500 Munn Rd · Delhi, NY 13856

$270,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 10 Days on market

Built 1995 3.50 ac lot

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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).

• Cash flow +21.7/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.5/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This well maintained property exemplifies pride of ownership and site design. The home itself is a 1995 doublewide manufactured home, with an inviting layout and plenty of living space. Enter from the enclosed 3 season covered porch (always a bonus to have that dedicated entry room for all your gear), past the laundry room, and into a spacious combination living-kitchen-dining area. The corner woodstove adds ambience and cost effective heating to the majority of the living area. A bar height island gives just enough separation for the spaces to feel discrete yet sensibly combined. One end of the home features the primary suite containing the large bedroom, walk-in closet, and full bathroom

Key facts

• Corner woodstove
• Full basement
• Bar height island

Tags

• CORNER WOODSTOVE
• BAR HEIGHT ISLAND
• FULL BASEMENT
• FULL SIZE WALKOUT DOOR
• DETACHED 32X24 WOODSHOP

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Well water; Septic tank
• Home design: Single-story (1 story); Double wide mobile body type; Existing construction
• Construction: Vinyl siding; Poured foundation
• Exterior features: Gravel driveway; Open porch; Pond on property; Barn(s), outbuilding(s), and storage/shed(s); Irregular, rural lot

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Refrigerator; Kitchen island
• Bedrooms: 4 main level bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl; Varies
• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 main level bathrooms
• Heating & cooling: Propane heating; Oil heating; Wood stove; Baseboard heating; Stove heating; Has heating
• Interior features: Cathedral ceilings; Kitchen island; Primary suite; Primary on main level; Bedroom on main level; Finished full basement; See remarks
• Laundry & utility: Washer; Dryer; Main level laundry; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).

Location & tenants

• Location reads 71/100 on livability (#393 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Walton Central School District (town): math 36% / reading 47% proficiency, ranked #510 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 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 $18k of equity ($2k loan paydown + $16k appreciation (5.8% 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 (5.8% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $270,000

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. 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.
3. 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.
4. 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: 1.05% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.34×
• Total profit: $101,141
• Equity at exit: $166,232

10-year hold

• IRR: 19.7%
• Equity multiple: 4.67×
• Total profit: $277,716
• Equity at exit: $298,476

Cash invested: $75,600 (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 13856

• Home prices YoY: 1.8%
• Active inventory: 57
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,830 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$292 /mo · $3,501/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $415

Break-even live

Break-even rent $2,304

Max offer price $270,000

Occupancy floor 80%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $270,000 Active 10 DOM
2. 2026-06-17
   days on market $270,000 Active 9 DOM
3. 2026-06-16
   days on market $270,000 Active 8 DOM
4. 2026-06-15
   days on market $270,000 Active 7 DOM
5. 2026-06-13
   days on market $270,000 Active 5 DOM
6. 2026-06-12
   days on market $270,000 Active 4 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $270,000 Active 1 DOM

ⓘ 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: $3,501 · $292/mo
• Projected year-2 tax: $4,032 · $336/mo
• Expected delta: +$531/yr (+$44/mo · 15.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 17 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: $33,959
• − Mortgage interest: −$15,124
• − Property taxes: −$3,501
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,717
• − Management: −$2,717
• − Depreciation: −$7,855
• Taxable income: $696
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $4,819/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: Walton Central School District
• NCES district ID: 3629820
• Math proficiency: 36% ▬ 0.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $41,231
• Composite: 34.86/100
• National rank: #5088
• State rank: #510 of 590 in NY

Livability — Delhi

• Score: 71/100
• State rank: #393
• US rank: #6820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,915

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 (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Iranian 7% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▲ 5.79%
• Current HPI: 331.9799
• 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

• 2026-06-08 Listed $270,000 UNYREIS

Property tax history

+5.5%/yr

Latest (2025): $3,501 · -0.2% YoY. Source: county tax records.