76 W Grand St · Palatine Bridge, NY 13428

$199,999

3 bd · 2.5 ba · 2,565 sqft · MultiFamily · 78 Days on market

Built 1921 Fair condition 0.50 ac lot $78/sqft · 49% above area Est $134k · 49% over ↓ 38% since listing

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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 +29.3/30.0
• DSCR +10.0/10.0
• Appreciation +8.8/10.0
• 1% rule +8.2/10.0
• Schools +4.1/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

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

There's something special about a place like this - where business and home have quietly existed side by side for generations . Set right in the heart of Palatine Bridge on a half-acre lot, this three-unit property tells a story of connection, craftsmanship and everyday life. At street level, the storefront - with its soft natural light - has long served as a neighborhood barber shop, a place where conversations are shared as often as haircuts. The large display windows provide excellent exposure for a variety of business uses and the space invites several possibilities: continue its legacy, create something entirely your own, or reimagine it as additional living space. The two apartments offer warm, comfortable rooms with a sense of history still present in the wood floors, simple built-ins and sunlit windows. Each space feels lived-in and welcoming, with room to update or preserve its character. Outside, the deep lot stretches beyond what you might expect in a village setting, with a long driveway, garage and space to grow, gather, or simply enjoy a quieter space. Whether you're looking for an investment, a place to live and work, or an opportunity to bring new life to a well-loved property, this is one that feels both practical and full of possibilities.

Key facts

• Half-acre lot
• Wood floors
• Long driveway

Tags

• HALF-ACRE LOT
• LARGE DISPLAY WINDOWS
• TWO APARTMENTS
• WOOD FLOORS
• SUNLIT WINDOWS
• LONG DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#663 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, crime F.
• Canajoharie Central School District (town): math 38% / reading 59% proficiency, ranked #414 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (7.6% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $39k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.32% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.11%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $133,889
• List price: $199,999
• Delta: 49.38%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

7.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 3.18×
• Total profit: $122,255
• Equity at exit: $146,544

10-year hold

• IRR: 27.9%
• Equity multiple: 6.74×
• Total profit: $321,373
• Equity at exit: $285,882

Cash invested: $56,000 (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 13428

• Home prices YoY: 2.1%
• Active inventory: 12
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $2,642 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $705

Break-even live

Break-even rent $1,750

Max offer price $199,999

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,643
Total (3 units)			$2,642

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $199,999 Active 78 DOM
2. 2026-06-17
   days on market $199,999 Active 77 DOM
3. 2026-06-16
   days on market $199,999 Active 76 DOM
4. 2026-06-15
   days on market $199,999 Active 75 DOM
5. 2026-06-13
   days on market $199,999 Active 73 DOM
6. 2026-06-12
   days on market $199,999 Active 72 DOM
7. 2026-06-09
   days on market $199,999 Active 69 DOM
8. 2026-06-08
   days on market $199,999 Active 68 DOM
9. 2026-06-07
   days on market $199,999 Active 67 DOM
10. 2026-06-07
    days on market $199,999 Active 66 DOM
11. 2026-06-04
    days on market $199,999 Active 63 DOM
12. 2026-06-02
    days on market $199,999 Active 62 DOM
13. 2026-06-01
    days on market $199,999 Active 61 DOM
14. 2026-05-31
    days on market $199,999 Active 60 DOM
15. 2026-05-12
    price $199,999 1290-char remark

    Show marketing remark (1290 chars)

    There's something special about a place like this - where business and home have quietly existed side by side for generations . Set right in the heart of Palatine Bridge on a half-acre lot, this three-unit property tells a story of connection, craftsmanship and everyday life. At street level, the storefront - with its soft natural light - has long served as a neighborhood barber shop, a place where conversations are shared as often as haircuts. The large display windows provide excellent exposure for a variety of business uses and the space invites several possibilities: continue its legacy, create something entirely your own, or reimagine it as additional living space. The two apartments offer warm, comfortable rooms with a sense of history still present in the wood floors, simple built-ins and sunlit windows. Each space feels lived-in and welcoming, with room to update or preserve its character. Outside, the deep lot stretches beyond what you might expect in a village setting, with a long driveway, garage and space to grow, gather, or simply enjoy a quieter space. Whether you're looking for an investment, a place to live and work, or an opportunity to bring new life to a well-loved property, this is one that feels both practical and full of possibilities.

16. 2026-04-01
    listed $239,000 Active 1290-char remark

    Show marketing remark (1290 chars)

    There's something special about a place like this - where business and home have quietly existed side by side for generations . Set right in the heart of Palatine Bridge on a half-acre lot, this three-unit property tells a story of connection, craftsmanship and everyday life. At street level, the storefront - with its soft natural light - has long served as a neighborhood barber shop, a place where conversations are shared as often as haircuts. The large display windows provide excellent exposure for a variety of business uses and the space invites several possibilities: continue its legacy, create something entirely your own, or reimagine it as additional living space. The two apartments offer warm, comfortable rooms with a sense of history still present in the wood floors, simple built-ins and sunlit windows. Each space feels lived-in and welcoming, with room to update or preserve its character. Outside, the deep lot stretches beyond what you might expect in a village setting, with a long driveway, garage and space to grow, gather, or simply enjoy a quieter space. Whether you're looking for an investment, a place to live and work, or an opportunity to bring new life to a well-loved property, this is one that feels both practical and full of possibilities.

