7 Division St · Fort Plain, NY 13338

$99,000

2 bd · 1.5 ba · 1,300 sqft · MultiFamily · 31 Days on market

Built 1950 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 +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Investor special with strong income potential! Opportunity to renovate and reposition this mixed-use/multi-unit property in the Village of Fort Plain. Property features a 2-bedroom apartment plus an additional studio-style unit, offering the potential for dual rental income. Separate living spaces, public utilities, off-street parking, and a convenient location near downtown amenities add to the long-term upside. Property will require repairs and updates, making it ideal for investors, flippers, or buyers looking to build equity and add value. Sold as-is, where-is. Cash or renovation-style financing may be best suited for this property.

Key facts

• Mixed-use property
• Dual rental income
• Convenient location

Tags

• MIXED-USE PROPERTY
• DUAL RENTAL INCOME
• SEPARATE LIVING SPACES
• PUBLIC UTILITIES
• OFF-STREET PARKING
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Two-unit property with separate gas and electric meters for the building; Operating expense details: see remarks; Owner-paid items: see remarks; Rent inclusions: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story building; Existing construction; Flat roof; Brick construction
• Construction: Brick construction; Flat roof
• Exterior features: Rectangular lot; Main thoroughfare frontage

Interior

• Flooring: Laminate; Tile; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric baseboard heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#374 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: schools D, commute F, employment F.
• Fort Plain Central School District (rural): math 43% / reading 57% proficiency, ranked #401 of 590 in NY (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($684 loan paydown + $8k appreciation (7.9% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($96k) 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.43%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.9%
• Equity multiple: 4.16×
• Total profit: $87,708
• Equity at exit: $74,349

10-year hold

• IRR: 41.3%
• Equity multiple: 8.90×
• Total profit: $219,060
• Equity at exit: $146,767

Cash invested: $27,720 (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 13338

• Home prices YoY: 1.7%
• Active inventory: 40
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,814 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $749

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 54%

Sensitivity live

Price	-10% $818	-5% $783	+0% $749	+5% $715	+10% $681
Rent	-10% $606	-5% $677	+0% $749	+5% $821	+10% $892
Rate	-1.0pp $799	-0.5pp $774	base $749	+0.5pp $723	+1.0pp $697

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $99,000 Active 31 DOM
2. 2026-06-18
   days on market $99,000 Active 29 DOM
3. 2026-06-17
   days on market $99,000 Active 28 DOM
4. 2026-06-16
   days on market $99,000 Active 27 DOM
5. 2026-06-15
   days on market $99,000 Active 26 DOM
6. 2026-06-13
   days on market $99,000 Active 24 DOM
7. 2026-06-12
   days on market $99,000 Active 23 DOM
8. 2026-06-09
   days on market $99,000 Active 20 DOM
9. 2026-06-08
   days on market $99,000 Active 19 DOM
10. 2026-06-07
    days on market $99,000 Active 18 DOM
11. 2026-06-07
    days on market $99,000 Active 17 DOM
12. 2026-06-04
    days on market $99,000 Active 14 DOM
13. 2026-06-02
    days on market $99,000 Active 13 DOM
14. 2026-06-01
    days on market $99,000 Active 12 DOM
15. 2026-05-31
    days on market $99,000 Active 11 DOM
16. 2026-05-20
    listed $99,000 Active
17. 2025-08-23
    historical $1,100
18. 2025-05-22
    price $1,100
19. 2025-05-04
    listed $995

ⓘ 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: $21,771
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$2,880
• Taxable income: $7,882
• Est. tax owed @ 24.0%: −$1,892
• After-tax cash flow: $7,097/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance, including painting, landscaping, and sidewalk repair. While it has strong income potential, the current condition may deter buyers. Addressing these issues can significantly increase its resale and rental value.

Repairs flagged

• Major Painting — Peeling paint on the brick facade
• Major Landscaping — Overgrown vegetation around the property
• Major Sidewalk — Cracked sidewalk

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and property value
• Both Landscaping and planting — Improves curb appeal and attracts tenants
• Both Sidewalk repair — Ensures accessibility and safety for potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Peeling paint on the brick facade	Major	$15,000–50,000
Landscaping · Overgrown vegetation around the property	Major	$15,000–50,000
Sidewalk · Cracked sidewalk	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and property value ↑
• Both Landscaping and planting — Improves curb appeal and attracts tenants ↑
• Both Sidewalk repair — Ensures accessibility and safety for potential buyers ↑

ⓘ 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: Fort Plain Central School District
• NCES district ID: 3611370
• Math proficiency: 43% ▲ 4.00%
• Reading proficiency: 57% ▲ 18.00%
• Median HH income: $41,754
• Composite: 41.94/100
• National rank: #3352
• State rank: #401 of 590 in NY

Livability — Fort Plain

• Score: 72/100
• State rank: #374
• US rank: #6455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Plain, NY
• Population (ZIP): 1,293

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 9% Lithuanian 6% Subsaharan African 5%
• Foreign-born: 4% · China
• Languages at home: 93% English-only · Russian/Polish/Slavic 5% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.87%
• Current HPI: 470.5822
• 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

+8900.0% since first listed

4 events — show timeline

• 2026-05-20 Listed $99,000 CNYIS
• 2025-08-23 Rental Removed $1,100 BUILDIUM
• 2025-05-22 Price Changed $1,100 BUILDIUM
• 2025-05-04 Listed for Rent $995 BUILDIUM