687 Main St · Margaretville, NY 12455

$285,000

3 bd · 1.5 ba · 1,542 sqft · SingleFamily · 30 Days on market

Built 1869 Good condition 4,791 sqft lot $185/sqft · at area comps Est $273k · at est.

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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 +24.8/30.0
• DSCR +8.0/10.0
• Appreciation +7.2/10.0
• 1% rule +6.4/10.0
• ARV discount +5.4/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

Nestled in the heart of a picturesque Catskill Mountain village, this enchanting home is a true gem that seamlessly combines historical charm with contemporary updates. Built in 1869, this residence has stood the test of time. With its delightful front porch, three well-appointed bedrooms, and one and a half bathrooms, this home is perfect for anyone looking to experience the beauty of mountain living while enjoying the conveniences of village life. The property also features off-street parking, a rare find in such a desirable village location. The current owner has made numerous updates to the home, ensuring that it meets the needs of modern living. The new flooring throughout the home adds a creating a seamless flow from room to room. The living area is bright and airy, thanks to large windows that allow natural light to flood the space. The separate dining room offers a perfect setting for family dinners or intimate gatherings. The kitchen is updated with a new oven and dishwasher; plenty of counter space and storage, This charming home boasts three comfortable bedrooms. The primary bedroom is spacious and features ample closet space. The additional bedrooms are well-sized. The home includes 1.5 bathroom. In this prime location, you will find a gourmet food shop, a supermarket, and charming art galleries that showcase local talent. Outdoor enthusiasts will appreciate being just minutes away from hiking trails and swimming spots. In the winter, you’re only 14 minutes from the Belleayre Mountain Ski Center, Farmers' markets, art shows, and seasonal festivals are just a few of the highlights that make this area special. Whether you’re for a year-round residence or a weekend getaway, this home offers the perfect balance of comfort, convenience, and charm. Living in this Catskill Mountain village means embracing a lifestyle that celebrates nature, community, and creativity. The village is known for its friendly atmosphere, where neighbors become friends and community events bring everyone together. The updates made by the current owner ensure that you can move right in and start enjoying everything this wonderful village and surrounding area have to offer.

Key facts

• Large windows
• Separate dining room
• Front porch

Tags

• FRONT PORCH
• OFF-STREET PARKING
• NEW FLOORING
• LARGE WINDOWS
• SEPARATE DINING ROOM
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $281k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.2% in Margaretville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#711 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A, cost of living A-; Watch: employment D, schools F, crime F.
• Margaretville Central School District (rural): math 30% / reading 25% proficiency, ranked #734 of 755 in NY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 47 active listings in the ZIP; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (4.4% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 1869 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,725 (1.5% below list)

Questions for the listing agent

1. Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $272,502
• List price: $285,000
• Delta: 4.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1031 Main St	0.34mi	3/2.0	1,585 (+3%)	3mo	$285,000	$180	75
91 Swart St	0.11mi	3/2.0	1,638 (+6%)	10mo	$365,000	$223	74
83 Walnut St	0.07mi	3/2.0	1,644 (+7%)	13mo	$96,500	$59	72
207 Walnut St	0.20mi	3/2.5	1,700 (+10%)	1mo	$515,000	$303	68
86 Maple St	0.17mi	2/1.0 (-1)	1,364 (-12%)	9mo	$69,000	$51	58
711 Main St	0.02mi	4/2.0 (+1)	1,738 (+13%)	24mo	$90,000	$52	51

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

Projected returns pro-forma

4.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.17×
• Total profit: $93,604
• Equity at exit: $150,593

10-year hold

• IRR: 19.5%
• Equity multiple: 4.20×
• Total profit: $255,373
• Equity at exit: $251,299

Cash invested: $79,800 (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 12455

• Home prices YoY: 1.2%
• Active inventory: 47
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,251 medium
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $599

Break-even live

Break-even rent $2,493

Max offer price $285,000

Occupancy floor 77%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-11
   status Pending 2204-char remark

   Show marketing remark (2204 chars)

   Nestled in the heart of a picturesque Catskill Mountain village, this enchanting home is a true gem that seamlessly combines historical charm with contemporary updates. Built in 1869, this residence has stood the test of time. With its delightful front porch, three well-appointed bedrooms, and one and a half bathrooms, this home is perfect for anyone looking to experience the beauty of mountain living while enjoying the conveniences of village life. The property also features off-street parking, a rare find in such a desirable village location. The current owner has made numerous updates to the home, ensuring that it meets the needs of modern living. The new flooring throughout the home adds a creating a seamless flow from room to room. The living area is bright and airy, thanks to large windows that allow natural light to flood the space. The separate dining room offers a perfect setting for family dinners or intimate gatherings. The kitchen is updated with a new oven and dishwasher; plenty of counter space and storage, This charming home boasts three comfortable bedrooms. The primary bedroom is spacious and features ample closet space. The additional bedrooms are well-sized. The home includes 1.5 bathroom. In this prime location, you will find a gourmet food shop, a supermarket, and charming art galleries that showcase local talent. Outdoor enthusiasts will appreciate being just minutes away from hiking trails and swimming spots. In the winter, you’re only 14 minutes from the Belleayre Mountain Ski Center, Farmers' markets, art shows, and seasonal festivals are just a few of the highlights that make this area special. Whether you’re for a year-round residence or a weekend getaway, this home offers the perfect balance of comfort, convenience, and charm. Living in this Catskill Mountain village means embracing a lifestyle that celebrates nature, community, and creativity. The village is known for its friendly atmosphere, where neighbors become friends and community events bring everyone together. The updates made by the current owner ensure that you can move right in and start enjoying everything this wonderful village and surrounding area have to offer.

