45 Windham Ridge Rd Unit C · Windham, NY 12496

$269,000

2 bd · 2.5 ba · 1,058 sqft · Condo · 170 Days on market

Built 1986 Good condition $254/sqft · at area comps Est $280k · at est. $183/mo HOA · 6% of rent ↓ 4% since listing

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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 +17.7/30.0
• ARV discount +9.2/15.0
• Appreciation +7.5/10.0
• 1% rule +5.6/10.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks

Nestled in the heart of the Catskills, this beautifully updated 2-bedroom, 2.5-bath townhome offers stunning views of Windham Mountain Club and the perfect blend of comfort, style, and four-season recreation. Featuring approximately 1,300 square feet of living space, this turnkey retreat showcases a newly remodeled kitchen with quartz countertops, new appliances, and modern finishes throughout. Relax by the cozy wood burning fireplace after a day on the slopes or enjoy your morning coffee from one of the double rear balconies overlooking the mountain scenery. Each spacious bedroom features its own private ensuite bathroom, plus an additional half bath for guests.

Key facts

• Minutes from skiing
• Airbnb potential
• Updated townhome

Tags

• UPDATED TOWNHOME
• NEWLY REMODELED KITCHEN
• DOUBLE REAR BALCONIES
• PRIVATE ENSUITE BATHROOM
• AIRBNB POTENTIAL
• MINUTES FROM SKIING

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $269k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.8% in Windham — 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 60/100 on livability (#964 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools C-, crime D+, cost of living D+.
• Windham-Ashland-Jewett Central School District (rural): math 55% / reading 40% proficiency, ranked #517 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 212 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• At $2,857/mo this rent would consume 50% of the median local household income ($68k/yr) (locally 38% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($2k loan paydown + $14k appreciation (5.1% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.

Recommended offer $236,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 7.8

CMA / ARV

• ARV (median comp): $279,864
• List price: $269,000
• Delta: -3.88%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Windham Ridge Rd Unit 16h	0.05mi	2/2.5	1,058 (0%)	9mo	$310,000	$293	90
113 Windham Ridge Rd	0.10mi	2/2.0	1,024 (-3%)	7mo	$240,000	$234	82
63 Windham Ridge Rd Unit 16c	0.04mi	2/2.5	1,178 (+11%)	5mo	$250,000	$212	75
79 Windham Ridge Rd Unit 17A	0.07mi	2/2.5	1,211 (+14%)	14mo	$269,000	$222	61
91 Windham Ridge Road Rd Unit 18B	0.10mi	2/1.0	936 (-12%)	12mo	$220,000	$235	60
36 Loo Bridge Ln	0.04mi	2/2.5	1,211 (+14%)	18mo	$280,000	$231	59
66 Loo Bridge Lane Ln Unit 12G	0.06mi	2/2.5	1,211 (+14%)	25mo	$340,000	$281	53
21 Nauvoo Rd	1.40mi	2/1.5	1,072 (+1%)	13mo	$520,000	$485	48
31 French Park Dr	0.12mi	3/2.0 (+1)	1,288 (+22%)	26mo	$385,000	$299	42
10 Enclave North Drive Dr #309	1.50mi	2/2.0	984 (-7%)	18mo	$550,000	$559	36
274 Route 65 #29	0.56mi	2/2.0	1,295 (+22%)	31mo	$265,000	$205	27
26 Mill St	0.92mi	3/1.0 (+1)	824 (-22%)	20mo	$150,000	$182	12

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

Projected returns pro-forma

5.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.02×
• Total profit: $76,727
• Equity at exit: $153,355

10-year hold

• IRR: 16.4%
• Equity multiple: 3.92×
• Total profit: $220,044
• Equity at exit: $265,431

Cash invested: $75,320 (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 12496

• Home prices YoY: 1.2%
• Active inventory: 212
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,857 medium
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$183
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $215

