87 Canal · Fort Plain, NY 13339

$55,000

5 bd · 1.0 ba · 2,952 sqft · SingleFamily public records · 3 Days on market

Built 1855 8,276 sqft lot Est $53k · at est. ↓ 21% 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
• Appreciation +7.6/10.0
• ARV discount +5.9/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

IF OLD COLONIAL IS WHAT YOUR SEEKING, TIN CEILINGS, ACTUAL LIGHT FIXTURES, MARBLE FIREPLACES WITH NOOKS AND CRANNIES HOLDING HERITAGE FROM DAYS GONE BY.HARDWOOD FLOORS AND SLIDING DOORS~NEEDS WORK BUT WORTH THE EFFORT. NEW FURNACE AND HOT WATER HEATER -- Good Condition

Key facts

• Outbuildings
• Prime village lot
• Generous backyard

Tags

• PRIME VILLAGE LOT
• MULTIPLE ACCESS POINTS
• GENEROUS BACKYARD
• OUTBUILDINGS

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).

Location & tenants

• Location reads 72/100 on livability (#374 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: schools D, commute F, employment F.
• Fort Plain Central School District (rural): math 43% / reading 57% proficiency, ranked #401 of 590 in NY (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 45 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($380 loan paydown + $3k appreciation (5.2% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 18y 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 $20k; list at $55k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1855 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1855 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.19% ✓
• Cap rate: 19.55%
• Cash-on-cash: 47.36%
• DSCR: 3.11
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $53,136
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Mohawk St	0.15mi	4/1.5 (-1)	2,912 (-1%)	8mo	$52,000	$18	77
61 Mohawk St	0.12mi	5/1.5	2,736 (-7%)	8mo	$162,000	$59	74
98 Main St	0.13mi	5/1.5	3,299 (+12%)	16mo	$48,000	$15	59

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

Projected returns pro-forma

5.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.4%
• Equity multiple: 4.16×
• Total profit: $48,625
• Equity at exit: $31,964

10-year hold

• IRR: 49.0%
• Equity multiple: 8.55×
• Total profit: $116,310
• Equity at exit: $55,836

Cash invested: $15,400 (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 13339

• Home prices YoY: 1.7%
• Active inventory: 45
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,202 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$30 /mo · $364/yr
• Insurance: −$23
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $552

Break-even live

Break-even rent $503

Max offer price $55,000

Occupancy floor 49%

Sensitivity live

Price	-10% $583	-5% $568	+0% $552	+5% $537	+10% $521
Rent	-10% $457	-5% $505	+0% $552	+5% $600	+10% $647
Rate	-1.0pp $580	-0.5pp $566	base $552	+0.5pp $538	+1.0pp $523

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2025-11-24
   status Pending
2. 2025-11-20
   listed $55,000 Active
3. 2024-12-12
   soldstatus $20,000
4. 2012-04-27
   soldstatus $38,500
5. 2012-04-18
   soldstatus $38,500 269-char remark

   Show marketing remark (269 chars)

   IF OLD COLONIAL IS WHAT YOUR SEEKING, TIN CEILINGS, ACTUAL LIGHT FIXTURES, MARBLE FIREPLACES WITH NOOKS AND CRANNIES HOLDING HERITAGE FROM DAYS GONE BY.HARDWOOD FLOORS AND SLIDING DOORS~NEEDS WORK BUT WORTH THE EFFORT. NEW FURNACE AND HOT WATER HEATER -- Good Condition

6. 2012-03-01
   historical 269-char remark

   Show marketing remark (269 chars)

   IF OLD COLONIAL IS WHAT YOUR SEEKING, TIN CEILINGS, ACTUAL LIGHT FIXTURES, MARBLE FIREPLACES WITH NOOKS AND CRANNIES HOLDING HERITAGE FROM DAYS GONE BY.HARDWOOD FLOORS AND SLIDING DOORS~NEEDS WORK BUT WORTH THE EFFORT. NEW FURNACE AND HOT WATER HEATER -- Good Condition

7. 2011-10-10
   listed $40,500 269-char remark

   Show marketing remark (269 chars)

   IF OLD COLONIAL IS WHAT YOUR SEEKING, TIN CEILINGS, ACTUAL LIGHT FIXTURES, MARBLE FIREPLACES WITH NOOKS AND CRANNIES HOLDING HERITAGE FROM DAYS GONE BY.HARDWOOD FLOORS AND SLIDING DOORS~NEEDS WORK BUT WORTH THE EFFORT. NEW FURNACE AND HOT WATER HEATER -- Good Condition

8. 2011-10-06
   historical
9. 2010-12-01
   listed $48,500
10. 2010-10-07
    historical
11. 2009-10-06
    listed $49,900
12. 2009-03-02
    soldstatus $47,000
13. 2009-02-26
    soldstatus $47,000
14. 2009-01-26
    historical
15. 2008-05-20
    listed $69,900

ⓘ 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: $364 · $30/mo
• Projected year-2 tax: $647 · $54/mo
• Expected delta: +$283/yr (+$24/mo · 77.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 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: $14,422
• − Mortgage interest: −$3,081
• − Property taxes: −$364
• − Insurance: −$942
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$1,600
• Taxable income: $6,128
• Est. tax owed @ 24.0%: −$1,471
• After-tax cash flow: $5,156/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: Fort Plain Central School District
• NCES district ID: 3611370
• Math proficiency: 43% ▲ 4.00%
• Reading proficiency: 57% ▲ 18.00%
• Median HH income: $41,754
• Composite: 41.94/100
• National rank: #3352
• State rank: #401 of 590 in NY

Livability — Fort Plain

• Score: 72/100
• State rank: #374
• US rank: #6455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Plain, NY
• Population (ZIP): 6,131

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 10% Lithuanian 9% Romanian 5%
• Foreign-born: 1%
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.24%
• Current HPI: 320.8989
• 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

-21.3% since first listed

15 events — show timeline

• 2025-11-24 Pending — Global MLS
• 2025-11-20 Listed $55,000 Global MLS
• 2024-12-12 Sold (Public Records) $20,000 Public Records
• 2012-04-27 Sold (Public Records) $38,500 Public Records
• 2012-04-18 Sold (MLS) $38,500 Global MLS
• 2012-03-01 Listing Removed — Global MLS
• 2011-10-10 Listed $40,500 Global MLS
• 2011-10-06 Listing Removed — Global MLS
• 2010-12-01 Listed $48,500 Global MLS
• 2010-10-07 Listing Removed — Global MLS
• 2009-10-06 Listed $49,900 Global MLS
• 2009-03-02 Sold (Public Records) $47,000 Public Records
• 2009-02-26 Sold (MLS) $47,000 Global MLS
• 2009-01-26 Listing Removed — Global MLS
• 2008-05-20 Listed $69,900 Global MLS

Property tax history

-7.1%/yr

Latest (2025): $364 · -86.0% YoY. Source: county tax records.