14 Elizabeth St · Plattsburgh, NY 12901

$185,000

4 bd · 2.0 ba · 1,634 sqft · MultiFamily public records · 8 Days on market

Built 1889 4,356 sqft lot

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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 +26.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Occupied two and a half story duplex in the city of Plattsburgh. New hot water tanks, long time occupancy. 600 amp service, off street parking and laundry hookups in each unit.

Key facts

• Off street parking
• Hot water tanks
• Laundry hookups

Tags

• HOT WATER TANKS
• OFF STREET PARKING
• LAUNDRY HOOKUPS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive. Per door: $246/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 9.5% vs local median 2.8% in Plattsburgh — 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 75/100 on livability (#262 in NY, #4,134 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, employment D+, crime F.
• Plattsburgh City School District (town): math 33% / reading 55% proficiency, ranked #484 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 176 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.57% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,667
• Equity at exit: $27,584

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $43,226
• Equity at exit: $15,995

Cash invested: $51,800 (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 12901

• Home prices YoY: -22.5%
• Active inventory: 176
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,912 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$762 /mo · $9,146/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $491

Break-even live

Break-even rent $2,290

Max offer price $185,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,150	-5% $1,086	+0% $491	+5% $439	+10% $386
Rent	-10% $261	-5% $376	+0% $491	+5% $606	+10% $721
Rate	-1.0pp $584	-0.5pp $538	base $491	+0.5pp $443	+1.0pp $394

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,912
Total (2 units)			$2,912

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-26
   status Pending
2. 2026-03-18
   listed $185,000 Active
3. 2023-02-22
   soldstatus $169,900
4. 2023-02-02
   soldstatus $169,900
5. 2023-02-02
   listed $169,900
6. 2016-11-09
   soldstatus $110,000
7. 2015-12-31
   soldstatus $85,000

ⓘ 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: $9,146 · $762/mo
• Projected year-2 tax: $9,146 · $762/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $34,944
• − Mortgage interest: −$10,363
• − Property taxes: −$9,146
• − Insurance: −$925
• − Repairs & maintenance: −$2,796
• − Management: −$2,796
• − Depreciation: −$5,382
• Taxable income: $3,537
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $5,044/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: Plattsburgh City School District
• NCES district ID: 3623280
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $38,322
• Composite: 36.61/100
• National rank: #4626
• State rank: #484 of 590 in NY

Livability — Plattsburgh

• Score: 75/100
• State rank: #262
• US rank: #4134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plattsburgh, NY
• Population (ZIP): 32,012

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3% Asian 3%
• Common ancestry: Lithuanian 15% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.55%
• Current HPI: 252.8692
• 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

+117.6% since first listed

7 events — show timeline

• 2026-03-26 Pending — ACVMLS
• 2026-03-18 Listed $185,000 ACVMLS
• 2023-02-22 Sold (Public Records) $169,900 Public Records
• 2023-02-02 Sold (MLS) $169,900 ACVMLS
• 2023-02-02 Listed $169,900 ACVMLS
• 2016-11-09 Sold (Public Records) $110,000 Public Records
• 2015-12-31 Sold (Public Records) $85,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $9,146 · +3.3% YoY. Source: county tax records.