56 Race Track Rd · Ticonderoga, NY 12883

$129,000

1 bd · 1.0 ba · 490 sqft · SingleFamily public records · 374 Days on market

Built 2024 1.00 ac lot $263/sqft · 17% above area Est $123k · at est.

---

Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• ARV discount +5.5/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.1/10.0

Listing remarks MLS

Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

Key facts

• Add a garage
• Room to park boat
• Create living space

Tags

• INVESTMENT OPPORTUNITY
• MINUTES TO AREA LAKES
• ROOM TO PARK BOAT
• ADD A GARAGE
• CREATE LIVING SPACE
• MINUTES TO BOAT LAUNCHES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (33.2% below list).
• Recommended offer: $86k (33.2% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 2.2% in Ticonderoga — 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 77/100 on livability (#182 in NY, #2,828 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities D+, commute F.
• Ticonderoga Central School District (rural): math 41% / reading 50% proficiency, ranked #459 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($892 loan paydown + $13k appreciation (10.0% local appreciation)).
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 374 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $129k implies a 84% gain — meaningful room to come down on a strong offer.

Recommended offer $86,202 (33.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 374 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• GRM: 12.5

CMA / ARV

• ARV (median comp): $123,478
• List price: $129,000
• Delta: 4.47%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 19.7%
• Equity multiple: 2.60×
• Total profit: $57,917
• Equity at exit: $116,213

10-year hold

• IRR: 18.1%
• Equity multiple: 5.99×
• Total profit: $180,268
• Equity at exit: $250,619

Cash invested: $36,120 (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 12883

• Home prices YoY: 14.5%
• Active inventory: 60
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $862 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$145 /mo · $1,734/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $-194

Break-even live

Break-even rent $1,107

Max offer price $94,767

Occupancy floor —

Sensitivity live

Price	-10% $-121	-5% $-157	+0% $-194	+5% $-230	+10% $-267
Rent	-10% $-262	-5% $-228	+0% $-194	+5% $-160	+10% $-126
Rate	-1.0pp $-129	-0.5pp $-161	base $-194	+0.5pp $-227	+1.0pp $-261

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $129,000 Active 374 DOM
2. 2026-06-18
   days on market $129,000 Active 372 DOM
3. 2026-06-17
   days on market $129,000 Active 371 DOM
4. 2026-06-16
   days on market $129,000 Active 370 DOM
5. 2026-06-15
   days on market $129,000 Active 369 DOM
6. 2026-06-13
   days on market $129,000 Active 367 DOM
7. 2026-06-12
   days on market $129,000 Active 366 DOM
8. 2026-06-09
   days on market $129,000 Active 363 DOM
9. 2026-06-08
   days on market $129,000 Active 362 DOM
10. 2026-06-07
    days on market $129,000 Active 361 DOM
11. 2026-06-07
    days on market $129,000 Active 360 DOM
12. 2026-06-04
    days on market $129,000 Active 357 DOM
13. 2026-06-02
    days on market $129,000 Active 356 DOM
14. 2026-06-01
    days on market $129,000 Active 355 DOM
15. 2026-05-31
    days on market $129,000 Active 354 DOM
16. 2026-04-28
    status Active 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

17. 2026-04-20
    status Pending 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

18. 2025-12-30
    status Active 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

19. 2025-11-03
    historical Contingent 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

20. 2025-08-12
    price $135,000 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

21. 2025-05-31
    listed $159,000 Active 782-char remark

    Show marketing remark (782 chars)

    Comfortably cozy and efficient! 1 bed and 1 bath home resting on 1+ acre. currently a great rental bringing in a good monthly income. Continue to rent as an investment, could be your permanent home, or a great second home for when you want to come and enjoy the Adirondacks, Ticonderoga or the beautiful surrounding areas. Minutes to all the area lakes and ponds. Plenty of room to park your boat. You could add a garage to keep your toys stored here. Create living space over your new garage for yourself and continue to rent the current cottage monthly or Airbnb for the income. The possibilities are endless here. Start here and continue to grow. Only minutes to both Lake Champlain and Lake George boat launches, Town Beach on Black Point Road, as well as the bridge to Vermont.

22. 2023-01-31
    soldstatus $70,000
23. 2018-08-28
    soldstatus $80,000
24. 1993-03-31
    soldstatus $90,000

ⓘ 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: $1,734 · $145/mo
• Projected year-2 tax: $1,957 · $163/mo
• Expected delta: +$223/yr (+$19/mo · 12.8%)

ⓘ 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 ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $10,344
• − Mortgage interest: −$7,226
• − Property taxes: −$1,734
• − Insurance: −$645
• − Repairs & maintenance: −$828
• − Management: −$828
• − Depreciation: −$3,753
• Taxable loss: −$4,669
• Est. tax savings @ 24.0%: +$1,121
• After-tax cash flow: $-1,205/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: Ticonderoga Central School District
• NCES district ID: 3628680
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 50% ▲ 7.00%
• Median HH income: $46,111
• Composite: 38.65/100
• National rank: #4150
• State rank: #459 of 590 in NY

Livability — Ticonderoga

• Score: 77/100
• State rank: #182
• US rank: #2828

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ticonderoga, NY
• Population (ZIP): 4,781

Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 12% Romanian 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.24%
• Current HPI: 301.3984
• 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

+50.0% since first listed

9 events — show timeline

• 2026-04-28 Relisted — Global MLS
• 2026-04-20 Pending — Global MLS
• 2025-12-30 Relisted — Global MLS
• 2025-11-03 Contingent — Global MLS
• 2025-08-12 Price Changed $135,000 Global MLS
• 2025-05-31 Listed $159,000 Global MLS
• 2023-01-31 Sold (Public Records) $70,000 Public Records
• 2018-08-28 Sold (Public Records) $80,000 Public Records
• 1993-03-31 Sold (Public Records) $90,000 Public Records

Property tax history

-4.6%/yr

Latest (2025): $1,734 · -3.7% YoY. Source: county tax records.