71 Walnut St · Canajoharie, NY 13317

$150,000

15 bd · 5.0 ba · 4,103 sqft · MultiFamily public records · 26 Days on market

Built 1900 8,276 sqft 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 +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• 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: 5 units. estimate disagrees with records

Listing remarks

Opportunity awaits with this large 15-room approved SRO (single room occupancy) property located on a residential street in the Village of Canajoharie. Offering strong income potential, the property currently generates weekly and monthly rental income with opportunity for increased returns. The property includes five bathrooms, two kitchens and two laundry areas with washers and dryers, providing convenience and functionality for residents. Situated within walking distance to downtown shops, restaurants, and everyday amenities, the home offers both accessibility and a neighborhood setting. Off-street parking adds additional appeal, while the size and configuration create flexibility for inv

Key facts

• Two kitchens
• Two laundry areas
• Off-street parking

Tags

• STRONG INCOME POTENTIAL
• TWO KITCHENS
• TWO LAUNDRY AREAS
• OFF-STREET PARKING
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Parking: Total parking for 6 vehicles
• Utilities: Public water; Public sewer
• Home design: Multi-family property
• Construction: Asbestos construction material
• Exterior features: Lot approximately 0.19 acre

Interior

• Bedrooms: Fifteen 1-bedroom units (each unit listed as 1 bedroom)
• Bathrooms: Five full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#510 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Canajoharie Central School District (town): math 38% / reading 59% proficiency, ranked #414 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (9.5% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $45k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.34% ✓
• Cap rate: 26.92%
• Cash-on-cash: 73.66%
• DSCR: 4.28
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.8%
• Equity multiple: 6.74×
• Total profit: $240,922
• Equity at exit: $129,530

10-year hold

• IRR: 78.7%
• Equity multiple: 14.80×
• Total profit: $579,660
• Equity at exit: $273,581

Cash invested: $42,000 (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 13317

• Home prices YoY: 3.2%
• Active inventory: 31
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $5,013 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$533 /mo · $6,396/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,053
• Net cashflow: $2,578

Break-even live

Break-even rent $1,749

Max offer price $150,000

Occupancy floor 44%

Sensitivity live

Price	-10% $2,663	-5% $2,621	+0% $2,578	+5% $2,536	+10% $2,493
Rent	-10% $2,182	-5% $2,380	+0% $2,578	+5% $2,776	+10% $2,974
Rate	-1.0pp $2,654	-0.5pp $2,616	base $2,578	+0.5pp $2,539	+1.0pp $2,500

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$5,015
Total (5 units)			$5,013

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   pricedays on market $150,000 Active 26 DOM
2. 2026-06-18
   days on market $195,000 Active 24 DOM
3. 2026-06-17
   days on market $195,000 Active 23 DOM
4. 2026-06-16
   days on market $195,000 Active 22 DOM
5. 2026-06-15
   days on market $195,000 Active 21 DOM
6. 2026-06-13
   days on market $195,000 Active 19 DOM
7. 2026-06-12
   days on market $195,000 Active 18 DOM
8. 2026-06-09
   days on market $195,000 Active 15 DOM
9. 2026-06-08
   days on market $195,000 Active 14 DOM
10. 2026-06-07
    days on market $195,000 Active 13 DOM
11. 2026-06-07
    days on market $195,000 Active 12 DOM
12. 2026-06-04
    days on market $195,000 Active 9 DOM
13. 2026-06-02
    days on market $195,000 Active 8 DOM
14. 2026-06-01
    days on market $195,000 Active 7 DOM
15. 2026-05-31
    days on market $195,000 Active 6 DOM
16. 2026-05-24
    listed $195,000 Active
17. 2022-12-21
    historical
18. 2022-09-13
    price $140,000
19. 2022-07-15
    listed $150,000 Active
20. 2016-08-25
    historical
21. 2016-04-15
    listed $75,000 New
22. 2010-10-15
    historical
23. 2009-11-10
    listed $69,000
24. 2006-09-28
    soldstatus $90,000
25. 2003-10-24
    soldstatus $19,500
26. 2003-10-19
    historical
27. 2003-08-06
    soldstatus $34,000
28. 2003-06-12
    listed $19,500

ⓘ 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: $6,396 · $533/mo
• Projected year-2 tax: $6,396 · $533/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $60,156
• − Mortgage interest: −$8,402
• − Property taxes: −$6,396
• − Insurance: −$750
• − Repairs & maintenance: −$4,812
• − Management: −$4,812
• − Depreciation: −$4,364
• Taxable income: $30,620
• Est. tax owed @ 24.0%: −$7,349
• After-tax cash flow: $23,590/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: Canajoharie Central School District
• NCES district ID: 3606300
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 59% ▲ 10.00%
• Median HH income: $49,296
• Composite: 41.39/100
• National rank: #3482
• State rank: #414 of 590 in NY

Livability — Canajoharie

• Score: 69/100
• State rank: #510
• US rank: #9061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canajoharie, NY
• Population (ZIP): 3,970

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 79% English-only · German/W. Germanic 19% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.48%
• Current HPI: 303.1499
• 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

+900.0% since first listed

13 events — show timeline

• 2026-05-24 Listed $195,000 Global MLS
• 2022-12-21 Listing Removed — Global MLS
• 2022-09-13 Price Changed $140,000 Global MLS
• 2022-07-15 Listed $150,000 Global MLS
• 2016-08-25 Listing Removed — Global MLS
• 2016-04-15 Listed $75,000 Global MLS
• 2010-10-15 Listing Removed — Global MLS
• 2009-11-10 Listed $69,000 Global MLS
• 2006-09-28 Sold (Public Records) $90,000 Public Records
• 2003-10-24 Sold (MLS) $19,500 Global MLS
• 2003-10-19 Listing Removed — Global MLS
• 2003-08-06 Sold (Public Records) $34,000 Public Records
• 2003-06-12 Listed $19,500 Global MLS

Property tax history

+4.4%/yr

Latest (2025): $6,396 · +18.3% YoY. Source: county tax records.