1673 W Fulton Rd · Cobleskill, NY 12187

$229,900

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 77 Days on market

Built 2012 16 ac lot $192/sqft · 14% below area Est $266k · 14% 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 +19.4/30.0
• ARV discount +13.7/15.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• 1% rule +4.6/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Escape to your own secluded retreat with this fully off-grid cabin set on over 15 private acres of scenic countryside. Designed for simple, self-sufficient living without sacrificing comfort, this thoughtfully built property offers the perfect blend of independence, functionality, and natural beauty. Built in 2010 with durable 2x6 construction, oversized floors, and rafters rated for heavy snow loads, the home features 2 bedrooms, 1 full bath, and a warm, inviting interior with exposed beams and a cozy wood-burning fireplace. Perched in an elevated setting, you'll enjoy sweeping valley views and unmatched privacy. The property is fully equipped for year-round off-grid living with a reliable solar power system, upgraded AGM deep-cycle batteries (2023), and energy-efficient DC appliances, lighting, and systems--all optimized for sustainability and performance. Water is sourced from a pristine spring system, complete with a concrete spring box, 500-gallon buried storage tank, UV sanitation, and gravity-fed delivery throughout the home. The system is simple, efficient, and designed for ease of use in all seasons. A 500-gallon septic system and tankless propane water heater add to the home's practicality and comfort. Outdoor features elevate the experience even further, including multiple outbuildings, a large equipment shed with lean-to, additional storage near the home, and even a propane-fired hot tub for relaxing under the stars. Recent road improvements and a professionally constructed bridge ensure reliable access year-round. Whether you're seeking a weekend escape, hunting camp, or full-time off-grid lifestyle, this property offers peace, privacy, and true independence--all within reach of modern conveniences. A rare opportunity to own a turn-key off-grid property where everything has already been thoughtfully done for you.

Key facts

• Off-grid cabin
• Private acres
• Solar power system

Tags

• OFF-GRID CABIN
• PRIVATE ACRES
• SOLAR POWER SYSTEM
• SPRING SYSTEM
• TANKLESS PROPANE WATER HEATER
• PROPANE-FIRED HOT TUB

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (3.9% below list).
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.3% in Cobleskill — 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 62/100 on livability (#876 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety A; Watch: schools D, amenities F, commute F.
• Cobleskill-Richmondville Central School District (town): math 53% / reading 52% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% 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 $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $216,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

• ARV (median comp): $266,401
• List price: $229,900
• Delta: -13.70%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 3.20×
• Total profit: $141,471
• Equity at exit: $207,112

10-year hold

• IRR: 24.2%
• Equity multiple: 7.27×
• Total profit: $403,745
• Equity at exit: $446,645

Cash invested: $64,372 (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 12187

• Home prices YoY: 3.4%
• Active inventory: 10
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,209 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$188 /mo · $2,254/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $256

Break-even live

Break-even rent $1,885

Max offer price $229,900

Occupancy floor 83%

Sensitivity live

Price	-10% $386	-5% $321	+0% $256	+5% $191	+10% $126
Rent	-10% $81	-5% $169	+0% $256	+5% $343	+10% $430
Rate	-1.0pp $372	-0.5pp $314	base $256	+0.5pp $196	+1.0pp $136

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   statusdays on market $229,900 Pending 77 DOM
2. 2026-06-08
   days on market $229,900 Active 76 DOM
3. 2026-06-07
   days on market $229,900 Active 75 DOM
4. 2026-06-07
   days on market $229,900 Active 74 DOM
5. 2026-06-04
   days on market $229,900 Active 71 DOM
6. 2026-06-02
   days on market $229,900 Active 70 DOM
7. 2026-06-01
   days on market $229,900 Active 69 DOM
8. 2026-05-31
   days on market $229,900 Active 68 DOM
9. 2026-03-24
   listed $229,900 Active 1863-char remark

   Show marketing remark (1863 chars)

   Escape to your own secluded retreat with this fully off-grid cabin set on over 15 private acres of scenic countryside. Designed for simple, self-sufficient living without sacrificing comfort, this thoughtfully built property offers the perfect blend of independence, functionality, and natural beauty. Built in 2010 with durable 2x6 construction, oversized floors, and rafters rated for heavy snow loads, the home features 2 bedrooms, 1 full bath, and a warm, inviting interior with exposed beams and a cozy wood-burning fireplace. Perched in an elevated setting, you'll enjoy sweeping valley views and unmatched privacy. The property is fully equipped for year-round off-grid living with a reliable solar power system, upgraded AGM deep-cycle batteries (2023), and energy-efficient DC appliances, lighting, and systems--all optimized for sustainability and performance. Water is sourced from a pristine spring system, complete with a concrete spring box, 500-gallon buried storage tank, UV sanitation, and gravity-fed delivery throughout the home. The system is simple, efficient, and designed for ease of use in all seasons. A 500-gallon septic system and tankless propane water heater add to the home's practicality and comfort. Outdoor features elevate the experience even further, including multiple outbuildings, a large equipment shed with lean-to, additional storage near the home, and even a propane-fired hot tub for relaxing under the stars. Recent road improvements and a professionally constructed bridge ensure reliable access year-round. Whether you're seeking a weekend escape, hunting camp, or full-time off-grid lifestyle, this property offers peace, privacy, and true independence--all within reach of modern conveniences. A rare opportunity to own a turn-key off-grid property where everything has already been thoughtfully done for you.

10. 2015-12-05
    historical
11. 2015-09-09
    listed $79,900 Active
12. 2015-03-09
    historical
13. 2014-09-08
    listed $79,900

ⓘ 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: $2,254 · $188/mo
• Projected year-2 tax: $3,070 · $256/mo
• Expected delta: +$816/yr (+$68/mo · 36.2%)

ⓘ 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 7 d/yr ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $26,506
• − Mortgage interest: −$12,878
• − Property taxes: −$2,254
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − Depreciation: −$6,688
• Taxable loss: −$704
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $3,238/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: Cobleskill-Richmondville Central School District
• NCES district ID: 3600010
• Math proficiency: 53% ▲ 2.00%
• Reading proficiency: 52% ▲ 10.00%
• Median HH income: $49,555
• Composite: 44.83/100
• National rank: #2734
• State rank: #336 of 590 in NY

Livability — Cobleskill

• Score: 62/100
• State rank: #876
• US rank: #16581

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 739

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Black 1%
• Common ancestry: Slovak 14% Hungarian 3% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.73%
• Current HPI: 327.7722
• 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

+187.7% since first listed

5 events — show timeline

• 2026-03-24 Listed $229,900 Global MLS
• 2015-12-05 Listing Removed — Global MLS
• 2015-09-09 Listed $79,900 Global MLS
• 2015-03-09 Listing Removed — Global MLS
• 2014-09-08 Listed $79,900 Global MLS

Property tax history

+1.5%/yr

Latest (2025): $2,254 · -0.2% YoY. Source: county tax records.