789 Rock City Rd · Chatham, NY 12136

$299,000

3 bd · 2.0 ba · 2,464 sqft · SingleFamily public records · 9 Days on market

Built 1971 0.49 ac lot

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Appreciation +5.9/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Original Manufactured home with totally enclosed framed addition. Please note: Cash offers only, bring an offer!

Key facts

• Workshop space
• Upstairs storage
• Screened-in porch

Tags

• SCREENED-IN PORCH
• PAVED DRIVEWAY
• ONE-CAR GARAGE
• WORKSHOP SPACE
• UPSTAIRS STORAGE
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: One-car garage
• Home design: Manufactured single-wide home; Residential property
• Construction: 1,672 above-grade finished square feet
• Exterior features: Nearly half-acre lot (0.49 acres); Zoned residential

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom located downstairs
• Bathrooms: Two full bathrooms
• Interior features: Primary bedroom on the main floor
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Cap rate 8.5% vs local median 2.5% in Chatham — 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 (#686 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, schools B; Watch: employment C-, cost of living C-, amenities F.
• Chatham Central School District (rural): math 48% / reading 53% proficiency, ranked #353 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.8% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $100k; list at $299k implies a 199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.13% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $1,066,912
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Raccoon Forks Rd	0.42mi	3/3.5	2,600 (+6%)	5mo	$1,125,000	$433	61

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

Projected returns pro-forma

1.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.59×
• Total profit: $49,093
• Equity at exit: $114,932

10-year hold

• IRR: 14.1%
• Equity multiple: 2.85×
• Total profit: $155,067
• Equity at exit: $163,228

Cash invested: $83,720 (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 12136

• Home prices YoY: 0.5%
• Active inventory: 15
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,367 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$410 /mo · $4,918/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$707
• Net cashflow: $491

Break-even live

Break-even rent $2,745

Max offer price $299,000

Occupancy floor 80%

Sensitivity live

Price	-10% $661	-5% $576	+0% $491	+5% $407	+10% $322
Rent	-10% $225	-5% $358	+0% $491	+5% $624	+10% $757
Rate	-1.0pp $642	-0.5pp $568	base $491	+0.5pp $414	+1.0pp $335

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   status $299,000 Pending 9 DOM
2. 2026-06-19
   days on market $299,000 Active 9 DOM
3. 2026-06-18
   days on market $299,000 Active 8 DOM
4. 2026-06-17
   days on market $299,000 Active 7 DOM
5. 2026-06-16
   days on market $299,000 Active 6 DOM
6. 2026-06-15
   days on market $299,000 Active 5 DOM
7. 2026-06-14
   days on market $299,000 Active 3 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $299,000 Active 2 DOM

ⓘ 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: $4,918 · $410/mo
• Projected year-2 tax: $4,986 · $415/mo
• Expected delta: +$68/yr (+$6/mo · 1.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,410
• − Mortgage interest: −$16,749
• − Property taxes: −$4,918
• − Insurance: −$2,292
• − Repairs & maintenance: −$3,233
• − Management: −$3,233
• − Depreciation: −$8,698
• Taxable income: $1,287
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $5,589/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: Chatham Central School District
• NCES district ID: 3607110
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $61,460
• Composite: 44.28/100
• National rank: #2835
• State rank: #353 of 590 in NY

Livability — Chatham

• Score: 65/100
• State rank: #686
• US rank: #12965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 881

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 2%
• Common ancestry: Iranian 11% Romanian 6% Slovak 5%
• Foreign-born: 10% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Other Indo-European 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.81%
• Current HPI: 362.6129
• 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

+171.8% since first listed

5 events — show timeline

• 2026-06-10 Listed $299,000 HVCRMLS
• 2026-06-10 Listed $299,000 Global MLS
• 2018-12-18 Sold (Public Records) $100,000 Public Records
• 2018-12-12 Sold (MLS) $100,000 HVCRMLS
• 2018-07-05 Listed $110,000 HVCRMLS

Property tax history

+13.2%/yr

Latest (2025): $4,918 · +2.3% YoY. Source: county tax records.