189 E Front St · Hancock, NY 13783

$249,900

5 bd · 3.0 ba · 2,420 sqft · MultiFamily public records · 143 Days on market

Built 1900 0.25 ac lot $103/sqft · 200% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +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

Nestled in the heart of the historic Village of Hancock, this expansive 6-bedroom 3-bathroom multi-family residence offers the perfect blend of space, versatility and small-town convenience. Situated on a . 25 of an acre lot you are just a stroll to public access to the Gateway to the Delaware River known worldwide for its premier trout fishing. Walking distance to stores, restaurants, doctors' office, schools, and community parks. Easy access to Rt 17/I-86 east and west.

Key facts

• Trout fishing
• 0.25 acre lot
• Built 1900

Tags

• HISTORIC VILLAGE OF HANCOCK
• PUBLIC ACCESS TO THE GATEWAY
• TROUT FISHING
• WALKING DISTANCE TO STORES
• WALKING DISTANCE TO SCHOOLS
• EASY ACCESS TO RT 17/I-86

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $80k; list at $250k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1900 — 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 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?
6. 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.
7. 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.
8. 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: 1.92% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.20%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (median comp): $101,394
• List price: $249,900
• Delta: 146.47%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
186 E Main St	0.05mi	5/3.0	2,200 (-9%)	23mo	$50,000	$23	64

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: 51.3%
• Equity multiple: 4.81×
• Total profit: $266,893
• Equity at exit: $225,130

10-year hold

• IRR: 44.9%
• Equity multiple: 10.77×
• Total profit: $683,325
• Equity at exit: $485,501

Cash invested: $69,972 (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: 13.0×

Monthly cashflow live

• Estimated rent: $4,800 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$325 /mo · $3,901/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $2,052

Break-even live

Break-even rent $2,202

Max offer price $249,900

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,800
Total (3 units)			$4,800

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $249,900 Active 143 DOM
2. 2026-06-17
   days on market $249,900 Active 142 DOM
3. 2026-06-16
   days on market $249,900 Active 141 DOM
4. 2026-06-15
   days on market $249,900 Active 140 DOM
5. 2026-06-13
   days on market $249,900 Active 138 DOM
6. 2026-06-12
   days on market $249,900 Active 137 DOM
7. 2026-06-09
   days on market $249,900 Active 134 DOM
8. 2026-06-08
   days on market $249,900 Active 133 DOM
9. 2026-06-07
   days on market $249,900 Active 132 DOM
10. 2026-06-07
    days on market $249,900 Active 131 DOM
11. 2026-06-04
    days on market $249,900 Active 128 DOM
12. 2026-06-02
    days on market $249,900 Active 127 DOM
13. 2026-06-01
    days on market $249,900 Active 126 DOM
14. 2026-05-31
    days on market $249,900 Active 125 DOM
15. 2026-01-26
    listed $249,900 Active 476-char remark

    Show marketing remark (476 chars)

    Nestled in the heart of the historic Village of Hancock, this expansive 6-bedroom 3-bathroom multi-family residence offers the perfect blend of space, versatility and small-town convenience. Situated on a . 25 of an acre lot you are just a stroll to public access to the Gateway to the Delaware River known worldwide for its premier trout fishing. Walking distance to stores, restaurants, doctors' office, schools, and community parks. Easy access to Rt 17/I-86 east and west.

16. 2022-10-20
    soldstatus $80,000 259-char remark

    Show marketing remark (259 chars)

    Multi family right in the village of Hancock. Walking distance to all amenities as well as public river access. 3 apartments total, 2 currently rented so it's already an income producer! Call today and make an appointment. * * MASKS ARE REQUIRED WHEN SHOWING

17. 2022-10-20
    soldstatus $80,000 Closed

    Show marketing remark (259 chars)

    Multi family right in the village of Hancock. Walking distance to all amenities as well as public river access. 3 apartments total, 2 currently rented so it's already an income producer! Call today and make an appointment. * * MASKS ARE REQUIRED WHEN SHOWING

18. 2022-07-25
    listed $110,000 259-char remark

    Show marketing remark (259 chars)

    Multi family right in the village of Hancock. Walking distance to all amenities as well as public river access. 3 apartments total, 2 currently rented so it's already an income producer! Call today and make an appointment. * * MASKS ARE REQUIRED WHEN SHOWING

19. 1994-07-15
    soldstatus $28,000

ⓘ 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: $3,901 · $325/mo
• Projected year-2 tax: $4,062 · $339/mo
• Expected delta: +$161/yr (+$13/mo · 4.1%)

ⓘ 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 (shaded) · 72% 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: $57,600
• − Mortgage interest: −$13,998
• − Property taxes: −$3,901
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,608
• − Management: −$4,608
• − Depreciation: −$7,270
• Taxable income: $21,965
• Est. tax owed @ 24.0%: −$5,272
• After-tax cash flow: $19,356/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

+792.5% since first listed

5 events — show timeline

• 2026-01-26 Listed $249,900 GBAOR
• 2022-10-20 Sold (MLS) $80,000 ODBOR
• 2022-10-20 Sold (MLS) $80,000 UNYREIS
• 2022-07-25 Listed $110,000 UNYREIS
• 1994-07-15 Sold (Public Records) $28,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $3,901 · +2.6% YoY. Source: county tax records.