1403 County Road 3 · Margaretville, NY 12455

$265,000

3 bd · 2.0 ba · 1,274 sqft · Manufactured public records · 27 Days on market

Built 1991 1.24 ac lot

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* * * * * Welcome to this charming double-wide pre-manufactured home, perfectly sited just outside the village for peaceful country living that’s still easily walkable to shops and cafés. A covered front porch welcomes you in, framed by attractive stone walls at the front of the property that add character and curb appeal. Inside, an eat-in kitchen features ample counter space and a dishwasher for easy meal prep and cleanup. Two full baths provide comfort and convenience for family and guests, and a laundry area with washer and dryer keeps chores simple. The bright, open living spaces flow toward a separate outdoor deck — an ideal spot for entertaining, morning coffee

Key facts

• Covered front porch
• Ample counter space
• Eat-in kitchen

Tags

• COVERED FRONT PORCH
• EAT-IN KITCHEN
• AMPLE COUNTER SPACE
• SEPARATE OUTDOOR DECK
• TWO-CAR GARAGE
• DELIGHTFUL OUTDOOR SPACES

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Well water; Septic tank
• Home design: Single-story home; Existing construction; Vinyl siding
• Construction: Block foundation; Vinyl siding construction
• Exterior features: Gravel driveway; Second garage (additional structure); Agricultural lot; Irregular lot dimensions: 177 x 285

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Coal heating
• Interior features: Eat-in kitchen; Separate/formal living room; Bedroom on main level; Bath in primary bedroom; Main level primary suite
• Laundry & utility: Main level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $265k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $261k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 + $12k 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 $74k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, 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 27 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.

Recommended offer $261,025 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.5%
• Equity multiple: 2.31×
• Total profit: $97,357
• Equity at exit: $140,025

10-year hold

• IRR: 21.5%
• Equity multiple: 4.50×
• Total profit: $259,524
• Equity at exit: $233,664

Cash invested: $74,200 (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: 7.2×

Monthly cashflow live

• Estimated rent: $3,073 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$208 /mo · $2,493/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $720

Break-even live

Break-even rent $2,162

Max offer price $265,000

Occupancy floor 72%

Sensitivity live

Price	-10% $870	-5% $795	+0% $720	+5% $645	+10% $570
Rent	-10% $477	-5% $598	+0% $720	+5% $841	+10% $963
Rate	-1.0pp $853	-0.5pp $787	base $720	+0.5pp $651	+1.0pp $581

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $265,000 Active 27 DOM
2. 2026-06-17
   days on market $265,000 Active 26 DOM
3. 2026-06-16
   days on market $265,000 Active 25 DOM
4. 2026-06-15
   days on market $265,000 Active 24 DOM
5. 2026-06-13
   days on market $265,000 Active 22 DOM
6. 2026-06-12
   days on market $265,000 Active 21 DOM
7. 2026-06-09
   days on market $265,000 Active 18 DOM
8. 2026-06-08
   days on market $265,000 Active 17 DOM
9. 2026-06-07
   days on market $265,000 Active 16 DOM
10. 2026-06-04
    days on market $265,000 Active 12 DOM
11. 2026-06-02
    days on market $265,000 Active 11 DOM
12. 2026-06-01
    days on market $265,000 Active 10 DOM
13. 2026-05-31
    days on market $265,000 Active 9 DOM
14. 2026-05-22
    listed $265,000 Active

ⓘ 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: $2,493 · $208/mo
• Projected year-2 tax: $3,486 · $290/mo
• Expected delta: +$993/yr (+$83/mo · 39.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥85°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: $36,876
• − Mortgage interest: −$14,844
• − Property taxes: −$2,493
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,950
• − Management: −$2,950
• − Depreciation: −$7,709
• Taxable income: $4,605
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $7,533/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: 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

• 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

• 2026-05-22 Listed $265,000 UNYREIS

Property tax history

+2.5%/yr

Latest (2025): $2,493 · +1.0% YoY. Source: county tax records.