103 Sunset Cir · Wells, NY 12190

$25,000

1 bd · 1.0 ba · 500 sqft · Manufactured public records · 20 Days on market

Built 1960 0.43 ac lot

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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
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits as this very affordable Wells corner lot property located in the Adirondack lake community hits the market! This property has a 1 bedroom trailer on it. It could be taken away and someone could build their dream home if they choose. Many possibilities here! Located less than a mile from Wells public beach on Lake Algonquin!

Key facts

• Lake algonquin
• Wells corner lot
• Public beach

Tags

• WELLS CORNER LOT
• ADIRONDACK LAKE COMMUNITY
• PUBLIC BEACH
• LAKE ALGONQUIN

Property features AI

Finance

• Financial info: Annual tax approximately $800

Exterior

• Parking: Driveway parking for 2 vehicles
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; Fixer condition; 500 living area
• Construction: Other construction materials
• Exterior features: Garden; Level, landscaped lot (approximately 0.43 acres)

Interior

• Kitchen: Range
• Bedrooms: Bedroom on the first level
• Bathrooms: 1 full bathroom on the first level
• Heating & cooling: Forced air heating
• Interior features: 4 total rooms; Range in kitchen

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($805 rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#921 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: health & safety C-, crime F, amenities F.
• Wells Central School District (rural): math 55% / reading 55% proficiency, ranked #369 of 755 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 55 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($173 loan paydown + $2k appreciation (8.3% local appreciation)).
• Hamilton County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $25k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.22% ✓
• Cap rate: 27.13%
• Cash-on-cash: 74.41%
• DSCR: 4.31
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $74,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
166 Little Amsterdam Rd	0.20mi	2/1.0 (+1)	500 (0%)	21mo	$74,000	$148	68

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

Projected returns pro-forma

8.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.5%
• Equity multiple: 6.50×
• Total profit: $38,481
• Equity at exit: $19,531

10-year hold

• IRR: 79.2%
• Equity multiple: 14.03×
• Total profit: $91,199
• Equity at exit: $39,295

Cash invested: $7,000 (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 12190

• Home prices YoY: 2.5%
• Active inventory: 10
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $805 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $434

Break-even live

Break-even rent $256

Max offer price $25,000

Occupancy floor 41%

Sensitivity live

Price	-10% $448	-5% $441	+0% $434	+5% $427	+10% $420
Rent	-10% $370	-5% $402	+0% $434	+5% $466	+10% $498
Rate	-1.0pp $447	-0.5pp $440	base $434	+0.5pp $428	+1.0pp $421

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   price $25,000 Active 20 DOM
2. 2026-06-18
   days on market $30,000 Active 20 DOM
3. 2026-06-17
   days on market $30,000 Active 19 DOM
4. 2026-06-16
   days on market $30,000 Active 18 DOM
5. 2026-06-15
   days on market $30,000 Active 17 DOM
6. 2026-06-13
   days on market $30,000 Active 15 DOM
7. 2026-06-12
   days on market $30,000 Active 14 DOM
8. 2026-06-09
   days on market $30,000 Active 11 DOM
9. 2026-06-08
   days on market $30,000 Active 10 DOM
10. 2026-06-07
    days on market $30,000 Active 9 DOM
11. 2026-06-07
    days on market $30,000 Active 8 DOM
12. 2026-06-04
    days on market $30,000 Active 5 DOM
13. 2026-06-02
    days on market $30,000 Active 4 DOM
14. 2026-06-01
    days on market $30,000 Active 3 DOM
15. 2026-05-31
    days on market $30,000 Active 2 DOM
16. 2026-05-29
    listed $30,000 Active
17. 2003-04-02
    soldstatus $16,000

ⓘ 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: $725 · $60/mo
• Projected year-2 tax: $725 · $60/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 5/10 Major FEMA zone X · 48% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $9,660
• − Mortgage interest: −$1,400
• − Property taxes: −$725
• − Insurance: −$125
• − Repairs & maintenance: −$773
• − Management: −$773
• − Depreciation: −$727
• Taxable income: $5,137
• Est. tax owed @ 24.0%: −$1,233
• After-tax cash flow: $3,976/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: Wells Central School District
• NCES district ID: 3630450
• Math proficiency: 55% ▲ 10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $47,506
• Composite: 48.51/100
• National rank: #4624
• State rank: #369 of 755 in NY

Livability — Wells

• Score: 61/100
• State rank: #921
• US rank: #17996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wells, NY
• Population (ZIP): 683

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 4,374 people
• By 2030: 4,157 · -5.0%
• By 2040: 3,641 · -16.8%
• By 2050: 3,238 · -26.0%
• By 2075: 2,644 · -39.6%
• By 2100: 2,017 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 8% Romanian 4% Portuguese 4%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Hamilton

• 2024 margin: Strong R (+29.5) · D 35.3% · R 64.7%
• 2008→2024 swing: -2.6pp toward R · 2008: -26.9pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+30.3 2016: R+38.8 2012: R+26.2 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.32%
• Current HPI: 339.0154
• 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

+87.5% since first listed

2 events — show timeline

• 2026-05-29 Listed $30,000 Global MLS
• 2003-04-02 Sold (Public Records) $16,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $725 · +4.3% YoY. Source: county tax records.