8 Forest Hills Ave · Leeds, NY 12414

$250,000

4 bd · 2.0 ba · 2,142 sqft · SingleFamily public records · 187 Days on market

Built 1929 0.36 ac lot $117/sqft · 48% below area Est $484k · 48% 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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Appreciation +10.0/10.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• DSCR +3.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

Key facts

• Full front porch
• Concrete patio
• Mountain views

Tags

• MOUNTAIN VIEWS
• FULL FRONT PORCH
• CONCRETE PATIO
• DETACHED GARAGE
• WOOD BURNING STOVE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-12 ($-139/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (6.9% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,026 in NY) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, cost of living B; Watch: schools F, crime F, amenities F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $39k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $250k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000 (12.0% 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 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1929 — 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 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?
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. 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: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 8.9

CMA / ARV

• ARV (median comp): $483,822
• List price: $250,000
• Delta: -48.33%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $135,530
• Equity at exit: $225,220

10-year hold

• IRR: 21.4%
• Equity multiple: 6.71×
• Total profit: $399,913
• Equity at exit: $485,695

Cash invested: $70,000 (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 12414

• Home prices YoY: 11.9%
• Active inventory: 104
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,328 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$435 /mo · $5,225/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-12

Break-even live

Break-even rent $2,343

Max offer price $247,955

Occupancy floor 96%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-19
   status Pending 825-char remark

   Show marketing remark (827 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

2. 2026-05-19
   historical Active Under Contract 827-char remark

   Show marketing remark (827 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

3. 2026-05-11
   status Active 825-char remark

   Show marketing remark (825 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

4. 2026-05-04
   historical 825-char remark

   Show marketing remark (825 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

5. 2026-03-05
   price $250,000 825-char remark

   Show marketing remark (827 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

6. 2026-03-05
   price $250,000 827-char remark

   Show marketing remark (827 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

7. 2025-11-05
   listed $289,000 Active 825-char remark

   Show marketing remark (825 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

8. 2025-11-04
   listed $289,000 Active 827-char remark

   Show marketing remark (827 chars)

   This Catskill classic is an exceptional opportunity for buyers looking to add their own updates while enjoying mountain views and a convenient location. Classic 1929 Arts & Crafts Home with Mountain Views! Full of character and potential, this charming cedar shake home offers 2,142 sq. ft. with 4 bedrooms and 2 full baths. Enjoy beautiful hardwood floors, a spacious full front porch with scenic mountain views, and sliding glass doors leading to a concrete patio in the rear. The property also features a 2-car detached garage with a wood-burning stove in the basement connected to the oil hot water radiator heating system. Conveniently located just 10 minutes from the vibrant town of Hudson and 30 minutes from Windham and Hunter Ski Resorts. Great Catskill location close to shops, dining, and all local amenities.

9. 1998-03-04
   soldstatus $85,000

ⓘ 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: $5,225 · $435/mo
• Projected year-2 tax: $5,225 · $435/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $27,935
• − Mortgage interest: −$14,004
• − Property taxes: −$5,225
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − Depreciation: −$7,273
• Taxable loss: −$4,287
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $890/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: Catskill Central School District
• NCES district ID: 3606720
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $44,960
• Composite: 40.63/100
• National rank: #3685
• State rank: #429 of 590 in NY

Livability — Leeds

• Score: 59/100
• State rank: #1026
• US rank: #19980

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leeds, NY
• County: Greene County · 10,169 people
• Metro: nan
• Population (ZIP): 10,169
• Household income: $73,036
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 318.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Scotch-Irish 3% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 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: ▲ 52.47%
• Current HPI: 494.3394
• Rent YoY: —
• Metro: nan
• 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

+194.1% since first listed

9 events — show timeline

• 2026-05-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-05-19 Contingent — HVCRMLS
• 2026-05-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $250,000 HVCRMLS
• 2025-11-05 Listed $289,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-04 Listed $289,000 HVCRMLS
• 1998-03-04 Sold (Public Records) $85,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $5,225 · +154.2% YoY. Source: county tax records.