9 Mongaup Rd · Hurleyville, NY 12747

$595,000

5 bd · 4.0 ba · 4,800 sqft · MultiFamily · 279 Days on market

Built 1920 Fair condition 8,276 sqft lot $124/sqft · 34% below area Est $904k · 34% under ↓ 3% since listing

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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 +10.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent business opportunity in the heart of Hurleyville! This 4800 sq ft multi-family building features 5 rentals (4 apartments and a storefront front on a manageable 0.19 acre lot with municipal water and sewer. Current rentals: 1 bedroom. $1000, 1 bedroom $1100, 1 bedroom $1350, 2 bedroom $1500 Conveniently located near Main Street, shops, dining, and the Hurleyville Arts Centre and rail trails with easy access to Route 42 and Route 17 .. Strong demand and plenty upside potential for investors or owner operators.

Key facts

• 5 rentals
• Municipal water
• Municipal sewer

Tags

• MULTI-FAMILY BUILDING
• 5 RENTALS
• 0.19 ACRE LOT
• MUNICIPAL WATER
• MUNICIPAL SEWER
• EASY ACCESS TO ROUTE 42

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $595k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $595k).
• Recommended offer: $524k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade A — 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: 21 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 $64k of equity ($4k loan paydown + $60k 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 $167k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$102k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($524k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $523,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.54% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.41%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (median comp): $903,815
• List price: $595,000
• Delta: -34.17%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 41.1%
• Equity multiple: 4.14×
• Total profit: $522,336
• Equity at exit: $536,023

10-year hold

• IRR: 35.4%
• Equity multiple: 9.30×
• Total profit: $1,382,647
• Equity at exit: $1,155,954

Cash invested: $166,600 (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 12747

• Home prices YoY: 3.2%
• Active inventory: 21
• Price-to-rent: 33.1×

Monthly cashflow live

• Estimated rent: $9,143 medium
• Mortgage (P&I): −$3,120
• Tax est. 1.5%: −$744 /mo · $8,925/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,920
• Net cashflow: $3,111

Break-even live

Break-even rent $5,205

Max offer price $595,000

Occupancy floor 61%

Sensitivity live

Price	-10% $3,522	-5% $3,317	+0% $3,111	+5% $2,905	+10% $2,700
Rent	-10% $2,389	-5% $2,750	+0% $3,111	+5% $3,472	+10% $3,833
Rate	-1.0pp $3,411	-0.5pp $3,262	base $3,111	+0.5pp $2,957	+1.0pp $2,800

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$7,500
1× unit	2	1	$1,643
Total (6 units)			$9,143

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $595,000 Active 279 DOM
2. 2026-06-17
   days on market $595,000 Active 278 DOM
3. 2026-06-16
   days on market $595,000 Active 277 DOM
4. 2026-06-15
   days on market $595,000 Active 276 DOM
5. 2026-06-14
   days on market $595,000 Active 274 DOM
6. 2026-06-13
   days on market $595,000 Active 273 DOM
7. 2026-06-10
   days on market $595,000 Active 271 DOM
8. 2026-06-09
   days on market $595,000 Active 270 DOM
9. 2026-06-08
   days on market $595,000 Active 269 DOM
10. 2026-06-07
    days on market $595,000 Active 268 DOM
11. 2026-06-03
    days on market $595,000 Active 264 DOM
12. 2026-06-02
    days on market $595,000 Active 263 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    days on market $595,000 Active 262 DOM
15. 2026-05-31
    days on market $595,000 Active 261 DOM
16. 2026-05-31
    pricedays on market $595,000 Active 260 DOM
17. 2026-04-24
    price $679,000 527-char remark

    Show marketing remark (527 chars)

    Excellent business opportunity in the heart of Hurleyville! This 4800 sq ft multi-family building features 5 rentals (4 apartments and a storefront front on a manageable 0.19 acre lot with municipal water and sewer. Current rentals: 1 bedroom. $1000, 1 bedroom $1100, 1 bedroom $1350, 2 bedroom $1500 Conveniently located near Main Street, shops, dining, and the Hurleyville Arts Centre and rail trails with easy access to Route 42 and Route 17 .. Strong demand and plenty upside potential for investors or owner operators.

18. 2025-09-11
    listed $700,000 Active 527-char remark

    Show marketing remark (527 chars)

    Excellent business opportunity in the heart of Hurleyville! This 4800 sq ft multi-family building features 5 rentals (4 apartments and a storefront front on a manageable 0.19 acre lot with municipal water and sewer. Current rentals: 1 bedroom. $1000, 1 bedroom $1100, 1 bedroom $1350, 2 bedroom $1500 Conveniently located near Main Street, shops, dining, and the Hurleyville Arts Centre and rail trails with easy access to Route 42 and Route 17 .. Strong demand and plenty upside potential for investors or owner operators.

ⓘ 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 (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $109,716
• − Mortgage interest: −$33,329
• − Property taxes: −$8,925
• − Insurance: −$2,975
• − Repairs & maintenance: −$8,777
• − Management: −$8,777
• − Depreciation: −$17,309
• Taxable income: $29,623
• Est. tax owed @ 24.0%: −$7,110
• After-tax cash flow: $30,223/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. Repairs and updates to the kitchen, bathrooms, exterior, and interior walls are necessary.

Repairs flagged

• Major Appliances — Outdated and worn
• Major Bathroom fixtures — Worn and outdated
• Moderate Exterior siding — Weathered
• Moderate Hardwood floors — Worn
• Major Paint — Chipped and faded

Value-add opportunities

• Both Painting and updating fixtures — Improves appearance and functionality
• Both New flooring — Enhances living spaces and increases appeal
• Both Landscaping and curb appeal — Enhances overall property value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Outdated and worn	Major	$15,000–50,000
Bathroom fixtures · Worn and outdated	Major	$15,000–50,000
Exterior siding · Weathered	Moderate	$3,000–15,000
Hardwood floors · Worn	Moderate	$3,000–15,000
Paint · Chipped and faded	Major	$15,000–50,000
Total estimated repair cost · 5 items		$51,000–180,000

Value-add ROI direction

• Both Painting and updating fixtures — Improves appearance and functionality ↑
• Both New flooring — Enhances living spaces and increases appeal ↑
• Both Landscaping and curb appeal — Enhances overall property value and appeal ↑

ⓘ 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 — Hurleyville

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

Census & demographics

• Census place: Hurleyville, NY
• Population (ZIP): 2,036

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 12% Two or more races 11% Black 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 14% Lithuanian 10% Scotch-Irish 5%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 10% Chinese 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: ▲ 15.46%
• Current HPI: 504.332
• 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

-3.0% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $679,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-11 Listed $700,000 OneKey® MLS as Distributed by MLS Grid