62 Mccrea St · Fort Edward, NY 12828

$89,900

2 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 17 Days on market

Built 1951 3,049 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 +23.0/30.0
• 1% rule +8.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

ATTENTION INVESTORS, HANDY OWNER OCCUPANTS! Great opportunity at 62 McCrea St in Fort Edward. This 1,364 SF property sits on a 45' x 75' lot with public water and sewer. Bring your vision and your contractor. WILL NOT QUALIFY FOR TRADITIONAL FINANCING. Perfect candidate for a fix-and-flip, rental conversion, or value-add project. Priced for condition and being sold as-is. Strong upside potential for buyers willing to put in the work. Cash, rehab loan, or private financing only. Don't miss your chance to transform this diamond in the rough into a profitable investment.

Key facts

• 3,049 sq ft lot
• Built 1951
• Listed 17 days

Property features AI

Exterior

• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence
• Construction: Stucco construction
• Exterior features: Enclosed patio/porch; Porch

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Three bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating
• Interior features: 6 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Fort Edward — 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 73/100 on livability (#334 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D+, commute D+, employment D.
• Fort Edward Union Free School District (suburban): math 50% / reading 45% proficiency, ranked #512 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (6.1% local appreciation)).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $90k implies a 649% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $227,788
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Seminary St	0.17mi	3/2.0 (+1)	1,386 (+2%)	2mo	$202,900	$146	79
21 Seminary St	0.15mi	2/2.0	1,278 (-6%)	5mo	$201,000	$157	75
13 Windcrest Dr	0.35mi	2/1.0	1,312 (-4%)	6mo	$256,175	$195	73
4 Hobbs Ln	0.53mi	3/1.0 (+1)	1,264 (-7%)	1mo	$330,000	$261	57
251 Broadway	0.54mi	3/1.0 (+1)	1,434 (+5%)	12mo	$71,250	$50	51
4 Lincoln Ave	0.63mi	3/1.0 (+1)	1,317 (-3%)	11mo	$220,000	$167	51
2 Birch Dr	0.61mi	3/2.0 (+1)	1,300 (-5%)	6mo	$474,900	$365	50
1 Laurel Rd	0.63mi	3/2.0 (+1)	1,334 (-2%)	11mo	$375,000	$281	49
10 Edward St	0.72mi	3/2.0 (+1)	1,404 (+3%)	5mo	$50,000	$36	48
10 Edward St	0.73mi	3/2.0 (+1)	1,404 (+3%)	5mo	$50,000	$36	48
21 Taylor St	0.67mi	3/1.0 (+1)	1,245 (-9%)	9mo	$164,000	$132	42
18 Hillview Ave	0.60mi	2/1.0	1,166 (-14%)	8mo	$242,000	$208	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 2.46×
• Total profit: $36,651
• Equity at exit: $56,956

10-year hold

• IRR: 20.9%
• Equity multiple: 4.97×
• Total profit: $99,937
• Equity at exit: $103,670

Cash invested: $25,172 (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 12828

• Home prices YoY: 1.9%
• Active inventory: 44
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,168 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$254 /mo · $3,051/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $160

Break-even live

Break-even rent $966

Max offer price $89,900

Occupancy floor 81%

Sensitivity live

Price	-10% $211	-5% $185	+0% $160	+5% $134	+10% $109
Rent	-10% $67	-5% $114	+0% $160	+5% $206	+10% $252
Rate	-1.0pp $205	-0.5pp $183	base $160	+0.5pp $136	+1.0pp $113

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $89,900 Active 17 DOM
2. 2026-06-18
   days on market $89,900 Active 15 DOM
3. 2026-06-17
   days on market $89,900 Active 14 DOM
4. 2026-06-16
   days on market $89,900 Active 13 DOM
5. 2026-06-15
   days on market $89,900 Active 12 DOM
6. 2026-06-13
   days on market $89,900 Active 10 DOM
7. 2026-06-12
   days on market $89,900 Active 9 DOM
8. 2026-06-09
   days on market $89,900 Active 6 DOM
9. 2026-06-08
   days on market $89,900 Active 5 DOM
10. 2026-06-07
    days on market $89,900 Active 4 DOM
11. 2026-06-07
    days on market $89,900 Active 3 DOM
12. 2026-06-04
    remarks 574-char remark
13. 2026-06-04
    listed $89,900 Active 1 DOM

ⓘ 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: $3,051 · $254/mo
• Projected year-2 tax: $3,051 · $254/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 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,019
• − Mortgage interest: −$5,036
• − Property taxes: −$3,051
• − Insurance: −$450
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$2,615
• Taxable income: $624
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $1,767/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: Fort Edward Union Free School District
• NCES district ID: 3611310
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $49,124
• Composite: 42.76/100
• National rank: #6771
• State rank: #512 of 755 in NY

Livability — Fort Edward

• Score: 73/100
• State rank: #334
• US rank: #5647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Edward, NY
• Population (ZIP): 9,775

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.08%
• Current HPI: 327.6439
• 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

+649.2% since first listed

2 events — show timeline

• 2026-06-02 Listed $89,900 Global MLS
• 1993-11-01 Sold (Public Records) $12,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $3,051 · -4.6% YoY. Source: county tax records.