357 State Highway 67 · Palatine Bridge, NY 12095

$14,900

2 bd · 1.0 ba · 720 sqft · Manufactured · 210 Days on market

Manufactured home Built 1975 0.38 ac lot ↓ 40% since listing

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

Listing remarks

Single wide mobile home on . 38 acres. 8 miles west of Johnstown and 10 miles north of Canajoharie. Very near the Ephrata Rod and Gun Club. House and property are being sold as is. There is no well on the property. Prior owners shared a well with a neighbor that is no longer hooked up.

Key facts

• 0.38 acre lot
• 3 parking spots
• Built 1975

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $15k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#663 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Johnstown City School District (town): math 35% / reading 47% proficiency, ranked #509 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Johnstown Junior-Senior High School (math 45% / reading 49%, grade D-, #1,007 of 1,100 statewide, top 93%, 675 students, 51% FRL) — zoned schools average 51% FRL vs 34% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 83 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($103 loan paydown + $1k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $5k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $13,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. 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?
6. 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?
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: 6.38% ✓
• Cap rate: 58.47%
• Cash-on-cash: 186.33%
• DSCR: 9.29
• GRM: 1.3

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: —
• Equity multiple: 12.84×
• Total profit: $49,389
• Equity at exit: $13,423

10-year hold

• IRR: —
• Equity multiple: 28.09×
• Total profit: $113,025
• Equity at exit: $28,947

Cash invested: $4,172 (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 12095

• Home prices YoY: 3.8%
• Active inventory: 83
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$78
• Tax est. 1.5%: −$19 /mo · $224/yr
• Insurance: −$6
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $648

Break-even live

Break-even rent $130

Max offer price $14,900

Occupancy floor 27%

Sensitivity live

Price	-10% $658	-5% $653	+0% $648	+5% $643	+10% $638
Rent	-10% $573	-5% $610	+0% $648	+5% $685	+10% $723
Rate	-1.0pp $655	-0.5pp $652	base $648	+0.5pp $644	+1.0pp $640

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: $3,725
• Closing costs: $447
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2025-08-22
   status Pending
2. 2025-05-01
   status Active
3. 2025-05-01
   price $14,900
4. 2025-03-25
   status Pending
5. 2025-02-22
   price $15,900
6. 2024-12-18
   listed $19,900 Active
7. 2024-10-03
   price $17,900
8. 2024-09-17
   price $18,900
9. 2024-08-21
   status Active
10. 2024-08-21
    price $19,900
11. 2024-07-27
    status Pending
12. 2024-07-27
    historical
13. 2024-06-25
    price $23,500
14. 2024-03-01
    price $24,900
15. 2023-12-20
    listed $25,000 Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $11,404
• − Mortgage interest: −$835
• − Property taxes: −$224
• − Insurance: −$74
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$433
• Taxable income: $8,014
• Est. tax owed @ 24.0%: −$1,923
• After-tax cash flow: $5,851/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: Johnstown City School District
• NCES district ID: 3615980
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $45,999
• Composite: 34.89/100
• National rank: #5082
• State rank: #509 of 590 in NY

Livability — Palatine Bridge

• Score: 66/100
• State rank: #663
• US rank: #12360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,013

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 2%
• Common ancestry: Iranian 6% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.82%
• Current HPI: 297.365
• 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

-40.4% since first listed

15 events — show timeline

• 2025-08-22 Pending — Global MLS
• 2025-05-01 Relisted — Global MLS
• 2025-05-01 Price Changed $14,900 Global MLS
• 2025-03-25 Pending — Global MLS
• 2025-02-22 Price Changed $15,900 Global MLS
• 2024-12-18 Listed $19,900 Global MLS
• 2024-10-03 Price Changed $17,900 Global MLS
• 2024-09-17 Price Changed $18,900 Global MLS
• 2024-08-21 Relisted — Global MLS
• 2024-08-21 Price Changed $19,900 Global MLS
• 2024-07-27 Pending — Global MLS
• 2024-07-27 Listing Removed — Global MLS
• 2024-06-25 Price Changed $23,500 Global MLS
• 2024-03-01 Price Changed $24,900 Global MLS
• 2023-12-20 Listed $25,000 Global MLS