1 Main St · Cherry Valley, NY 13320

$539,900

None bd · None ba · 9,630 sqft · MultiFamily public records · 107 Days on market

Built 1900 6,534 sqft lot $56/sqft · 63% below area

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Commanding the corner in the heart of Historic Cherry Valley, 1 Main Street is a landmark mixed-use investment property offering over 9,000 square feet of income-producing space. This impressive multi-story brick building blends timeless architecture with strong commercial visibility, featuring a ground-level storefront and 9+ residential apartments above. Its prominent Main Street location places tenants and customers within steps of village shops, dining, and local amenities, while the building’s classic brick façade, wraparound porches, and corner presence create undeniable curb appeal. The scale and layout of the property present exceptional flexibility for investors seeking steady rental income, future value-add potential, or a flagship asset in a charming historic community. With multiple revenue streams already established and room to enhance long-term returns, this is a rare opportunity to own one of Cherry Valley’s signature buildings. Whether expanding a portfolio or securing a cornerstone investment in a desirable village setting, 1 Main Street delivers location, character, and opportunity in one compelling package.

Key facts

• Main street location
• Classic brick façade
• 6,534 sq ft lot

Tags

• MIXED-USE INVESTMENT PROPERTY
• INCOME-PRODUCING SPACE
• GROUND-LEVEL STOREFRONT
• RESIDENTIAL APARTMENTS
• MAIN STREET LOCATION
• CLASSIC BRICK FAÇADE

What this means for you Summary

Snapshot

• This is a multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $540k).
• Recommended offer: $491k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#990 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: schools C-, health & safety C-, employment D.
• Cherry Valley-Springfield Central School District (rural): math 45% / reading 45% proficiency, ranked #564 of 755 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $151k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($491k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $185k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; list at $540k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $491,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.71% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.08%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $1,462,054
• List price: $539,900
• Delta: -63.07%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.6%
• Equity multiple: 4.44×
• Total profit: $519,532
• Equity at exit: $486,385

10-year hold

• IRR: 39.5%
• Equity multiple: 9.95×
• Total profit: $1,353,036
• Equity at exit: $1,048,907

Cash invested: $151,172 (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 13320

• Home prices YoY: 2.4%
• Active inventory: 17
• Price-to-rent: 43.9×

Monthly cashflow live

• Estimated rent: $9,228 medium
• Mortgage (P&I): −$2,831
• Tax from tax record: −$696 /mo · $8,351/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,938
• Net cashflow: $3,538

Break-even live

Break-even rent $4,750

Max offer price $539,900

Occupancy floor 57%

Sensitivity live

Price	-10% $3,844	-5% $3,691	+0% $3,538	+5% $3,385	+10% $3,232
Rent	-10% $2,809	-5% $3,173	+0% $3,538	+5% $3,902	+10% $4,267
Rate	-1.0pp $3,810	-0.5pp $3,675	base $3,538	+0.5pp $3,398	+1.0pp $3,256

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$9,225
Total (9 units)			$9,228

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: $134,975
• Closing costs: $16,197
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $539,900 Active 107 DOM
2. 2026-06-17
   days on market $539,900 Active 106 DOM
3. 2026-06-16
   days on market $539,900 Active 105 DOM
4. 2026-06-16
   price $539,900 Active 104 DOM
5. 2026-06-15
   days on market $589,000 Active 104 DOM
6. 2026-06-13
   days on market $589,000 Active 102 DOM
7. 2026-06-12
   days on market $589,000 Active 101 DOM
8. 2026-06-09
   days on market $589,000 Active 98 DOM
9. 2026-06-08
   days on market $589,000 Active 97 DOM
10. 2026-06-07
    days on market $589,000 Active 96 DOM
11. 2026-06-07
    days on market $589,000 Active 95 DOM
12. 2026-06-04
    pricedays on market $589,000 Active 92 DOM
13. 2026-06-02
    days on market $649,999 Active 91 DOM
14. 2026-06-01
    days on market $649,999 Active 90 DOM
15. 2026-05-31
    days on market $649,999 Active 89 DOM
16. 2026-04-20
    price $649,999 1163-char remark

    Show marketing remark (1163 chars)

    Commanding the corner in the heart of Historic Cherry Valley, 1 Main Street is a landmark mixed-use investment property offering over 9,000 square feet of income-producing space. This impressive multi-story brick building blends timeless architecture with strong commercial visibility, featuring a ground-level storefront and 9+ residential apartments above. Its prominent Main Street location places tenants and customers within steps of village shops, dining, and local amenities, while the building’s classic brick façade, wraparound porches, and corner presence create undeniable curb appeal. The scale and layout of the property present exceptional flexibility for investors seeking steady rental income, future value-add potential, or a flagship asset in a charming historic community. With multiple revenue streams already established and room to enhance long-term returns, this is a rare opportunity to own one of Cherry Valley’s signature buildings. Whether expanding a portfolio or securing a cornerstone investment in a desirable village setting, 1 Main Street delivers location, character, and opportunity in one compelling package.

