2 N Montgomery · Athens, NY 12015

$279,995

3 bd · 1.5 ba · 2,609 sqft · SingleFamily public records · 17 Days on market

Built 1860 6,534 sqft lot Est $550k · 49% under

---

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 +8.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

2 N Montgomery St, Athens, NY 12015 Located within the Athens Historic District, this property reflects the character and charm of the village's traditional 19th-century architecture. The home retains period features such as wood siding and original trim work, consistent with the area's historic appeal. Positioned on a corner lot with mature trees, the setting offers a view of neighbouring historic residences and access to village amenities. The location offers proximity to the Hudson River, village shops, cafes, and cultural landmarks such as the Athens Riverfront Park and Athens Lighthouse. The setting provides access to local community amenities while maintaining the aesthetic charact

Key facts

• Original trim work
• Wood siding
• Corner lot

Tags

• ATHENS HISTORIC DISTRICT
• 19TH-CENTURY ARCHITECTURE
• WOOD SIDING
• ORIGINAL TRIM WORK
• CORNER LOT
• MATURE TREES

Property features AI

Finance

• HOA & community: Curbs, street lights and sidewalks in the community

Exterior

• Home design: Residential income property (single family residence); 2 stories
• Construction: Wood siding; Concrete basement; Basement with exterior entry
• Exterior features: Private entrance; Partially fenced backyard

Interior

• Bedrooms: Basement with exterior entry
• Flooring: Wood
• Heating & cooling: Has cooling; Other cooling type
• Interior features: Wood flooring; Private entrance

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $280k).
• Recommended offer: $276k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#785 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools F, amenities F, commute F.
• 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; 2 comparable units currently listed for rent nearby; 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 $78k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $280k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,795 (1.5% below list)

Questions for the listing agent

1. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.87% ✓
• Cap rate: 25.50%
• Cash-on-cash: 68.59%
• DSCR: 4.05
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $550,499
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
—	0.13mi	3/2.0	2,500 (-4%)	10mo	$756,450	$303	77
13 S Franklin St #3	0.16mi	4/— (+1)	2,959 (+13%)	4mo	$625,000	$211	62
16 Murphy Dr	0.35mi	3/2.5	2,340 (-10%)	14mo	$385,000	$165	51

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: 75.9%
• Equity multiple: 5.66×
• Total profit: $365,069
• Equity at exit: $174,685

10-year hold

• IRR: 73.2%
• Equity multiple: 11.85×
• Total profit: $850,858
• Equity at exit: $315,640

Cash invested: $78,399 (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: 2.9×

Monthly cashflow live

• Estimated rent: $8,042 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$287 /mo · $3,449/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,689
• Net cashflow: $4,481

Break-even live

Break-even rent $2,370

Max offer price $279,995

Occupancy floor 39%

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: $69,999
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 Warren St Hudson, NY	3.0	2.0	2464	$5,300	$2.15	23d	1	1.23mi
188 Mt Merino Rd Hudson, NY	4.0	3.5	2800	$11,000	$3.93	23d	1	1.30mi

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-13
   listed $279,995 Active
3. 2009-05-12
   soldstatus $50,000

ⓘ 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: $3,449 · $287/mo
• Projected year-2 tax: $4,091 · $341/mo
• Expected delta: +$641/yr (+$53/mo · 18.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $96,507
• − Mortgage interest: −$15,684
• − Property taxes: −$3,449
• − Insurance: −$1,400
• − Repairs & maintenance: −$7,721
• − Management: −$7,721
• − Depreciation: −$8,145
• Taxable income: $52,388
• Est. tax owed @ 24.0%: −$12,573
• After-tax cash flow: $41,199/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: 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 — Athens

• Score: 63/100
• State rank: #785
• US rank: #15102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, NY
• 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

+460.0% since first listed

3 events — show timeline

• 2026-04-30 Pending — HVCRMLS
• 2026-04-13 Listed $279,995 HVCRMLS
• 2009-05-12 Sold (Public Records) $50,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,449 · +3.3% YoY. Source: county tax records.