20 Slater Rd · Windham, NY 12496

$449,000

4 bd · 2.0 ba · 1,942 sqft · SingleFamily public records · 358 Days on market

Built 1969 2.30 ac lot $231/sqft · at area comps Est $543k · 17% under

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Why this score? — see what drove the C- 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 +12.3/30.0
• Appreciation +7.5/10.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the perfect blend of charm, space, and convenience in this beautiful 4-bedroom, 2-bathroom countryside home, ideally located less than 3 hours from NYC. Set on scenic land in historic Windham NY. This vibrant small town is surrounded by renowned ski resorts; this is the ideal getaway or year-round residence. An exceptionally inviting home that is perfect for guests or extended family, on a separate level, that features living room, bedroom, wood burning stove and bathroom. Enjoy the peaceful sounds of nature, starry skies, and views — all while being just minutes from local shops, cafes, and outdoor adventures. Features include: 4 spacious bedrooms / 2 full bathrooms 3 woodburning stoves Tranquil setting on a double lot open property Minutes to CD Lane Park-beach front on the lake, basketball court, skate board ramps, gazebos for parties, hiking trails and play grounds for the young ones Minutes from charming upstate town & ski resorts Less than 3 hours to New York City Ideal for full-time living, weekend getaways, or investment This home offers the space you need, the serenity you crave, and the location you'll love. Call today to schedule a showing and experience this upstate gem in person!

Key facts

• Separate level
• Basketball court
• Historic windham ny

Tags

• HISTORIC WINDHAM NY
• SEPARATE LEVEL
• WOOD BURNING STOVE
• DOUBLE LOT OPEN PROPERTY
• BEACH FRONT ON THE LAKE
• BASKETBALL COURT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $434k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (22.9% below list).
• Recommended offer: $346k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($3k loan paydown + $23k 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 2, 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 358 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $449k implies a 221% gain — meaningful room to come down on a strong offer.

Recommended offer $346,292 (22.9% 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 358 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.77% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (median comp): $543,253
• List price: $449,000
• Delta: -17.35%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.3%
• Equity multiple: 1.79×
• Total profit: $99,486
• Equity at exit: $255,972

10-year hold

• IRR: 13.3%
• Equity multiple: 3.42×
• Total profit: $304,531
• Equity at exit: $443,044

Cash invested: $125,720 (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: 10.8×

Monthly cashflow live

• Estimated rent: $3,463 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$278 /mo · $3,330/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $-84

Break-even live

Break-even rent $3,569

Max offer price $434,248

Occupancy floor 97%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $449,000 Active 358 DOM
2. 2026-06-17
   days on market $449,000 Active 357 DOM
3. 2026-06-16
   days on market $449,000 Active 356 DOM
4. 2026-06-15
   days on market $449,000 Active 355 DOM
5. 2026-06-13
   days on market $449,000 Active 353 DOM
6. 2026-06-12
   days on market $449,000 Active 352 DOM
7. 2026-06-09
   days on market $449,000 Active 349 DOM
8. 2026-06-08
   days on market $449,000 Active 348 DOM
9. 2026-06-07
   days on market $449,000 Active 347 DOM
10. 2026-06-07
    days on market $449,000 Active 346 DOM
11. 2026-06-04
    days on market $449,000 Active 343 DOM
12. 2026-06-02
    days on market $449,000 Active 342 DOM
13. 2026-06-01
    days on market $449,000 Active 341 DOM
14. 2026-05-31
    days on market $449,000 Active 340 DOM
15. 2025-07-18
    price $449,000 1240-char remark

    Show marketing remark (1240 chars)

    Discover the perfect blend of charm, space, and convenience in this beautiful 4-bedroom, 2-bathroom countryside home, ideally located less than 3 hours from NYC. Set on scenic land in historic Windham NY. This vibrant small town is surrounded by renowned ski resorts; this is the ideal getaway or year-round residence. An exceptionally inviting home that is perfect for guests or extended family, on a separate level, that features living room, bedroom, wood burning stove and bathroom. Enjoy the peaceful sounds of nature, starry skies, and views — all while being just minutes from local shops, cafes, and outdoor adventures. Features include: 4 spacious bedrooms / 2 full bathrooms 3 woodburning stoves Tranquil setting on a double lot open property Minutes to CD Lane Park-beach front on the lake, basketball court, skate board ramps, gazebos for parties, hiking trails and play grounds for the young ones Minutes from charming upstate town & ski resorts Less than 3 hours to New York City Ideal for full-time living, weekend getaways, or investment This home offers the space you need, the serenity you crave, and the location you'll love. Call today to schedule a showing and experience this upstate gem in person!

16. 2025-06-26
    listed $499,900 Active 1240-char remark

    Show marketing remark (1240 chars)

    Discover the perfect blend of charm, space, and convenience in this beautiful 4-bedroom, 2-bathroom countryside home, ideally located less than 3 hours from NYC. Set on scenic land in historic Windham NY. This vibrant small town is surrounded by renowned ski resorts; this is the ideal getaway or year-round residence. An exceptionally inviting home that is perfect for guests or extended family, on a separate level, that features living room, bedroom, wood burning stove and bathroom. Enjoy the peaceful sounds of nature, starry skies, and views — all while being just minutes from local shops, cafes, and outdoor adventures. Features include: 4 spacious bedrooms / 2 full bathrooms 3 woodburning stoves Tranquil setting on a double lot open property Minutes to CD Lane Park-beach front on the lake, basketball court, skate board ramps, gazebos for parties, hiking trails and play grounds for the young ones Minutes from charming upstate town & ski resorts Less than 3 hours to New York City Ideal for full-time living, weekend getaways, or investment This home offers the space you need, the serenity you crave, and the location you'll love. Call today to schedule a showing and experience this upstate gem in person!

17. 2003-03-18
    soldstatus $140,000

ⓘ 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: $3,330 · $278/mo
• Projected year-2 tax: $5,459 · $455/mo
• Expected delta: +$2,129/yr (+$177/mo · 63.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $41,555
• − Mortgage interest: −$25,151
• − Property taxes: −$3,330
• − Insurance: −$2,245
• − Repairs & maintenance: −$3,324
• − Management: −$3,324
• − Depreciation: −$13,062
• Taxable loss: −$8,882
• Est. tax savings @ 24.0%: +$2,132
• After-tax cash flow: $1,130/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

• 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

+220.7% since first listed

3 events — show timeline

• 2025-07-18 Price Changed $449,000 HVCRMLS
• 2025-06-26 Listed $499,900 HVCRMLS
• 2003-03-18 Sold (Public Records) $140,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,330 · +4.6% YoY. Source: county tax records.