103 Murphy Rd #86 · Fallsburg, NY 12788

$75,000

3 bd · 1.0 ba · 720 sqft · Condo · 257 Days on market

Built 1990 Fair condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

Come see all this well-maintained and cozy home has to offer, fully furnished and perfect for your summer getaway. This amazing summer home offers a Summer Day Camp for children from ages three to fourteen years old and is offered at a very reasonable price. Be sure to check out the fresh appearance with the Nursery play area, beautiful camp playground, manicured grounds, and state-of-the-art sports facilities. Bring your family to the Lansmans and start making memories. Lansmans Co-op was established in 1985 and was originally founded by the Lansmans in 1942 as a rental bungalow colony. The Co-op is situated on 100 beautiful, wooded acres in Woodbourne, NY. Lansmans offers an Olympic-sized, heated swimming pool, tennis courts, a full-size basketball court, paddleball courts, a pickleball court, a volleyball court, and a baseball field. In addition to all the fabulous amenities, an air-conditioned card room with exercise equipment and a full-service Concession for dining is available. Every weekend, enjoy some entertainment in the beautiful Lansman Playhouse. Located just a short drive from local eateries, shops, and entertainment, and also within reach of Resorts World Catskills Casino, YO1 Wellness Center, and Bethel Woods Center for the Arts. This amazing opportunity won't last long so book your showing today and see all this summer home has to offer.

Key facts

• Pickleball court
• Tennis courts
• Paddleball courts

Tags

• OLYMPIC SIZED SWIMMING POOL
• TENNIS COURTS
• BASKETBALL COURTS
• PADDLEBALL COURTS
• PICKLEBALL COURT
• BASEBALL FIELD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% 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; 1 comparable units currently listed for rent nearby; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.73% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 4.8

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: 46.3%
• Equity multiple: 4.49×
• Total profit: $73,265
• Equity at exit: $67,566

10-year hold

• IRR: 40.2%
• Equity multiple: 10.06×
• Total profit: $190,315
• Equity at exit: $145,709

Cash invested: $21,000 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $509

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 56%

Sensitivity live

Price	-10% $561	-5% $535	+0% $509	+5% $483	+10% $457
Rent	-10% $406	-5% $457	+0% $509	+5% $560	+10% $611
Rate	-1.0pp $546	-0.5pp $528	base $509	+0.5pp $489	+1.0pp $469

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
376 New York 52 Unit 6 Woodbourne, NY	2.0	1.0	750	$1,300	$1.73	44d	1	1.37mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-31
   days on market $75,000 Active 257 DOM
2. 2026-03-16
   status Active 1380-char remark

   Show marketing remark (1380 chars)

   Come see all this well-maintained and cozy home has to offer, fully furnished and perfect for your summer getaway. This amazing summer home offers a Summer Day Camp for children from ages three to fourteen years old and is offered at a very reasonable price. Be sure to check out the fresh appearance with the Nursery play area, beautiful camp playground, manicured grounds, and state-of-the-art sports facilities. Bring your family to the Lansmans and start making memories. Lansmans Co-op was established in 1985 and was originally founded by the Lansmans in 1942 as a rental bungalow colony. The Co-op is situated on 100 beautiful, wooded acres in Woodbourne, NY. Lansmans offers an Olympic-sized, heated swimming pool, tennis courts, a full-size basketball court, paddleball courts, a pickleball court, a volleyball court, and a baseball field. In addition to all the fabulous amenities, an air-conditioned card room with exercise equipment and a full-service Concession for dining is available. Every weekend, enjoy some entertainment in the beautiful Lansman Playhouse. Located just a short drive from local eateries, shops, and entertainment, and also within reach of Resorts World Catskills Casino, YO1 Wellness Center, and Bethel Woods Center for the Arts. This amazing opportunity won't last long so book your showing today and see all this summer home has to offer.

3. 2026-03-11
   historical 1380-char remark

   Show marketing remark (1380 chars)

   Come see all this well-maintained and cozy home has to offer, fully furnished and perfect for your summer getaway. This amazing summer home offers a Summer Day Camp for children from ages three to fourteen years old and is offered at a very reasonable price. Be sure to check out the fresh appearance with the Nursery play area, beautiful camp playground, manicured grounds, and state-of-the-art sports facilities. Bring your family to the Lansmans and start making memories. Lansmans Co-op was established in 1985 and was originally founded by the Lansmans in 1942 as a rental bungalow colony. The Co-op is situated on 100 beautiful, wooded acres in Woodbourne, NY. Lansmans offers an Olympic-sized, heated swimming pool, tennis courts, a full-size basketball court, paddleball courts, a pickleball court, a volleyball court, and a baseball field. In addition to all the fabulous amenities, an air-conditioned card room with exercise equipment and a full-service Concession for dining is available. Every weekend, enjoy some entertainment in the beautiful Lansman Playhouse. Located just a short drive from local eateries, shops, and entertainment, and also within reach of Resorts World Catskills Casino, YO1 Wellness Center, and Bethel Woods Center for the Arts. This amazing opportunity won't last long so book your showing today and see all this summer home has to offer.

4. 2025-09-10
   listed $75,000 Active 1380-char remark

   Show marketing remark (1380 chars)

   Come see all this well-maintained and cozy home has to offer, fully furnished and perfect for your summer getaway. This amazing summer home offers a Summer Day Camp for children from ages three to fourteen years old and is offered at a very reasonable price. Be sure to check out the fresh appearance with the Nursery play area, beautiful camp playground, manicured grounds, and state-of-the-art sports facilities. Bring your family to the Lansmans and start making memories. Lansmans Co-op was established in 1985 and was originally founded by the Lansmans in 1942 as a rental bungalow colony. The Co-op is situated on 100 beautiful, wooded acres in Woodbourne, NY. Lansmans offers an Olympic-sized, heated swimming pool, tennis courts, a full-size basketball court, paddleball courts, a pickleball court, a volleyball court, and a baseball field. In addition to all the fabulous amenities, an air-conditioned card room with exercise equipment and a full-service Concession for dining is available. Every weekend, enjoy some entertainment in the beautiful Lansman Playhouse. Located just a short drive from local eateries, shops, and entertainment, and also within reach of Resorts World Catskills Casino, YO1 Wellness Center, and Bethel Woods Center for the Arts. This amazing opportunity won't last long so book your showing today and see all this summer home has to offer.

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

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$2,182
• Taxable income: $5,221
• Est. tax owed @ 24.0%: −$1,253
• After-tax cash flow: $4,851/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 · 13 photos

Fair 45/100 Cosmetic rehab

This well-maintained mobile home offers a cozy living space with potential for cosmetic upgrades to enhance its resale and rental value.

Repairs flagged

• Minor Paint — Paint on exterior and interior walls is chipping.
• Minor Flooring — Carpet in living room and kitchen appears worn.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint will improve curb appeal and interior aesthetics.
• Both Replace carpet — New carpet will enhance comfort and appearance in the living room and kitchen.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint on exterior and interior walls is chipping.	Minor	$500–3,000
Flooring · Carpet in living room and kitchen appears worn.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint will improve curb appeal and interior aesthetics. ↑
• Both Replace carpet — New carpet will enhance comfort and appearance in the living room and kitchen. ↑

ⓘ 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: 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 — Fallsburg

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

Census & demographics

• City population: 1,891
• 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

3 events — show timeline

• 2026-03-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-10 Listed $75,000 OneKey® MLS as Distributed by MLS Grid