway; Propane tank (leased); Covered porch

Interior

• Kitchen: Electric cooktop; Electric oven; Electric range; Microwave; Refrigerator; Kitchen island; Eat-in kitchen
• Flooring: Hardwood; Varies
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Propane heating; Baseboard heating; Hot water heating; Has heating
• Interior features: Ceiling fan(s); Den; Eat-in kitchen; Separate/formal living room; Kitchen island; See remarks
• Laundry & utility: Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $327k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (17.8% below list).
• Recommended offer: $287k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 7.8% in Walton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 70/100 on livability (#443 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Walton Central School District (town): math 36% / reading 47% proficiency, ranked #510 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Townsend Elementary School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 367 students, 47% FRL); Walton Middle School (math 17% / reading 42%, grade F, #550 of 729 statewide, top 77%, 189 students, 54% FRL); Walton High School (math 84% / reading 90%, grade A, #308 of 1,100 statewide, top 28%, 283 students, 50% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 56 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 $23k of equity ($2k loan paydown + $20k appreciation (5.8% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $286,983 (17.8% 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 31 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.55%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.91×
• Total profit: $88,493
• Equity at exit: $214,870

10-year hold

• IRR: 14.1%
• Equity multiple: 3.74×
• Total profit: $267,836
• Equity at exit: $385,808

Cash invested: $97,720 (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 13856

• Home prices YoY: 1.8%
• Active inventory: 56
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,870 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$418 /mo · $5,015/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-126

Break-even live

Break-even rent $3,030

Max offer price $326,677

Occupancy floor 99%

Sensitivity live

Price	-10% $71	-5% $-28	+0% $-126	+5% $-225	+10% $-324
Rent	-10% $-353	-5% $-240	+0% $-126	+5% $-13	+10% $100
Rate	-1.0pp $49	-0.5pp $-38	base $-126	+0.5pp $-217	+1.0pp $-309

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $349,000 Active 31 DOM
2. 2026-06-21
   days on market $349,000 Active 30 DOM
3. 2026-06-18
   days on market $349,000 Active 28 DOM
4. 2026-06-17
   days on market $349,000 Active 27 DOM
5. 2026-06-16
   days on market $349,000 Active 26 DOM
6. 2026-06-15
   days on market $349,000 Active 25 DOM
7. 2026-06-13
   days on market $349,000 Active 23 DOM
8. 2026-06-12
   days on market $349,000 Active 22 DOM
9. 2026-06-09
   days on market $349,000 Active 19 DOM
10. 2026-06-08
    days on market $349,000 Active 18 DOM
11. 2026-06-07
    days on market $349,000 Active 17 DOM
12. 2026-06-07
    days on market $349,000 Active 16 DOM
13. 2026-06-04
    days on market $349,000 Active 13 DOM
14. 2026-06-02
    days on market $349,000 Active 12 DOM
15. 2026-06-01
    days on market $349,000 Active 11 DOM
16. 2026-05-31
    days on market $349,000 Active 10 DOM
17. 2026-05-21
    listed $349,000 Active
18. 2025-10-31
    historical
19. 2025-07-30
    listed $369,000 Active
20. 2025-06-15
    historical
21. 2025-05-18
    listed $379,000 Active

ⓘ 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: $5,015 · $418/mo
• Projected year-2 tax: $5,457 · $455/mo
• Expected delta: +$442/yr (+$37/mo · 8.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $34,438
• − Mortgage interest: −$19,549
• − Property taxes: −$5,015
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,755
• − Management: −$2,755
• − Depreciation: −$10,153
• Taxable loss: −$7,534
• Est. tax savings @ 24.0%: +$1,808
• After-tax cash flow: $292/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: Walton Central School District
• NCES district ID: 3629820
• Math proficiency: 36% ▬ 0.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $41,231
• Composite: 34.86/100
• National rank: #5088
• State rank: #510 of 590 in NY

Livability — Walton

• Score: 70/100
• State rank: #443
• US rank: #7789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,915

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 (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Iranian 7% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 5.79%
• Current HPI: 331.9799
• 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

-7.9% since first listed

5 events — show timeline

• 2026-05-21 Listed $349,000 UNYREIS
• 2025-10-31 Listing Removed — UNYREIS
• 2025-07-30 Listed $369,000 UNYREIS
• 2025-06-15 Listing Removed — UNYREIS
• 2025-05-18 Listed $379,000 UNYREIS

Property tax history

+1.8%/yr

Latest (2025): $5,015 · +7.8% YoY. Source: county tax records.