15571 State Highway 23 · Davenport Center, NY 13751

$179,000

3 bd · 1.5 ba · 1,762 sqft · SingleFamily public records · 35 Days on market

Built 1900 0.25 ac lot $102/sqft · 6% below area Est $216k · 17% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.9/10.0

Listing remarks MLS

Discover the charm of village living at 15571 State Highway 23, a traditional two-story residence that perfectly balances historic character with modern potential. Built in 1900 and nestled in the heart of Davenport, New York, this three-bedroom, 1.5-bathroom home offers a unique opportunity to plant roots in the scenic Delaware County countryside. Whether you are looking for a primary residence or a promising investment, this property serves as a solid foundation for your future memories. Step inside to find a thoughtful layout designed for everyday comfort. The main floor features an inviting eat-in kitchen equipped with stainless steel appliances and elegant quartz counters, perfect for casual morning coffee or preparing farm-to-table feasts. A formal dining room sets the stage for holiday gatherings, while the laundry is conveniently located on the first floor to simplify your routine. With a dedicated office and an enclosed porch, you have plenty of versatile space to work from home or unwind with a good book. Upstairs, you will find three comfortable bedrooms and a full bath, providing a private retreat for the whole family. The exterior of this single-family home is great for a hobbyist or car enthusiast, the property includes a two-car detached garage with a double-wide driveway, offering ample room for vehicles, tools, and creative projects. Situated on a quarter-acre lot, the yard provides just enough space for outdoor enjoyment without overwhelming maintenance. Location is everything, and this Davenport gem delivers. You are just a short walk from the local school and a quick ten-minute drive to the vibrant shops, restaurants, and amenities of Oneonta. Enjoy the tranquility of a quiet neighborhood while staying connected to the heart of the community. Offered as-is and ready for your personal touch, this home is a rare find in today's market. Don't miss your chance to secure a slice of Davenport charm where the history is rich and the living is easy. Your next chapter starts here!

Key facts

• Quartz counters
• Formal dining room
• Historic character

Tags

• HISTORIC CHARACTER
• SCENIC DELAWARE COUNTY
• EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERS
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (19.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (28.6% below list).
• Recommended offer: $128k (28.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#1,049 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment C-, health & safety C-, schools F.
• Charlotte Valley Central School District (rural): math 35% / reading 45% proficiency, ranked #640 of 755 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 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 $7k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Delaware County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $127,835 (28.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.83%
• DSCR: 0.79
• GRM: 11.7

CMA / ARV

• ARV (median comp): $216,343
• List price: $179,000
• Delta: -17.26%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.0%
• Equity multiple: 1.17×
• Total profit: $8,726
• Equity at exit: $80,486

10-year hold

• IRR: 6.4%
• Equity multiple: 1.98×
• Total profit: $49,093
• Equity at exit: $124,039

Cash invested: $50,120 (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 13751

• Active inventory: 2
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$198 /mo · $2,379/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-202

Break-even live

Break-even rent $1,534

Max offer price $143,385

Occupancy floor —

Sensitivity live

Price	-10% $-100	-5% $-151	+0% $-202	+5% $-252	+10% $-303
Rent	-10% $-303	-5% $-252	+0% $-202	+5% $-151	+10% $-101
Rate	-1.0pp $-111	-0.5pp $-156	base $-202	+0.5pp $-248	+1.0pp $-295

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-15
   listed $179,000 Active 2026-char remark

   Show marketing remark (2026 chars)

   Discover the charm of village living at 15571 State Highway 23, a traditional two-story residence that perfectly balances historic character with modern potential. Built in 1900 and nestled in the heart of Davenport, New York, this three-bedroom, 1.5-bathroom home offers a unique opportunity to plant roots in the scenic Delaware County countryside. Whether you are looking for a primary residence or a promising investment, this property serves as a solid foundation for your future memories. Step inside to find a thoughtful layout designed for everyday comfort. The main floor features an inviting eat-in kitchen equipped with stainless steel appliances and elegant quartz counters, perfect for casual morning coffee or preparing farm-to-table feasts. A formal dining room sets the stage for holiday gatherings, while the laundry is conveniently located on the first floor to simplify your routine. With a dedicated office and an enclosed porch, you have plenty of versatile space to work from home or unwind with a good book. Upstairs, you will find three comfortable bedrooms and a full bath, providing a private retreat for the whole family. The exterior of this single-family home is great for a hobbyist or car enthusiast, the property includes a two-car detached garage with a double-wide driveway, offering ample room for vehicles, tools, and creative projects. Situated on a quarter-acre lot, the yard provides just enough space for outdoor enjoyment without overwhelming maintenance. Location is everything, and this Davenport gem delivers. You are just a short walk from the local school and a quick ten-minute drive to the vibrant shops, restaurants, and amenities of Oneonta. Enjoy the tranquility of a quiet neighborhood while staying connected to the heart of the community. Offered as-is and ready for your personal touch, this home is a rare find in today's market. Don't miss your chance to secure a slice of Davenport charm where the history is rich and the living is easy. Your next chapter starts here!

ⓘ 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: $2,379 · $198/mo
• Projected year-2 tax: $2,702 · $225/mo
• Expected delta: +$323/yr (+$27/mo · 13.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,340
• − Mortgage interest: −$10,027
• − Property taxes: −$2,379
• − Insurance: −$895
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$5,207
• Taxable loss: −$5,622
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $-1,070/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: Charlotte Valley Central School District
• NCES district ID: 3607050
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $47,579
• Composite: 36.67/100
• National rank: #9236
• State rank: #640 of 755 in NY

Livability — Davenport Center

• Score: 58/100
• State rank: #1049
• US rank: #20806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 334

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Portuguese 2%
• Languages at home: 88% English-only · German/W. Germanic 12%

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: —
• Current HPI: —
• 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

• 2026-04-15 Listed $179,000 UNYREIS

Property tax history

+8.2%/yr

Latest (2025): $2,379 · +1.5% YoY. Source: county tax records.