1114 Main St · Leeds, NY 12414

$1,750,000

51 bd · 20.4 ba · 4,860 sqft · MultiFamily · 102 Days on market

Built 1940 Good condition 15 ac lot

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Why this score? — see what drove the A- 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 17 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Unlock the potential of this exceptional mixed-use property, ideally situated in the heart of Lovely Leeds, a town steeped in history and charm! The diverse portfolio includes- * 30+ BED HOTEL: A beautifully maintained hotel that showcases historic architecture and detailed craftsmanship, providing a unique experience for guests. * 14 RENTAL UNITS: These rentals offer an excellent income stream, while creating your vision with the rest of the property. * 5 VACANT LAND LOTS: Invest in the future with 5 prime lots ready for development. 4- 2 acre lots, 1- 3-acre lot. Whether you envision residential, commercial, or mixed-use, these parcels present endless possibilities. KEY FEATURES: HISTORIC CHARM- The hotel boasts architectural details that have been upgraded and maintained by the owner to enhance the esthetic appeal. PRIME LOCATION- Nestled in Leeds, the property benefits from a rich cultural backdrop and proximity to local attractions, making it an appealing destination for visitors. DIVERSE REVENUE STREAMS- With a combination of a hotel, rental units and developable land, this property offers multiple avenues for revenue generation, ensuring a robust investment. Seize the opportunity to own a piece of Leeds history while creating a profitable venture. Whether you're looking to expand your real estate portfolio or dive into the hospitality industry this property is a must see! Hotel has new electric and heat system in place. Rentals are below fair market value.

Key facts

• 14 rental units
• 5 vacant land lots
• 30 plus bed hotel

Tags

• 30 PLUS BED HOTEL
• 14 RENTAL UNITS
• 5 VACANT LAND LOTS
• HISTORIC ARCHITECTURE
• PRIME LOCATION
• DIVERSE REVENUE STREAMS

What this means for you Summary

Snapshot

• This is a 17 × 3-bed/?-bath units multifamily listed at $1.75M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $12k ($138k/yr) — positive. Per door: $678/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $1.75M).
• Recommended offer: $1.59M (9.0% 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).
• At $29,896/mo this rent would consume 491% of the median local household income ($73k/yr) (locally 318% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $187k of equity ($12k loan paydown + $175k 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 $490k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$301k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($1.59M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,592,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.71% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• GRM: 4.9

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: 45.7%
• Equity multiple: 4.44×
• Total profit: $1,687,516
• Equity at exit: $1,576,539

10-year hold

• IRR: 39.6%
• Equity multiple: 9.97×
• Total profit: $4,393,166
• Equity at exit: $3,399,865

Cash invested: $490,000 (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: 82.9×

Monthly cashflow live

• Estimated rent: $29,896 medium
• Mortgage (P&I): −$9,177
• Tax est. 1.5%: −$2,188 /mo · $26,250/yr
• Insurance: −$729
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,278
• Net cashflow: $11,524

Break-even live

Break-even rent $15,309

Max offer price $1,750,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 17× units	3	—	$29,903
Total (17 units)			$29,896

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: $437,500
• Closing costs: $52,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $1,750,000 Active 102 DOM
2. 2026-06-18
   days on market $1,750,000 Active 101 DOM
3. 2026-06-17
   days on market $1,750,000 Active 100 DOM
4. 2026-06-16
   days on market $1,750,000 Active 99 DOM
5. 2026-06-15
   days on market $1,750,000 Active 98 DOM
6. 2026-06-14
   days on market $1,750,000 Active 96 DOM
7. 2026-06-12
   days on market $1,750,000 Active 95 DOM
8. 2026-06-09
   days on market $1,750,000 Active 92 DOM
9. 2026-06-08
   days on market $1,750,000 Active 91 DOM
10. 2026-06-07
    days on market $1,750,000 Active 90 DOM
11. 2026-06-02
    days on market $1,750,000 Active 85 DOM
12. 2026-06-01
    days on market $1,750,000 Active 84 DOM
13. 2026-05-31
    days on market $1,750,000 Active 83 DOM
14. 2026-05-30
    days on market $1,750,000 Active 82 DOM
15. 2026-03-02
    listed $1,750,000 Active 1494-char remark

    Show marketing remark (1494 chars)

    Unlock the potential of this exceptional mixed-use property, ideally situated in the heart of Lovely Leeds, a town steeped in history and charm! The diverse portfolio includes- * 30+ BED HOTEL: A beautifully maintained hotel that showcases historic architecture and detailed craftsmanship, providing a unique experience for guests. * 14 RENTAL UNITS: These rentals offer an excellent income stream, while creating your vision with the rest of the property. * 5 VACANT LAND LOTS: Invest in the future with 5 prime lots ready for development. 4- 2 acre lots, 1- 3-acre lot. Whether you envision residential, commercial, or mixed-use, these parcels present endless possibilities. KEY FEATURES: HISTORIC CHARM- The hotel boasts architectural details that have been upgraded and maintained by the owner to enhance the esthetic appeal. PRIME LOCATION- Nestled in Leeds, the property benefits from a rich cultural backdrop and proximity to local attractions, making it an appealing destination for visitors. DIVERSE REVENUE STREAMS- With a combination of a hotel, rental units and developable land, this property offers multiple avenues for revenue generation, ensuring a robust investment. Seize the opportunity to own a piece of Leeds history while creating a profitable venture. Whether you're looking to expand your real estate portfolio or dive into the hospitality industry this property is a must see! Hotel has new electric and heat system in place. Rentals are below fair market value.

16. 2017-01-04
    listed $899,900
17. 2015-07-20
    listed $900,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $358,752
• − Mortgage interest: −$98,027
• − Property taxes: −$26,250
• − Insurance: −$8,750
• − Repairs & maintenance: −$28,700
• − Management: −$28,700
• − Depreciation: −$50,909
• Taxable income: $117,415
• Est. tax owed @ 24.0%: −$28,180
• After-tax cash flow: $110,108/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 · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minor maintenance and repairs. The highest-ROI updates include painting the exterior, replacing worn-out windows, and updating the kitchen appliances.

Value-add opportunities

• Both Paint the exterior — A fresh coat of paint can enhance the curb appeal and increase both resale and rental value.
• Both Replace worn-out windows — New windows can improve energy efficiency and increase the home's value.
• Resale Update the kitchen appliances — Modern appliances can attract more buyers and increase the home's resale value.
• Rental Install smart home features — Smart home features can attract renters and increase rental income.
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — A fresh coat of paint can enhance the curb appeal and increase both resale and rental value. ↑
• Both Replace worn-out windows — New windows can improve energy efficiency and increase the home's value. ↑
• Resale Update the kitchen appliances — Modern appliances can attract more buyers and increase the home's resale value. ↑
• Rental Install smart home features — Smart home features can attract renters and increase rental income. ↑
• Both Add a smart thermostat — A smart thermostat can improve energy efficiency and increase both resale and rental value. ↑

ⓘ 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: 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

+94.4% since first listed

3 events — show timeline

• 2026-03-02 Listed $1,750,000 HVCRMLS
• 2017-01-04 Listed $899,900 HVCRMLS
• 2015-07-20 Listed $900,000 HVCRMLS