2. 2026-04-11
   listed $285,000 Active 2204-char remark

   Show marketing remark (2204 chars)

   Nestled in the heart of a picturesque Catskill Mountain village, this enchanting home is a true gem that seamlessly combines historical charm with contemporary updates. Built in 1869, this residence has stood the test of time. With its delightful front porch, three well-appointed bedrooms, and one and a half bathrooms, this home is perfect for anyone looking to experience the beauty of mountain living while enjoying the conveniences of village life. The property also features off-street parking, a rare find in such a desirable village location. The current owner has made numerous updates to the home, ensuring that it meets the needs of modern living. The new flooring throughout the home adds a creating a seamless flow from room to room. The living area is bright and airy, thanks to large windows that allow natural light to flood the space. The separate dining room offers a perfect setting for family dinners or intimate gatherings. The kitchen is updated with a new oven and dishwasher; plenty of counter space and storage, This charming home boasts three comfortable bedrooms. The primary bedroom is spacious and features ample closet space. The additional bedrooms are well-sized. The home includes 1.5 bathroom. In this prime location, you will find a gourmet food shop, a supermarket, and charming art galleries that showcase local talent. Outdoor enthusiasts will appreciate being just minutes away from hiking trails and swimming spots. In the winter, you’re only 14 minutes from the Belleayre Mountain Ski Center, Farmers' markets, art shows, and seasonal festivals are just a few of the highlights that make this area special. Whether you’re for a year-round residence or a weekend getaway, this home offers the perfect balance of comfort, convenience, and charm. Living in this Catskill Mountain village means embracing a lifestyle that celebrates nature, community, and creativity. The village is known for its friendly atmosphere, where neighbors become friends and community events bring everyone together. The updates made by the current owner ensure that you can move right in and start enjoying everything this wonderful village and surrounding area have to offer.

3. 2025-12-29
   historical
4. 2025-10-07
   price $285,000
5. 2025-10-07
   price $285,000
6. 2025-07-03
   listed $292,000 Active
7. 2025-06-28
   listed $292,000 Active
8. 2023-10-24
   soldstatus $255,000 Sold
9. 2023-09-14
   status Pending (Fully Executed Contract)
10. 2023-08-12
    status Pending (Continue To Show)
11. 2023-06-12
    listed $265,000 Active
12. 2020-12-01
    soldstatus $139,000
13. 2020-06-09
    listed $139,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥85°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,010
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,121
• − Management: −$3,121
• − Depreciation: −$8,291
• Taxable income: $2,813
• Est. tax owed @ 24.0%: −$675
• After-tax cash flow: $6,508/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 · 1 photo

Good 75/100 Cosmetic rehab

This charming single-family home in Margaretville, NY, is in excellent condition with recent updates. It offers a great balance of historical charm and modern conveniences, making it an ideal property for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Resale New flooring in bathrooms — Improves functionality and appearance
• Resale New kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale New flooring in bathrooms — Improves functionality and appearance ↑
• Resale New kitchen appliances — Modernizes the space and adds 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: Margaretville Central School District
• NCES district ID: 3618510
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $42,369
• Composite: 26.35/100
• National rank: #12675
• State rank: #734 of 755 in NY

Livability — Margaretville

• Score: 65/100
• State rank: #711
• US rank: #13534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margaretville, NY
• Population (ZIP): 1,859

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 42,668 people
• By 2030: 40,337 · -5.5%
• By 2040: 35,514 · -16.8%
• By 2050: 31,265 · -26.7%
• By 2075: 24,455 · -42.7%
• By 2100: 19,529 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 5% Iranian 3% Slovak 3%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 77% English-only · Spanish 12% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Delaware

• 2024 margin: R (+19.8) · D 40.1% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -5.2pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+18.4 2016: R+29.2 2012: R+9.6 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.36%
• Current HPI: 355.7672
• 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

+105.0% since first listed

13 events — show timeline

• 2026-05-11 Pending — UNYREIS
• 2026-04-11 Listed $285,000 UNYREIS
• 2025-12-29 Listing Removed — UNYREIS
• 2025-10-07 Price Changed $285,000 HVCRMLS
• 2025-10-07 Price Changed $285,000 UNYREIS
• 2025-07-03 Listed $292,000 HVCRMLS
• 2025-06-28 Listed $292,000 UNYREIS
• 2023-10-24 Sold (MLS) $255,000 HVCRMLS
• 2023-09-14 Pending — HVCRMLS
• 2023-08-12 Pending — HVCRMLS
• 2023-06-12 Listed $265,000 HVCRMLS
• 2020-12-01 Sold (MLS) $139,000 UNYREIS
• 2020-06-09 Listed $139,000 UNYREIS