115 N Washington St · Athens, NY 12015

$214,800

5 bd · 2.5 ba · 2,628 sqft · MultiFamily public records · 124 Days on market

Built 1900 8,276 sqft lot $82/sqft · 55% below area ↓ 6% since listing

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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 +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Discover this spacious side-by-side duplex in the charming Village of Athens, NY offering excellent value in today's market. Ideal for owner-occupants: Live comfortably in one unit while offsetting (or nearly eliminating) your mortgage by renting out the other side — turning homeownership into a smart financial move. For investors: Rent both units for strong monthly cash flow and solid returns. With a little cosmetic updating and aesthetic enhancements, you can unlock significant equity and modern appeal. Highlights include: Beautiful hardwood floors throughout both units Generously sized primary bedrooms Practical, convenient layouts with great flow Detached garage in the rear — perfect for secure parking, extra storage, or a workshop Don't miss this rare opportunity in a desirable village location. Schedule your private showing today and see the potential for yourself!

Key facts

• Side-by-side duplex
• Hardwood floors
• Detached garage

Tags

• SIDE-BY-SIDE DUPLEX
• HARDWOOD FLOORS
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#785 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools F, amenities F, commute F.
• Coxsackie-Athens Central School District (town): math 43% / reading 56% proficiency, ranked #384 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 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 $14k of equity ($1k loan paydown + $13k appreciation (5.9% 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 (5.9% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,024 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 F-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: 2.57% ✓
• Cap rate: 20.60%
• Cash-on-cash: 51.11%
• DSCR: 3.27
• GRM: 3.2

CMA / ARV

• ARV (median comp): $479,185
• List price: $214,800
• Delta: -55.17%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 - 21 S Franklin St	0.52mi	6/3.0 (+1)	2,848 (+8%)	7mo	$300,000	$105	49

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

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.8%
• Equity multiple: 4.73×
• Total profit: $224,485
• Equity at exit: $134,011

10-year hold

• IRR: 56.7%
• Equity multiple: 9.87×
• Total profit: $533,371
• Equity at exit: $242,145

Cash invested: $60,144 (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 12015

• Home prices YoY: 1.4%
• Active inventory: 91
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $5,523 high
• Mortgage (P&I): −$1,126
• Tax from tax record: −$586 /mo · $7,028/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,160
• Net cashflow: $2,562

Break-even live

Break-even rent $2,280

Max offer price $214,800

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$5,522
Total (2 units)			$5,523

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: $53,700
• Closing costs: $6,444
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $214,800 Active 124 DOM
2. 2026-06-17
   days on market $214,800 Active 123 DOM
3. 2026-06-16
   days on market $214,800 Active 122 DOM
4. 2026-06-15
   days on market $214,800 Active 121 DOM
5. 2026-06-14
   days on market $214,800 Active 119 DOM
6. 2026-06-13
   pricedays on market $214,800 Active 118 DOM
7. 2026-06-10
   days on market $234,000 Active 116 DOM
8. 2026-06-09
   days on market $234,000 Active 115 DOM
9. 2026-06-08
   days on market $234,000 Active 114 DOM
10. 2026-06-07
    days on market $234,000 Active 113 DOM
11. 2026-06-05
    days on market $234,000 Active 110 DOM
12. 2026-06-03
    days on market $234,000 Active 109 DOM
13. 2026-06-02
    days on market $234,000 Active 108 DOM
14. 2026-06-01
    days on market $234,000 Active 107 DOM
15. 2026-05-31
    days on market $234,000 Active 106 DOM
16. 2026-05-31
    days on market $234,000 Active 105 DOM
17. 2026-02-20
    price $234,000 913-char remark

    Show marketing remark (913 chars)

    Discover this spacious side-by-side duplex in the charming Village of Athens, NY offering excellent value in today's market. Ideal for owner-occupants: Live comfortably in one unit while offsetting (or nearly eliminating) your mortgage by renting out the other side — turning homeownership into a smart financial move. For investors: Rent both units for strong monthly cash flow and solid returns. With a little cosmetic updating and aesthetic enhancements, you can unlock significant equity and modern appeal. Highlights include: Beautiful hardwood floors throughout both units Generously sized primary bedrooms Practical, convenient layouts with great flow Detached garage in the rear — perfect for secure parking, extra storage, or a workshop Don't miss this rare opportunity in a desirable village location. Schedule your private showing today and see the potential for yourself!

18. 2026-02-13
    listed $250,000 Active 913-char remark

    Show marketing remark (913 chars)

    Discover this spacious side-by-side duplex in the charming Village of Athens, NY offering excellent value in today's market. Ideal for owner-occupants: Live comfortably in one unit while offsetting (or nearly eliminating) your mortgage by renting out the other side — turning homeownership into a smart financial move. For investors: Rent both units for strong monthly cash flow and solid returns. With a little cosmetic updating and aesthetic enhancements, you can unlock significant equity and modern appeal. Highlights include: Beautiful hardwood floors throughout both units Generously sized primary bedrooms Practical, convenient layouts with great flow Detached garage in the rear — perfect for secure parking, extra storage, or a workshop Don't miss this rare opportunity in a desirable village location. Schedule your private showing today and see the potential for yourself!

ⓘ 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: $7,028 · $586/mo
• Projected year-2 tax: $7,028 · $586/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $66,276
• − Mortgage interest: −$12,032
• − Property taxes: −$7,028
• − Insurance: −$1,074
• − Repairs & maintenance: −$5,302
• − Management: −$5,302
• − Depreciation: −$6,249
• Taxable income: $29,289
• Est. tax owed @ 24.0%: −$7,029
• After-tax cash flow: $23,710/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: Coxsackie-Athens Central School District
• NCES district ID: 3608490
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 56% ▲ 19.00%
• Median HH income: $55,006
• Composite: 42.8/100
• National rank: #3143
• State rank: #384 of 590 in NY

Livability — Athens

• Score: 63/100
• State rank: #785
• US rank: #15102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, NY
• Population (ZIP): 4,084

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 4% Dominican 2%
• Common ancestry: Romanian 3% Iranian 3% Scotch-Irish 2%
• Foreign-born: 11% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Russian/Polish/Slavic 5% Other Indo-European 2% Spanish 1%

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: ▲ 5.93%
• Current HPI: 426.3034
• 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

-6.4% since first listed

2 events — show timeline

• 2026-02-20 Price Changed $234,000 Global MLS
• 2026-02-13 Listed $250,000 Global MLS

Property tax history

+12.0%/yr

Latest (2025): $7,028 · +3.3% YoY. Source: county tax records.