9512 Church St · Castorland, NY 13620

$64,900

2 bd · 2.0 ba · 1,926 sqft · MultiFamily public records · 21 Days on market

Built 1900 0.63 ac lot ↓ 6% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• 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 MLS

2 Family home located at end of quiet st in Village of Castorland. Good rental history. Use as investment or live in one portion and rent the other for good additional income. Call to see today!

Key facts

• 0.63 acre lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Owner/rent payment responsibilities: see remarks
• Financial info: Multi-unit property with 2 total units and 2 separate electric meters; Operating expense details: see remarks

Exterior

• Parking: Paved parking with two or more spaces; Attached or detached garage: 1-car garage
• Utilities: Public water connected; Sewer connected; Circuit breaker electrical service
• Home design: Two-story building; Existing property
• Construction: Vinyl siding exterior; Metal roof; Stone foundation; Built (existing structure)
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 151 x 181

Interior

• Kitchen: Eat-in kitchens in both units; Oven/Range; Refrigerator
• Bedrooms: Upper unit: 3 bedrooms; Lower unit: 1 bedroom
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: Three full bathrooms total (Unit 1 has 2 full baths; Unit 2 has 1 full bath)
• Heating & cooling: Forced air heating; Oil-fired heating
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer and dryer in Unit 1 (laundry in unit)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $931 ($11k/yr) — positive. Per door: $465/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#882 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-; Watch: employment C-, health & safety D, crime F.
• Lowville Academy & Central School District (town): math 51% / reading 54% proficiency, ranked #345 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 110 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($449 loan paydown + $735 appreciation (1.1% local appreciation)).
• Lewis County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $55k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,926 (1.5% below list)

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 1900 — 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: 2.91% ✓
• Cap rate: 23.50%
• Cash-on-cash: 61.46%
• DSCR: 3.73
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $134,820
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9573 Church St	0.11mi	3/2.0 (+1)	1,819 (-6%)	19mo	$128,000	$70	64

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

Projected returns pro-forma

1.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.5%
• Equity multiple: 4.36×
• Total profit: $61,007
• Equity at exit: $22,604

10-year hold

• IRR: 65.6%
• Equity multiple: 8.84×
• Total profit: $142,555
• Equity at exit: $30,388

Cash invested: $18,172 (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 13620

• Home prices YoY: 0.4%
• Active inventory: 10
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,889 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$194 /mo · $2,331/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $931

Break-even live

Break-even rent $711

Max offer price $64,900

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$1,890
Total (2 units)			$1,889

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $64,900 Active 21 DOM
2. 2026-06-18
   days on market $64,900 Active 20 DOM
3. 2026-06-17
   days on market $64,900 Active 19 DOM
4. 2026-06-16
   days on market $64,900 Active 18 DOM
5. 2026-06-15
   days on market $64,900 Active 17 DOM
6. 2026-06-14
   days on market $64,900 Active 15 DOM
7. 2026-06-12
   days on market $64,900 Active 14 DOM
8. 2026-06-09
   days on market $64,900 Active 11 DOM
9. 2026-06-08
   days on market $64,900 Active 10 DOM
10. 2026-06-07
    days on market $64,900 Active 9 DOM
11. 2026-06-05
    days on market $64,900 Active 6 DOM
12. 2026-06-03
    days on market $64,900 Active 5 DOM
13. 2026-06-03
    price $64,900 Active 4 DOM
14. 2026-06-02
    days on market $75,000 Active 4 DOM
15. 2026-06-01
    days on market $75,000 Active 3 DOM
16. 2026-05-31
    days on market $75,000 Active 2 DOM
17. 2026-04-24
    price $74,900
18. 2026-04-15
    price $75,000
19. 2026-02-10
    price $79,900
20. 2025-11-18
    price $89,900
21. 2025-09-19
    price $99,900
22. 2025-08-02
    listed $119,900 Active
23. 2019-05-07
    soldstatus $73,000
24. 2019-05-03
    soldstatus $73,000 194-char remark

    Show marketing remark (194 chars)

    2 Family home located at end of quiet st in Village of Castorland. Good rental history. Use as investment or live in one portion and rent the other for good additional income. Call to see today!

25. 2018-06-12
    listed $84,900 194-char remark

    Show marketing remark (194 chars)

    2 Family home located at end of quiet st in Village of Castorland. Good rental history. Use as investment or live in one portion and rent the other for good additional income. Call to see today!

26. 2013-01-14
    soldstatus $67,000
27. 2012-12-18
    listed $79,900

ⓘ 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: $2,331 · $194/mo
• Projected year-2 tax: $2,331 · $194/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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,668
• − Mortgage interest: −$3,635
• − Property taxes: −$2,331
• − Insurance: −$324
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$1,888
• Taxable income: $10,862
• Est. tax owed @ 24.0%: −$2,607
• After-tax cash flow: $8,561/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: Lowville Academy & Central School District
• NCES district ID: 3617820
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $47,554
• Composite: 44.62/100
• National rank: #2773
• State rank: #345 of 590 in NY

Livability — Castorland

• Score: 62/100
• State rank: #882
• US rank: #17163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Castorland, NY
• Population (ZIP): 2,150

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 26,126 people
• By 2030: 25,354 · -3.0%
• By 2040: 23,359 · -10.6%
• By 2050: 20,927 · -19.9%
• By 2075: 15,533 · -40.5%
• By 2100: 10,215 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 9% Romanian 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+44.4) · D 27.8% · R 72.2%
• 2008→2024 swing: -35.6pp toward R · 2008: -8.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+39.2 2016: R+39.6 2012: R+8.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.13%
• Current HPI: 298.2254
• 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

-6.3% since first listed

11 events — show timeline

• 2026-04-24 Price Changed $74,900 CNYIS
• 2026-04-15 Price Changed $75,000 CNYIS
• 2026-02-10 Price Changed $79,900 CNYIS
• 2025-11-18 Price Changed $89,900 CNYIS
• 2025-09-19 Price Changed $99,900 CNYIS
• 2025-08-02 Listed $119,900 CNYIS
• 2019-05-07 Sold (Public Records) $73,000 Public Records
• 2019-05-03 Sold (MLS) $73,000 CNYIS
• 2018-06-12 Listed $84,900 CNYIS
• 2013-01-14 Sold (MLS) $67,000 CNYIS
• 2012-12-18 Listed $79,900 CNYIS

Property tax history

+0.4%/yr

Latest (2025): $2,331 · +1.7% YoY. Source: county tax records.