Break-even live

Break-even rent $2,585

Max offer price $269,000

Occupancy floor 87%

Sensitivity live

Price	-10% $401	-5% $308	+0% $215	+5% $122	+10% $29
Rent	-10% $-10	-5% $102	+0% $215	+5% $328	+10% $441
Rate	-1.0pp $351	-0.5pp $284	base $215	+0.5pp $146	+1.0pp $75

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: $67,250
• Closing costs: $8,070
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5494 New York 23 Unit upstairs Windham, NY	3.0	1.0	1000	$1,600	$1.60	19d	1	0.97mi
60 Bell Hill Rd Windham, NY	2.0	1.0	1024	$1,600	$1.56	51d	1	1.09mi
53 Windham Mountain Vlg Windham, NY	2.0	2.0	1390	$7,000	$5.04	0d	1	1.35mi

Property features AI

Finance

• Financial info: Pets allowed: cats and dogs
• HOA & community: Windham Ridge Home associationQuarterly association fee of $549Association covers snow removal and trash

Exterior

• Parking: Assigned parkingTwo spaces (no garage)
• Utilities: Public water connectedSewer connectedCircuit breaker electric
• Home design: 2-story propertyResale conditionHas a view
• Construction: Frame construction with wood sidingAsphalt roofCrawl space foundationExisting (established) building
• Exterior features: BalconyDeckRectangular lot

Interior

• Kitchen: Electric oven and electric rangeMicrowaveDishwasherRefrigeratorBreakfast bar
• Bedrooms: Total rooms: 6
• Flooring: CarpetHardwoodTileVaried flooring
• Bathrooms: 2 full bathrooms1 half bathroom1 main-level bathroom
• Heating & cooling: Electric forced-air heating
• Interior features: Drapes and window treatmentsBreakfast barOpen living/dining roomQuartz and solid surface countersFurnished
• Laundry & utility: WasherDryerElectric water heater

HOA detail $183/mo · $2,196/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $269,000 Active 170 DOM
2. 2026-11-07
   days on market $269,000 Active 169 DOM
3. 2026-11-06
   days on market $269,000 Active 168 DOM
4. 2026-11-05
   days on market $269,000 Active 167 DOM
5. 2026-11-04
   days on market $269,000 Active 166 DOM
6. 2026-11-02
   days on market $269,000 Active 164 DOM
7. 2026-11-01
   days on market $269,000 Active 163 DOM
8. 2026-10-31
   days on market $269,000 Active 162 DOM
9. 2026-10-31
   days on market $269,000 Active 161 DOM
10. 2026-10-29
    days on market $269,000 Active 160 DOM
11. 2026-10-28
    days on market $269,000 Active 159 DOM
12. 2026-10-27
    days on market $269,000 Active 158 DOM
13. 2026-10-26
    days on market $269,000 Active 157 DOM
14. 2026-10-25
    days on market $269,000 Active 156 DOM
15. 2026-10-24
    days on market $269,000 Active 155 DOM
16. 2026-10-23
    days on market $269,000 Active 154 DOM
17. 2026-10-22
    days on market $269,000 Active 153 DOM
18. 2026-10-22
    days on market $269,000 Active 152 DOM
19. 2026-10-20
    days on market $269,000 Active 151 DOM
20. 2026-10-19
    days on market $269,000 Active 150 DOM
21. 2026-10-18
    days on market $269,000 Active 149 DOM
22. 2026-10-17
    days on market $269,000 Active 148 DOM
23. 2026-10-16
    days on market $269,000 Active 147 DOM
24. 2026-10-15
    days on market $269,000 Active 146 DOM
25. 2026-10-14
    days on market $269,000 Active 145 DOM
26. 2026-10-13
    days on market $269,000 Active 144 DOM
27. 2026-10-12
    days on market $269,000 Active 143 DOM
28. 2026-10-11
    days on market $269,000 Active 142 DOM
29. 2026-10-10
    days on market $269,000 Active 141 DOM
30. 2026-10-09
    days on market $269,000 Active 140 DOM
31. 2026-10-08
    days on market $269,000 Active 139 DOM
32. 2026-10-07
    days on market $269,000 Active 138 DOM
33. 2026-10-06
    days on market $269,000 Active 137 DOM
34. 2026-10-05
    days on market $269,000 Active 136 DOM
35. 2026-10-04
    days on market $269,000 Active 135 DOM
36. 2026-10-03
    days on market $269,000 Active 134 DOM
37. 2026-10-02
    days on market $269,000 Active 133 DOM
38. 2026-10-01
    days on market $269,000 Active 132 DOM
39. 2026-09-30
    days on market $269,000 Active 131 DOM
40. 2026-09-29
    days on market $269,000 Active 130 DOM
41. 2026-09-28
    days on market $269,000 Active 129 DOM
42. 2026-09-27
    days on market $269,000 Active 128 DOM
43. 2026-09-26
    days on market $269,000 Active 127 DOM
44. 2026-09-25
    days on market $269,000 Active 126 DOM
45. 2026-09-24
    days on market $269,000 Active 125 DOM
46. 2026-09-23
    days on market $269,000 Active 124 DOM
47. 2026-09-21
    days on market $269,000 Active 122 DOM
48. 2026-09-20
    days on market $269,000 Active 121 DOM
49. 2026-09-19
    days on market $269,000 Active 120 DOM
50. 2026-09-19
    days on market $269,000 Active 119 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,287
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,743
• − Management: −$2,743
• − HOA: −$2,196
• − Depreciation: −$7,825
• Taxable loss: −$1,668
• Est. tax savings @ 24.0%: +$400
• After-tax cash flow: $2,983/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab Est. rehab $5,290–$15,870 screening

