2850 State Highway 11b · Parishville, NY 12965

$279,000

4 bd · 2.0 ba · 2,700 sqft · MultiFamily public records · 9 Days on market

Built 1825 0.69 ac lot

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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).

• Cash flow +9.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +5.0/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Situated across from the park in the center of Hopkinton, NY, in 2022 this fabulous duplex started over again from a shell and a spectacular vision backed by impeccable taste and design capabilities that the seller had for a bright, clean, comfortable living space with a modern farmhouse vibe, creating her 2-bedroom, 1 1/2 bathroom living space and the 2 bedroom, 1 1/2 living space she designed to share with others through Airbnb. In 2022 the structure was gutted and rebuilt with new insulation, electrical, PEX plumbing, new windows, doors, wood siding, metal roof, one new kitchen with gorgeous wood cabinets from Triple A, one kitchen with refinished cabinets and everything else new (white

Key facts

• New kitchen
• New 2 car garage
• New appliances

Tags

• NEW KITCHEN
• GORGEOUS WOOD CABINETS
• REFINISHED CABINETS
• NEW APPLIANCES
• LUXURY VINYL TILE FLOORING
• NEW 2 CAR GARAGE

Property features AI

Finance

• Other: Located across from the park in Hopkinton

Exterior

• Parking: Detached garage; 2 garage spaces; Paved driveway; Garage door opener
• Utilities: Private well water; Septic tank; Cable available
• Home design: Residential income property (multi-family); Two stories
• Construction: Wood siding construction; Metal roof
• Exterior features: Covered patio; Patio; Fenced yard; Level lot; Frontage approximately 112 feet; Publicly maintained road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop; Gas cooktop
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Forced air heating (propane); Ceiling fans for cooling
• Interior features: Breakfast bar; Kitchen island; Pantry; Eat-in kitchen; Window coverings; Insulated windows; Gas fireplace in living room
• Laundry & utility: Washer and dryer included; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative. Per door: $-95/mo.
• To cash-flow at today's rent, offer at most $245k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (17.7% below list).
• Recommended offer: $230k (17.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#997 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: employment C-, health & safety C-, crime F.
• Parishville-Hopkinton Central School District (rural): math 65% / reading 51% proficiency, ranked #326 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.6% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $29k; list at $279k implies a 862% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1825 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,700 (17.7% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1825 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.92%
• DSCR: 0.87
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.39×
• Total profit: $30,392
• Equity at exit: $134,808

10-year hold

• IRR: 9.1%
• Equity multiple: 2.47×
• Total profit: $114,676
• Equity at exit: $215,344

Cash invested: $78,120 (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 12965

• Home prices YoY: 1.1%
• Active inventory: 9
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $2,297 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$425 /mo · $5,102/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $-190

Break-even live

Break-even rent $2,537

Max offer price $245,453

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,296
Total (2 units)			$2,297

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-07
   status Pending 2586-char remark
2. 2026-04-28
   listed $279,000 Active 2586-char remark
3. 2009-12-03
   soldstatus $29,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,102 · $425/mo
• Projected year-2 tax: $5,102 · $425/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,564
• − Mortgage interest: −$15,628
• − Property taxes: −$5,102
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,205
• − Management: −$2,205
• − Depreciation: −$8,116
• Taxable loss: −$7,088
• Est. tax savings @ 24.0%: +$1,701
• After-tax cash flow: $-578/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: Parishville-Hopkinton Central School District
• NCES district ID: 3622440
• Math proficiency: 65% ▲ 10.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $43,130
• Composite: 50.48/100
• National rank: #3989
• State rank: #326 of 755 in NY

Livability — Parishville

• Score: 60/100
• State rank: #997
• US rank: #19460

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 281

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Asian 4% Two or more races 1%
• Common ancestry: Serbian 14% Lithuanian 5% Slovak 5%
• Foreign-born: 3% · South Korea
• Languages at home: 92% English-only · Other Indo-European 4% German/W. Germanic 3% Spanish 1%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.59%
• Current HPI: 315.2417
• 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

+862.1% since first listed

3 events — show timeline

• 2026-05-07 Pending — SLCMLS
• 2026-04-28 Listed $279,000 SLCMLS
• 2009-12-03 Sold (Public Records) $29,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $5,102 · +2.7% YoY. Source: county tax records.