365 Wahl St · Clayton, NY 13624

$49,900

2 bd · 1.0 ba · 572 sqft · Manufactured · 176 Days on market

Built 1971 Good condition $87/sqft · 32% below area Est $73k · 32% under ↓ 31% 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 +9.7/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

Key facts

• View of the river
• Built 1971
• Listed 175 days

Tags

• VIEW OF THE RIVER
• UPDATED WITH NEW WINDOWS
• WALKING DISTANCE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.8% vs local median 1.5% in Clayton — 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 66/100 on livability (#621 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; Watch: employment C-, health & safety D, amenities F.
• Thousand Islands Central School District (rural): math 60% / reading 56% proficiency, ranked #262 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 55 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (9.4% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.98% ✓
• Cap rate: 16.78%
• Cash-on-cash: 37.47%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $73,161
• List price: $49,900
• Delta: -31.79%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

9.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.3%
• Equity multiple: 4.79×
• Total profit: $52,902
• Equity at exit: $42,744

10-year hold

• IRR: 46.4%
• Equity multiple: 10.55×
• Total profit: $133,485
• Equity at exit: $89,926

Cash invested: $13,972 (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 13624

• Home prices YoY: 2.3%
• Active inventory: 55
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $436

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 51%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $49,900 Active 176 DOM
2. 2026-06-18
   days on market $49,900 Active 175 DOM
3. 2026-06-17
   days on market $49,900 Active 174 DOM
4. 2026-06-16
   days on market $49,900 Active 173 DOM
5. 2026-06-15
   days on market $49,900 Active 172 DOM
6. 2026-06-14
   days on market $49,900 Active 170 DOM
7. 2026-06-12
   days on market $49,900 Active 169 DOM
8. 2026-06-09
   days on market $49,900 Active 166 DOM
9. 2026-06-08
   days on market $49,900 Active 165 DOM
10. 2026-06-07
    days on market $49,900 Active 164 DOM
11. 2026-06-02
    days on market $49,900 Active 159 DOM
12. 2026-06-01
    days on market $49,900 Active 158 DOM
13. 2026-05-31
    days on market $49,900 Active 157 DOM
14. 2026-05-30
    pricedays on market $49,900 Active 156 DOM
15. 2026-05-17
    price $54,900 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

16. 2026-05-16
    status Active 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

17. 2026-05-07
    historical Active Under Contract 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

18. 2026-03-31
    status Active 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

19. 2026-03-31
    price $69,900 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

20. 2025-12-18
    status Active 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

21. 2025-11-23
    historical Active Under Contract 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

22. 2025-10-26
    listed $79,900 Active 1149-char remark

    Show marketing remark (1149 chars)

    Affordable Living in Beautiful Clayton, NY! Here’s your chance to own a well-maintained home in the sought-after French Creek Marina Park—just steps from the stunning St. Lawrence River! Enjoy peaceful river views right from the front of the property, along with the charm and character of Clayton. This home has been thoughtfully updated with newer windows, doors, siding, and roof—offering comfort and peace of mind for years to come. Sold fully furnished, it’s truly move-in ready—just pack your bags and start enjoying river life! You’ll love the convenient location within walking distance to downtown Clayton, where you can explore local shops, restaurants, and seasonal events. French Creek Marina Park offers fantastic amenities, including: * Free boat launch * Dock space available (additional fee) * Full-service marina with mechanics and parts * Private roads perfect for walking and relaxing Whether you're searching for a summer retreat or an affordable escape, this property checks all the boxes. Don’t miss out—schedule your showing today and start living the river lifestyle!

ⓘ 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: $11,865
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$1,452
• Taxable income: $4,722
• Est. tax owed @ 24.0%: −$1,133
• After-tax cash flow: $4,102/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 · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained manufactured home in Clayton, NY, is move-in ready with updated windows, doors, siding, and roof. It offers a peaceful river view and is conveniently located near downtown Clayton.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Modern flooring improves aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Modern flooring improves aesthetics and functionality ↑

ⓘ 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: Thousand Islands Central School District
• NCES district ID: 3607650
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $55,233
• Composite: 49.94/100
• National rank: #1930
• State rank: #262 of 590 in NY

Livability — Clayton

• Score: 66/100
• State rank: #621
• US rank: #11271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, NY
• Population (ZIP): 4,438

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.39%
• Current HPI: 418.5008
• 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

-31.3% since first listed

8 events — show timeline

• 2026-05-17 Price Changed $54,900 CNYIS
• 2026-05-16 Relisted — CNYIS
• 2026-05-07 Contingent — CNYIS
• 2026-03-31 Relisted — CNYIS
• 2026-03-31 Price Changed $69,900 CNYIS
• 2025-12-18 Relisted — CNYIS
• 2025-11-23 Contingent — CNYIS
• 2025-10-26 Listed $79,900 CNYIS