970 State Route 26 · DeRuyter, NY 13072

$165,000

7 bd · 4.0 ba · 5,644 sqft · SingleFamily · 66 Days on market

Built 1847 Fair condition 0.31 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 +14.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Income-producing mixed-use property with significant value-add potential in Georgetown, NY. Formerly known as the Georgetown Inn, this mixed-use building offers multiple income streams and flexible zoning for both residential and commercial use. The property currently features three apartment units, including a fully remodeled 3-bedroom, 1-bath first-floor apartment that is move-in ready and ideal for immediate rental income. Upstairs, a 2-bedroom, 1-bath apartment is currently occupied and will be delivered vacant at closing, providing flexibility for owner occupancy or market-rate leasing. A second 2-bedroom, 2-bath apartment is well underway, with remaining materials included in the sale

Key facts

• Basement access
• Extra room
• Eat-in kitchen

Tags

• UPDATED APARTMENT UNITS
• FULLY REMODELED APARTMENT
• EAT-IN KITCHEN
• BASEMENT ACCESS
• EXTRA ROOM
• UPSTAIRS PORCH

Property features AI

Finance

• Financial info: Owner currently pays electricity, heat, hot water, snow removal, trash collection, and water; Operating expenses can include electric, fuel, insurance, maintenance, snow removal, trash, utilities, and water/sewer; Reported rents for units: one unit at $800, another at $1,500 (other unit rent not specified)

Exterior

• Parking: 2-car garage; Gravel/unpaved parking with two or more spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Septic tank sewer; High-speed internet available
• Home design: Multi-unit property with 3 total units; 2 stories
• Construction: Wood siding; Stone foundation; Existing construction (not new); Fixer / resale condition
• Exterior features: Open porch; Porch

Interior

• Kitchen: Unit kitchens include oven/range and refrigerator; Some units include microwave; Eat-in kitchen in some units
• Bedrooms: Multiple unit bedrooms: units include 2-bedroom and 3-bedroom layouts
• Flooring: Carpet; Hardwood; Tile; Varies by area/unit
• Bathrooms: Four full bathrooms total in the building; Individual units have 1–2 full bathrooms each
• Heating & cooling: Has heating; Oil heating available; Baseboard heating; Forced air
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup available; Electric water heater

What this means for you Summary

Snapshot

• This is a 7-bed/4.0-bath single-family listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $40 ($481/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 $149k (9.4% below list).
• Recommended offer: $149k (9.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#900 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Georgetown-South Otselic Central School District (rural): math 40% / reading 30% proficiency, ranked #692 of 755 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 137 units permitted in Madison County in 2024 (46 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Madison County population projected at -24% 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1847 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,412 (9.4% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1847 — 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 F 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.0%
• Equity multiple: 3.00×
• Total profit: $92,438
• Equity at exit: $148,645

10-year hold

• IRR: 22.1%
• Equity multiple: 6.85×
• Total profit: $270,253
• Equity at exit: $320,559

Cash invested: $46,200 (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 13072

• Home prices YoY: 4.5%
• Active inventory: 3
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $40

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 92%

Sensitivity live

Price	-10% $154	-5% $97	+0% $40	+5% $-17	+10% $-74
Rent	-10% $-78	-5% $-19	+0% $40	+5% $99	+10% $158
Rate	-1.0pp $123	-0.5pp $82	base $40	+0.5pp $-3	+1.0pp $-46

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $165,000 Active 66 DOM
2. 2026-06-21
   days on market $165,000 Active 65 DOM
3. 2026-06-18
   days on market $165,000 Active 63 DOM
4. 2026-06-17
   days on market $165,000 Active 62 DOM
5. 2026-06-16
   days on market $165,000 Active 61 DOM
6. 2026-06-15
   days on market $165,000 Active 60 DOM
7. 2026-06-13
   days on market $165,000 Active 58 DOM
8. 2026-06-12
   days on market $165,000 Active 57 DOM
9. 2026-06-09
   days on market $165,000 Active 54 DOM
10. 2026-06-08
    days on market $165,000 Active 53 DOM
11. 2026-06-07
    days on market $165,000 Active 52 DOM
12. 2026-06-05
    days on market $165,000 Active 50 DOM
13. 2026-06-04
    days on market $165,000 Active 48 DOM
14. 2026-06-02
    days on market $165,000 Active 47 DOM
15. 2026-06-01
    days on market $165,000 Active 46 DOM
16. 2026-05-31
    days on market $165,000 Active 45 DOM
17. 2026-04-16
    listed $195,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,929
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$4,800
• Taxable loss: −$2,282
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $1,029/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This property requires significant repairs and updates to improve its condition and value. Immediate attention to the roof, siding, and HVAC is critical.

Repairs flagged

• Major roof — Significant water stains and potential leaks
• Major siding — Peeling and chipping paint
• Major flooring — Worn-out and in need of replacement
• Major HVAC unit — Appears old and may need replacement
• Major interior walls — Significant wear and tear, requiring repainting

Value-add opportunities

• Both New roof — Fixes the most critical issue and improves both resale and rental value
• Both New siding and paint — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves the living space and adds value
• Both New HVAC unit — Ensures comfort and energy efficiency
• Both Interior painting — Enhances the interior and makes it more appealing

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant water stains and potential leaks	Major	$15,000–50,000
siding · Peeling and chipping paint	Major	$15,000–50,000
flooring · Worn-out and in need of replacement	Major	$15,000–50,000
HVAC unit · Appears old and may need replacement	Major	$15,000–50,000
interior walls · Significant wear and tear, requiring repainting	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New roof — Fixes the most critical issue and improves both resale and rental value ↑
• Both New siding and paint — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves the living space and adds value ↑
• Both New HVAC unit — Ensures comfort and energy efficiency ↑
• Both Interior painting — Enhances the interior and makes it more appealing ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Georgetown-South Otselic Central School District
• NCES district ID: 3622100
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $47,779
• Composite: 32.79/100
• National rank: #10750
• State rank: #692 of 755 in NY

Livability — DeRuyter

• Score: 61/100
• State rank: #900
• US rank: #17540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 811

Population outlook (Madison County) Hauer SSP2

• Today (2025): 69,528 people
• By 2030: 66,599 · -4.2%
• By 2040: 59,814 · -14.0%
• By 2050: 52,842 · -24.0%
• By 2075: 39,167 · -43.7%
• By 2100: 28,442 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 2%
• Common ancestry: Romanian 3% Russian 3% American 3%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 3% Spanish 1%

Political lean MEDSL · Madison

• 2024 margin: R (+13.1) · D 43.5% · R 56.5%
• 2008→2024 swing: -13.9pp toward R · 2008: 0.9pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.6 2016: R+15.9 2012: D+0.3 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.59%
• Current HPI: 293.0287
• 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

• 2026-04-16 Listed $195,000 CNYIS