128 Trow Bridge Rd · Margaretville, NY 12455

$280,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 23 Days on market

Built 1951 1.40 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +6.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

River Song Cottage Tucked into a peaceful setting. This classic cedar sided three-bedroom cottage offers timeless charm and solid bones. A full basement provides excellent storage or future expansion, while the stone fireplace anchors the home with cozy character. Best of all the property is not located in the floodplain a rare and valuable feature. Ideally situated near the vibrant hamlets of Margaretville and Andes. you'll enjoy easy access to shops, dining and outdoor recreation. Some buyers may choose to renovate and personalize making this an inviting opportunity to create a Catskills retreat, weekend getaway, or full time residence A special place with room to make it your own. Ea

Key facts

• Ensuring privacy
• Not in a flood zone
• Dead end road

Tags

• DEAD END ROAD
• ENSURING PRIVACY
• SOUND AND VIEW OF THE RIVER
• NOT IN A FLOOD ZONE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $276k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.0% in Margaretville — 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 65/100 on livability (#711 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A, cost of living A-; Watch: employment D, schools F, crime F.
• Margaretville Central School District (rural): math 30% / reading 25% proficiency, ranked #734 of 755 in NY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 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 $14k of equity ($2k loan paydown + $12k appreciation (4.4% 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 (4.4% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,800 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.10% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.57%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.16×
• Total profit: $90,757
• Equity at exit: $147,951

10-year hold

• IRR: 19.2%
• Equity multiple: 4.17×
• Total profit: $248,176
• Equity at exit: $246,891

Cash invested: $78,400 (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 12455

• Home prices YoY: 1.2%
• Active inventory: 46
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,086 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$227 /mo · $2,730/yr
• Insurance: −$117
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $570

Break-even live

Break-even rent $2,365

Max offer price $280,000

Occupancy floor 77%

Sensitivity live

Price	-10% $728	-5% $649	+0% $570	+5% $491	+10% $411
Rent	-10% $326	-5% $448	+0% $570	+5% $692	+10% $814
Rate	-1.0pp $711	-0.5pp $641	base $570	+0.5pp $497	+1.0pp $423

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-02-24
   status Pending
2. 2026-01-29
   listed $280,000 Active

ⓘ 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: $2,730 · $227/mo
• Projected year-2 tax: $3,731 · $311/mo
• Expected delta: +$1,001/yr (+$83/mo · 36.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 9 d/yr ≥89°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,031
• − Mortgage interest: −$15,684
• − Property taxes: −$2,730
• − Insurance: −$2,066
• − Repairs & maintenance: −$2,962
• − Management: −$2,962
• − Depreciation: −$8,145
• Taxable income: $2,480
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $6,243/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: Margaretville Central School District
• NCES district ID: 3618510
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $42,369
• Composite: 26.35/100
• National rank: #12675
• State rank: #734 of 755 in NY

Livability — Margaretville

• Score: 65/100
• State rank: #711
• US rank: #13534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,859

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 5% Iranian 3% Slovak 3%
• Foreign-born: 21% · Canada, South Korea
• Languages at home: 77% English-only · Spanish 12% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▲ 4.36%
• Current HPI: 355.7672
• 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

2 events — show timeline

• 2026-02-24 Pending — UNYREIS
• 2026-01-29 Listed $280,000 UNYREIS

Property tax history

+3.4%/yr

Latest (2025): $2,730 · +1.0% YoY. Source: county tax records.