155 Lee Hollow Rd · Andes, NY 13753

$148,000

1 bd · 1.0 ba · 1,342 sqft · SingleFamily public records · 42 Days on market

Built 1926 1.00 ac lot Est $157k · 6% under

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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).

• ARV discount +10.1/15.0
• Appreciation +10.0/10.0
• Cash flow +5.6/30.0
• Schools +4.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Once a place of learning and laughter, this former schoolhouse has been thoughtfully reimagined into a Catskills cottage—where history, simplicity, and potential meet on a quiet, town-maintained road in the Town of Bovina, just minutes from the beloved villages of Andes and Delhi. Set on approximately an acre with a mostly level backyard and fenced garden area, the setting feels open and peaceful, with an extraordinary bonus across the street: approximately 75 acres of NYC DEP recreational land, open to the public for hiking and hunting, with access to the Little Delaware River. Nature, trails, and water are quite literally part of the surrounding and the lifestyle here. A sweet front porch welcomes you home, leading to a charming Dutch door that opens into warm wood floors and an inviting interior. The living room centers around a cozy woodstove—perfect for crisp Catskills evenings—while propane hot-air heat provides comfort year-round. A dining area with built-in cabinetry nods to the home’s past, and the efficient kitchen makes smart use of space, complete with a washing machine and nearby utility area with dryer. The layout includes a full bathroom, a first-floor bedroom, and a spacious upstairs sleeping loft. An attached one-car garage adds practicality. A side porch addition offers an opportunity for the next steward: currently in need of removal or renovation, it invites vision and creativity. Whether restored or reimagined, this space underscores the home’s potential and its story still unfolding. Affordable, historic, and rich with charm, this is a rare chance to carry forward the legacy of a Catskills schoolhouse—adding your own chapter in a setting that celebrates nature, history, and the simple beauty of rural life.

Key facts

• Dutch door
• Built-in cabinetry
• Propane hot-air heat

Tags

• FENCED GARDEN AREA
• FRONT PORCH
• DUTCH DOOR
• COZY WOODSTOVE
• PROPANE HOT-AIR HEAT
• BUILT-IN CABINETRY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $-310 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (37.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (27.1% below list).
• Recommended offer: $93k (37.0% below list) — sets the bar for cash-flow.
• Cap rate 3.8% vs local median 3.1% in Andes — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 57/100 on livability (#1,096 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing B+; Watch: schools D+, crime D+, employment D.
• Delaware Academy Central School District At Delhi (rural): math 57% / reading 57% proficiency, ranked #284 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 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 $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $110k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,311 (37.0% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.73% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $157,014
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 Lee Hollow Rd	0.00mi	2/1.0 (+1)	1,342 (0%)	1mo	$157,000	$117	94

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: 18.0%
• Equity multiple: 2.47×
• Total profit: $60,989
• Equity at exit: $133,330

10-year hold

• IRR: 16.9%
• Equity multiple: 5.71×
• Total profit: $195,311
• Equity at exit: $287,531

Cash invested: $41,440 (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 13753

• Home prices YoY: 13.0%
• Active inventory: 31
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$324 /mo · $3,889/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-310

Break-even live

Break-even rent $1,471

Max offer price $93,311

Occupancy floor —

Sensitivity live

Price	-10% $-226	-5% $-268	+0% $-310	+5% $-351	+10% $-393
Rent	-10% $-395	-5% $-352	+0% $-310	+5% $-267	+10% $-224
Rate	-1.0pp $-235	-0.5pp $-272	base $-310	+0.5pp $-348	+1.0pp $-387

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-02-24
   status Pending
2. 2026-01-28
   status Pending 1793-char remark

   Show marketing remark (1793 chars)

   Once a place of learning and laughter, this former schoolhouse has been thoughtfully reimagined into a Catskills cottage—where history, simplicity, and potential meet on a quiet, town-maintained road in the Town of Bovina, just minutes from the beloved villages of Andes and Delhi. Set on approximately an acre with a mostly level backyard and fenced garden area, the setting feels open and peaceful, with an extraordinary bonus across the street: approximately 75 acres of NYC DEP recreational land, open to the public for hiking and hunting, with access to the Little Delaware River. Nature, trails, and water are quite literally part of the surrounding and the lifestyle here. A sweet front porch welcomes you home, leading to a charming Dutch door that opens into warm wood floors and an inviting interior. The living room centers around a cozy woodstove—perfect for crisp Catskills evenings—while propane hot-air heat provides comfort year-round. A dining area with built-in cabinetry nods to the home’s past, and the efficient kitchen makes smart use of space, complete with a washing machine and nearby utility area with dryer. The layout includes a full bathroom, a first-floor bedroom, and a spacious upstairs sleeping loft. An attached one-car garage adds practicality. A side porch addition offers an opportunity for the next steward: currently in need of removal or renovation, it invites vision and creativity. Whether restored or reimagined, this space underscores the home’s potential and its story still unfolding. Affordable, historic, and rich with charm, this is a rare chance to carry forward the legacy of a Catskills schoolhouse—adding your own chapter in a setting that celebrates nature, history, and the simple beauty of rural life.

