4056 State Route 26 · Hamilton, NY 13334

$35,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 20 Days on market

Built 1901 9,147 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits with this 3-bedroom, 1 full bathroom home offering endless potential for the right buyer or investor. This property is being sold as-is, making it an ideal project for investors, flippers, or buyers looking to bring their vision to life. With a functional layout and solid potential, this home could be transformed into a great rental property, resale opportunity, or affordable primary residence. Priced to reflect the work needed, this is your chance to invest in a property with upside potential. Bring your tools, ideas, and creativity — the possibilities are here!

Key facts

• 9,147 sq ft lot
• Built 1901
• Listed 20 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity available; High-speed internet available; Septic tank; Well water
• Home design: 2-story home; Resale property; Metal roof
• Construction: Vinyl siding; PEX plumbing; Block and stone foundation; Existing construction
• Exterior features: Covered porch; Gravel driveway; Rectangular lot (48 x 196) on a main thoroughfare

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Laminate; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Oil heating (see remarks)
• Interior features: Eat-in kitchen; Separate/formal living room; Full basement with sump pump
• Laundry & utility: Main-level laundry; Electric and oil water heaters

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.6% vs local median 1.3% in Hamilton — 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 72/100 on livability (#361 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, schools B+, crime B+; Watch: amenities F, commute F.
• Morrisville-Eaton Central School District (rural): math 59% / reading 72% proficiency, ranked #177 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (5.2% local appreciation)).
• Madison County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.14% ✓
• Cap rate: 25.60%
• Cash-on-cash: 68.97%
• DSCR: 4.07
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.7%
• Equity multiple: 5.54×
• Total profit: $44,467
• Equity at exit: $20,336

10-year hold

• IRR: 73.5%
• Equity multiple: 11.54×
• Total profit: $103,307
• Equity at exit: $35,519

Cash invested: $9,800 (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 13334

• Home prices YoY: 1.9%
• Active inventory: 9
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $563

Break-even live

Break-even rent $386

Max offer price $35,000

Occupancy floor 44%

Sensitivity live

Price	-10% $583	-5% $573	+0% $563	+5% $553	+10% $543
Rent	-10% $476	-5% $520	+0% $563	+5% $607	+10% $650
Rate	-1.0pp $581	-0.5pp $572	base $563	+0.5pp $554	+1.0pp $545

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   status $35,000 Pending 20 DOM
2. 2026-06-17
   days on market $35,000 Active 20 DOM
3. 2026-06-16
   days on market $35,000 Active 19 DOM
4. 2026-06-15
   days on market $35,000 Active 18 DOM
5. 2026-06-13
   days on market $35,000 Active 16 DOM
6. 2026-06-12
   days on market $35,000 Active 15 DOM
7. 2026-06-09
   days on market $35,000 Active 12 DOM
8. 2026-06-08
   days on market $35,000 Active 11 DOM
9. 2026-06-07
   days on market $35,000 Active 10 DOM
10. 2026-06-07
    pricedays on market $35,000 Active 9 DOM
11. 2026-06-04
    days on market $45,000 Active 6 DOM
12. 2026-06-02
    days on market $45,000 Active 5 DOM
13. 2026-06-01
    days on market $45,000 Active 4 DOM
14. 2026-05-31
    days on market $45,000 Active 3 DOM
15. 2026-05-28
    listed $45,000 Active

ⓘ 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: $1,278 · $107/mo
• Projected year-2 tax: $1,278 · $107/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 6/10 Major FEMA zone X · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 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: $13,183
• − Mortgage interest: −$1,961
• − Property taxes: −$1,278
• − Insurance: −$175
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$1,018
• Taxable income: $6,642
• Est. tax owed @ 24.0%: −$1,594
• After-tax cash flow: $5,165/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: Morrisville-Eaton Central School District
• NCES district ID: 3619920
• Math proficiency: 59% ▲ 12.00%
• Reading proficiency: 72% ▲ 17.00%
• Median HH income: $49,688
• Composite: 55.56/100
• National rank: #1239
• State rank: #177 of 590 in NY

Livability — Hamilton

• Score: 72/100
• State rank: #361
• US rank: #6150

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,275
• Population (ZIP): 887

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Polish 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 3%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.24%
• Current HPI: 278.0875
• 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

1 event — show timeline

• 2026-05-28 Listed $45,000 CNYIS

Property tax history

-1.8%/yr

Latest (2025): $1,278 · +1.7% YoY. Source: county tax records.