423 Renssealer St · Rensselaer Falls, NY 13680

$65,000

3 bd · 1.0 ba · 2,295 sqft · SingleFamily · 362 Days on market

Built 1900 Fair condition 0.30 ac lot $28/sqft · 64% below area ↓ 13% 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 +6.9/10.0
• Schools +4.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Situated in the heart of Rensselaer Falls, this large 3 bedroom home sits on a corner lot. The first floor is comprised of a front sitting room (that was once a front porch) a spacious eat in kitchen with laundry hook-ups, a formal dining room, double living room and a fully renovated full bathroom. This space includes a new vanity, toilet, tiled shower, flooring and all new fixtures. Upstairs, you will find three nice sized bedrooms and an attic for additional storage. The basement can be accessed through the attached one car garage and there is also a storage building included. The yard is also spacious perfect for outdoor enjoyment or entertaining. Located in close proximity to the fire station, general store, a nature center and only a few short miles to Canton or Ogdensburg this property has a lot to offer and is priced to sell! Schedule your private tour today.

Key facts

• 0.3 acre lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#999 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Canton Central School District (rural): math 49% / reading 59% proficiency, ranked #321 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($449 loan paydown + $2k appreciation (3.7% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% 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 362 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 362 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.96% ✓
• Cap rate: 16.61%
• Cash-on-cash: 36.84%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

• ARV (median comp): $181,637
• List price: $65,000
• Delta: -64.21%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

3.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 3.52×
• Total profit: $45,941
• Equity at exit: $31,892

10-year hold

• IRR: 42.7%
• Equity multiple: 7.08×
• Total profit: $110,703
• Equity at exit: $51,331

Cash invested: $18,200 (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 13680

• Home prices YoY: 1.4%
• Active inventory: 6
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $559

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 51%

Sensitivity live

Price	-10% $604	-5% $581	+0% $559	+5% $536	+10% $514
Rent	-10% $458	-5% $508	+0% $559	+5% $609	+10% $660
Rate	-1.0pp $591	-0.5pp $575	base $559	+0.5pp $542	+1.0pp $525

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $65,000 Active 362 DOM
2. 2026-06-21
   days on market $65,000 Active 361 DOM
3. 2026-06-18
   days on market $65,000 Active 359 DOM
4. 2026-06-17
   days on market $65,000 Active 358 DOM
5. 2026-06-16
   days on market $65,000 Active 357 DOM
6. 2026-06-15
   days on market $65,000 Active 356 DOM
7. 2026-06-13
   days on market $65,000 Active 354 DOM
8. 2026-06-12
   days on market $65,000 Active 353 DOM
9. 2026-06-09
   days on market $65,000 Active 350 DOM
10. 2026-06-08
    days on market $65,000 Active 349 DOM
11. 2026-06-07
    days on market $65,000 Active 348 DOM
12. 2026-06-07
    days on market $65,000 Active 347 DOM
13. 2026-06-04
    days on market $65,000 Active 344 DOM
14. 2026-06-02
    days on market $65,000 Active 343 DOM
15. 2026-06-01
    days on market $65,000 Active 342 DOM
16. 2026-05-31
    days on market $65,000 Active 341 DOM
17. 2025-07-28
    price $65,000 879-char remark

    Show marketing remark (879 chars)

    Situated in the heart of Rensselaer Falls, this large 3 bedroom home sits on a corner lot. The first floor is comprised of a front sitting room (that was once a front porch) a spacious eat in kitchen with laundry hook-ups, a formal dining room, double living room and a fully renovated full bathroom. This space includes a new vanity, toilet, tiled shower, flooring and all new fixtures. Upstairs, you will find three nice sized bedrooms and an attic for additional storage. The basement can be accessed through the attached one car garage and there is also a storage building included. The yard is also spacious perfect for outdoor enjoyment or entertaining. Located in close proximity to the fire station, general store, a nature center and only a few short miles to Canton or Ogdensburg this property has a lot to offer and is priced to sell! Schedule your private tour today.

18. 2025-06-24
    listed $75,000 Active 879-char remark

    Show marketing remark (879 chars)

    Situated in the heart of Rensselaer Falls, this large 3 bedroom home sits on a corner lot. The first floor is comprised of a front sitting room (that was once a front porch) a spacious eat in kitchen with laundry hook-ups, a formal dining room, double living room and a fully renovated full bathroom. This space includes a new vanity, toilet, tiled shower, flooring and all new fixtures. Upstairs, you will find three nice sized bedrooms and an attic for additional storage. The basement can be accessed through the attached one car garage and there is also a storage building included. The yard is also spacious perfect for outdoor enjoyment or entertaining. Located in close proximity to the fire station, general store, a nature center and only a few short miles to Canton or Ogdensburg this property has a lot to offer and is priced to sell! Schedule your private tour today.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,311
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$1,891
• Taxable income: $6,029
• Est. tax owed @ 24.0%: −$1,447
• After-tax cash flow: $5,258/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathrooms, and minor repairs to the exterior siding. The property has a good roof and foundation, and the interior walls could use a fresh coat of paint. Upgrading the kitchen flooring and bathroom fixtures would significantly increase its resale and rental value.

Repairs flagged

• Major kitchen flooring — patterned linoleum in poor condition
• Moderate bathroom fixtures — dated fixtures in need of replacement
• Minor exterior siding — some discoloration

Value-add opportunities

• Resale update kitchen flooring — new flooring will enhance curb appeal and interior aesthetics
• Resale replace bathroom fixtures — new fixtures will improve functionality and appearance
• Both paint interior walls — fresh paint will improve the home's appearance and value
• Resale repair exterior siding — new siding will improve the home's curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen flooring · patterned linoleum in poor condition	Major	$15,000–50,000
bathroom fixtures · dated fixtures in need of replacement	Moderate	$3,000–15,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Resale update kitchen flooring — new flooring will enhance curb appeal and interior aesthetics ↑
• Resale replace bathroom fixtures — new fixtures will improve functionality and appearance ↑
• Both paint interior walls — fresh paint will improve the home's appearance and value ↑
• Resale repair exterior siding — new siding will improve the home's curb appeal and value ↑

ⓘ 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: Canton Central School District
• NCES district ID: 3606470
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 59% ▲ 10.00%
• Median HH income: $52,157
• Composite: 46.27/100
• National rank: #2481
• State rank: #321 of 590 in NY

Livability — Rensselaer Falls

• Score: 60/100
• State rank: #999
• US rank: #19487

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: Rensselaer Falls, NY
• Population (ZIP): 1,417

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Polish 19% Lithuanian 10% Slovak 2%
• Foreign-born: 0%
• Languages at home: 73% English-only · German/W. Germanic 26%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.72%
• Current HPI: 274.0066
• 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

-13.3% since first listed

2 events — show timeline

• 2025-07-28 Price Changed $65,000 SLCMLS
• 2025-06-24 Listed $75,000 SLCMLS