1684 Us-9 · Schroon Lake, NY 12870

$195,000

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 10 Days on market

Built 1935 2.70 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).

• Appreciation +9.1/10.0
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.3/10.0

Listing remarks

1930's 2 story home on 2.7 mostly cleared & level acres approximately 3 miles from Schroon Lake Village. Needs TLC. 3 bedrooms, bath, living room, dining area, 2nd floor bonus room, porch. Basement with workshop and had 1 car garage. Acreage is ideal for huge garden or other ideas!

Key facts

• Level acres
• 2.7 acres
• 2 story home

Tags

• 2 STORY HOME
• 2.7 ACRES
• CLEARED LAND
• LEVEL ACRES
• BONUS ROOM
• WORKSHOP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (27.2% below list).
• Recommended offer: $142k (27.2% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 0.7% in Schroon Lake — 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 71/100 on livability (#406 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-, schools B; Watch: amenities C-, crime F, commute F.
• Schroon Lake Central School District (rural): math 45% / reading 55% proficiency, ranked #473 of 755 in NY (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 34 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (8.3% local appreciation)).
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.
• Current owner paid $128k; list at $195k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,864 (27.2% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.73% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 2.34×
• Total profit: $73,007
• Equity at exit: $152,033

10-year hold

• IRR: 16.8%
• Equity multiple: 5.03×
• Total profit: $220,146
• Equity at exit: $305,567

Cash invested: $54,600 (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 12870

• Home prices YoY: 2.3%
• Active inventory: 34
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$189 /mo · $2,268/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-172

Break-even live

Break-even rent $1,637

Max offer price $164,593

Occupancy floor —

Sensitivity live

Price	-10% $-62	-5% $-117	+0% $-172	+5% $-227	+10% $-283
Rent	-10% $-284	-5% $-228	+0% $-172	+5% $-116	+10% $-60
Rate	-1.0pp $-74	-0.5pp $-123	base $-172	+0.5pp $-223	+1.0pp $-274

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-24
   status Pending
2. 2026-03-14
   listed $195,000 Active
3. 2023-06-25
   historical
4. 2023-04-03
   price $172,000
5. 2022-07-31
   listed $185,000 Active
6. 2009-01-07
   soldstatus $128,000

ⓘ 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: $2,268 · $189/mo
• Projected year-2 tax: $2,782 · $232/mo
• Expected delta: +$514/yr (+$43/mo · 22.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,024
• − Mortgage interest: −$10,923
• − Property taxes: −$2,268
• − Insurance: −$975
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$5,673
• Taxable loss: −$5,539
• Est. tax savings @ 24.0%: +$1,329
• After-tax cash flow: $-736/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: Schroon Lake Central School District
• NCES district ID: 3626130
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $44,428
• Composite: 44.25/100
• National rank: #6181
• State rank: #473 of 755 in NY

Livability — Schroon Lake

• Score: 71/100
• State rank: #406
• US rank: #6982

Category grades

Amenities C- 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

• City population: 1,770
• Population (ZIP): 1,770

Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Iranian 10% Romanian 9% Italian 9%
• Foreign-born: 3% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.29%
• Current HPI: 372.7077
• 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

+52.3% since first listed

6 events — show timeline

• 2026-03-24 Pending — Global MLS
• 2026-03-14 Listed $195,000 Global MLS
• 2023-06-25 Listing Removed — Global MLS
• 2023-04-03 Price Changed $172,000 Global MLS
• 2022-07-31 Listed $185,000 Global MLS
• 2009-01-07 Sold (Public Records) $128,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,268 · +4.5% YoY. Source: county tax records.