405 West Main Street St · Hancock, NY 12783

$99,000

2 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 243 Days on market

Built 1900 5,662 sqft lot Est $140k · 29% under ↓ 48% since listing

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Ranch style , 2-3 bedroom, one bath home with loads of potential ! Was formerly a popular green house business. Needs TLC, but has many great features, such as a large sunny kitchen, covered porch, with a ramp for easy in & out. Full basement, attic, and car port. Sitting on a 75x147 village lot, just a short walk to all village amenities, and the beautiful Delaware River !

Key facts

• 5,662 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

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: amenities D, commute F, employment 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.
• Zoned schools: Hancock Elementary School (math 15% / reading 34%, grade F, #1,825 of 2,108 statewide, top 88%, 96 students, 54% FRL).
• Zoned-school proficiency averages 25% at this address vs 40% district-wide (-15 pts) — the specific schools serving this property underperform the Hancock Central School District average; the district grade overstates school quality for this exact location.
• Market conditions: 35 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 $11k of equity ($684 loan paydown + $10k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 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 $75k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.62% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.54%
• DSCR: 1.82
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $140,300
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Leonard St	0.29mi	3/1.0 (+1)	1,260 (+10%)	21mo	$154,000	$122	48

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: 35.9%
• Equity multiple: 3.78×
• Total profit: $77,123
• Equity at exit: $89,187

10-year hold

• IRR: 31.0%
• Equity multiple: 8.55×
• Total profit: $209,305
• Equity at exit: $192,335

Cash invested: $27,720 (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 12783

• Home prices YoY: 2.5%
• Active inventory: 35
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $362

Break-even live

Break-even rent $1,142

Max offer price $99,000

Occupancy floor 72%

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: $24,750
• Closing costs: $2,970
• 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	0.74mi

Listing history 11 events

1. 2025-04-22
   soldstatus $75,120
2. 2025-03-11
   status Pending
3. 2024-07-11
   listed $99,000 Active
4. 2024-06-24
   historical
5. 2023-12-28
   listed $109,000 Active
6. 2023-11-03
   historical
7. 2023-11-01
   price $109,000
8. 2023-08-25
   price $115,000
9. 2023-07-16
   price $125,000
10. 2023-05-18
    price $140,000
11. 2022-11-04
    listed $145,000 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°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: −$5,546
• − Property taxes: −$3,303
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$2,880
• Taxable income: $3,107
• Est. tax owed @ 24.0%: −$746
• After-tax cash flow: $3,597/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

• Census place: Hancock, NY
• Population (ZIP): 1,357

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 6% Black 6%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Romanian 4% Danish 2% Scotch-Irish 2%
• Foreign-born: 12% · Canada
• Languages at home: 81% English-only · Other Indo-European 9% Spanish 5% Russian/Polish/Slavic 4%

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: ▲ 10.43%
• Current HPI: 433.2531
• 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

-48.2% since first listed

11 events — show timeline

• 2025-04-22 Sold (Public Records) $75,120 Public Records
• 2025-03-11 Pending — GBAOR
• 2024-07-11 Listed $99,000 GBAOR
• 2024-06-24 Listing Removed — UNYREIS
• 2023-12-28 Listed $109,000 UNYREIS
• 2023-11-03 Listing Removed — UNYREIS
• 2023-11-01 Price Changed $109,000 UNYREIS
• 2023-08-25 Price Changed $115,000 UNYREIS
• 2023-07-16 Price Changed $125,000 UNYREIS
• 2023-05-18 Price Changed $140,000 UNYREIS
• 2022-11-04 Listed $145,000 UNYREIS

Property tax history

+5.3%/yr

Latest (2025): $3,303 · +2.5% YoY. Source: county tax records.