24 Grove St · Cairo, NY 12413

$360,000

5 bd · 3.0 ba · 2,100 sqft · MultiFamily public records · 337 Days on market

Built 1900 5,662 sqft lot $171/sqft · 18% below area Est $439k · 18% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• 1% rule +6.4/10.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Turn key, 3 unit-multi family building located right outside the village of Cairo. This property is on a one way street with off street parking. First floor apartment has 2 bedrooms, 1 bath. Second floor apartment is 2 bedrooms, 1 bath. Third floor apartment has 1 bed, 1 bath. With apartment 2 currently vacant, a buyer has the unique opportunity to move in and let rental income from the other 2 units help cover the mortgage-live affordably while building equity.

Key facts

• Off street parking
• Rental income
• 5,662 sq ft lot

Tags

• MULTI FAMILY BUILDING
• OFF STREET PARKING
• RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive. Per door: $287/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $317k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.9% in Cairo — 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 64/100 on livability (#755 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools D-, amenities F, commute F.
• Cairo-Durham Central School District (rural): math 41% / reading 48% proficiency, ranked #470 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Greene County population projected at -22% 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 $101k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 4 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 $221k; list at $360k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $316,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 337 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — 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. 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?
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: 1.14% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

• ARV (median comp): $439,254
• List price: $360,000
• Delta: -18.04%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40 Grove St	0.03mi	5/3.0	2,230 (+6%)	21mo	$104,000	$47	71

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: 31.8%
• Equity multiple: 3.49×
• Total profit: $250,948
• Equity at exit: $324,317

10-year hold

• IRR: 27.5%
• Equity multiple: 7.90×
• Total profit: $695,828
• Equity at exit: $699,401

Cash invested: $100,800 (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 12413

• Active inventory: 62
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $4,102 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$341 /mo · $4,091/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $862

Break-even live

Break-even rent $3,011

Max offer price $360,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$4,101
Total (3 units)			$4,102

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-10
   days on market $360,000 Active 337 DOM
2. 2026-06-09
   days on market $360,000 Active 336 DOM
3. 2026-06-08
   days on market $360,000 Active 335 DOM
4. 2026-06-07
   days on market $360,000 Active 334 DOM
5. 2026-06-05
   days on market $360,000 Active 331 DOM
6. 2026-06-03
   days on market $360,000 Active 330 DOM
7. 2026-06-02
   days on market $360,000 Active 329 DOM
8. 2026-06-01
   days on market $360,000 Active 328 DOM
9. 2026-05-31
   days on market $360,000 Active 327 DOM
10. 2026-05-31
    days on market $360,000 Active 326 DOM
11. 2026-03-13
    price $360,000 466-char remark

    Show marketing remark (466 chars)

    Turn key, 3 unit-multi family building located right outside the village of Cairo. This property is on a one way street with off street parking. First floor apartment has 2 bedrooms, 1 bath. Second floor apartment is 2 bedrooms, 1 bath. Third floor apartment has 1 bed, 1 bath. With apartment 2 currently vacant, a buyer has the unique opportunity to move in and let rental income from the other 2 units help cover the mortgage-live affordably while building equity.

12. 2025-07-08
    listed $365,000 Active 466-char remark

    Show marketing remark (466 chars)

    Turn key, 3 unit-multi family building located right outside the village of Cairo. This property is on a one way street with off street parking. First floor apartment has 2 bedrooms, 1 bath. Second floor apartment is 2 bedrooms, 1 bath. Third floor apartment has 1 bed, 1 bath. With apartment 2 currently vacant, a buyer has the unique opportunity to move in and let rental income from the other 2 units help cover the mortgage-live affordably while building equity.

13. 2022-12-28
    soldstatus $221,000
14. 2022-11-08
    soldstatus $221,000 Sold 604-char remark

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

15. 2022-11-08
    soldstatus $221,000

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

16. 2022-11-01
    status Pending (Fully Executed Contract) 604-char remark

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

17. 2022-09-14
    listed Accepted (Show) 604-char remark

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

18. 2022-05-25
    listed $225,000 604-char remark

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

19. 2022-05-25
    listed $225,000

    Show marketing remark (604 chars)

    This 3 family apt building in Cairo has many updates and upgrades and a great location. The property consists of two 2 bedroom 1 bath apartments and one 1 bedroom 1 bath apartment. Only 2 of the apartments are currently rented at this time and that is intentional in case someone wants to buy as an owner occupied. Rents are under valued due to long time tenants. Estimated rent for vacant apartment $1400-$1500 mo. Current tenants are month to month. Major roof repairs in 2018, new boiler and oil tank 2021. Easy commute to NYS Thruway, Catskill, Windham, Greenville. Seller is a NYS Real Estate Broker

20. 2005-05-25
    soldstatus $109,000
21. 1995-07-27
    soldstatus $59,000

ⓘ 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: $4,091 · $341/mo
• Projected year-2 tax: $5,087 · $424/mo
• Expected delta: +$997/yr (+$83/mo · 24.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $49,224
• − Mortgage interest: −$20,166
• − Property taxes: −$4,091
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,938
• − Management: −$3,938
• − Depreciation: −$10,473
• Taxable income: $4,819
• Est. tax owed @ 24.0%: −$1,157
• After-tax cash flow: $9,185/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: Cairo-Durham Central School District
• NCES district ID: 3606160
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 48% ▲ 8.00%
• Median HH income: $46,192
• Composite: 37.84/100
• National rank: #4330
• State rank: #470 of 590 in NY

Livability — Cairo

• Score: 64/100
• State rank: #755
• US rank: #14433

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cairo, NY
• City population: 3,406
• Population (ZIP): 3,406

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Iranian 4% Romanian 4% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 2%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 140.58%
• Current HPI: 406.4299
• 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

+510.2% since first listed

11 events — show timeline

• 2026-03-13 Price Changed $360,000 HVCRMLS
• 2025-07-08 Listed $365,000 HVCRMLS
• 2022-12-28 Sold (Public Records) $221,000 Public Records
• 2022-11-08 Sold (MLS) $221,000 HVCRMLS
• 2022-11-08 Sold (MLS) $221,000 HVCRMLS
• 2022-11-01 Pending — HVCRMLS
• 2022-09-14 Listed — HVCRMLS
• 2022-05-25 Listed $225,000 HVCRMLS
• 2022-05-25 Listed $225,000 HVCRMLS
• 2005-05-25 Sold (Public Records) $109,000 Public Records
• 1995-07-27 Sold (Public Records) $59,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,091 · +4.1% YoY. Source: county tax records.