3. 2026-01-28
   historical Active Under Contract

   Show marketing remark (1793 chars)

   Once a place of learning and laughter, this former schoolhouse has been thoughtfully reimagined into a Catskills cottage—where history, simplicity, and potential meet on a quiet, town-maintained road in the Town of Bovina, just minutes from the beloved villages of Andes and Delhi. Set on approximately an acre with a mostly level backyard and fenced garden area, the setting feels open and peaceful, with an extraordinary bonus across the street: approximately 75 acres of NYC DEP recreational land, open to the public for hiking and hunting, with access to the Little Delaware River. Nature, trails, and water are quite literally part of the surrounding and the lifestyle here. A sweet front porch welcomes you home, leading to a charming Dutch door that opens into warm wood floors and an inviting interior. The living room centers around a cozy woodstove—perfect for crisp Catskills evenings—while propane hot-air heat provides comfort year-round. A dining area with built-in cabinetry nods to the home’s past, and the efficient kitchen makes smart use of space, complete with a washing machine and nearby utility area with dryer. The layout includes a full bathroom, a first-floor bedroom, and a spacious upstairs sleeping loft. An attached one-car garage adds practicality. A side porch addition offers an opportunity for the next steward: currently in need of removal or renovation, it invites vision and creativity. Whether restored or reimagined, this space underscores the home’s potential and its story still unfolding. Affordable, historic, and rich with charm, this is a rare chance to carry forward the legacy of a Catskills schoolhouse—adding your own chapter in a setting that celebrates nature, history, and the simple beauty of rural life.

4. 2026-01-12
   listed $148,000 Active

   Show marketing remark (1793 chars)

   Once a place of learning and laughter, this former schoolhouse has been thoughtfully reimagined into a Catskills cottage—where history, simplicity, and potential meet on a quiet, town-maintained road in the Town of Bovina, just minutes from the beloved villages of Andes and Delhi. Set on approximately an acre with a mostly level backyard and fenced garden area, the setting feels open and peaceful, with an extraordinary bonus across the street: approximately 75 acres of NYC DEP recreational land, open to the public for hiking and hunting, with access to the Little Delaware River. Nature, trails, and water are quite literally part of the surrounding and the lifestyle here. A sweet front porch welcomes you home, leading to a charming Dutch door that opens into warm wood floors and an inviting interior. The living room centers around a cozy woodstove—perfect for crisp Catskills evenings—while propane hot-air heat provides comfort year-round. A dining area with built-in cabinetry nods to the home’s past, and the efficient kitchen makes smart use of space, complete with a washing machine and nearby utility area with dryer. The layout includes a full bathroom, a first-floor bedroom, and a spacious upstairs sleeping loft. An attached one-car garage adds practicality. A side porch addition offers an opportunity for the next steward: currently in need of removal or renovation, it invites vision and creativity. Whether restored or reimagined, this space underscores the home’s potential and its story still unfolding. Affordable, historic, and rich with charm, this is a rare chance to carry forward the legacy of a Catskills schoolhouse—adding your own chapter in a setting that celebrates nature, history, and the simple beauty of rural life.

5. 2026-01-12
   listed $148,000 Active 1793-char remark

   Show marketing remark (1793 chars)

   Once a place of learning and laughter, this former schoolhouse has been thoughtfully reimagined into a Catskills cottage—where history, simplicity, and potential meet on a quiet, town-maintained road in the Town of Bovina, just minutes from the beloved villages of Andes and Delhi. Set on approximately an acre with a mostly level backyard and fenced garden area, the setting feels open and peaceful, with an extraordinary bonus across the street: approximately 75 acres of NYC DEP recreational land, open to the public for hiking and hunting, with access to the Little Delaware River. Nature, trails, and water are quite literally part of the surrounding and the lifestyle here. A sweet front porch welcomes you home, leading to a charming Dutch door that opens into warm wood floors and an inviting interior. The living room centers around a cozy woodstove—perfect for crisp Catskills evenings—while propane hot-air heat provides comfort year-round. A dining area with built-in cabinetry nods to the home’s past, and the efficient kitchen makes smart use of space, complete with a washing machine and nearby utility area with dryer. The layout includes a full bathroom, a first-floor bedroom, and a spacious upstairs sleeping loft. An attached one-car garage adds practicality. A side porch addition offers an opportunity for the next steward: currently in need of removal or renovation, it invites vision and creativity. Whether restored or reimagined, this space underscores the home’s potential and its story still unfolding. Affordable, historic, and rich with charm, this is a rare chance to carry forward the legacy of a Catskills schoolhouse—adding your own chapter in a setting that celebrates nature, history, and the simple beauty of rural life.

6. 2006-10-27
   soldstatus $110,000
7. 2002-08-23
   soldstatus $53,000
8. 2001-10-29
   soldstatus $44,000

ⓘ 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: $3,889 · $324/mo
• Projected year-2 tax: $3,889 · $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 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥88°F today · 18 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: $12,946
• − Mortgage interest: −$8,290
• − Property taxes: −$3,889
• − Insurance: −$740
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$4,305
• Taxable loss: −$6,350
• Est. tax savings @ 24.0%: +$1,524
• After-tax cash flow: $-2,191/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: Delaware Academy Central School District At Delhi
• NCES district ID: 3608910
• Math proficiency: 57% ▼ -4.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $49,547
• Composite: 48.55/100
• National rank: #2113
• State rank: #284 of 590 in NY

Livability — Andes

• Score: 57/100
• State rank: #1096
• US rank: #22324

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,629

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4% Asian 2% Black 1%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Tagalog/Filipino 1%

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: ▲ 37.86%
• Current HPI: 328.9252
• 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

+236.4% since first listed

8 events — show timeline

• 2026-02-24 Pending — UNYREIS
• 2026-01-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-28 Contingent — UNYREIS
• 2026-01-12 Listed $148,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-12 Listed $148,000 UNYREIS
• 2006-10-27 Sold (Public Records) $110,000 Public Records
• 2002-08-23 Sold (Public Records) $53,000 Public Records
• 2001-10-29 Sold (Public Records) $44,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,889 · +3.2% YoY. Source: county tax records.