215 E Front St · Hancock, NY 13783

$125,000

3 bd · 1.0 ba · 1,274 sqft · SingleFamily public records · 331 Days on market

Built 1935 5,663 sqft lot $98/sqft · 33% below area Est $186k · 33% 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 +19.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +6.4/10.0
• DSCR +6.1/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover timeless character and modern convenience in this beautifully updated 3–4 bedroom, 1-bath home located in the heart of Hancock, New York. Built in 1935, this classic residence blends vintage charm with thoughtful upgrades throughout. Step inside to find spacious, light-filled rooms, including a flexible fourth bedroom that can serve as a home office, guest room, or playroom. The updated kitchen features fresh finishes, and the dedicated laundry room adds everyday functionality. Recent improvements include updated flooring, fixtures, and mechanicals—allowing you to move in with confidence. Whether you’re relaxing on the front porch or entertaining in the generous living spaces, this home offers comfort and character in equal measure. Nestled in a quiet neighborhood just minutes from shops, restaurants, and the scenic Delaware River, this home is ideal for families, first-time buyers, or anyone seeking small-town living with modern style. Don't miss this rare opportunity to own a piece of Hancock’s history with all the right updates!

Key facts

• Front porch
• Updated mechanicals
• Updated kitchen

Tags

• UPDATED KITCHEN
• DEDICATED LAUNDRY ROOM
• UPDATED FLOORING
• UPDATED FIXTURES
• UPDATED MECHANICALS
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $136 ($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.
• Cap rate 7.6% vs local median 2.4% in Hancock — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#454 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D+, amenities D, commute F.
• Hancock Central School District (rural): math 40% / reading 40% proficiency, ranked #649 of 755 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 $13k of equity ($864 loan paydown + $12k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

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

Questions for the listing agent

1. It's been on market 331 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.14% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 7.3

CMA / ARV

• ARV (median comp): $186,480
• List price: $125,000
• Delta: -32.97%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Leonard St	0.36mi	3/1.0	1,260 (-1%)	21mo	$154,000	$122	64
28 Berger St	0.48mi	3/1.5	1,400 (+10%)	8mo	$160,000	$114	53
282 Leonard St	0.43mi	2/2.0 (-1)	1,350 (+6%)	20mo	$123,600	$92	44

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

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 3.19×
• Total profit: $76,816
• Equity at exit: $112,610

10-year hold

• IRR: 24.2%
• Equity multiple: 7.27×
• Total profit: $219,611
• Equity at exit: $242,848

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 13783

• Home prices YoY: 2.9%
• Active inventory: 57
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$281 /mo · $3,372/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $136

Break-even live

Break-even rent $1,251

Max offer price $125,000

Occupancy floor 85%

Sensitivity live

Price	-10% $206	-5% $171	+0% $136	+5% $100	+10% $65
Rent	-10% $23	-5% $79	+0% $136	+5% $192	+10% $248
Rate	-1.0pp $199	-0.5pp $167	base $136	+0.5pp $103	+1.0pp $70

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 20 events

1. 2026-06-21
   days on market $125,000 Active 331 DOM
2. 2026-06-21
   days on market $125,000 Active 330 DOM
3. 2026-06-18
   days on market $125,000 Active 328 DOM
4. 2026-06-17
   days on market $125,000 Active 327 DOM
5. 2026-06-16
   days on market $125,000 Active 326 DOM
6. 2026-06-15
   days on market $125,000 Active 325 DOM
7. 2026-06-13
   days on market $125,000 Active 323 DOM
8. 2026-06-12
   days on market $125,000 Active 322 DOM
9. 2026-06-09
   days on market $125,000 Active 319 DOM
10. 2026-06-08
    days on market $125,000 Active 318 DOM
11. 2026-06-07
    days on market $125,000 Active 317 DOM
12. 2026-06-07
    days on market $125,000 Active 316 DOM
13. 2026-06-04
    days on market $125,000 Active 313 DOM
14. 2026-06-02
    days on market $125,000 Active 312 DOM
15. 2026-06-01
    days on market $125,000 Active 311 DOM
16. 2026-05-31
    days on market $125,000 Active 310 DOM
17. 2026-05-16
    price $125,000 1081-char remark

    Show marketing remark (1081 chars)

    Discover timeless character and modern convenience in this beautifully updated 3–4 bedroom, 1-bath home located in the heart of Hancock, New York. Built in 1935, this classic residence blends vintage charm with thoughtful upgrades throughout. Step inside to find spacious, light-filled rooms, including a flexible fourth bedroom that can serve as a home office, guest room, or playroom. The updated kitchen features fresh finishes, and the dedicated laundry room adds everyday functionality. Recent improvements include updated flooring, fixtures, and mechanicals—allowing you to move in with confidence. Whether you’re relaxing on the front porch or entertaining in the generous living spaces, this home offers comfort and character in equal measure. Nestled in a quiet neighborhood just minutes from shops, restaurants, and the scenic Delaware River, this home is ideal for families, first-time buyers, or anyone seeking small-town living with modern style. Don't miss this rare opportunity to own a piece of Hancock’s history with all the right updates!

18. 2025-07-25
    listed $130,000 Active 1081-char remark

    Show marketing remark (1081 chars)

    Discover timeless character and modern convenience in this beautifully updated 3–4 bedroom, 1-bath home located in the heart of Hancock, New York. Built in 1935, this classic residence blends vintage charm with thoughtful upgrades throughout. Step inside to find spacious, light-filled rooms, including a flexible fourth bedroom that can serve as a home office, guest room, or playroom. The updated kitchen features fresh finishes, and the dedicated laundry room adds everyday functionality. Recent improvements include updated flooring, fixtures, and mechanicals—allowing you to move in with confidence. Whether you’re relaxing on the front porch or entertaining in the generous living spaces, this home offers comfort and character in equal measure. Nestled in a quiet neighborhood just minutes from shops, restaurants, and the scenic Delaware River, this home is ideal for families, first-time buyers, or anyone seeking small-town living with modern style. Don't miss this rare opportunity to own a piece of Hancock’s history with all the right updates!

19. 2016-10-03
    soldstatus $50,000
20. 2002-09-12
    soldstatus $35,000

ⓘ 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: $3,372 · $281/mo
• Projected year-2 tax: $3,372 · $281/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 19 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: $17,077
• − Mortgage interest: −$7,002
• − Property taxes: −$3,372
• − Insurance: −$625
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$3,636
• Taxable loss: −$291
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $1,697/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: Hancock Central School District
• NCES district ID: 3613560
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $40,208
• Composite: 35.99/100
• National rank: #9539
• State rank: #649 of 755 in NY

Livability — Hancock

• Score: 70/100
• State rank: #454
• US rank: #7935

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hancock, NY
• Population (ZIP): 2,200

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Asian 3% Two or more races 2% Black 1%
• Common ancestry: Romanian 6% Serbian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 97% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 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: ▲ 13.62%
• Current HPI: 484.0977
• 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

+257.1% since first listed

4 events — show timeline

• 2026-05-16 Price Changed $125,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-25 Listed $130,000 OneKey® MLS as Distributed by MLS Grid
• 2016-10-03 Sold (Public Records) $50,000 Public Records
• 2002-09-12 Sold (Public Records) $35,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,372 · +2.7% YoY. Source: county tax records.