17. 2026-03-30
    historical
18. 2026-01-06
    price $269,000
19. 2025-10-21
    price $289,000
20. 2025-09-03
    listed $325,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,704
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,536
• − Management: −$2,536
• − Depreciation: −$5,818
• Taxable income: $5,610
• Est. tax owed @ 24.0%: −$1,346
• After-tax cash flow: $7,114/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate rehabilitation, including painting the exterior siding, updating the kitchen cabinets and appliances, and updating the bathrooms. The property has potential for increased value through these updates, making it a good investment opportunity.

Repairs flagged

• Major Exterior siding — The exterior siding appears weathered and in need of repainting or replacement.
• Minor Interior walls and ceilings — There are signs of wear and tear, such as peeling paint and minor damage.
• Moderate Kitchen cabinets and appliances — The kitchen cabinets and appliances are present but appear dated and may need updating.
• Minor Bathrooms — The bathrooms appear to be functional but may benefit from updates to fixtures and finishes.
• Minor Flooring — The flooring in the living areas appears to be carpeted and in fair condition, but may need cleaning or replacement.
• Minor Windows — The windows appear to be in fair condition, but may benefit from new hardware or caulking.
• Minor HVAC and mechanical systems — The HVAC and mechanical systems appear to be in fair condition, but may benefit from maintenance or replacement.

Value-add opportunities

• Resale Painting the exterior siding — Painting the exterior siding can significantly enhance the curb appeal and value of the property.
• Resale Updating the kitchen cabinets and appliances — Updating the kitchen cabinets and appliances can increase the functionality and aesthetic appeal of the home, making it more attractive to potential buyers.
• Resale Updating the bathrooms — Updating the bathrooms can improve the functionality and aesthetic appeal of the home, making it more attractive to potential buyers.
• Resale Updating the windows — Updating the windows can improve the functionality and aesthetic appeal of the home, making it more attractive to potential buyers.
• Rental Maintaining the HVAC and mechanical systems — Maintaining the HVAC and mechanical systems can ensure the home is comfortable and energy-efficient, making it more attractive to potential renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The exterior siding appears weathered and in need of repainting or replacement.	Major	$15,000–50,000
Interior walls and ceilings · There are signs of wear and tear, such as peeling paint and minor damage.	Minor	$500–3,000
Kitchen cabinets and appliances · The kitchen cabinets and appliances are present but appear dated and may need updating.	Moderate	$3,000–15,000
Bathrooms · The bathrooms appear to be functional but may benefit from updates to fixtures and finishes.	Minor	$500–3,000
Flooring · The flooring in the living areas appears to be carpeted and in fair condition, but may need cleaning or replacement.	Minor	$500–3,000
Windows · The windows appear to be in fair condition, but may benefit from new hardware or caulking.	Minor	$500–3,000
HVAC and mechanical systems · The HVAC and mechanical systems appear to be in fair condition, but may benefit from maintenance or replacement.	Minor	$500–3,000
Total estimated repair cost · 7 items		$20,500–80,000

Value-add ROI direction

• Resale Painting the exterior siding — Painting the exterior siding can significantly enhance the curb appeal and value of the property. ↑
• Resale Updating the kitchen cabinets and appliances — Updating the kitchen cabinets and appliances can increase the functionality and aesthetic appeal of the home, making it more attractive to potential buyers. ↑
• Resale Updating the bathrooms — Updating the bathrooms can improve the functionality and aesthetic appeal of the home, making it more attractive to potential buyers. ↑
• Resale Updating the windows — Updating the windows can improve the functionality and aesthetic appeal of the home, making it more attractive to potential buyers. ↑
• Rental Maintaining the HVAC and mechanical systems — Maintaining the HVAC and mechanical systems can ensure the home is comfortable and energy-efficient, making it more attractive to potential renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Canajoharie Central School District
• NCES district ID: 3606300
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 59% ▲ 10.00%
• Median HH income: $49,296
• Composite: 41.39/100
• National rank: #3482
• State rank: #414 of 590 in NY

Livability — Palatine Bridge

• Score: 66/100
• State rank: #663
• US rank: #12360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatine Bridge, NY
• Population (ZIP): 1,470

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Iranian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.60%
• Current HPI: 364.8609
• 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

-38.5% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $199,999 Global MLS
• 2026-04-01 Listed $239,000 Global MLS
• 2026-03-30 Listing Removed — Global MLS
• 2026-01-06 Price Changed $269,000 Global MLS
• 2025-10-21 Price Changed $289,000 Global MLS
• 2025-09-03 Listed $325,000 Global MLS