93 Catherine St · Malone, NY 12953

$75,000

3 bd · 2.0 ba · 1,449 sqft · MultiFamily public records · 210 Days on market

Built 1880 $52/sqft · 29% below area Est $105k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

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

Listing remarks MLS

Duplex with both units rented at $850 each—an excellent investment offering solid rental income. The neighboring triplex is also available, making this a great opportunity to purchase as a pair. All units in the triplex are currently rented: first and second floors at $850 each, and the third floor at $750. Property includes a large parking lot next door.

Key facts

• Built 1880
• Listed 210 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive. Per door: $339/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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 $8k of equity ($519 loan paydown + $8k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 210 days — a 12% lower offer ($66k) 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 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.13% ✓
• Cap rate: 17.13%
• Cash-on-cash: 38.69%
• DSCR: 2.72
• GRM: 3.9

CMA / ARV

• ARV (median comp): $105,467
• List price: $75,000
• Delta: -28.89%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 54.2%
• Equity multiple: 5.00×
• Total profit: $84,042
• Equity at exit: $67,566

10-year hold

• IRR: 47.7%
• Equity multiple: 11.18×
• Total profit: $213,706
• Equity at exit: $145,709

Cash invested: $21,000 (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 12953

• Home prices YoY: 7.2%
• Active inventory: 113
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$162 /mo · $1,947/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $677

Break-even live

Break-even rent $743

Max offer price $75,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,600
Total (2 units)			$1,600

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 210 DOM
2. 2026-06-17
   days on market $75,000 Active 209 DOM
3. 2026-06-16
   days on market $75,000 Active 208 DOM
4. 2026-06-15
   days on market $75,000 Active 207 DOM
5. 2026-06-13
   days on market $75,000 Active 205 DOM
6. 2026-06-12
   days on market $75,000 Active 204 DOM
7. 2026-06-09
   days on market $75,000 Active 201 DOM
8. 2026-06-08
   days on market $75,000 Active 200 DOM
9. 2026-06-07
   days on market $75,000 Active 199 DOM
10. 2026-06-07
    days on market $75,000 Active 198 DOM
11. 2026-06-04
    days on market $75,000 Active 195 DOM
12. 2026-06-02
    days on market $75,000 Active 194 DOM
13. 2026-06-01
    days on market $75,000 Active 193 DOM
14. 2026-05-31
    days on market $75,000 Active 192 DOM
15. 2026-04-27
    status Active 363-char remark

    Show marketing remark (363 chars)

    Duplex with both units rented at $850 each—an excellent investment offering solid rental income. The neighboring triplex is also available, making this a great opportunity to purchase as a pair. All units in the triplex are currently rented: first and second floors at $850 each, and the third floor at $750. Property includes a large parking lot next door.

16. 2026-03-24
    historical 363-char remark

    Show marketing remark (363 chars)

    Duplex with both units rented at $850 each—an excellent investment offering solid rental income. The neighboring triplex is also available, making this a great opportunity to purchase as a pair. All units in the triplex are currently rented: first and second floors at $850 each, and the third floor at $750. Property includes a large parking lot next door.

17. 2025-10-13
    listed $75,000 Active 363-char remark

    Show marketing remark (363 chars)

    Duplex with both units rented at $850 each—an excellent investment offering solid rental income. The neighboring triplex is also available, making this a great opportunity to purchase as a pair. All units in the triplex are currently rented: first and second floors at $850 each, and the third floor at $750. Property includes a large parking lot next door.

18. 2024-12-12
    soldstatus $210,000
19. 2005-03-14
    soldstatus $25,000

ⓘ 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: $1,947 · $162/mo
• Projected year-2 tax: $1,947 · $162/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 60% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$4,201
• − Property taxes: −$1,947
• − Insurance: −$375
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$2,182
• Taxable income: $7,423
• Est. tax owed @ 24.0%: −$1,781
• After-tax cash flow: $6,345/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: 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

+200.0% since first listed

5 events — show timeline

• 2026-04-27 Relisted — ACVMLS
• 2026-03-24 Delisted — ACVMLS
• 2025-10-13 Listed $75,000 ACVMLS
• 2024-12-12 Sold (Public Records) $210,000 Public Records
• 2005-03-14 Sold (Public Records) $25,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,947 · -0.7% YoY. Source: county tax records.