2304 State Highway 205 · Mount Vision, NY 13810

$199,600

3 bd · 2.0 ba · 2,475 sqft · MultiFamily public records · 7 Days on market

Built 1860 0.93 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 +18.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +5.7/10.0
• 1% rule +5.4/10.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

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

Charming country farmhouse. Can be used as single or 2 family home. 2nd floor has full kitchen and room that is being used as bedroom at present time would be great living room. Owner rented to vacationers in summer. Large open rooms with plenty of light. Wonderful wide plank floors in many of the rooms. Large full bath on 1st floor and roomy 3/4 bath on 2nd floor. Large sunroom/ family room on back of home is not heated at present time but does have baseboard heat. Home would be great for large family or income potential with area upstairs that has private entrance through lower foyer. New roof with transferable warranty. New hot water heater and new pump in well. Located on corner lot in quiet village 10 miles from Oneonta. Good location for Baseball Rental. Sunroom is currently being used for storage of items that are being given away, taken by family, etc. Getting ready for move. Don't let that influence your decision to see the great inside.

Key facts

• Covered porches
• Level yard
• Enclosed sunroom

Tags

• IN UNIT LAUNDRY ROOM
• PRIVATE ENTRANCE
• ENCLOSED SUNROOM
• COVERED PORCHES
• LEVEL YARD
• ESTABLISHED GARDENS

Property features AI

Finance

• Other: Owner pays: other / see remarks; Rent includes: see remarks
• Financial info: Operating expenses include utilities; Multifamily property with 2 total units; Separate single gas meter and single electric meter for the property

Exterior

• Parking: Two-car garage; Two or more unpaved spaces; Garage door opener
• Utilities: Cable available; Electricity available and connected; High-speed internet available; Septic tank; Well water
• Home design: Two-story building; Existing structure; Corner, rectangular lot with main thoroughfare frontage
• Construction: Vinyl siding; Asphalt shingle roof; Stone foundation; Built (existing)
• Exterior features: Deck; Enclosed porch; Porch; Private yard; See remarks

Interior

• Kitchen: Unit 1 includes oven/range and refrigerator; Unit 2 includes dishwasher, oven/range and refrigerator; Eat-in kitchen in Unit 2
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Carpet; Hardwood; Tile; Vinyl; Varied flooring types
• Bathrooms: Two full bathrooms (total in building); Each unit has one full bathroom
• Heating & cooling: Oil heating; Baseboard heating; Radiant heating; Has heating
• Interior features: Thermal windows; Storage
• Laundry & utility: Washer hookup; Unit 2 has in-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Laurens Central School District (rural): math 55% / reading 50% proficiency, ranked #423 of 755 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 133 units permitted in Otsego County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (3.1% local appreciation)).
• Otsego County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $110k; list at $200k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,600

Questions for the listing agent

1. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.65×
• Total profit: $36,577
• Equity at exit: $91,066

10-year hold

• IRR: 13.5%
• Equity multiple: 3.02×
• Total profit: $113,120
• Equity at exit: $141,376

Cash invested: $55,888 (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 13810

• Home prices YoY: 0.8%
• Active inventory: 9
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,079 medium
• Mortgage (P&I): −$1,047
• Tax from tax record: −$337 /mo · $4,038/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $176

Break-even live

Break-even rent $1,856

Max offer price $199,600

Occupancy floor 87%

Sensitivity live

Price	-10% $289	-5% $232	+0% $176	+5% $119	+10% $63
Rent	-10% $12	-5% $94	+0% $176	+5% $258	+10% $340
Rate	-1.0pp $277	-0.5pp $227	base $176	+0.5pp $124	+1.0pp $72

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,068
1× unit	1	1	$1,011
Total (2 units)			$2,079

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: $49,900
• Closing costs: $5,988
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-06
   status Pending
2. 2026-04-29
   listed $199,600 Active
3. 2007-05-09
   soldstatus $110,000 960-char remark

   Show marketing remark (960 chars)

   Charming country farmhouse. Can be used as single or 2 family home. 2nd floor has full kitchen and room that is being used as bedroom at present time would be great living room. Owner rented to vacationers in summer. Large open rooms with plenty of light. Wonderful wide plank floors in many of the rooms. Large full bath on 1st floor and roomy 3/4 bath on 2nd floor. Large sunroom/ family room on back of home is not heated at present time but does have baseboard heat. Home would be great for large family or income potential with area upstairs that has private entrance through lower foyer. New roof with transferable warranty. New hot water heater and new pump in well. Located on corner lot in quiet village 10 miles from Oneonta. Good location for Baseball Rental. Sunroom is currently being used for storage of items that are being given away, taken by family, etc. Getting ready for move. Don't let that influence your decision to see the great inside.

4. 2007-05-08
   soldstatus $110,000
5. 2007-03-06
   listed $121,000 960-char remark

   Show marketing remark (960 chars)

   Charming country farmhouse. Can be used as single or 2 family home. 2nd floor has full kitchen and room that is being used as bedroom at present time would be great living room. Owner rented to vacationers in summer. Large open rooms with plenty of light. Wonderful wide plank floors in many of the rooms. Large full bath on 1st floor and roomy 3/4 bath on 2nd floor. Large sunroom/ family room on back of home is not heated at present time but does have baseboard heat. Home would be great for large family or income potential with area upstairs that has private entrance through lower foyer. New roof with transferable warranty. New hot water heater and new pump in well. Located on corner lot in quiet village 10 miles from Oneonta. Good location for Baseball Rental. Sunroom is currently being used for storage of items that are being given away, taken by family, etc. Getting ready for move. Don't let that influence your decision to see the great inside.

6. 1999-10-20
   soldstatus $84,000

ⓘ 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: $4,038 · $337/mo
• Projected year-2 tax: $4,038 · $337/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 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $24,948
• − Mortgage interest: −$11,181
• − Property taxes: −$4,038
• − Insurance: −$998
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − Depreciation: −$5,807
• Taxable loss: −$1,067
• Est. tax savings @ 24.0%: +$256
• After-tax cash flow: $2,368/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: Laurens Central School District
• NCES district ID: 3616800
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $46,144
• Composite: 46.42/100
• National rank: #5346
• State rank: #423 of 755 in NY

Livability — Mount Vision

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

Census & demographics

• Census place: Mount Vision, NY
• Population (ZIP): 1,195

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 57,987 people
• By 2030: 55,403 · -4.5%
• By 2040: 50,336 · -13.2%
• By 2050: 45,715 · -21.2%
• By 2075: 38,769 · -33.1%
• By 2100: 33,468 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 5% Slovak 4% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Otsego

• 2024 margin: Lean R (+7.9) · D 46.1% · R 53.9%
• 2008→2024 swing: -13.8pp toward R · 2008: 5.9pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+5.0 2016: R+13.0 2012: D+2.0 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.12%
• Current HPI: 379.2971
• 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

+137.6% since first listed

6 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-29 Listed $199,600 UNYREIS
• 2007-05-09 Sold (MLS) $110,000 UNYREIS
• 2007-05-08 Sold (Public Records) $110,000 Public Records
• 2007-03-06 Listed $121,000 UNYREIS
• 1999-10-20 Sold (Public Records) $84,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $4,038 · +18.2% YoY. Source: county tax records.