877 County Route 164 · Hortonville, NY 12723

$165,000

2 bd · 1.0 ba · 980 sqft · SingleFamily public records · 132 Days on market

Built 1975 0.40 ac lot $168/sqft · 25% below area Est $219k · 25% under

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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 +23.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +7.1/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Set among the bucolic rolling hills of Callicoon on a half acre, Farmview Chalet is a wonderful opportunity for a buyer looking for a project with some of the dirty work already done. Gutted to the studs and ready for build out, roll up your sleeves and make this magical little chalet come to life. Entering the house, you’re greeted by a living room with a brick fireplace as a charming focal point. It’s easy to see nights spent fireside on your vision board, and to let the house grow from there. A staircase with decorative spindles divides the lower level logically and also provides some architectural intrigue. On the far side of the staircase, a light and bright rear room open up. This could be a dining space or kitchen - both would be great choices to soak up the southern light that pours in year-round. Adjacent, you’ll find the full bathroom ready for its new life. Upstairs, there are two bedrooms on the front and back of the home, including the charming juliet balcony overlooking the neighboring farm fields. Need a little extra room? Perhaps a dormer and a primary bathroom could be just the right idea. Whatever you choose, with the space totally opened up, you’ll be able to see all the available options easily. Located only 5 minutes from Callicoon, and 10 from Jeffersonville - Farmview Chalet is in a sweet spot in western Sullivan County. It’s rare to find a project like this, in a location like this, with a price like this. Don’t dilly dally - come make it your very own HGTV moment. AI-assisted imagery included in the listing to get the ideas flowing.

Key facts

• Juliet balcony
• Brick fireplace
• Full bathroom

Tags

• BRICK FIREPLACE
• JULIET BALCONY
• FULL BATHROOM
• DECORATIVE SPINDLES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#578 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Sullivan West Central School District (rural): math 45% / reading 47% proficiency, ranked #436 of 590 in NY (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sullivan West Elementary School (math 41% / reading 48%, grade F, #1,277 of 2,108 statewide, top 64%, 571 students, 37% FRL); Sullivan West High School At Lake Huntington (math 52% / reading 47%, grade D, #974 of 1,100 statewide, top 91%, 477 students, 39% FRL).
• Market conditions: 39 active listings in the ZIP; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -24% 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $95k; list at $165k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 6.9

CMA / ARV

• ARV (median comp): $218,776
• List price: $165,000
• Delta: -24.58%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.3%
• Equity multiple: 3.39×
• Total profit: $110,264
• Equity at exit: $148,645

10-year hold

• IRR: 26.3%
• Equity multiple: 7.69×
• Total profit: $308,952
• Equity at exit: $320,559

Cash invested: $46,200 (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 12723

• Home prices YoY: 23.4%
• Active inventory: 39
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$324 /mo · $3,893/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $319

Break-even live

Break-even rent $1,593

Max offer price $165,000

Occupancy floor 79%

Sensitivity live

Price	-10% $412	-5% $365	+0% $319	+5% $272	+10% $225
Rent	-10% $161	-5% $240	+0% $319	+5% $398	+10% $476
Rate	-1.0pp $402	-0.5pp $361	base $319	+0.5pp $276	+1.0pp $232

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $165,000 Active 132 DOM
2. 2026-06-21
   days on market $165,000 Active 131 DOM
3. 2026-06-18
   days on market $165,000 Active 129 DOM
4. 2026-06-17
   days on market $165,000 Active 128 DOM
5. 2026-06-16
   days on market $165,000 Active 127 DOM
6. 2026-06-15
   days on market $165,000 Active 126 DOM
7. 2026-06-13
   days on market $165,000 Active 124 DOM
8. 2026-06-12
   days on market $165,000 Active 123 DOM
9. 2026-06-09
   days on market $165,000 Active 120 DOM
10. 2026-06-08
    days on market $165,000 Active 119 DOM
11. 2026-06-07
    days on market $165,000 Active 118 DOM
12. 2026-06-07
    days on market $165,000 Active 117 DOM
13. 2026-06-04
    days on market $165,000 Active 114 DOM
14. 2026-06-02
    days on market $165,000 Active 113 DOM
15. 2026-06-01
    days on market $165,000 Active 112 DOM
16. 2026-05-31
    days on market $165,000 Active 111 DOM
17. 2026-02-09
    listed $165,000 Active 1623-char remark

