1289 990v · Prattsville, NY 12076

$159,500

2 bd · 1.0 ba · 2,431 sqft · SingleFamily public records · 140 Days on market

Built 1867 0.55 ac lot

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +3.1/10.0
• Schools +2.9/10.0
• DSCR +2.8/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Wow- an amazing period home just waiting for you to bring it back to its' glory! Original details throughout with wainscoting , original woodwork throughout! Huge 2 story garage with loft would make an amazing artist studio. This is the getaway that you have been waiting for! 2hours 45 minutes GWB.

Key facts

• Cozy wood stove
• Wood floors
• Front porch

Tags

• WOOD FLOORS
• COZY WOOD STOVE
• NEW WINDOWS
• NEWER METAL ROOF
• FRONT PORCH
• RAMP ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (18.7% below list).
• Recommended offer: $130k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.5% in Prattsville — 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 53/100 on livability (#1,160 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A, cost of living B+; Watch: schools F, crime D-, amenities F.
• Gilboa-Conesville Central School District (rural): math 30% / reading 30% proficiency, ranked #724 of 755 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 35 units permitted in Schoharie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Schoharie County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $16k; list at $160k implies a 897% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1867 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,713 (18.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1867 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
8. Crime grade is D 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.75%
• DSCR: 0.88
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.72×
• Total profit: $76,886
• Equity at exit: $143,690

10-year hold

• IRR: 19.3%
• Equity multiple: 6.25×
• Total profit: $234,458
• Equity at exit: $309,873

Cash invested: $44,660 (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 12076

• Home prices YoY: 4.0%
• Active inventory: 33
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$836
• Tax from tax record: −$224 /mo · $2,689/yr
• Insurance: −$66
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-158

Break-even live

Break-even rent $1,497

Max offer price $131,623

Occupancy floor —

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-27
   status Pending
2. 2026-01-13
   price $159,500
3. 2025-10-10
   listed $164,500 Active
4. 2020-09-03
   soldstatus $16,000 Closed (Final Sale) 299-char remark

   Show marketing remark (299 chars)

   Wow- an amazing period home just waiting for you to bring it back to its' glory! Original details throughout with wainscoting , original woodwork throughout! Huge 2 story garage with loft would make an amazing artist studio. This is the getaway that you have been waiting for! 2hours 45 minutes GWB.

5. 2020-05-08
   status Pend (Under Cntr) 299-char remark

   Show marketing remark (299 chars)

   Wow- an amazing period home just waiting for you to bring it back to its' glory! Original details throughout with wainscoting , original woodwork throughout! Huge 2 story garage with loft would make an amazing artist studio. This is the getaway that you have been waiting for! 2hours 45 minutes GWB.

6. 2020-02-17
   listed $29,900 New 299-char remark

   Show marketing remark (299 chars)

   Wow- an amazing period home just waiting for you to bring it back to its' glory! Original details throughout with wainscoting , original woodwork throughout! Huge 2 story garage with loft would make an amazing artist studio. This is the getaway that you have been waiting for! 2hours 45 minutes GWB.

7. 2001-04-05
   soldstatus $55,000

ⓘ 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: $2,689 · $224/mo
• Projected year-2 tax: $2,692 · $224/mo
• Expected delta: +$3/yr ($0/mo · 0.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥85°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $15,566
• − Mortgage interest: −$8,934
• − Property taxes: −$2,689
• − Insurance: −$1,464
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$4,640
• Taxable loss: −$4,653
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $-777/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: Gilboa-Conesville Central School District
• NCES district ID: 3612120
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $50,137
• Composite: 29.05/100
• National rank: #11909
• State rank: #724 of 755 in NY

Livability — Prattsville

• Score: 53/100
• State rank: #1160
• US rank: #24537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,316

Population outlook (Schoharie County) Hauer SSP2

• Today (2025): 29,080 people
• By 2030: 27,417 · -5.7%
• By 2040: 23,835 · -18.0%
• By 2050: 20,482 · -29.6%
• By 2075: 14,323 · -50.7%
• By 2100: 9,636 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 6% Hispanic / Latino 4% Asian 2% Black 1%
• Common ancestry: Iranian 4% Italian 4% Romanian 3%
• Foreign-born: 9% · Canada
• Languages at home: 91% English-only · Other Indo-European 3% Russian/Polish/Slavic 3% Spanish 2%

Political lean MEDSL · Schoharie

• 2024 margin: Solid R (+30.5) · D 34.7% · R 65.3%
• 2008→2024 swing: -16.2pp toward R · 2008: -14.3pp · 2024: -30.5pp
• All cycles: 2024: R+30.5 2020: R+29.0 2016: R+34.7 2012: R+16.6 2008: R+14.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.08%
• Current HPI: 339.117
• 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

+190.0% since first listed

7 events — show timeline

• 2026-02-27 Pending — Global MLS
• 2026-01-13 Price Changed $159,500 Global MLS
• 2025-10-10 Listed $164,500 Global MLS
• 2020-09-03 Sold (MLS) $16,000 Global MLS
• 2020-05-08 Pending — Global MLS
• 2020-02-17 Listed $29,900 Global MLS
• 2001-04-05 Sold (Public Records) $55,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,689 · +1.6% YoY. Source: county tax records.