39 East St · Argyle, NY 12809

$134,000

3 bd · 2.0 ba · 2,580 sqft · MultiFamily public records · 85 Days on market

Built 1890 10,018 sqft lot ↓ 21% since listing

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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: 1 unit. estimate disagrees with records

Listing remarks

Spacious old-style village home with classic character, currently set up as an up/down duplex. This property is ready for renovation and packed with potential--perfect for those with vision. Features include a two-car garage and additional office space, offering endless possibilities for income, multi-generational living, or a stunning single-family conversion. Call for detail or an appointment! So much potential. Cash or rehab loan only. Sold in as is condition. 3 electric services all 150 amp, up, down & garage separate. Hot air fuel oil furnace services both levels, unknown condition. Garage has own separate hot air/fuel oil system, also condition unknown. All utilities are current

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1890

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Parking: 2-car garage; 4 total parking spaces; Paved parking
• Utilities: Public water; Septic tank; Cable available
• Home design: Duplex; 2,580 finished living area; Main road frontage approximately 68 feet
• Construction: Wood siding; Stone foundation; Slate and rubber roofing; Built with traditional construction materials
• Exterior features: Rear porch; Workshop; Garage(s); Level lot

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Flooring: Wood flooring; Carpet; Linoleum
• Bathrooms: 2 full bathrooms total (one on first level, one on second level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating; Oil heating
• Interior features: Chair rail; Crown molding; ENERGY STAR qualified doors
• Laundry & utility: Washer hookup; Electric dryer hookup; Full basement with interior entry and sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $134k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $134k).
• Recommended offer: $126k (6.0% 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.
• Zoned schools: Argyle Junior/Senior High School (math 47% / reading 62%, grade C-, #912 of 1,100 statewide, top 85%, 229 students, 48% FRL) — zoned schools average 48% FRL vs 26% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $14k of equity ($926 loan paydown + $13k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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.
8. 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.
9. 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: 1.88% ✓
• Cap rate: 14.74%
• Cash-on-cash: 30.17%
• DSCR: 2.34
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.2%
• Equity multiple: 4.55×
• Total profit: $133,166
• Equity at exit: $120,718

10-year hold

• IRR: 41.1%
• Equity multiple: 10.20×
• Total profit: $345,139
• Equity at exit: $260,333

Cash invested: $37,520 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,523 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$291 /mo · $3,497/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $943

Break-even live

Break-even rent $1,329

Max offer price $134,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,019	-5% $981	+0% $943	+5% $905	+10% $867
Rent	-10% $744	-5% $844	+0% $943	+5% $1,043	+10% $1,143
Rate	-1.0pp $1,011	-0.5pp $977	base $943	+0.5pp $908	+1.0pp $873

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,524
Total (2 units)			$2,523

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending
2. 2026-03-21
   historical Contingent
3. 2026-03-10
   price $134,000
4. 2026-02-08
   listed $139,000 Active
5. 2026-01-17
   historical
6. 2025-11-12
   price $145,000
7. 2025-09-10
   price $160,000
8. 2025-07-16
   listed $169,900 Active

ⓘ 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: $3,497 · $291/mo
• Projected year-2 tax: $3,497 · $291/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 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: $30,276
• − Mortgage interest: −$7,506
• − Property taxes: −$3,497
• − Insurance: −$670
• − Repairs & maintenance: −$2,422
• − Management: −$2,422
• − Depreciation: −$3,898
• Taxable income: $9,860
• Est. tax owed @ 24.0%: −$2,366
• After-tax cash flow: $8,952/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

• Census place: Argyle, NY
• 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

-21.1% since first listed

8 events — show timeline

• 2026-05-05 Pending — Global MLS
• 2026-03-21 Contingent — Global MLS
• 2026-03-10 Price Changed $134,000 Global MLS
• 2026-02-08 Listed $139,000 Global MLS
• 2026-01-17 Listing Removed — Global MLS
• 2025-11-12 Price Changed $145,000 Global MLS
• 2025-09-10 Price Changed $160,000 Global MLS
• 2025-07-16 Listed $169,900 Global MLS

Property tax history

+1.4%/yr

Latest (2025): $3,497 · +6.6% YoY. Source: county tax records.