26 Iken Rd · Kerhonkson, NY 12446

$134,900

3 bd · 1.0 ba · 980 sqft · Manufactured public records · 267 Days on market

Built 1990 0.60 ac lot $138/sqft · 32% below area Est $199k · 32% under ↓ 20% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

AFFORDABLE manufactured home on .6 acres with a metal roof. Needs some TLC. Well, septic, electric all onsite. Live in while you renovate, renovate and move in, remove and build your dream home. This could also be a good rental income property with some TLC. The possibilities are endless. Any reasonable offer considered. Get your piece of Kerhonkson. Property being sold as is. Accepted offer

Key facts

• Electric onsite
• Metal roof
• Manufactured home

Tags

• MANUFACTURED HOME
• METAL ROOF
• WELL ONSITE
• SEPTIC ONSITE
• ELECTRIC ONSITE
• RENTAL INCOME PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.4% in Kerhonkson — 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 68/100 on livability (#552 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-; Watch: schools D, amenities F, health & safety D-.
• Rondout Valley Central School District (rural): math 39% / reading 51% proficiency, ranked #447 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 68 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Ulster County population projected at -14% 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $34k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.41% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.41%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

• ARV (median comp): $198,968
• List price: $134,900
• Delta: -32.20%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 39.5%
• Equity multiple: 4.03×
• Total profit: $114,369
• Equity at exit: $121,529

10-year hold

• IRR: 34.0%
• Equity multiple: 9.06×
• Total profit: $304,596
• Equity at exit: $262,081

Cash invested: $37,772 (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 12446

• Home prices YoY: 8.7%
• Active inventory: 68
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$99 /mo · $1,184/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $642

Break-even live

Break-even rent $1,092

Max offer price $134,900

Occupancy floor 61%

Sensitivity live

Price	-10% $719	-5% $681	+0% $642	+5% $604	+10% $566
Rent	-10% $492	-5% $567	+0% $642	+5% $718	+10% $793
Rate	-1.0pp $710	-0.5pp $677	base $642	+0.5pp $607	+1.0pp $572

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $134,900 Active 267 DOM
2. 2026-06-19
   days on market $134,900 Active 265 DOM
3. 2026-06-18
   days on market $134,900 Active 264 DOM
4. 2026-06-17
   days on market $134,900 Active 263 DOM
5. 2026-06-16
   days on market $134,900 Active 262 DOM
6. 2026-06-15
   days on market $134,900 Active 261 DOM
7. 2026-06-14
   days on market $134,900 Active 259 DOM
8. 2026-06-12
   days on market $134,900 Active 258 DOM
9. 2026-06-09
   days on market $134,900 Active 255 DOM
10. 2026-06-08
    days on market $134,900 Active 254 DOM
11. 2026-06-07
    days on market $134,900 Active 253 DOM
12. 2026-06-03
    days on market $134,900 Active 249 DOM
13. 2026-06-02
    days on market $134,900 Active 248 DOM
14. 2026-06-01
    days on market $134,900 Active 247 DOM
15. 2026-05-31
    days on market $134,900 Active 246 DOM
16. 2026-05-30
    days on market $134,900 Active 245 DOM
17. 2025-12-05
    price $134,900 398-char remark

    Show marketing remark (381 chars)

    Affordable . 6 acres with well, septic, electric and a manufactured home 14 x 70 with a metal roof. Add a new deck, some new sheetrock, and a new floor to make this home yours. Endless possibilities, renovate and use as income property, Live in as is, build your dream home on this spot. Get your piece of Kerhonkson . For sale in as is condition. All reasonable offers considered.

18. 2025-12-05
    price $134,900 381-char remark

    Show marketing remark (381 chars)

    Affordable . 6 acres with well, septic, electric and a manufactured home 14 x 70 with a metal roof. Add a new deck, some new sheetrock, and a new floor to make this home yours. Endless possibilities, renovate and use as income property, Live in as is, build your dream home on this spot. Get your piece of Kerhonkson . For sale in as is condition. All reasonable offers considered.

19. 2025-09-27
    listed $169,000 Active 381-char remark

    Show marketing remark (398 chars)

    AFFORDABLE manufactured home on .6 acres with a metal roof. Needs some TLC. Well, septic, electric all onsite. Live in while you renovate, renovate and move in, remove and build your dream home. This could also be a good rental income property with some TLC. The possibilities are endless. Any reasonable offer considered. Get your piece of Kerhonkson. Property being sold as is. Accepted offer

20. 2025-09-27
    listed $169,000 Active 398-char remark

    Show marketing remark (398 chars)

    AFFORDABLE manufactured home on .6 acres with a metal roof. Needs some TLC. Well, septic, electric all onsite. Live in while you renovate, renovate and move in, remove and build your dream home. This could also be a good rental income property with some TLC. The possibilities are endless. Any reasonable offer considered. Get your piece of Kerhonkson. Property being sold as is. Accepted offer

ⓘ 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: $1,184 · $99/mo
• Projected year-2 tax: $1,732 · $144/mo
• Expected delta: +$548/yr (+$46/mo · 46.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $22,856
• − Mortgage interest: −$7,556
• − Property taxes: −$1,184
• − Insurance: −$674
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$3,924
• Taxable income: $5,860
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $6,302/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: Rondout Valley Central School District
• NCES district ID: 3624960
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $59,408
• Composite: 39.5/100
• National rank: #3949
• State rank: #447 of 590 in NY

Livability — Kerhonkson

• Score: 68/100
• State rank: #552
• US rank: #9921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,232
• Population (ZIP): 5,232

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 13% Two or more races 11% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Iranian 8% Romanian 6% Italian 3%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.32%
• Current HPI: 380.6732
• 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

-20.2% since first listed

4 events — show timeline

• 2025-12-05 Price Changed $134,900 OneKey® MLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $134,900 HVCRMLS
• 2025-09-27 Listed $169,000 HVCRMLS
• 2025-09-27 Listed $169,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2025): $1,184 · +3.1% YoY. Source: county tax records.