7383 State Highway 28 · Schuyler Lake, NY 13457

$149,900

5 bd · 2.0 ba · 1,946 sqft · SingleFamily · 62 Days on market

Built 1900 Good condition 0.27 ac lot $77/sqft · 13% below area Est $172k · 13% 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 +15.5/30.0
• ARV discount +13.2/15.0
• Appreciation +5.0/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

This move in ready home is awaiting its new owners. This home has 5 bedrooms, 2 full baths, large living space that can be divided by beautiful French doors, eat-in kitchen with new stainless-steel appliances and ample natural light. This home is nestled in the small town of Exeter and is just moments away from Lake Canadarago . Spend the day at Bakers Beach or go fishing off the boat launch pier, enjoy lake life without the lake front price tag ! Are you a baseball fan or a fan of the Opera? Cooperstown is just a short drive away! This house is perfect as a full-time residence or for an investor looking to expand their portfolio.

Key facts

• Ample natural light
• Large living space
• Eat-in kitchen

Tags

• LARGE LIVING SPACE
• BEAUTIFUL FRENCH DOORS
• EAT-IN KITCHEN
• NEW STAINLESS-STEEL APPLIANCES
• AMPLE NATURAL LIGHT
• SHORT DRIVE TO COOPERSTOWN

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $60 ($723/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.4% below list).
• Recommended offer: $139k (7.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Richfield Springs Central School District (rural): math 47% / reading 43% proficiency, ranked #575 of 755 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 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 $6k of equity ($1k loan paydown + $4k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, 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 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,753 (7.4% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $171,852
• List price: $149,900
• Delta: -12.77%
• 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
7401 State Highway 28	0.09mi	5/2.0	2,232 (+15%)	5mo	$58,000	$26	68

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

Projected returns pro-forma

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

5-year hold

• IRR: 9.1%
• Equity multiple: 1.52×
• Total profit: $21,914
• Equity at exit: $67,402

10-year hold

• IRR: 11.6%
• Equity multiple: 2.73×
• Total profit: $72,689
• Equity at exit: $103,874

Cash invested: $41,972 (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 13457

• Active inventory: 2
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,388 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $60

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 91%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $149,900 Active 62 DOM
2. 2026-06-17
   days on market $149,900 Active 61 DOM
3. 2026-06-16
   days on market $149,900 Active 60 DOM
4. 2026-06-15
   days on market $149,900 Active 59 DOM
5. 2026-06-13
   days on market $149,900 Active 57 DOM
6. 2026-06-12
   days on market $149,900 Active 56 DOM
7. 2026-06-09
   days on market $149,900 Active 53 DOM
8. 2026-06-08
   days on market $149,900 Active 52 DOM
9. 2026-06-07
   days on market $149,900 Active 51 DOM
10. 2026-06-07
    statusdays on market $149,900 Active 50 DOM
11. 2026-06-04
    days on market $149,900 Active Under Contract 47 DOM
12. 2026-06-02
    days on market $149,900 Active Under Contract 46 DOM
13. 2026-06-01
    days on market $149,900 Active Under Contract 45 DOM
14. 2026-05-31
    days on market $149,900 Active Under Contract 44 DOM
15. 2026-05-03
    historical Active Under Contract 638-char remark

    Show marketing remark (638 chars)

    This move in ready home is awaiting its new owners. This home has 5 bedrooms, 2 full baths, large living space that can be divided by beautiful French doors, eat-in kitchen with new stainless-steel appliances and ample natural light. This home is nestled in the small town of Exeter and is just moments away from Lake Canadarago . Spend the day at Bakers Beach or go fishing off the boat launch pier, enjoy lake life without the lake front price tag ! Are you a baseball fan or a fan of the Opera? Cooperstown is just a short drive away! This house is perfect as a full-time residence or for an investor looking to expand their portfolio.

16. 2026-04-17
    listed $149,900 Active 638-char remark

    Show marketing remark (638 chars)

    This move in ready home is awaiting its new owners. This home has 5 bedrooms, 2 full baths, large living space that can be divided by beautiful French doors, eat-in kitchen with new stainless-steel appliances and ample natural light. This home is nestled in the small town of Exeter and is just moments away from Lake Canadarago . Spend the day at Bakers Beach or go fishing off the boat launch pier, enjoy lake life without the lake front price tag ! Are you a baseball fan or a fan of the Opera? Cooperstown is just a short drive away! This house is perfect as a full-time residence or for an investor looking to expand their portfolio.

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,650
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$4,361
• Taxable loss: −$1,769
• Est. tax savings @ 24.0%: +$425
• After-tax cash flow: $1,147/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 · 2 photos

Good 75/100 Cosmetic rehab

This move-in ready home is in good condition with new appliances and a well-maintained exterior. It offers a good investment opportunity with potential for minor updates to enhance its curb appeal and resale value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Resale Interior updates (paint, minor repairs) — Improves the home's appearance and appeal to potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Resale Interior updates (paint, minor repairs) — Improves the home's appearance and appeal to potential buyers. ↑

ⓘ 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: Richfield Springs Central School District
• NCES district ID: 3624570
• Math proficiency: 47% ▲ 2.00%
• Reading proficiency: 43% ▲ 3.00%
• Median HH income: $44,046
• Composite: 40.3/100
• National rank: #7785
• State rank: #575 of 755 in NY

Livability — Schuyler Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Schuyler Lake, NY
• City population: 38
• Population (ZIP): 38

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 21% Hungarian 5%

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: —
• Current HPI: —
• 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

• 2026-05-03 Contingent — UNYREIS
• 2026-04-17 Listed $149,900 UNYREIS