This well-maintained and updated 2-bedroom, 2.5-bath townhome in Windham Ridge Rd is ready for immediate move-in and offers a great blend of comfort and style.

Value-add opportunities

• Both Update flooring to modern materials — Modern flooring can enhance both resale and rental value. ↑
• Both Paint interior walls for a fresh look — Fresh paint can improve the home's curb appeal and interior aesthetics. ↑
• Both Install smart home technology — Smart home features can increase both resale and rental appeal by offering modern conveniences. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: Windham-Ashland-Jewett Central School District
• NCES district ID: 3631590
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $46,942
• Composite: 42.57/100
• National rank: #6842
• State rank: #517 of 755 in NY

C Composite livability gradescore 60/100

Livability — Windham

• Score: 60/100
• State rank: #964
• US rank: #18888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Greene · 44,963 people
• Population (ZIP): 1,241
• Household income: $68,173
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 38% of renters

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Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Languages at home: 75% English-only · Russian/Polish/Slavic 10% French/Haitian/Cajun 7% Other Indo-European 4%

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Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.06%
• Current HPI: 425.2138
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Pets allowed: cats and dogs
• HOA & community: Windham Ridge Home associationQuarterly association fee of $549Association covers snow removal and trash

Exterior

• Parking: Assigned parkingTwo spaces (no garage)
• Utilities: Public water connectedSewer connectedCircuit breaker electric
• Home design: 2-story propertyResale conditionHas a view
• Construction: Frame construction with wood sidingAsphalt roofCrawl space foundationExisting (established) building
• Exterior features: BalconyDeckRectangular lot

Interior

• Kitchen: Electric oven and electric rangeMicrowaveDishwasherRefrigeratorBreakfast bar
• Bedrooms: Total rooms: 6
• Flooring: CarpetHardwoodTileVaried flooring
• Bathrooms: 2 full bathrooms1 half bathroom1 main-level bathroom
• Heating & cooling: Electric forced-air heating
• Interior features: Drapes and window treatmentsBreakfast barOpen living/dining roomQuartz and solid surface countersFurnished
• Laundry & utility: WasherDryerElectric water heater

Price history

-3.9% since first listed

2 events — show timeline

• 2026-07-08 Price Changed $269,000 UNYREIS
• 2026-05-18 Listed $280,000 UNYREIS