6 Hope St · Hurleyville, NY 12747

$350,000

4 bd · 2.0 ba · 2,430 sqft · MultiFamily public records · 70 Days on market

Built 1889 8,276 sqft lot Est $657k · 47% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fully occupied duplex in the heart of Hurleyville, featuring two well-maintained 2BR/1BA units. The downstairs apartment is fully furnished and used for mid-term rentals, while the upstairs unit has been updated with a new bathroom, kitchen, and appliances. Recent improvements include two new propane furnaces, and the property offers separate utilities for added efficiency. A two-car garage provides storage and houses maintenance equipment for the property. The sale includes the building and all on-site contents for a combined purchase price of $350,000. Allocation of purchase price between real property and contents/FF&E to be determined during contract negotiations. Inventory list available upon request. This duplex is being offered as a three-parcel, fully occupied investment portfolio, and the entire portfolio is offered strictly as-is/where-is, with inspections permitted for informational purposes only. The contiguous parcels include mixed-use, residential, commercial, and STR/LTR components, providing diversified income and strong cash flow. See MLS #978813 and #983187 for the additional parcels in this portfolio. Seller intends to prioritize offers that include all three parcels. Individual parcel offers remain eligible for consideration but may be secondary to full-portfolio proposals. Pricing consideration may be available for a combined purchase. Located steps from Main Street amenities, dining, the Rail Trail, and Hurleyville’s growing arts and cultural district. Agent discloses interest.

Key facts

• Separate utilities
• Two car garage
• 8,276 sq ft lot

Tags

• FULLY OCCUPIED DUPLEX
• TWO WELL MAINTAINED UNITS
• TWO NEW PROPANE FURNACES
• SEPARATE UTILITIES
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive. Per door: $164/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $335k (4.2% below list).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fallsburg Central School District (town): math 29% / reading 27% proficiency, ranked #583 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Sullivan 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 $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $179k; list at $350k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 0.96% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $657,010
• List price: $350,000
• Delta: -46.73%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.2%
• Equity multiple: 3.16×
• Total profit: $211,490
• Equity at exit: $315,308

10-year hold

• IRR: 23.8%
• Equity multiple: 7.19×
• Total profit: $606,363
• Equity at exit: $679,973

Cash invested: $98,000 (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 12747

• Home prices YoY: 3.2%
• Active inventory: 21
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,353 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$340 /mo · $4,077/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $328

Break-even live

Break-even rent $2,938

Max offer price $350,000

Occupancy floor 85%

Sensitivity live

Price	-10% $526	-5% $427	+0% $328	+5% $229	+10% $130
Rent	-10% $63	-5% $195	+0% $328	+5% $460	+10% $593
Rate	-1.0pp $504	-0.5pp $417	base $328	+0.5pp $237	+1.0pp $145

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$3,352
Total (2 units)			$3,353

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $350,000 Active 70 DOM
2. 2026-06-18
   days on market $350,000 Active 67 DOM
3. 2026-06-17
   days on market $350,000 Active 66 DOM
4. 2026-06-16
   days on market $350,000 Active 65 DOM
5. 2026-06-15
   days on market $350,000 Active 64 DOM
6. 2026-06-14
   days on market $350,000 Active 62 DOM
7. 2026-06-13
   days on market $350,000 Active 61 DOM
8. 2026-06-10
   days on market $350,000 Active 59 DOM
9. 2026-06-09
   days on market $350,000 Active 58 DOM
10. 2026-06-08
    days on market $350,000 Active 57 DOM
11. 2026-06-07
    days on market $350,000 Active 56 DOM
12. 2026-06-03
    days on market $350,000 Active 52 DOM
13. 2026-06-02
    days on market $350,000 Active 51 DOM
14. 2026-06-01
    days on market $350,000 Active 50 DOM
15. 2026-05-31
    days on market $350,000 Active 49 DOM
16. 2026-05-31
    days on market $350,000 Active 48 DOM
17. 2026-04-08
    listed $350,000 Active 1536-char remark

    Show marketing remark (1536 chars)

    Fully occupied duplex in the heart of Hurleyville, featuring two well-maintained 2BR/1BA units. The downstairs apartment is fully furnished and used for mid-term rentals, while the upstairs unit has been updated with a new bathroom, kitchen, and appliances. Recent improvements include two new propane furnaces, and the property offers separate utilities for added efficiency. A two-car garage provides storage and houses maintenance equipment for the property. The sale includes the building and all on-site contents for a combined purchase price of $350,000. Allocation of purchase price between real property and contents/FF&E to be determined during contract negotiations. Inventory list available upon request. This duplex is being offered as a three-parcel, fully occupied investment portfolio, and the entire portfolio is offered strictly as-is/where-is, with inspections permitted for informational purposes only. The contiguous parcels include mixed-use, residential, commercial, and STR/LTR components, providing diversified income and strong cash flow. See MLS #978813 and #983187 for the additional parcels in this portfolio. Seller intends to prioritize offers that include all three parcels. Individual parcel offers remain eligible for consideration but may be secondary to full-portfolio proposals. Pricing consideration may be available for a combined purchase. Located steps from Main Street amenities, dining, the Rail Trail, and Hurleyville’s growing arts and cultural district. Agent discloses interest.

18. 2021-03-11
    soldstatus $179,000
19. 2002-08-06
    soldstatus $25,000
20. 2000-12-04
    soldstatus $43,000
21. 1986-06-19
    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: $4,077 · $340/mo
• Projected year-2 tax: $4,996 · $416/mo
• Expected delta: +$919/yr (+$77/mo · 22.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $40,236
• − Mortgage interest: −$19,605
• − Property taxes: −$4,077
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,219
• − Management: −$3,219
• − Depreciation: −$10,182
• Taxable loss: −$1,816
• Est. tax savings @ 24.0%: +$436
• After-tax cash flow: $4,370/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: Fallsburg Central School District
• NCES district ID: 3610950
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $42,513
• Composite: 23.84/100
• National rank: #7805
• State rank: #583 of 590 in NY

Livability — Hurleyville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Hurleyville, NY
• Population (ZIP): 2,036

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 12% Two or more races 11% Black 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Lithuanian 10% Scotch-Irish 5%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 10% Chinese 1%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.46%
• Current HPI: 504.332
• 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

+900.0% since first listed

5 events — show timeline

• 2026-04-08 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2021-03-11 Sold (Public Records) $179,000 Public Records
• 2002-08-06 Sold (Public Records) $25,000 Public Records
• 2000-12-04 Sold (Public Records) $43,000 Public Records
• 1986-06-19 Sold (Public Records) $35,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,077 · +1.4% YoY. Source: county tax records.