2236 New York 385 · Sleepy Hollow Lake, NY 12015

$290,000

5 bd · 2.0 ba · 2,793 sqft · SingleFamily · 66 Days on market

Built 1930 Fair condition 0.97 ac lot $104/sqft · 60% below area ↓ 12% since listing

---

Why this score? — see what drove the C- 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 +14.6/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This old-style brick home appears on maps dating back to 1867 and is recognized as one of the sixteen original schoolhouses that helped establish the C-A school district. The property has retained much of its authentic charm and appeal. From this location, you can enjoy seasonal views of the Hudson River as well as sweeping vistas of the distant Berkshires. Protected state lands extend just beyond the backyard, nearly reaching the river. With almost 2,800 square feet of space, the home offers five bedrooms and two full bathrooms. The living room, formal dining room, and kitchen are defined by plaster walls and archways, preserving the historic architectural details. Many of the original hardwood tongue-and-groove floors are still intact, adding warmth and character to the interior. Additional features that enhance this picturesque property include a full basement, a circular driveway, an oversized two-car garage, a back porch designed to capture the scenic views, and a solar electrical dish that nearly eliminates the electric bill. The home is ready for new owners and is well-suited for updates, allowing you to make this former schoolhouse uniquely yours.

Key facts

• Sweeping vistas
• Back porch
• Seasonal views

Tags

• SEASONAL VIEWS
• SWEEPING VISTAS
• PROTECTED STATE LANDS
• HISTORIC ARCHITECTURAL DETAILS
• BACK PORCH

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $290k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $70 ($845/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (9.4% below list).
• Recommended offer: $263k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.3% in Sleepy Hollow Lake — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Coxsackie-Athens Central School District (town): math 43% / reading 56% proficiency, ranked #384 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 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 $19k of equity ($2k loan paydown + $17k appreciation (5.9% 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 (5.9% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $262,598 (9.4% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $732,361
• List price: $290,000
• Delta: -60.40%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Classic Ct	0.70mi	4/3.0 (-1)	2,400 (-14%)	1mo	$980,000	$408	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.07×
• Total profit: $86,957
• Equity at exit: $180,927

10-year hold

• IRR: 16.1%
• Equity multiple: 4.11×
• Total profit: $252,687
• Equity at exit: $326,918

Cash invested: $81,200 (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 12015

• Home prices YoY: 1.4%
• Active inventory: 91
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,626 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $70

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 92%

Sensitivity live

Price	-10% $271	-5% $171	+0% $70	+5% $-30	+10% $-130
Rent	-10% $-137	-5% $-33	+0% $70	+5% $174	+10% $278
Rate	-1.0pp $216	-0.5pp $144	base $70	+0.5pp $-5	+1.0pp $-81

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $290,000 Active 66 DOM
2. 2026-06-17
   days on market $290,000 Active 65 DOM
3. 2026-06-16
   days on market $290,000 Active 64 DOM
4. 2026-06-15
   days on market $290,000 Active 63 DOM
5. 2026-06-14
   days on market $290,000 Active 61 DOM
6. 2026-06-13
   days on market $290,000 Active 60 DOM
7. 2026-06-10
   days on market $290,000 Active 58 DOM
8. 2026-06-09
   days on market $290,000 Active 57 DOM
9. 2026-06-08
   days on market $290,000 Active 56 DOM
10. 2026-06-07
    days on market $290,000 Active 55 DOM
11. 2026-06-05
    days on market $290,000 Active 52 DOM
12. 2026-06-03
    days on market $290,000 Active 51 DOM
13. 2026-06-02
    days on market $290,000 Active 50 DOM
14. 2026-06-01
    days on market $290,000 Active 49 DOM
15. 2026-05-31
    days on market $290,000 Active 48 DOM
16. 2026-05-31
    days on market $290,000 Active 47 DOM
17. 2026-04-29
    price $290,000 1175-char remark

    Show marketing remark (1175 chars)

    This old-style brick home appears on maps dating back to 1867 and is recognized as one of the sixteen original schoolhouses that helped establish the C-A school district. The property has retained much of its authentic charm and appeal. From this location, you can enjoy seasonal views of the Hudson River as well as sweeping vistas of the distant Berkshires. Protected state lands extend just beyond the backyard, nearly reaching the river. With almost 2,800 square feet of space, the home offers five bedrooms and two full bathrooms. The living room, formal dining room, and kitchen are defined by plaster walls and archways, preserving the historic architectural details. Many of the original hardwood tongue-and-groove floors are still intact, adding warmth and character to the interior. Additional features that enhance this picturesque property include a full basement, a circular driveway, an oversized two-car garage, a back porch designed to capture the scenic views, and a solar electrical dish that nearly eliminates the electric bill. The home is ready for new owners and is well-suited for updates, allowing you to make this former schoolhouse uniquely yours.

18. 2026-04-13
    listed $329,000 Active 1175-char remark

    Show marketing remark (1175 chars)

    This old-style brick home appears on maps dating back to 1867 and is recognized as one of the sixteen original schoolhouses that helped establish the C-A school district. The property has retained much of its authentic charm and appeal. From this location, you can enjoy seasonal views of the Hudson River as well as sweeping vistas of the distant Berkshires. Protected state lands extend just beyond the backyard, nearly reaching the river. With almost 2,800 square feet of space, the home offers five bedrooms and two full bathrooms. The living room, formal dining room, and kitchen are defined by plaster walls and archways, preserving the historic architectural details. Many of the original hardwood tongue-and-groove floors are still intact, adding warmth and character to the interior. Additional features that enhance this picturesque property include a full basement, a circular driveway, an oversized two-car garage, a back porch designed to capture the scenic views, and a solar electrical dish that nearly eliminates the electric bill. The home is ready for new owners and is well-suited for updates, allowing you to make this former schoolhouse uniquely yours.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $31,512
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,521
• − Management: −$2,521
• − Depreciation: −$8,436
• Taxable loss: −$4,011
• Est. tax savings @ 24.0%: +$963
• After-tax cash flow: $1,807/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathrooms, and improve the landscaping. These updates will significantly increase its resale and rental value.

Repairs flagged

• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major landscaping — overgrown and needs trimming and planting

Value-add opportunities

• Resale update kitchen appliances — modern appliances will attract more buyers
• Resale update bathrooms — modern fixtures will attract more buyers
• Both landscaping — improved curb appeal will attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
landscaping · overgrown and needs trimming and planting	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale update kitchen appliances — modern appliances will attract more buyers ↑
• Resale update bathrooms — modern fixtures will attract more buyers ↑
• Both landscaping — improved curb appeal will attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Coxsackie-Athens Central School District
• NCES district ID: 3608490
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 56% ▲ 19.00%
• Median HH income: $55,006
• Composite: 42.8/100
• National rank: #3143
• State rank: #384 of 590 in NY

Livability — Sleepy Hollow Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,084

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 4% Dominican 2%
• Common ancestry: Romanian 3% Iranian 3% Scotch-Irish 2%
• Foreign-born: 11% · Canada, South Korea, Vietnam
• Languages at home: 90% English-only · Russian/Polish/Slavic 5% Other Indo-European 2% Spanish 1%

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: ▲ 5.93%
• Current HPI: 426.3034
• 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

-11.9% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $290,000 Global MLS
• 2026-04-13 Listed $329,000 Global MLS