17. 2026-03-09
    price $699,999 1163-char remark

    Show marketing remark (1163 chars)

    Commanding the corner in the heart of Historic Cherry Valley, 1 Main Street is a landmark mixed-use investment property offering over 9,000 square feet of income-producing space. This impressive multi-story brick building blends timeless architecture with strong commercial visibility, featuring a ground-level storefront and 9+ residential apartments above. Its prominent Main Street location places tenants and customers within steps of village shops, dining, and local amenities, while the building’s classic brick façade, wraparound porches, and corner presence create undeniable curb appeal. The scale and layout of the property present exceptional flexibility for investors seeking steady rental income, future value-add potential, or a flagship asset in a charming historic community. With multiple revenue streams already established and room to enhance long-term returns, this is a rare opportunity to own one of Cherry Valley’s signature buildings. Whether expanding a portfolio or securing a cornerstone investment in a desirable village setting, 1 Main Street delivers location, character, and opportunity in one compelling package.

18. 2026-03-03
    listed $725,000 Active 1163-char remark

    Show marketing remark (1163 chars)

    Commanding the corner in the heart of Historic Cherry Valley, 1 Main Street is a landmark mixed-use investment property offering over 9,000 square feet of income-producing space. This impressive multi-story brick building blends timeless architecture with strong commercial visibility, featuring a ground-level storefront and 9+ residential apartments above. Its prominent Main Street location places tenants and customers within steps of village shops, dining, and local amenities, while the building’s classic brick façade, wraparound porches, and corner presence create undeniable curb appeal. The scale and layout of the property present exceptional flexibility for investors seeking steady rental income, future value-add potential, or a flagship asset in a charming historic community. With multiple revenue streams already established and room to enhance long-term returns, this is a rare opportunity to own one of Cherry Valley’s signature buildings. Whether expanding a portfolio or securing a cornerstone investment in a desirable village setting, 1 Main Street delivers location, character, and opportunity in one compelling package.

19. 2022-06-17
    historical
20. 2021-07-22
    historical
21. 2021-06-19
    listed $209,000
22. 2020-10-26
    listed $249,000
23. 2020-10-26
    listed $209,000
24. 2003-10-30
    soldstatus $165,000

ⓘ 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: $8,351 · $696/mo
• Projected year-2 tax: $8,737 · $728/mo
• Expected delta: +$387/yr (+$32/mo · 4.6%)

ⓘ 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 1/10 Low
• 🌡 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: $110,736
• − Mortgage interest: −$30,243
• − Property taxes: −$8,351
• − Insurance: −$2,700
• − Repairs & maintenance: −$8,859
• − Management: −$8,859
• − Depreciation: −$15,706
• Taxable income: $36,019
• Est. tax owed @ 24.0%: −$8,645
• After-tax cash flow: $33,811/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: Cherry Valley-Springfield Central School District
• NCES district ID: 3600006
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $49,619
• Composite: 40.82/100
• National rank: #7553
• State rank: #564 of 755 in NY

Livability — Cherry Valley

• Score: 60/100
• State rank: #990
• US rank: #19371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherry Valley, NY
• Population (ZIP): 2,027

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Iranian 8% Romanian 4% Italian 4%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 93% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.81%
• Current HPI: 462.6521
• 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

+293.9% since first listed

9 events — show timeline

• 2026-04-20 Price Changed $649,999 CNYIS
• 2026-03-09 Price Changed $699,999 CNYIS
• 2026-03-03 Listed $725,000 CNYIS
• 2022-06-17 Listing Removed — Global MLS
• 2021-07-22 Listing Removed — UNYREIS
• 2021-06-19 Listed $209,000 UNYREIS
• 2020-10-26 Listed $209,000 Global MLS
• 2020-10-26 Listed $249,000 UNYREIS
• 2003-10-30 Sold (Public Records) $165,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $8,351 · +43.5% YoY. Source: county tax records.