6201 State Route 42 · Woodbourne, NY 12788

$395,000

12 bd · 18.0 ba · 720 sqft · MultiFamily public records · 37 Days on market

Built 1968

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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 +25.2/30.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

3-Unit Income Property & acirc; & euro; & ldquo; ~$43K Annual | Optional Adjacent Property Available Three-unit income-producing property located on Route 42 in Woodbourne, NY. Current rental income is approximately $43,000 annually with stable, reliable tenants. Rents are set at fair levels, supporting long-term occupancy and consistent payments. Ideal for investors or owner-occupants looking to offset expenses with built-in income. Additional opportunity: An adjacent converted barn property is also available, generating approximately $24,000 annually. The two properties sit side-by-side and share a driveway. They can be purchased separately or together. Combined ownership ma

Key facts

• Built 1968
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/6.0-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $891 ($11k/yr) — positive. Per door: $297/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $395k).
• Recommended offer: $383k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Fallsburg Central School District (town): math 29% / reading 27% proficiency, ranked #583 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -24% 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 $111k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $78k; list at $395k implies a 410% gain — meaningful room to come down on a strong offer.

Recommended offer $383,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.13% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.3

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: 31.3%
• Equity multiple: 3.46×
• Total profit: $271,885
• Equity at exit: $355,847

10-year hold

• IRR: 27.1%
• Equity multiple: 7.84×
• Total profit: $756,077
• Equity at exit: $767,398

Cash invested: $110,600 (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 12788

• Home prices YoY: 2.4%
• Active inventory: 28
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $4,483 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$415 /mo · $4,977/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$941
• Net cashflow: $891

Break-even live

Break-even rent $3,355

Max offer price $395,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	6	$4,482
Total (3 units)			$4,483

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $395,000 Active 37 DOM
2. 2026-06-17
   days on market $395,000 Active 36 DOM
3. 2026-06-16
   days on market $395,000 Active 35 DOM
4. 2026-06-15
   days on market $395,000 Active 34 DOM
5. 2026-06-14
   days on market $395,000 Active 32 DOM
6. 2026-06-13
   days on market $395,000 Active 31 DOM
7. 2026-06-10
   days on market $395,000 Active 29 DOM
8. 2026-06-09
   days on market $395,000 Active 28 DOM
9. 2026-06-08
   days on market $395,000 Active 27 DOM
10. 2026-06-07
    days on market $395,000 Active 26 DOM
11. 2026-06-03
    days on market $395,000 Active 22 DOM
12. 2026-06-02
    days on market $395,000 Active 21 DOM
13. 2026-06-01
    days on market $395,000 Active 20 DOM
14. 2026-05-31
    days on market $395,000 Active 19 DOM
15. 2026-05-31
    days on market $395,000 Active 18 DOM
16. 2026-05-12
    listed $395,000 Active 918-char remark
17. 2025-07-31
    historical
18. 2025-06-30
    listed $299,500 Active
19. 2025-06-21
    price $299,500
20. 2025-06-21
    historical
21. 2024-08-14
    listed $300,000 Active
22. 2007-11-16
    soldstatus $77,500
23. 2007-11-13
    soldstatus $77,500
24. 2006-11-02
    listed $99,000

ⓘ 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: $4,977 · $415/mo
• Projected year-2 tax: $5,826 · $486/mo
• Expected delta: +$849/yr (+$71/mo · 17.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $53,796
• − Mortgage interest: −$22,126
• − Property taxes: −$4,977
• − Insurance: −$1,975
• − Repairs & maintenance: −$4,304
• − Management: −$4,304
• − Depreciation: −$11,491
• Taxable income: $4,620
• Est. tax owed @ 24.0%: −$1,109
• After-tax cash flow: $9,581/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: Fallsburg Central School District
• NCES district ID: 3610950
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $42,513
• Composite: 23.84/100
• National rank: #7805
• State rank: #583 of 590 in NY

Livability — Woodbourne

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

Census & demographics

• Census place: Woodbourne, NY
• Population (ZIP): 3,122

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 22% Black 16% Two or more races 12%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Dominican 5%
• Common ancestry: Romanian 5% Scotch-Irish 4% Iranian 4%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 9% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.93%
• Current HPI: 472.8635
• 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

+299.0% since first listed

9 events — show timeline

• 2026-05-12 Listed $395,000 FSBO.com
• 2025-07-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-06-30 Listed $299,500 OneKey® MLS as Distributed by MLS Grid
• 2025-06-21 Price Changed $299,500 OneKey® MLS as Distributed by MLS Grid
• 2025-06-21 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2024-08-14 Listed $300,000 OneKey® MLS as Distributed by MLS Grid
• 2007-11-16 Sold (MLS) $77,500 HGMLS
• 2007-11-13 Sold (Public Records) $77,500 Public Records
• 2006-11-02 Listed $99,000 HGMLS

Property tax history

+5.3%/yr

Latest (2025): $4,977 · +68.4% YoY. Source: county tax records.