356 Honey Hill Rd · Cherry Valley, NY 13320

$159,000

2 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 5 Days on market

Built 1960 2.25 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks

Escape to a peaceful hilltop retreat in the country where this 2+ bedroom and 1-bath home sits on a sprawling lot featuring two private ponds and a winding stream. Upon entering, you step into an open-concept living room, dining area, where vaulted wood-paneled ceilings and matching walls create a traditional cabin atmosphere. The updated kitchen has views of the yard and ponds. Beyond the kitchen and dining area is the addition featuring the primary suite. This addition with T-11 siding was added and features a family room/sitting room that leads out to the back deck, the primary first floor bedroom, and the walk-in closet. Stairs lead up to the second level, which includes another bedroom

Key facts

• Winding stream
• Primary suite
• Updated kitchen

Tags

• PRIVATE PONDS
• WINDING STREAM
• OPEN-CONCEPT LIVING ROOM
• UPDATED KITCHEN
• PRIMARY SUITE
• BACK DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (20.8% below list).
• Recommended offer: $126k (20.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#990 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: schools C-, health & safety C-, employment D.
• Cherry Valley-Springfield Central School District (rural): math 45% / reading 45% proficiency, ranked #564 of 755 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 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 $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $159k implies a 215% gain — meaningful room to come down on a strong offer.

Recommended offer $125,968 (20.8% 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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.58%
• DSCR: 0.84
• GRM: 10.5

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: 21.7%
• Equity multiple: 2.76×
• Total profit: $78,168
• Equity at exit: $143,240

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $236,922
• Equity at exit: $308,902

Cash invested: $44,520 (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 13320

• Home prices YoY: 2.4%
• Active inventory: 17
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$228 /mo · $2,736/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-133

Break-even live

Break-even rent $1,428

Max offer price $135,522

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-88	+0% $-133	+5% $-178	+10% $-223
Rent	-10% $-232	-5% $-183	+0% $-133	+5% $-83	+10% $-33
Rate	-1.0pp $-53	-0.5pp $-92	base $-133	+0.5pp $-174	+1.0pp $-216

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-26
   status Pending
2. 2026-04-20
   listed $159,000 Active
3. 1997-11-17
   soldstatus $50,500

ⓘ 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: $2,736 · $228/mo
• Projected year-2 tax: $2,736 · $228/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 16 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: $15,116
• − Mortgage interest: −$8,906
• − Property taxes: −$2,736
• − Insurance: −$795
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$4,625
• Taxable loss: −$4,365
• Est. tax savings @ 24.0%: +$1,048
• After-tax cash flow: $-547/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: Cherry Valley-Springfield Central School District
• NCES district ID: 3600006
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $49,619
• Composite: 40.82/100
• National rank: #7553
• State rank: #564 of 755 in NY

Livability — Cherry Valley

• Score: 60/100
• State rank: #990
• US rank: #19371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,027

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 (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Iranian 8% Romanian 4% Italian 4%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 93% English-only · German/W. Germanic 5% Spanish 1%

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: ▲ 10.81%
• Current HPI: 462.6521
• 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

+214.9% since first listed

3 events — show timeline

• 2026-04-26 Pending — UNYREIS
• 2026-04-20 Listed $159,000 UNYREIS
• 1997-11-17 Sold (Public Records) $50,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,736 · +1.8% YoY. Source: county tax records.