6 Fortunato Rd · Hancock, NY 13783

$179,000

2 bd · 1.5 ba · 1,161 sqft · Manufactured public records · 262 Days on market

Built 1993 0.56 ac lot $154/sqft · 48% below area Est $347k · 48% 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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Appreciation +10.0/10.0
• 1% rule +3.9/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Excellent location and construction. This home will make a cozy first home or a convenient second home for fishermen. Easy to care for and lots of storage for boats and toys. Craft room in basement could be converted to a third bedroom. Must see, this will not last!

Key facts

• Lots of storage
• 0.56 acre lot
• 2 garage spots

Tags

• LOTS OF STORAGE
• CRAFT ROOM IN BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (10.6% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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; 1 comparable units currently listed for rent nearby; 66 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.89% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 9.3

CMA / ARV

• ARV (median comp): $347,159
• List price: $179,000
• Delta: -48.44%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.4%
• Equity multiple: 2.80×
• Total profit: $90,413
• Equity at exit: $161,257

10-year hold

• IRR: 20.1%
• Equity multiple: 6.43×
• Total profit: $272,120
• Equity at exit: $347,758

Cash invested: $50,120 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$308 /mo · $3,696/yr
• Insurance: −$75
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-113

Break-even live

Break-even rent $1,743

Max offer price $159,070

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-62	+0% $-113	+5% $-163	+10% $-214
Rent	-10% $-239	-5% $-176	+0% $-113	+5% $-50	+10% $14
Rate	-1.0pp $-23	-0.5pp $-67	base $-113	+0.5pp $-159	+1.0pp $-206

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 E Main St Apt 2 Hancock, NY	2.0	1.0	800	$1,600	$2.00	44d	1	1.16mi

Listing history 10 events

1. 2026-05-31
   status $179,000 Pending 262 DOM
2. 2026-04-07
   price $179,000 266-char remark

   Show marketing remark (266 chars)

   Excellent location and construction. This home will make a cozy first home or a convenient second home for fishermen. Easy to care for and lots of storage for boats and toys. Craft room in basement could be converted to a third bedroom. Must see, this will not last!

3. 2025-09-24
   status Active 266-char remark

   Show marketing remark (266 chars)

   Excellent location and construction. This home will make a cozy first home or a convenient second home for fishermen. Easy to care for and lots of storage for boats and toys. Craft room in basement could be converted to a third bedroom. Must see, this will not last!

4. 2025-09-14
   status Pending 266-char remark

   Show marketing remark (266 chars)

   Excellent location and construction. This home will make a cozy first home or a convenient second home for fishermen. Easy to care for and lots of storage for boats and toys. Craft room in basement could be converted to a third bedroom. Must see, this will not last!

5. 2025-08-31
   listed $189,000 Active 266-char remark

   Show marketing remark (266 chars)

   Excellent location and construction. This home will make a cozy first home or a convenient second home for fishermen. Easy to care for and lots of storage for boats and toys. Craft room in basement could be converted to a third bedroom. Must see, this will not last!

6. 2021-02-10
   soldstatus $140,000
7. 2021-01-19
   soldstatus $140,000 343-char remark

   Show marketing remark (343 chars)

   Picture perfect ranch fits into the landscaped yard and forms an ideal picture. Just outside the Village of Hancock, so it is convenient to everything. Well maintained home is ready to move in. Delaware river sits just down the hill, enjoy fishing and kayaking all summer long. Perennial gardens provide color to the landscape nearly all year.

8. 2021-01-19
   soldstatus $140,000

   Show marketing remark (343 chars)

   Picture perfect ranch fits into the landscaped yard and forms an ideal picture. Just outside the Village of Hancock, so it is convenient to everything. Well maintained home is ready to move in. Delaware river sits just down the hill, enjoy fishing and kayaking all summer long. Perennial gardens provide color to the landscape nearly all year.

9. 2020-10-10
   listed $150,000 343-char remark

   Show marketing remark (343 chars)

   Picture perfect ranch fits into the landscaped yard and forms an ideal picture. Just outside the Village of Hancock, so it is convenient to everything. Well maintained home is ready to move in. Delaware river sits just down the hill, enjoy fishing and kayaking all summer long. Perennial gardens provide color to the landscape nearly all year.

10. 2020-10-10
    listed $150,000

    Show marketing remark (343 chars)

    Picture perfect ranch fits into the landscaped yard and forms an ideal picture. Just outside the Village of Hancock, so it is convenient to everything. Well maintained home is ready to move in. Delaware river sits just down the hill, enjoy fishing and kayaking all summer long. Perennial gardens provide color to the landscape nearly all year.

ⓘ 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: $3,696 · $308/mo
• Projected year-2 tax: $3,696 · $308/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$10,027
• − Property taxes: −$3,696
• − Insurance: −$1,562
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,207
• Taxable loss: −$4,364
• Est. tax savings @ 24.0%: +$1,047
• After-tax cash flow: $-307/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

• 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

+19.3% since first listed

9 events — show timeline

• 2026-04-07 Price Changed $179,000 UNYREIS
• 2025-09-24 Relisted — UNYREIS
• 2025-09-14 Pending — UNYREIS
• 2025-08-31 Listed $189,000 UNYREIS
• 2021-02-10 Sold (Public Records) $140,000 Public Records
• 2021-01-19 Sold (MLS) $140,000 ODBOR
• 2021-01-19 Sold (MLS) $140,000 UNYREIS
• 2020-10-10 Listed $150,000 ODBOR
• 2020-10-10 Listed $150,000 UNYREIS

Property tax history

+5.1%/yr

Latest (2025): $3,696 · +3.0% YoY. Source: county tax records.