214 W Main St Unit 212-214 · Richmondville, NY 12149

$250,000

5 bd · 2.5 ba · 4,003 sqft · MultiFamily · 63 Days on market

Built 1880 Fair condition 0.50 ac lot $62/sqft · 71% below area

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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 +20.5/30.0
• Appreciation +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

2 Homes on 1 parcel. It is 2 separate homes on one lot. 214 West Main St 3 bedroom, extra bonus room could be a 4th bedroom. 2 bath with covered front porch. 212 West Main St sits behind the first house 3 bedroom 2 full bathwith a 3 car garage attached. Public water and public sewer. Cobleskill Richmondville School District. Minutes to I-88. Easy commute to the Capital area.

Key facts

• Covered front porch
• Public sewer
• Minutes to i-88

Tags

• COVERED FRONT PORCH
• 2 CAR GARAGE
• PUBLIC WATER
• PUBLIC SEWER
• MINUTES TO I-88
• EASY COMMUTE TO CAPITAL AREA

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#433 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, amenities F, commute F.
• Cobleskill-Richmondville Central School District (town): math 53% / reading 52% proficiency, ranked #336 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 25 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (9.8% local appreciation)).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $852,865
• List price: $250,000
• Delta: -70.69%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

9.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 3.14×
• Total profit: $149,769
• Equity at exit: $221,063

10-year hold

• IRR: 23.9%
• Equity multiple: 7.09×
• Total profit: $426,456
• Equity at exit: $472,374

Cash invested: $70,000 (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 12149

• Home prices YoY: 3.0%
• Active inventory: 25
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,604 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $274

Break-even live

Break-even rent $2,257

Max offer price $250,000

Occupancy floor 84%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,604
Total (2 units)			$2,604

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $250,000 Active 63 DOM
2. 2026-06-17
   days on market $250,000 Active 62 DOM
3. 2026-06-16
   days on market $250,000 Active 61 DOM
4. 2026-06-15
   days on market $250,000 Active 60 DOM
5. 2026-06-13
   days on market $250,000 Active 58 DOM
6. 2026-06-12
   days on market $250,000 Active 57 DOM
7. 2026-06-09
   days on market $250,000 Active 54 DOM
8. 2026-06-09
   status $250,000 Active 53 DOM
9. 2026-06-08
   days on market $250,000 Contingent 53 DOM
10. 2026-06-07
    days on market $250,000 Contingent 52 DOM
11. 2026-06-07
    days on market $250,000 Contingent 51 DOM
12. 2026-06-04
    days on market $250,000 Contingent 48 DOM
13. 2026-06-02
    days on market $250,000 Contingent 47 DOM
14. 2026-06-01
    days on market $250,000 Contingent 46 DOM
15. 2026-05-31
    days on market $250,000 Contingent 45 DOM
16. 2026-05-18
    historical Contingent 380-char remark

    Show marketing remark (380 chars)

    2 Homes on 1 parcel. It is 2 separate homes on one lot. 214 West Main St 3 bedroom, extra bonus room could be a 4th bedroom. 2 bath with covered front porch. 212 West Main St sits behind the first house 3 bedroom 2 full bathwith a 3 car garage attached. Public water and public sewer. Cobleskill Richmondville School District. Minutes to I-88. Easy commute to the Capital area.

17. 2026-04-15
    listed $250,000 Active 380-char remark

    Show marketing remark (380 chars)

    2 Homes on 1 parcel. It is 2 separate homes on one lot. 214 West Main St 3 bedroom, extra bonus room could be a 4th bedroom. 2 bath with covered front porch. 212 West Main St sits behind the first house 3 bedroom 2 full bathwith a 3 car garage attached. Public water and public sewer. Cobleskill Richmondville School District. Minutes to I-88. Easy commute to the Capital area.

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 9 d/yr ≥89°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $31,248
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,916
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − Depreciation: −$7,273
• Taxable loss: −$695
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $3,454/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 · 13 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, exterior, and flooring.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate roof shingles — visible wear and tear
• Moderate exterior siding — weathered and in need of repainting

Value-add opportunities

• Resale update kitchen appliances — modern appliances can significantly increase appeal
• Resale update bathroom fixtures — modern fixtures can significantly increase appeal
• Both paint exterior — improves curb appeal and can increase value
• Both replace carpeted flooring — new flooring can improve living space and increase value
• Both replace windows — new windows can improve energy efficiency and increase value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
roof shingles · visible wear and tear	Moderate	$3,000–15,000
exterior siding · weathered and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Resale update kitchen appliances — modern appliances can significantly increase appeal ↑
• Resale update bathroom fixtures — modern fixtures can significantly increase appeal ↑
• Both paint exterior — improves curb appeal and can increase value ↑
• Both replace carpeted flooring — new flooring can improve living space and increase value ↑
• Both replace windows — new windows can improve energy efficiency and increase value ↑

ⓘ 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: Cobleskill-Richmondville Central School District
• NCES district ID: 3600010
• Math proficiency: 53% ▲ 2.00%
• Reading proficiency: 52% ▲ 10.00%
• Median HH income: $49,555
• Composite: 44.83/100
• National rank: #2734
• State rank: #336 of 590 in NY

Livability — Richmondville

• Score: 70/100
• State rank: #433
• US rank: #7481

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmondville, NY
• Population (ZIP): 2,176

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Iranian 7% Lithuanian 5% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 3% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.77%
• Current HPI: 339.6179
• 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

2 events — show timeline

• 2026-05-18 Contingent — Global MLS
• 2026-04-15 Listed $250,000 Global MLS