646 Main St · Margaretville, NY 12455

$250,000

3 bd · 4.0 ba · 3,396 sqft · SingleFamily · 10 Days on market

Built 1950 Poor condition 1,742 sqft lot Est $438k · 43% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• Appreciation +7.2/10.0
• 1% rule +6.7/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Bring your vision to this mixed-use property located in the heart of the Margaretville Historic District. Featuring two storefronts and 3 apartments, this property offers excellent potential for investors, entrepreneurs, or those seeking a live-work opportunity While renovation is needed, the building could be transformed into a thriving income producing asset in a charming village setting. Conveniently located near local shops, dining, and year-round recreational attractions Endless possibilities await in this historic village gem. Building is partially gutted on the right side of the building--left side roof is newer and some what usable —currently hosting law office Bring your

Key facts

• Three apartments
• Two storefronts
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• TWO STOREFRONTS
• THREE APARTMENTS
• LIVE-WORK OPPORTUNITY
• HISTORIC DISTRICT
• LOCAL SHOPS

Property features AI

Finance

• Other: Frontage length reported as 0; Located in a flood zone
• Financial info: Multi-family building with 3 total units; Separate electric meters: 6; Operating expense details: see remarks; Owner pays: other (see remarks); Rent includes: see remarks

Exterior

• Parking: No driveway
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 3-story multi-unit building; Existing structure; Commercial zoning
• Construction: Frame and stone construction; Shingle roof; Built (existing) structure
• Exterior features: Open porch; River access and stream frontage on East Branch Delaware River; Rectangular lot near public transit; Located on a main thoroughfare; Property has a view

Interior

• Kitchen: Eat-in kitchen and kitchen with dining area in units
• Bedrooms: Multiple 1-bedroom units (unit-level details available)
• Flooring: Carpet; Vinyl; Varies by area
• Bathrooms: Four full bathrooms in the building; Each unit has a full bathroom
• Heating & cooling: Heating present; Oil heating (see remarks)
• Interior features: Carpet and vinyl flooring in varied areas; Crawl space basement
• Laundry & utility: Water heater; See remarks for additional appliances

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $250k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 9.1% vs local median 4.2% in Margaretville — 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 65/100 on livability (#711 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A, cost of living A-; Watch: employment D, schools F, crime F.
• Margaretville Central School District (rural): math 30% / reading 25% proficiency, ranked #734 of 755 in NY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 47 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 $13k of equity ($2k loan paydown + $11k appreciation (4.4% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $438,084
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 Swart Rd	0.63mi	3/3.5	2,898 (-15%)	6mo	$375,000	$129	40

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

Projected returns pro-forma

4.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.22×
• Total profit: $85,481
• Equity at exit: $132,099

10-year hold

• IRR: 20.2%
• Equity multiple: 4.30×
• Total profit: $231,294
• Equity at exit: $220,438

Cash invested: $70,000 (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 12455

• Home prices YoY: 1.2%
• Active inventory: 47
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,919 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $578

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $250,000 Active 10 DOM
2. 2026-06-17
   days on market $250,000 Active 9 DOM
3. 2026-06-16
   days on market $250,000 Active 8 DOM
4. 2026-06-15
   days on market $250,000 Active 7 DOM
5. 2026-06-13
   days on market $250,000 Active 5 DOM
6. 2026-06-12
   days on market $250,000 Active 4 DOM
7. 2026-06-09
   remarks 693-char remark
8. 2026-06-09
   listed $250,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $35,023
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,802
• − Management: −$2,802
• − Depreciation: −$7,273
• Taxable income: $3,143
• Est. tax owed @ 24.0%: −$754
• After-tax cash flow: $6,182/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 · 7 photos

Poor 20/100 Extensive rehab

This mixed-use property requires extensive renovation, including a new roof, siding, and interior repairs, to become a viable income-producing asset in the Margaretville Historic District.

Repairs flagged

• Major roof — Exposed beams and missing shingles
• Major exterior siding — Worn and debris
• Major flooring — Damaged carpet and debris
• Major interior walls — Exposed beams and debris
• Major systems — Exposed beams and debris

Value-add opportunities

• Both New roof — Critical to safety and appearance
• Both New siding — Improves curb appeal and durability
• Both New flooring — Enhances interior aesthetics and usability
• Both Interior repairs and painting — Restores functionality and enhances value
• Both New HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed beams and missing shingles	Major	$15,000–50,000
exterior siding · Worn and debris	Major	$15,000–50,000
flooring · Damaged carpet and debris	Major	$15,000–50,000
interior walls · Exposed beams and debris	Major	$15,000–50,000
systems · Exposed beams and debris	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New roof — Critical to safety and appearance ↑
• Both New siding — Improves curb appeal and durability ↑
• Both New flooring — Enhances interior aesthetics and usability ↑
• Both Interior repairs and painting — Restores functionality and enhances value ↑
• Both New HVAC system — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Margaretville Central School District
• NCES district ID: 3618510
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $42,369
• Composite: 26.35/100
• National rank: #12675
• State rank: #734 of 755 in NY

Livability — Margaretville

• Score: 65/100
• State rank: #711
• US rank: #13534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margaretville, NY
• Population (ZIP): 1,859

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 5% Iranian 3% Slovak 3%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 77% English-only · Spanish 12% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▲ 4.36%
• Current HPI: 355.7672
• 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

• 2026-03-17 Listed $250,000 UNYREIS