25950 State Route 26 · Plessis, NY 13656

$79,900

2 bd · 1.0 ba · 3,650 sqft · SingleFamily public records · 337 Days on market

Built 1875 Poor condition 0.44 ac lot ↓ 33% since listing

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Why this score? — see what drove the C 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 +17.7/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +6.0/10.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

Key facts

• Versatile gem
• Expansive front room
• 0.44 acre lot

Tags

• EXPANSIVE FRONT ROOM
• VERSATILE GEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $65 ($777/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($879 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#815 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A; Watch: health & safety D, schools D-, crime F.
• Alexandria Central School District (rural): math 46% / reading 56% proficiency, ranked #378 of 590 in NY (top 64%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 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 ($552 loan paydown + $4k appreciation (5.1% 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 (5.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 337 days. Have you received any prior offers? Is the seller open to a 12% 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 1875 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 1.10% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 2.03×
• Total profit: $22,958
• Equity at exit: $45,656

10-year hold

• IRR: 16.5%
• Equity multiple: 3.94×
• Total profit: $65,801
• Equity at exit: $79,111

Cash invested: $22,372 (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 13656

• Home prices YoY: 1.4%
• Active inventory: 9
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $879 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$177 /mo · $2,124/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $65

Break-even live

Break-even rent $797

Max offer price $79,900

Occupancy floor 88%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $79,900 Active 337 DOM
2. 2026-06-17
   days on market $79,900 Active 336 DOM
3. 2026-06-16
   days on market $79,900 Active 335 DOM
4. 2026-06-15
   days on market $79,900 Active 334 DOM
5. 2026-06-13
   days on market $79,900 Active 332 DOM
6. 2026-06-12
   days on market $79,900 Active 331 DOM
7. 2026-06-09
   days on market $79,900 Active 328 DOM
8. 2026-06-08
   days on market $79,900 Active 327 DOM
9. 2026-06-07
   days on market $79,900 Active 326 DOM
10. 2026-06-07
    days on market $79,900 Active 325 DOM
11. 2026-06-04
    days on market $79,900 Active 322 DOM
12. 2026-06-02
    days on market $79,900 Active 321 DOM
13. 2026-06-01
    days on market $79,900 Active 320 DOM
14. 2026-05-31
    days on market $79,900 Active 319 DOM
15. 2026-02-26
    price $79,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

16. 2025-12-01
    price $84,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

17. 2025-10-21
    price $89,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

18. 2025-09-26
    price $99,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

19. 2025-09-02
    price $104,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

20. 2025-07-23
    price $109,900 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

21. 2025-07-16
    listed $120,000 Active 728-char remark

    Show marketing remark (728 chars)

    Embrace a one-of-a-kind opportunity to own and transform a piece of local history. This former church offers soaring ceilings and a vast, open-concept main hall waiting for your vision. Imagine creating a breathtaking artist's loft, a stunning event venue, or a unique live/work space. An attached 2-bedroom, 1-bath home provides a convenient place to live while you renovate or a source of rental income. The property requires a full exterior renovation, including a new roof on the main church structure, and is priced accordingly to reflect the significant investment required. This is not a project for the faint of heart; it's a legacy project for a buyer with vision and ambition. PROPERTY IS BEING SOLD "AS-IS".

ⓘ 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: $2,124 · $177/mo
• Projected year-2 tax: $2,124 · $177/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,544
• − Mortgage interest: −$4,476
• − Property taxes: −$2,124
• − Insurance: −$400
• − Repairs & maintenance: −$843
• − Management: −$843
• − Depreciation: −$2,324
• Taxable loss: −$467
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $890/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

Poor 20/100 Extensive rehab

This former church requires extensive exterior renovation, including a new roof and siding, to become move-in ready.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major roof — No visible roof condition

Value-add opportunities

• Both new exterior siding — Enhances curb appeal and value
• Both new roof — Critical for structural integrity and longevity

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
roof · No visible roof condition	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both new exterior siding — Enhances curb appeal and value ↑
• Both new roof — Critical for structural integrity and longevity ↑

ⓘ 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: Alexandria Central School District
• NCES district ID: 3602670
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 56% ▲ 8.00%
• Median HH income: $43,764
• Composite: 42.98/100
• National rank: #3109
• State rank: #378 of 590 in NY

Livability — Plessis

• Score: 63/100
• State rank: #815
• US rank: #15757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plessis, NY
• Population (ZIP): 2,945

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 (91%)
• Race & ethnicity: White 91% Black 5% Two or more races 3%
• Common ancestry: Iranian 11% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 85% English-only · German/W. Germanic 14%

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: ▲ 5.08%
• Current HPI: 369.2429
• 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

-33.4% since first listed

7 events — show timeline

• 2026-02-26 Price Changed $79,900 CNYIS
• 2025-12-01 Price Changed $84,900 CNYIS
• 2025-10-21 Price Changed $89,900 CNYIS
• 2025-09-26 Price Changed $99,900 CNYIS
• 2025-09-02 Price Changed $104,900 CNYIS
• 2025-07-23 Price Changed $109,900 CNYIS
• 2025-07-16 Listed $120,000 CNYIS

Property tax history

+28.8%/yr

Latest (2025): $2,124 · +0.7% YoY. Source: county tax records.