5359 Main St Unit 2h. · Windham, NY 12496

$289,000

2 bd · 1.0 ba · 838 sqft · Townhouse public records · 89 Days on market

Built 2008 435 sqft lot $345/sqft · 6% above area Est $273k · 6% over

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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).

• Cash flow +9.7/30.0
• Appreciation +7.5/10.0
• ARV discount +4.8/15.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

Prime Windham Village Location - Step out your door and wander to restaurants, the farmers market, local brewery, miniature golf, movies, and year-round town events. Convenient NYC bus access just moments away makes this the perfect easy escape. Only minutes to Windham Mountain skiing and nearby golf courses, this desirable 2-bedroom, 2-bath condo with slope views offers both lifestyle and location. Just off the parking lot, relax by the Batavia Kill Creek. A true condo with character, featuring original wood floors, a warm and inviting gas woodstove, and a private deck overlooking the slopes--ideal for après-ski or summer evenings. Located on second story and then one level living Whether you're seeking a weekend retreat, full-time getaway, or investment opportunity, this Village gem delivers charm, convenience, and four-season appeal in one of Windham's most walkable settings. HOA 330.32

Key facts

• Private deck
• Original wood floors
• Nyc bus access

Tags

• WINDHAM VILLAGE LOCATION
• NYC BUS ACCESS
• WINDHAM MOUNTAIN SKIING
• ORIGINAL WOOD FLOORS
• GAS WOODSTOVE
• PRIVATE DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $289k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (30.8% below list).
• Recommended offer: $200k (30.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.4% in Windham — 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 60/100 on livability (#964 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools C-, crime D+, cost of living D+.
• Windham-Ashland-Jewett Central School District (rural): math 55% / reading 40% proficiency, ranked #517 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (5.1% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $250k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $200,000 (30.8% 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 89 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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 D 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. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 12.0

CMA / ARV

• ARV (median comp): $272,897
• List price: $289,000
• Delta: 5.90%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

5.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.68×
• Total profit: $55,328
• Equity at exit: $164,757

10-year hold

• IRR: 11.9%
• Equity multiple: 3.19×
• Total profit: $177,134
• Equity at exit: $285,166

Cash invested: $80,920 (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 12496

• Home prices YoY: 1.2%
• Active inventory: 141
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-190

Break-even live

Break-even rent $2,240

Max offer price $255,442

Occupancy floor —

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Brainard Ridge Rd Windham, NY	3.0	2.0	786	$2,000	$2.54	23d	1	1.04mi

Listing history 18 events

1. 2026-06-18
   days on market $289,000 Active 89 DOM
2. 2026-06-17
   days on market $289,000 Active 88 DOM
3. 2026-06-16
   days on market $289,000 Active 87 DOM
4. 2026-06-15
   days on market $289,000 Active 86 DOM
5. 2026-06-13
   days on market $289,000 Active 84 DOM
6. 2026-06-12
   days on market $289,000 Active 83 DOM
7. 2026-06-09
   days on market $289,000 Active 80 DOM
8. 2026-06-08
   days on market $289,000 Active 79 DOM
9. 2026-06-07
   days on market $289,000 Active 78 DOM
10. 2026-06-07
    days on market $289,000 Active 77 DOM
11. 2026-06-04
    days on market $289,000 Active 74 DOM
12. 2026-06-02
    days on market $289,000 Active 73 DOM
13. 2026-06-01
    days on market $289,000 Active 72 DOM
14. 2026-05-31
    days on market $289,000 Active 71 DOM
15. 2026-03-21
    listed $289,000 Active 917-char remark

    Show marketing remark (917 chars)

    Prime Windham Village Location - Step out your door and wander to restaurants, the farmers market, local brewery, miniature golf, movies, and year-round town events. Convenient NYC bus access just moments away makes this the perfect easy escape. Only minutes to Windham Mountain skiing and nearby golf courses, this desirable 2-bedroom, 2-bath condo with slope views offers both lifestyle and location. Just off the parking lot, relax by the Batavia Kill Creek. A true condo with character, featuring original wood floors, a warm and inviting gas woodstove, and a private deck overlooking the slopes--ideal for après-ski or summer evenings. Located on second story and then one level living Whether you're seeking a weekend retreat, full-time getaway, or investment opportunity, this Village gem delivers charm, convenience, and four-season appeal in one of Windham's most walkable settings. HOA 330.32

16. 2022-10-07
    soldstatus $250,000
17. 2021-04-09
    soldstatus $225,000 503-char remark

    Show marketing remark (503 chars)

    Condo's with Character located in the heart of Windham Village and walking distance to restaurants, NYC Bus Route, movies, Slopes and Golf Course. This Condo is one level on the second floor with ample parking and Great Views of the Slopes. Windham is a Four Seasons community and perfect for the outdoor enthusiast with hiking paths, walking paths, golf courses, skiing, mountain biking and so much more. For the investor, seller also owns a one bedroom listed at $145,000 and will make a deal for both

18. 2020-12-31
    listed $195,000 503-char remark

    Show marketing remark (503 chars)

    Condo's with Character located in the heart of Windham Village and walking distance to restaurants, NYC Bus Route, movies, Slopes and Golf Course. This Condo is one level on the second floor with ample parking and Great Views of the Slopes. Windham is a Four Seasons community and perfect for the outdoor enthusiast with hiking paths, walking paths, golf courses, skiing, mountain biking and so much more. For the investor, seller also owns a one bedroom listed at $145,000 and will make a deal for both

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $3,246 · $271/mo
• Expected delta: +$1,638/yr (+$137/mo · 101.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$16,188
• − Property taxes: −$1,608
• − Insurance: −$1,445
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$8,407
• Taxable loss: −$7,489
• Est. tax savings @ 24.0%: +$1,797
• After-tax cash flow: $-482/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: Windham-Ashland-Jewett Central School District
• NCES district ID: 3631590
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $46,942
• Composite: 42.57/100
• National rank: #6842
• State rank: #517 of 755 in NY

Livability — Windham

• Score: 60/100
• State rank: #964
• US rank: #18888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windham, NY
• Population (ZIP): 1,241

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Hispanic 4% Lithuanian 3%
• Foreign-born: 18% · Canada
• Languages at home: 75% English-only · Russian/Polish/Slavic 10% French/Haitian/Cajun 7% Other Indo-European 4%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.06%
• Current HPI: 425.2138
• 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

+48.2% since first listed

4 events — show timeline

• 2026-03-21 Listed $289,000 HVCRMLS
• 2022-10-07 Sold (Public Records) $250,000 Public Records
• 2021-04-09 Sold (MLS) $225,000 HVCRMLS
• 2020-12-31 Listed $195,000 HVCRMLS

Property tax history

-7.0%/yr

Latest (2025): $1,608 · +3.5% YoY. Source: county tax records.