    Show marketing remark (1623 chars)

    Set among the bucolic rolling hills of Callicoon on a half acre, Farmview Chalet is a wonderful opportunity for a buyer looking for a project with some of the dirty work already done. Gutted to the studs and ready for build out, roll up your sleeves and make this magical little chalet come to life. Entering the house, you’re greeted by a living room with a brick fireplace as a charming focal point. It’s easy to see nights spent fireside on your vision board, and to let the house grow from there. A staircase with decorative spindles divides the lower level logically and also provides some architectural intrigue. On the far side of the staircase, a light and bright rear room open up. This could be a dining space or kitchen - both would be great choices to soak up the southern light that pours in year-round. Adjacent, you’ll find the full bathroom ready for its new life. Upstairs, there are two bedrooms on the front and back of the home, including the charming juliet balcony overlooking the neighboring farm fields. Need a little extra room? Perhaps a dormer and a primary bathroom could be just the right idea. Whatever you choose, with the space totally opened up, you’ll be able to see all the available options easily. Located only 5 minutes from Callicoon, and 10 from Jeffersonville - Farmview Chalet is in a sweet spot in western Sullivan County. It’s rare to find a project like this, in a location like this, with a price like this. Don’t dilly dally - come make it your very own HGTV moment. AI-assisted imagery included in the listing to get the ideas flowing.

18. 2024-04-29
    soldstatus $95,000
19. 2024-04-18
    soldstatus $95,000 Closed 387-char remark

    Show marketing remark (387 chars)

    Are you looking for a Spring project for Summer enjoyment. This chalet style 2 bedroom home is close to Villa Roma and would make a great summer time getaway with its Juliet balcony and wrap around porch. Cash or Rehab only please. The meter is out and there is no electric so there is no water. Will need to have that reinstalled. There is a well and septic. House was heated with oil.

20. 2024-03-22
    status Pending 387-char remark

    Show marketing remark (387 chars)

    Are you looking for a Spring project for Summer enjoyment. This chalet style 2 bedroom home is close to Villa Roma and would make a great summer time getaway with its Juliet balcony and wrap around porch. Cash or Rehab only please. The meter is out and there is no electric so there is no water. Will need to have that reinstalled. There is a well and septic. House was heated with oil.

21. 2024-02-29
    listed $99,000 Active 387-char remark

    Show marketing remark (387 chars)

    Are you looking for a Spring project for Summer enjoyment. This chalet style 2 bedroom home is close to Villa Roma and would make a great summer time getaway with its Juliet balcony and wrap around porch. Cash or Rehab only please. The meter is out and there is no electric so there is no water. Will need to have that reinstalled. There is a well and septic. House was heated with oil.

ⓘ 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: $3,893 · $324/mo
• Projected year-2 tax: $3,893 · $324/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $23,957
• − Mortgage interest: −$9,243
• − Property taxes: −$3,893
• − Insurance: −$825
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$4,800
• Taxable income: $1,363
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $3,497/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: Sullivan West Central School District
• NCES district ID: 3600023
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $56,078
• Composite: 40.05/100
• National rank: #3817
• State rank: #436 of 590 in NY

Livability — Hortonville

• Score: 67/100
• State rank: #578
• US rank: #10444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,854

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 14% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Subsaharan African 3% Lithuanian 3%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 3% French/Haitian/Cajun 2%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 64.22%
• Current HPI: 339.0364
• 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

+66.7% since first listed

5 events — show timeline

• 2026-02-09 Listed $165,000 OneKey® MLS as Distributed by MLS Grid
• 2024-04-29 Sold (Public Records) $95,000 Public Records
• 2024-04-18 Sold (MLS) $95,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-22 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-02-29 Listed $99,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $3,893 · +29.0% YoY. Source: county tax records.