4108 State Route 26 · Hamilton, NY 13334

$84,900

4 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 78 Days on market

Built 1910 0.88 ac lot $56/sqft · 48% below area Est $162k · 48% under ↓ 15% since listing

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• Schools +5.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming older home full of character, located just minutes from Colgate University and the Village of Hamilton. This 4-bedroom, 1-bath home sits on nearly 1 acre, offering a peaceful country setting with convenient access to local amenities. Enjoy being close to state forests, waterfalls, and endless outdoor recreation opportunities.

Key facts

• Convenient access
• State forests
• 0.88 acre lot

Tags

• PEACEFUL COUNTRY SETTING
• CONVENIENT ACCESS
• STATE FORESTS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 $5k of equity ($587 loan paydown + $4k 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 5.1

CMA / ARV

• ARV (median comp): $162,194
• List price: $84,900
• Delta: -47.66%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5875 Brooklyn St	0.16mi	4/2.0	1,521 (+1%)	22mo	$68,000	$45	70
2756 English Ave	0.43mi	4/1.0	1,452 (-4%)	23mo	$195,000	$134	54
6041 Sherburne Rd	0.60mi	4/1.0	1,663 (+10%)	17mo	$79,000	$48	41

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

Projected returns pro-forma

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

5-year hold

• IRR: 28.6%
• Equity multiple: 2.81×
• Total profit: $42,986
• Equity at exit: $49,329

10-year hold

• IRR: 27.3%
• Equity multiple: 5.65×
• Total profit: $110,521
• Equity at exit: $86,160

Cash invested: $23,772 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$213 /mo · $2,557/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $348

Break-even live

Break-even rent $948

Max offer price $84,900

Occupancy floor 70%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $84,900 Active 78 DOM
2. 2026-06-17
   days on market $84,900 Active 77 DOM
3. 2026-06-16
   days on market $84,900 Active 76 DOM
4. 2026-06-15
   days on market $84,900 Active 75 DOM
5. 2026-06-13
   days on market $84,900 Active 73 DOM
6. 2026-06-12
   days on market $84,900 Active 72 DOM
7. 2026-06-09
   days on market $84,900 Active 69 DOM
8. 2026-06-08
   days on market $84,900 Active 68 DOM
9. 2026-06-07
   days on market $84,900 Active 67 DOM
10. 2026-06-07
    days on market $84,900 Active 66 DOM
11. 2026-06-04
    days on market $84,900 Active 63 DOM
12. 2026-06-02
    days on market $84,900 Active 62 DOM
13. 2026-06-01
    days on market $84,900 Active 61 DOM
14. 2026-05-31
    days on market $84,900 Active 60 DOM
15. 2026-05-14
    price $84,900 336-char remark

    Show marketing remark (336 chars)

    Charming older home full of character, located just minutes from Colgate University and the Village of Hamilton. This 4-bedroom, 1-bath home sits on nearly 1 acre, offering a peaceful country setting with convenient access to local amenities. Enjoy being close to state forests, waterfalls, and endless outdoor recreation opportunities.

16. 2026-04-01
    listed $99,900 Active 336-char remark

    Show marketing remark (336 chars)

    Charming older home full of character, located just minutes from Colgate University and the Village of Hamilton. This 4-bedroom, 1-bath home sits on nearly 1 acre, offering a peaceful country setting with convenient access to local amenities. Enjoy being close to state forests, waterfalls, and endless outdoor recreation opportunities.

ⓘ 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: $2,557 · $213/mo
• Projected year-2 tax: $2,557 · $213/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 7/10 Severe FEMA zone X · 99% 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: $16,663
• − Mortgage interest: −$4,756
• − Property taxes: −$2,557
• − Insurance: −$1,091
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$2,470
• Taxable income: $3,124
• Est. tax owed @ 24.0%: −$750
• After-tax cash flow: $3,424/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

-15.0% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $84,900 CNYIS
• 2026-04-01 Listed $99,900 CNYIS

Property tax history

+15.2%/yr

Latest (2025): $2,557 · +1.7% YoY. Source: county tax records.