5009 State Route 40 · Argyle, NY 12809

$145,000

4 bd · 2.0 ba · 2,804 sqft · MultiFamily public records · 163 Days on market

Built 1900 0.39 ac lot $52/sqft · 57% below area

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.0/5.0
• 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

PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

Key facts

• Heart of argyle
• Charming duplex
• Comfortable layouts

Tags

• CHARMING DUPLEX
• HEART OF ARGYLE
• COMFORTABLE LAYOUTS
• PEACEFUL COUNTY SURROUNDINGS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,010 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, crime F.
• Argyle Central School District (rural): math 54% / reading 48% proficiency, ranked #426 of 755 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 25 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 $16k of equity ($1k loan paydown + $14k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $145k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.70% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.65%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

• ARV (median comp): $336,597
• List price: $145,000
• Delta: -56.92%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 4.26×
• Total profit: $132,200
• Equity at exit: $130,627

10-year hold

• IRR: 37.1%
• Equity multiple: 9.56×
• Total profit: $347,733
• Equity at exit: $281,703

Cash invested: $40,600 (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 12809

• Home prices YoY: 20.2%
• Active inventory: 25
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,460 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$288 /mo · $3,462/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $834

Break-even live

Break-even rent $1,404

Max offer price $145,000

Occupancy floor 61%

Sensitivity live

Price	-10% $916	-5% $875	+0% $834	+5% $793	+10% $752
Rent	-10% $640	-5% $737	+0% $834	+5% $931	+10% $1,028
Rate	-1.0pp $907	-0.5pp $871	base $834	+0.5pp $797	+1.0pp $758

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,460
Total (2 units)			$2,460

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $145,000 Active 163 DOM
2. 2026-06-17
   days on market $145,000 Active 162 DOM
3. 2026-06-16
   days on market $145,000 Active 161 DOM
4. 2026-06-15
   days on market $145,000 Active 160 DOM
5. 2026-06-14
   days on market $145,000 Active 158 DOM
6. 2026-06-10
   days on market $145,000 Active 155 DOM
7. 2026-06-09
   days on market $145,000 Active 154 DOM
8. 2026-06-08
   days on market $145,000 Active 153 DOM
9. 2026-06-07
   days on market $145,000 Active 152 DOM
10. 2026-06-05
    days on market $145,000 Active 149 DOM
11. 2026-06-03
    days on market $145,000 Active 148 DOM
12. 2026-06-02
    days on market $145,000 Active 147 DOM
13. 2026-06-01
    days on market $145,000 Active 146 DOM
14. 2026-05-31
    days on market $145,000 Active 145 DOM
15. 2026-05-31
    days on market $145,000 Active 144 DOM
16. 2026-04-22
    status Active 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

17. 2026-04-22
    price $145,000 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

18. 2026-03-26
    status Pending 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

19. 2026-01-27
    status Active 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

20. 2026-01-12
    status Pending 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

21. 2025-12-11
    price $155,000 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

22. 2025-12-11
    status Active 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

23. 2025-11-29
    status Pending 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

24. 2025-11-14
    listed $165,000 Active 567-char remark

    Show marketing remark (567 chars)

    PROPERTY IS BEING SOLD AS IS-GARAGE AND SHED INCLUDED WITH THE SALE! DOUBLE THE DOORS, DOUBLE THE OPPORTUNITY! DISCOVER THIS CHARMING DUPLEX NESTLED IN THE HEART OF ARGYLE, NY. EACH SIDE FEATURES 2 BEDROOMS AND 1 FULL BATH, OFFERING COMFORTABLE LAYOUTS PERFECT FOR TENANTS OR MULTIGENERATIONAL LIVING. WHETHER YOU'RE LOOKING TO EXPAND YOUR INVESTMENT PORTFOLIO OR LIVE IN ONE UNIT WHILE RENT THE OTHER, THIS PROPERTY DELIVERS FLEXIBILITY AND VALUE. ENJOY PEACEFUL COUNTY SURROUNDINGS WHILE STILL BEING JUST A SHORT DRIVE TO LOCAL CONVENIENCES AND NEIGHBORING TOWNS.

25. 1999-08-27
    soldstatus $47,500 212-char remark

    Show marketing remark (212 chars)

    Great investment buy .Walking distance to school, library, bank & IGA from this 2 family home. Presently rented upstairs-downstairs was owner occupied. Vacant. Could be $400+ per month down and more upstairs.

26. 1999-03-16
    listed $51,000 212-char remark

    Show marketing remark (212 chars)

    Great investment buy .Walking distance to school, library, bank & IGA from this 2 family home. Presently rented upstairs-downstairs was owner occupied. Vacant. Could be $400+ per month down and more upstairs.

ⓘ 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: $3,462 · $288/mo
• Projected year-2 tax: $3,462 · $288/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 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,520
• − Mortgage interest: −$8,122
• − Property taxes: −$3,462
• − Insurance: −$725
• − Repairs & maintenance: −$2,362
• − Management: −$2,362
• − Depreciation: −$4,218
• Taxable income: $8,270
• Est. tax owed @ 24.0%: −$1,985
• After-tax cash flow: $8,025/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: Argyle Central School District
• NCES district ID: 3603210
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $55,893
• Composite: 46.17/100
• National rank: #5453
• State rank: #426 of 755 in NY

Livability — Argyle

• Score: 59/100
• State rank: #1010
• US rank: #19685

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,639

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Serbian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 63.17%
• Current HPI: 376.0979
• 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

+184.3% since first listed

11 events — show timeline

• 2026-04-22 Relisted — Global MLS
• 2026-04-22 Price Changed $145,000 Global MLS
• 2026-03-26 Pending — Global MLS
• 2026-01-27 Relisted — Global MLS
• 2026-01-12 Pending — Global MLS
• 2025-12-11 Price Changed $155,000 Global MLS
• 2025-12-11 Relisted — Global MLS
• 2025-11-29 Pending — Global MLS
• 2025-11-14 Listed $165,000 Global MLS
• 1999-08-27 Sold (MLS) $47,500 Global MLS
• 1999-03-16 Listed $51,000 Global MLS

Property tax history

+4.7%/yr

Latest (2025): $3,462 · +22.1% YoY. Source: county tax records.