115 State Highway 51 · Gilbertsville, NY 13809

$84,000

6 bd · 2.0 ba · 4,080 sqft · SingleFamily public records · 356 Days on market

Built 1885 0.37 ac lot

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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 +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity for handyman with large family. .. would make a great air b n b. .. or a contractor could return it to a 4FD. Nice spot next to the Unadilla river. Spacious rooms inside. Design to your liking!

Key facts

• 0.37 acre lot
• Parking
• Built 1885

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#892 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment B; Watch: health & safety C-, schools D+, crime D-.
• Gilbertsville-Mount Upton Central School District (rural): math 40% / reading 35% proficiency, ranked #666 of 755 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 151 units permitted in Chenango County in 2024 (96 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($581 loan paydown + $8k appreciation (10.0% local appreciation)).
• Chenango County population projected at -26% 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $84k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 356 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 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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 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: 1.86% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.76%
• DSCR: 2.37
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.7%
• Equity multiple: 3.35×
• Total profit: $55,158
• Equity at exit: $75,674

10-year hold

• IRR: 25.9%
• Equity multiple: 7.63×
• Total profit: $155,967
• Equity at exit: $163,194

Cash invested: $23,520 (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 13809

• Home prices YoY: 5.8%
• Active inventory: 13
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,561 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$155 /mo · $1,860/yr
• Insurance: −$35
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $142

Break-even live

Break-even rent $1,381

Max offer price $84,000

Occupancy floor 86%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $84,000 Active 356 DOM
2. 2026-06-17
   days on market $84,000 Active 355 DOM
3. 2026-06-16
   days on market $84,000 Active 354 DOM
4. 2026-06-15
   days on market $84,000 Active 353 DOM
5. 2026-06-13
   days on market $84,000 Active 351 DOM
6. 2026-06-12
   days on market $84,000 Active 350 DOM
7. 2026-06-09
   days on market $84,000 Active 347 DOM
8. 2026-06-08
   days on market $84,000 Active 346 DOM
9. 2026-06-07
   days on market $84,000 Active 345 DOM
10. 2026-06-05
    days on market $84,000 Active 343 DOM
11. 2026-06-04
    days on market $84,000 Active 341 DOM
12. 2026-06-02
    days on market $84,000 Active 340 DOM
13. 2026-06-01
    days on market $84,000 Active 339 DOM
14. 2026-05-31
    days on market $84,000 Active 338 DOM
15. 2025-06-27
    listed $89,900 Active 211-char remark

    Show marketing remark (211 chars)

    Great opportunity for handyman with large family. .. would make a great air b n b. .. or a contractor could return it to a 4FD. Nice spot next to the Unadilla river. Spacious rooms inside. Design to your liking!

16. 2025-05-27
    soldstatus $35,000 Closed 351-char remark

    Show marketing remark (351 chars)

    If you are a handyman, contractor or investor, come look at this spaciouse propoerty located on the Unadilla river. Was once a 4 FD. .. has been used a s a 1FD recently. Needs tlc and vision to make this into a great B & B or Air B & B. 4000 square feet to design! 4 garages in need of a roof. Need a ash buyer and close before end of May!

17. 2025-05-21
    status Pending 351-char remark

    Show marketing remark (351 chars)

    If you are a handyman, contractor or investor, come look at this spaciouse propoerty located on the Unadilla river. Was once a 4 FD. .. has been used a s a 1FD recently. Needs tlc and vision to make this into a great B & B or Air B & B. 4000 square feet to design! 4 garages in need of a roof. Need a ash buyer and close before end of May!

18. 2025-05-09
    listed $65,000 Active 351-char remark

    Show marketing remark (351 chars)

    If you are a handyman, contractor or investor, come look at this spaciouse propoerty located on the Unadilla river. Was once a 4 FD. .. has been used a s a 1FD recently. Needs tlc and vision to make this into a great B & B or Air B & B. 4000 square feet to design! 4 garages in need of a roof. Need a ash buyer and close before end of May!

19. 2025-05-08
    historical
20. 2024-10-23
    price $125,000
21. 2024-10-23
    listed $149,900 Active
22. 2002-04-19
    soldstatus $62,500
23. 1997-08-29
    soldstatus $29,000

ⓘ 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: $1,860 · $155/mo
• Projected year-2 tax: $1,860 · $155/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $18,734
• − Mortgage interest: −$4,705
• − Property taxes: −$1,860
• − Insurance: −$5,945
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$2,444
• Taxable income: $783
• Est. tax owed @ 24.0%: −$188
• After-tax cash flow: $1,521/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: Gilbertsville-Mount Upton Central School District
• NCES district ID: 3604757
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $48,974
• Composite: 34.86/100
• National rank: #10004
• State rank: #666 of 755 in NY

Livability — Gilbertsville

• Score: 62/100
• State rank: #892
• US rank: #17305

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,688

Population outlook (Chenango County) Hauer SSP2

• Today (2025): 45,669 people
• By 2030: 43,484 · -4.8%
• By 2040: 38,774 · -15.1%
• By 2050: 34,000 · -25.6%
• By 2075: 24,637 · -46.1%
• By 2100: 16,452 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Italian 8% Lithuanian 4% Portuguese 4%
• Foreign-born: 1% · Canada

Political lean MEDSL · Chenango

• 2024 margin: Strong R (+27.2) · D 36.4% · R 63.6%
• 2008→2024 swing: -26.1pp toward R · 2008: -1.1pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+23.3 2016: R+28.1 2012: R+3.4 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.07%
• Current HPI: 274.4556
• 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

+210.0% since first listed

9 events — show timeline

• 2025-06-27 Listed $89,900 UNYREIS
• 2025-05-27 Sold (MLS) $35,000 UNYREIS
• 2025-05-21 Pending — UNYREIS
• 2025-05-09 Listed $65,000 UNYREIS
• 2025-05-08 Listing Removed — UNYREIS
• 2024-10-23 Price Changed $125,000 UNYREIS
• 2024-10-23 Listed $149,900 UNYREIS
• 2002-04-19 Sold (Public Records) $62,500 Public Records
• 1997-08-29 Sold (Public Records) $29,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,860 · -1.3% YoY. Source: county tax records.