97 Carrington Rd · Windham, NY 12496

$449,000

4 bd · 2.0 ba · 1,808 sqft · SingleFamily · 86 Days on market

Built 1981 3.40 ac lot $248/sqft · at area comps Est $456k · at est.

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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).

• ARV discount +8.2/15.0
• Cash flow +7.8/30.0
• Appreciation +7.5/10.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.9/10.0

Listing remarks MLS

Streamfront Serenity Meets Mountain Views -- Bordering Protected NYC DEP Lands Bordered by 160 acres of DEP land and the pristine Batavia Kill Creek, this beautifully updated split-level retreat delivers the kind of setting buyers come to the Catskills for--wide open meadows, mountain views, and the calming sound of water just steps from your back deck. This is where privacy, nature, and convenience all come together. Designed with both lifestyle and functionality in mind, the lower level welcomes you with a dedicated gear drop zone--perfect after a day on the slopes or exploring the outdoors. A spacious family room with a bay window is filled with natural light and complemented by a kitchenette complete with sink, cabinetry, and wine fridge--ideal for entertaining or easily converted into a separate apartment with its own entrance. Two bedrooms and a fully updated bath complete this level, offering flexibility for guests or income potential. Upstairs, the open-concept layout is bright and inviting, featuring a renovated kitchen with stone countertops, stainless steel appliances, and seamless flow into the dining area and oversized living room. Sliding glass doors lead to a recently expanded deck--perfect for morning coffee or evening unwinding with uninterrupted views of the surrounding landscape. Two additional bedrooms and a full bath with updated vanities and lighting complete the main level. Additional highlights include wood flooring, new flooring in all bedrooms, and an abundance of natural sunlight throughout. With a Windham mailing address and located in the Town of Ashland, this property offers easy access to both Windham and Prattsville for shopping, dining, and year-round conveniences. Whether you're seeking a full-time residence, weekend escape, or investment opportunity with potential for a separate living space, this property checks every box for Catskills living. A 3D Walkthrough Tour is available in the digital Lookbook or by request.

Key facts

• 3.4 acre lot
• Built 1981
• Listed 86 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $-501 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $377k (16.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (26.6% below list).
• Recommended offer: $329k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.2% in Windham — 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 60/100 on livability (#964 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment B+; Watch: schools C-, crime D+, cost of living D+.
• Windham-Ashland-Jewett Central School District (rural): math 55% / reading 40% proficiency, ranked #517 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 145 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 $26k of equity ($3k loan paydown + $23k appreciation (5.1% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $360k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $329,371 (26.6% 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 86 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• GRM: 11.4

CMA / ARV

• ARV (median comp): $456,417
• List price: $449,000
• Delta: -1.63%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Steep Hill Road Rd	0.18mi	4/2.0	1,920 (+6%)	14mo	$437,825	$228	70

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

Projected returns pro-forma

5.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.58×
• Total profit: $73,073
• Equity at exit: $255,972

10-year hold

• IRR: 10.7%
• Equity multiple: 2.97×
• Total profit: $247,998
• Equity at exit: $443,044

Cash invested: $125,720 (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 12496

• Home prices YoY: 1.2%
• Active inventory: 145
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,294 medium
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $-501

Break-even live

Break-even rent $3,928

Max offer price $376,518

Occupancy floor —

Sensitivity live

Price	-10% $-191	-5% $-346	+0% $-501	+5% $-656	+10% $-811
Rent	-10% $-761	-5% $-631	+0% $-501	+5% $-371	+10% $-241
Rate	-1.0pp $-275	-0.5pp $-387	base $-501	+0.5pp $-617	+1.0pp $-736

