34175 County Route 46 · Theresa, NY 13691

$25,000

3 bd · None ba · 1,008 sqft · Manufactured public records · 17 Days on market

Built 1980 2.50 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 +15.0/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits on this 2.5 acre partially wooded parcel offering a variety of potential future uses. Existing improvements include electric service, a drilled well, and a septic system, providing a foundation for future development. A pole barn is located on the property and may offer storage or rehabilitation potential, subject to buyer inspection and intended use. With no known deed restrictions, buyers have flexibility to explore development options in accordance with local zoning and permitting requirements. The combination of open and wooded areas provides a diverse landscape for a variety of uses. The property also includes a single-wide trailer and miscellaneous personal property

Key facts

• Electric service
• Pole barn
• Drilled well

Tags

• PARTIALLY WOODED PARCEL
• ELECTRIC SERVICE
• DRILLED WELL
• SEPTIC SYSTEM
• POLE BARN
• NO KNOWN DEED RESTRICTIONS

Property features AI

Finance

• Other: Lot approximately 2.5 acres; Lot shape rectangular with dimensions around 175 x 613; Lot usable for single-family, mobile home, or recreational use; Topography: see remarks

Exterior

• Parking: Gravel driveway parking
• Utilities: Electricity available; Well water; Septic tank
• Home design: Single-story residence; Residential zoning for one unit; County road frontage
• Exterior features: Gravel driveway; Pole barn

Interior

• Interior features: Partially wooded setting

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#693 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: employment D, health & safety D, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($173 loan paydown + $1k appreciation (5.6% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 4.53% ✓
• Cap rate: 38.56%
• Cash-on-cash: 115.26%
• DSCR: 6.13
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $88,704
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28461 Silver Street Rd	0.74mi	2/1.5 (-1)	980 (-3%)	21mo	$86,000	$88	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 99.8%
• Equity multiple: 6.95×
• Total profit: $41,636
• Equity at exit: $15,127

10-year hold

• IRR: 97.9%
• Equity multiple: 14.66×
• Total profit: $95,592
• Equity at exit: $26,939

Cash invested: $7,000 (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 13691

• Home prices YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,133 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$81 /mo · $972/yr
• Insurance: −$10
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $547

Break-even live

Break-even rent $440

Max offer price $25,000

Occupancy floor 47%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $25,000 Active 17 DOM
2. 2026-06-18
   days on market $25,000 Active 16 DOM
3. 2026-06-17
   days on market $25,000 Active 15 DOM
4. 2026-06-16
   days on market $25,000 Active 14 DOM
5. 2026-06-15
   days on market $25,000 Active 13 DOM
6. 2026-06-14
   days on market $25,000 Active 11 DOM
7. 2026-06-12
   days on market $25,000 Active 10 DOM
8. 2026-06-09
   days on market $25,000 Active 7 DOM
9. 2026-06-08
   days on market $25,000 Active 6 DOM
10. 2026-06-07
    days on market $25,000 Active 5 DOM
11. 2026-06-05
    days on market $25,000 Active 2 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $25,000 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: $972 · $81/mo
• Projected year-2 tax: $972 · $81/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,593
• − Mortgage interest: −$1,400
• − Property taxes: −$972
• − Insurance: −$1,628
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$727
• Taxable income: $6,691
• Est. tax owed @ 24.0%: −$1,606
• After-tax cash flow: $4,960/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: Indian River Central School District
• NCES district ID: 3615300
• Math proficiency: 33% ▼ -21.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $45,599
• Composite: 35.25/100
• National rank: #4977
• State rank: #502 of 590 in NY

Livability — Theresa

• Score: 65/100
• State rank: #693
• US rank: #13103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,172

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 12% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 2% Romanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.63%
• Current HPI: 459.7016
• 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

• 2026-06-02 Listed $25,000 CNYIS

Property tax history

+5.6%/yr

Latest (2025): $972 · +61.5% YoY. Source: county tax records.