523 Enders Ave · Central Bridge, NY 12092

$79,000

3 bd · 1.5 ba · 1,720 sqft · SingleFamily public records · 54 Days on market

Built 1930 0.90 ac lot $46/sqft · 61% below area

---

Why this score? — see what drove the B+ 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 +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

With some TLC this four-bedroom, one and a half bath house would make a wonderful home. There is over 1700 sqft of living area with a first floor bedroom, laundry and open concept living, dining and kitchen. This home is serviced by public water and is a short distance to I-88 and the Village of Cobleskill. Sold in as is condition.

Key facts

• Large front room
• Pellet stove
• Outdoor space

Tags

• WIDE PLANK FLOORS
• LARGE FRONT ROOM
• APPROXIMATELY 0.90 ACRES
• HILLSIDE PROPERTY
• OUTDOOR SPACE
• PELLET STOVE

Property features AI

Exterior

• Parking: 3 total parking spaces
• Utilities: 100 amp electrical service; Public water; Septic tank sewer
• Home design: Single family residence
• Construction: Other construction materials
• Exterior features: Metal and asphalt roofing

Interior

• Kitchen: Gas oven; Refrigerator; Freezer
• Bedrooms: Three bedrooms on the second level
• Bathrooms: One full bathroom on the second level; One half bathroom on the first level
• Heating & cooling: Pellet stove heating
• Interior features: 9 total rooms; Exterior entry basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,038 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Cobleskill-Richmondville Central School District (town): math 53% / reading 52% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($546 loan paydown + $8k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $37k; list at $79k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
5. 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?
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: 1.78% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.70%
• DSCR: 2.23
• GRM: 4.7

CMA / ARV

• ARV (median comp): $202,465
• List price: $79,000
• Delta: -60.98%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 N Main St	0.49mi	3/2.0	1,536 (-11%)	6mo	$187,000	$122	52
125 Church St	0.56mi	4/2.0 (+1)	1,860 (+8%)	5mo	$257,000	$138	49
609 Enders Ave Ave	0.41mi	4/1.5 (+1)	1,800 (+5%)	23mo	$120,000	$67	49
138 S Main St	0.70mi	3/1.5	1,779 (+3%)	20mo	$170,000	$96	45

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

Projected returns pro-forma

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

5-year hold

• IRR: 45.3%
• Equity multiple: 4.42×
• Total profit: $75,607
• Equity at exit: $71,169

10-year hold

• IRR: 39.3%
• Equity multiple: 9.91×
• Total profit: $197,183
• Equity at exit: $153,480

Cash invested: $22,120 (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 12092

• Home prices YoY: 3.7%
• Active inventory: 4
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$155 /mo · $1,858/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $511

Break-even live

Break-even rent $762

Max offer price $79,000

Occupancy floor 59%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $79,000 Active 54 DOM
2. 2026-06-17
   days on market $79,000 Active 53 DOM
3. 2026-06-16
   days on market $79,000 Active 52 DOM
4. 2026-06-15
   days on market $79,000 Active 51 DOM
5. 2026-06-13
   days on market $79,000 Active 49 DOM
6. 2026-06-12
   days on market $79,000 Active 48 DOM
7. 2026-06-09
   days on market $79,000 Active 45 DOM
8. 2026-06-08
   days on market $79,000 Active 44 DOM
9. 2026-06-07
   days on market $79,000 Active 43 DOM
10. 2026-06-07
    days on market $79,000 Active 42 DOM
11. 2026-06-04
    days on market $79,000 Active 39 DOM
12. 2026-06-02
    days on market $79,000 Active 38 DOM
13. 2026-06-01
    days on market $79,000 Active 37 DOM
14. 2026-05-31
    days on market $79,000 Active 36 DOM
15. 2026-04-25
    listed $79,000 Active 1865-char remark
16. 2023-10-10
    soldstatus $37,000 Closed 333-char remark

    Show marketing remark (333 chars)

    With some TLC this four-bedroom, one and a half bath house would make a wonderful home. There is over 1700 sqft of living area with a first floor bedroom, laundry and open concept living, dining and kitchen. This home is serviced by public water and is a short distance to I-88 and the Village of Cobleskill. Sold in as is condition.

17. 2023-07-25
    status Pending 333-char remark

    Show marketing remark (333 chars)

    With some TLC this four-bedroom, one and a half bath house would make a wonderful home. There is over 1700 sqft of living area with a first floor bedroom, laundry and open concept living, dining and kitchen. This home is serviced by public water and is a short distance to I-88 and the Village of Cobleskill. Sold in as is condition.

18. 2023-05-30
    listed $45,000 Active 333-char remark

    Show marketing remark (333 chars)

    With some TLC this four-bedroom, one and a half bath house would make a wonderful home. There is over 1700 sqft of living area with a first floor bedroom, laundry and open concept living, dining and kitchen. This home is serviced by public water and is a short distance to I-88 and the Village of Cobleskill. Sold in as is condition.

ⓘ 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: $1,858 · $155/mo
• Projected year-2 tax: $1,858 · $155/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $16,902
• − Mortgage interest: −$4,425
• − Property taxes: −$1,858
• − Insurance: −$395
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$2,298
• Taxable income: $5,221
• Est. tax owed @ 24.0%: −$1,253
• After-tax cash flow: $4,875/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: Cobleskill-Richmondville Central School District
• NCES district ID: 3600010
• Math proficiency: 53% ▲ 2.00%
• Reading proficiency: 52% ▲ 10.00%
• Median HH income: $49,555
• Composite: 44.83/100
• National rank: #2734
• State rank: #336 of 590 in NY

Livability — Central Bridge

• Score: 59/100
• State rank: #1038
• US rank: #20517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Bridge, NY
• Population (ZIP): 1,423

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 2% Pacific Islander 1%
• Common ancestry: Italian 10% Iranian 9% Romanian 7%
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.07%
• Current HPI: 283.9492
• 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

+75.6% since first listed

4 events — show timeline

• 2026-04-25 Listed $79,000 Global MLS
• 2023-10-10 Sold (MLS) $37,000 Global MLS
• 2023-07-25 Pending — Global MLS
• 2023-05-30 Listed $45,000 Global MLS

Property tax history

+11.5%/yr

Latest (2025): $1,858 · +3.8% YoY. Source: county tax records.