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $449,000 Active 86 DOM
2. 2026-06-18
   days on market $449,000 Active 84 DOM
3. 2026-06-17
   days on market $449,000 Active 83 DOM
4. 2026-06-16
   days on market $449,000 Active 82 DOM
5. 2026-06-15
   days on market $449,000 Active 81 DOM
6. 2026-06-13
   days on market $449,000 Active 79 DOM
7. 2026-06-12
   days on market $449,000 Active 78 DOM
8. 2026-06-09
   days on market $449,000 Active 75 DOM
9. 2026-06-08
   days on market $449,000 Active 74 DOM
10. 2026-06-07
    days on market $449,000 Active 73 DOM
11. 2026-06-07
    days on market $449,000 Active 72 DOM
12. 2026-06-04
    days on market $449,000 Active 69 DOM
13. 2026-06-02
    days on market $449,000 Active 68 DOM
14. 2026-06-01
    days on market $449,000 Active 67 DOM
15. 2026-05-31
    days on market $449,000 Active 66 DOM
16. 2026-03-26
    listed $449,000 Active 1989-char remark

    Show marketing remark (1989 chars)

    Streamfront Serenity Meets Mountain Views -- Bordering Protected NYC DEP Lands Bordered by 160 acres of DEP land and the pristine Batavia Kill Creek, this beautifully updated split-level retreat delivers the kind of setting buyers come to the Catskills for--wide open meadows, mountain views, and the calming sound of water just steps from your back deck. This is where privacy, nature, and convenience all come together. Designed with both lifestyle and functionality in mind, the lower level welcomes you with a dedicated gear drop zone--perfect after a day on the slopes or exploring the outdoors. A spacious family room with a bay window is filled with natural light and complemented by a kitchenette complete with sink, cabinetry, and wine fridge--ideal for entertaining or easily converted into a separate apartment with its own entrance. Two bedrooms and a fully updated bath complete this level, offering flexibility for guests or income potential. Upstairs, the open-concept layout is bright and inviting, featuring a renovated kitchen with stone countertops, stainless steel appliances, and seamless flow into the dining area and oversized living room. Sliding glass doors lead to a recently expanded deck--perfect for morning coffee or evening unwinding with uninterrupted views of the surrounding landscape. Two additional bedrooms and a full bath with updated vanities and lighting complete the main level. Additional highlights include wood flooring, new flooring in all bedrooms, and an abundance of natural sunlight throughout. With a Windham mailing address and located in the Town of Ashland, this property offers easy access to both Windham and Prattsville for shopping, dining, and year-round conveniences. Whether you're seeking a full-time residence, weekend escape, or investment opportunity with potential for a separate living space, this property checks every box for Catskills living. A 3D Walkthrough Tour is available in the digital Lookbook or by request.

17. 2021-04-07
    soldstatus $360,000
18. 2021-04-07
    soldstatus $360,000
19. 2020-12-09
    listed $350,000
20. 2020-12-09
    listed $350,000
21. 2018-11-27
    listed $260,000
22. 2018-11-26
    listed $260,000

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $39,525
• − Mortgage interest: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$3,162
• − Management: −$3,162
• − Depreciation: −$13,062
• Taxable loss: −$13,992
• Est. tax savings @ 24.0%: +$3,358
• After-tax cash flow: $-2,653/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: Windham-Ashland-Jewett Central School District
• NCES district ID: 3631590
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 40% ▼ -10.00%
• Median HH income: $46,942
• Composite: 42.57/100
• National rank: #6842
• State rank: #517 of 755 in NY

Livability — Windham

• Score: 60/100
• State rank: #964
• US rank: #18888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,241

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 (84%)
• Race & ethnicity: White 84% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 5% Hispanic 4% Lithuanian 3%
• Foreign-born: 18% · Canada
• Languages at home: 75% English-only · Russian/Polish/Slavic 10% French/Haitian/Cajun 7% Other Indo-European 4%

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: ▲ 5.06%
• Current HPI: 425.2138
• 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

+72.7% since first listed

7 events — show timeline

• 2026-03-26 Listed $449,000 HVCRMLS
• 2021-04-07 Sold (MLS) $360,000 HVCRMLS
• 2021-04-07 Sold (MLS) $360,000 HVCRMLS
• 2020-12-09 Listed $350,000 HVCRMLS
• 2020-12-09 Listed $350,000 HVCRMLS
• 2018-11-27 Listed $260,000 HVCRMLS
• 2018-11-26 Listed $260,000 HVCRMLS