12 Raymond St · Malone, NY 12953

$98,000

None bd · None ba · 2,322 sqft · MultiFamily · 91 Days on market

Built 1920 Fair condition 6,098 sqft lot $42/sqft · 60% below area

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex property featuring a spacious one car carriage house/garage with additional storage space above. Ideal location for starting a new business or rental opportunities.

Key facts

• Ideal location
• Carriage house
• 6,098 sq ft lot

Tags

• CARRIAGE HOUSE
• ADDITIONAL STORAGE SPACE
• IDEAL LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $98k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $98k).
• Recommended offer: $89k (9.0% below list) — sets the bar for market timing.
• Cap rate 23.5% vs local median 5.3% in Malone — 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 70/100 on livability (#437 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime D-.
• Malone Central School District (town): math 27% / reading 29% proficiency, ranked #581 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 113 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($678 loan paydown + $10k appreciation (10.0% local appreciation)).
• Franklin County population projected at -14% 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,180 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 2.69% ✓
• Cap rate: 23.49%
• Cash-on-cash: 61.42%
• DSCR: 3.73
• GRM: 3.1

CMA / ARV

• ARV (median comp): $243,551
• List price: $98,000
• Delta: -59.76%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Willow St. St	0.23mi	—/—	2,399 (+3%)	12mo	$155,000	$65	73
7 Beman St	0.07mi	—/—	2,208 (-5%)	18mo	$30,000	$14	73
15 Frederick Street St	0.59mi	—/—	2,045 (-12%)	11mo	$157,016	$77	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 73.4%
• Equity multiple: 6.21×
• Total profit: $142,860
• Equity at exit: $88,286

10-year hold

• IRR: 67.3%
• Equity multiple: 13.77×
• Total profit: $350,437
• Equity at exit: $190,392

Cash invested: $27,440 (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 12953

• Home prices YoY: 7.2%
• Active inventory: 113
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,635 medium
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $1,404

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,634
Total (3 units)			$2,635

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $98,000 Active 91 DOM
2. 2026-06-17
   days on market $98,000 Active 90 DOM
3. 2026-06-16
   days on market $98,000 Active 89 DOM
4. 2026-06-15
   days on market $98,000 Active 88 DOM
5. 2026-06-13
   days on market $98,000 Active 86 DOM
6. 2026-06-12
   days on market $98,000 Active 85 DOM
7. 2026-06-09
   days on market $98,000 Active 82 DOM
8. 2026-06-08
   days on market $98,000 Active 81 DOM
9. 2026-06-07
   days on market $98,000 Active 80 DOM
10. 2026-06-07
    days on market $98,000 Active 79 DOM
11. 2026-06-04
    days on market $98,000 Active 76 DOM
12. 2026-06-02
    days on market $98,000 Active 75 DOM
13. 2026-06-01
    days on market $98,000 Active 74 DOM
14. 2026-05-31
    days on market $98,000 Active 73 DOM
15. 2026-03-19
    listed $98,000 Active 172-char remark

    Show marketing remark (172 chars)

    Triplex property featuring a spacious one car carriage house/garage with additional storage space above. Ideal location for starting a new business or rental opportunities.

16. 2025-06-11
    price $89,900

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

Taxation est. · year 1

• Rental income: $31,620
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$2,530
• − Management: −$2,530
• − Depreciation: −$2,851
• Taxable income: $16,260
• Est. tax owed @ 24.0%: −$3,902
• After-tax cash flow: $12,950/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 · 2 photos

Fair 45/100 Moderate rehab

This triplex property requires moderate renovations, including exterior repairs and landscaping, to improve its condition and value.

Repairs flagged

• Major Exterior siding — Signs of peeling paint and weathering
• Major Roof — Missing shingles
• Major Landscaping — Overgrown and unkempt

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and property value
• Both Replace missing roof shingles — Prevents further damage and improves property value
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Signs of peeling paint and weathering	Major	$15,000–50,000
Roof · Missing shingles	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and property value ↑
• Both Replace missing roof shingles — Prevents further damage and improves property value ↑
• Both Landscaping — Improves curb appeal and enhances property 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: Malone Central School District
• NCES district ID: 3618180
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $46,681
• Composite: 24.23/100
• National rank: #7725
• State rank: #581 of 590 in NY

Livability — Malone

• Score: 70/100
• State rank: #437
• US rank: #7656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malone, NY
• Population (ZIP): 12,842

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 48,098 people
• By 2030: 46,790 · -2.7%
• By 2040: 44,400 · -7.7%
• By 2050: 41,256 · -14.2%
• By 2075: 32,190 · -33.1%
• By 2100: 23,407 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 16% Slovak 5% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+9.0) · D 45.5% · R 54.5%
• 2008→2024 swing: -31.2pp toward R · 2008: 22.2pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+2.2 2016: R+7.4 2012: D+26.3 2008: D+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.73%
• Current HPI: 263.2406
• 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

+9.0% since first listed

2 events — show timeline

• 2026-03-19 Listed $98,000 ACVMLS
• 2025-06-11 Price Changed $89,900 ACVMLS