15831 State Highway 23 · Davenport Center, NY 13750

$125,000

3 bd · 2.0 ba · 2,194 sqft · SingleFamily public records · 252 Days on market

Built 1880 0.30 ac lot $57/sqft · 42% below area Est $216k · 42% under

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Why this score? — see what drove the B- 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 +19.9/30.0
• ARV discount +15.0/15.0
• Appreciation +9.0/10.0
• DSCR +6.3/10.0
• 1% rule +5.6/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Diamond in the rough with some work already in process of restoration. Seeking the handy person with a vision to restore this Victorian home to its true charm. This Victorian has original woodwork throughout, some has been removed for renovations and saved. From cast heating grates to original hinges to inlayed hardwood floors. New chimney liner, cap, pointing and parging is a genous gift to a new buy with the sum of over $8,000 upgrade. This original 1880's character is a rare find. The home is occupied by the seller however their life turned in a different direction. What once was their passion to restore this large treasure, now needs to have new owner with the vision to finish this beauty. From partial new roof to new septic, electrical to plumbing has too many new upgrades to mention. A few rooms have been redone including new windows, however some rooms are down to the raw studs revealing real hardy true 2x4 structure. Come with your vision in binging her back to the original charm. With this size foot print your vision may also include multi units with this size of the structure and room sizes.

Key facts

• Original hinges
• New septic
• Cast heating grates

Tags

• ORIGINAL WOODWORK
• CAST HEATING GRATES
• ORIGINAL HINGES
• INLAYED HARDWOOD FLOORS
• PARTIAL NEW ROOF
• NEW SEPTIC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,049 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment C-, health & safety C-, schools F.
• Charlotte Valley Central School District (rural): math 35% / reading 45% proficiency, ranked #640 of 755 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 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 $11k of equity ($864 loan paydown + $10k appreciation (8.0% 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 (8.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 252 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $13k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.06% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (median comp): $216,493
• List price: $125,000
• Delta: -42.26%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15541 State Highway 23	0.28mi	3/1.0	2,204 (+0%)	1mo	$207,000	$94	81
15927 Ny-23	0.11mi	4/1.5 (+1)	2,304 (+5%)	16mo	$72,000	$31	66

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

Projected returns pro-forma

7.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.74×
• Total profit: $60,849
• Equity at exit: $94,573

10-year hold

• IRR: 21.7%
• Equity multiple: 5.84×
• Total profit: $169,409
• Equity at exit: $187,353

Cash invested: $35,000 (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 13750

• Home prices YoY: 2.2%
• Active inventory: 10
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$184 /mo · $2,207/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $152

Break-even live

Break-even rent $1,129

Max offer price $125,000

Occupancy floor 83%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $125,000 Active 252 DOM
2. 2026-06-18
   days on market $125,000 Active 251 DOM
3. 2026-06-17
   days on market $125,000 Active 250 DOM
4. 2026-06-16
   days on market $125,000 Active 249 DOM
5. 2026-06-15
   days on market $125,000 Active 248 DOM
6. 2026-06-14
   days on market $125,000 Active 246 DOM
7. 2026-06-12
   days on market $125,000 Active 245 DOM
8. 2026-06-09
   days on market $125,000 Active 242 DOM
9. 2026-06-08
   days on market $125,000 Active 241 DOM
10. 2026-06-07
    days on market $125,000 Active 240 DOM
11. 2026-06-07
    days on market $125,000 Active 239 DOM
12. 2026-06-03
    days on market $125,000 Active 236 DOM
13. 2026-06-02
    days on market $125,000 Active 235 DOM
14. 2026-06-01
    days on market $125,000 Active 234 DOM
15. 2026-05-31
    days on market $125,000 Active 233 DOM
16. 2026-05-31
    days on market $125,000 Active 232 DOM
17. 2026-04-17
    price $125,000 1118-char remark

    Show marketing remark (1118 chars)

    Diamond in the rough with some work already in process of restoration. Seeking the handy person with a vision to restore this Victorian home to its true charm. This Victorian has original woodwork throughout, some has been removed for renovations and saved. From cast heating grates to original hinges to inlayed hardwood floors. New chimney liner, cap, pointing and parging is a genous gift to a new buy with the sum of over $8,000 upgrade. This original 1880's character is a rare find. The home is occupied by the seller however their life turned in a different direction. What once was their passion to restore this large treasure, now needs to have new owner with the vision to finish this beauty. From partial new roof to new septic, electrical to plumbing has too many new upgrades to mention. A few rooms have been redone including new windows, however some rooms are down to the raw studs revealing real hardy true 2x4 structure. Come with your vision in binging her back to the original charm. With this size foot print your vision may also include multi units with this size of the structure and room sizes.

18. 2025-10-10
    listed $138,000 Active 1118-char remark

    Show marketing remark (1118 chars)

    Diamond in the rough with some work already in process of restoration. Seeking the handy person with a vision to restore this Victorian home to its true charm. This Victorian has original woodwork throughout, some has been removed for renovations and saved. From cast heating grates to original hinges to inlayed hardwood floors. New chimney liner, cap, pointing and parging is a genous gift to a new buy with the sum of over $8,000 upgrade. This original 1880's character is a rare find. The home is occupied by the seller however their life turned in a different direction. What once was their passion to restore this large treasure, now needs to have new owner with the vision to finish this beauty. From partial new roof to new septic, electrical to plumbing has too many new upgrades to mention. A few rooms have been redone including new windows, however some rooms are down to the raw studs revealing real hardy true 2x4 structure. Come with your vision in binging her back to the original charm. With this size foot print your vision may also include multi units with this size of the structure and room sizes.

19. 2024-01-08
    historical
20. 2023-10-03
    price $90,000
21. 2023-09-06
    price $99,500
22. 2023-07-08
    listed $105,000 Active

ⓘ 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: $2,207 · $184/mo
• Projected year-2 tax: $2,207 · $184/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥89°F today · 18 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: $15,853
• − Mortgage interest: −$7,002
• − Property taxes: −$2,207
• − Insurance: −$625
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$3,636
• Taxable loss: −$154
• Est. tax savings @ 24.0%: +$37
• After-tax cash flow: $1,862/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: Charlotte Valley Central School District
• NCES district ID: 3607050
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $47,579
• Composite: 36.67/100
• National rank: #9236
• State rank: #640 of 755 in NY

Livability — Davenport Center

• Score: 58/100
• State rank: #1049
• US rank: #20806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 588

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Iranian 3% Scottish 3% Italian 2%
• Foreign-born: 2%
• Languages at home: 96% English-only · Other Indo-European 4%

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: ▲ 7.95%
• Current HPI: 371.933
• 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

+19.0% since first listed

6 events — show timeline

• 2026-04-17 Price Changed $125,000 UNYREIS
• 2025-10-10 Listed $138,000 UNYREIS
• 2024-01-08 Listing Removed — UNYREIS
• 2023-10-03 Price Changed $90,000 UNYREIS
• 2023-09-06 Price Changed $99,500 UNYREIS
• 2023-07-08 Listed $105,000 UNYREIS

Property tax history

+7.7%/yr

Latest (2025): $2,207 · +3.0% YoY. Source: county tax records.