66 Horicon Ave Unit 1W · Bolton Landing, NY 12814

$749,000

2 bd · 2.0 ba · 915 sqft · Condo · 42 Days on market

Built 2025 $819/sqft · 31% below area Est $1092k · 31% under $596/mo HOA · 56% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Introducing the new Bolton Condominium, an exclusive boutique residence in the meticulously restored Old Bolton Schoolhouse, an 1898 brick landmark reimagined into just four private condominium homes. Unit 1W offers effortless main-level living with an open-concept design and refined finishes throughout providing an ideal year-round or Lake George retreat. Enjoy the added convenience of private basement storage, one dedicated garage by and additional off-street parking spaces. A short walk or drive and one is ''Downtown'' at the pristine shores of Lake George with public beaches, parks, restaurants and shopping conveniences. This offering is ''Rental Friendly'' as both short and long term r

Key facts

• Dedicated garage
• Off-street parking
• $596 HOA

Tags

• METICULOUSLY RESTORED
• PRIVATE BASEMENT STORAGE
• DEDICATED GARAGE
• OFF-STREET PARKING

Property features AI

Finance

• HOA & community: Has association; Monthly association fee of $596.36; Association covers grounds and structure maintenance, snow removal, and trash

Exterior

• Parking: Has garage (1 garage space); 3 total parking spaces; Off-street parking with stone surface; Additional garages present on property
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers
• Home design: Condominium; Exterior and interior basement entries
• Construction: Brick and stone construction; Stone foundation; Built with durable materials
• Exterior features: Garden; Views; Level lot; Lake George nearby

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Range hood; Refrigerator; Solid surface counters
• Bedrooms: Primary bedroom on the first floor; Additional bedroom on the first floor
• Flooring: Tile; Laminate
• Bathrooms: Two full bathrooms on the first floor; Primary bathroom with shower; Full bathroom with tub/shower combo
• Heating & cooling: Ductless heating (electric); Ductless cooling
• Interior features: Paddle fan; Solid surface counters; Energy Star qualified appliances; Aluminum-framed, double-pane insulated windows; 1 fireplace (electric, in living room); 6 total rooms
• Laundry & utility: Washer and dryer included; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $749k.

Deal economics

• At list price, monthly cash flow is $-5k ($-59k/yr) — negative.
• To cash-flow at today's rent, offer at most $36k (95.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (85.7% below list).
• Recommended offer: $36k (95.2% below list) — sets the bar for cash-flow.
• Cap rate -1.6% vs local median 0.4% in Bolton Landing — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 59/100 on livability (#1,015 in NY) — a working-class tenant base; expect higher turnover. Strengths: schools A+; Watch: crime D+, cost of living D, amenities F.
• Bolton Central School District (rural): math 75% / reading 80% proficiency, ranked #110 of 755 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 44 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 56% of rent.

Recommended offer $36,152 (95.2% 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 42 days. Have you received any prior offers? Is the seller open to a 95% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.14% ✗
• Cap rate: -1.60%
• Cash-on-cash: -28.19%
• DSCR: -0.25
• GRM: 58.3

CMA / ARV

• ARV (median comp): $1,091,938
• List price: $749,000
• Delta: -31.41%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.45×
• Total profit: $94,547
• Equity at exit: $674,759

10-year hold

• IRR: 8.2%
• Equity multiple: 3.51×
• Total profit: $525,925
• Equity at exit: $1,455,142

Cash invested: $209,720 (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 12814

• Home prices YoY: 2.0%
• Active inventory: 44
• Price-to-rent: 58.3×

Monthly cashflow live

• Estimated rent: $1,071 medium
• Mortgage (P&I): −$3,928
• Tax est. 1.5%: −$936 /mo · $11,235/yr
• Insurance: −$312
• HOA: −$596
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-4,926

Break-even live

Break-even rent $7,307

Max offer price $36,152

Occupancy floor —

Sensitivity live

Price	-10% $-4,409	-5% $-4,668	+0% $-4,926	+5% $-5,185	+10% $-5,444
Rent	-10% $-5,011	-5% $-4,969	+0% $-4,926	+5% $-4,884	+10% $-4,842
Rate	-1.0pp $-4,549	-0.5pp $-4,736	base $-4,926	+0.5pp $-5,120	+1.0pp $-5,318

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $596 · $7,152/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-22
   days on market $749,000 Active 42 DOM
2. 2026-06-21
   days on market $749,000 Active 41 DOM
3. 2026-06-21
   days on market $749,000 Active 40 DOM
4. 2026-06-18
   days on market $749,000 Active 38 DOM
5. 2026-06-17
   days on market $749,000 Active 37 DOM
6. 2026-06-16
   days on market $749,000 Active 36 DOM
7. 2026-06-15
   days on market $749,000 Active 35 DOM
8. 2026-06-13
   days on market $749,000 Active 33 DOM
9. 2026-06-12
   days on market $749,000 Active 32 DOM
10. 2026-06-09
    days on market $749,000 Active 29 DOM
11. 2026-06-08
    days on market $749,000 Active 28 DOM
12. 2026-06-07
    days on market $749,000 Active 27 DOM
13. 2026-06-07
    days on market $749,000 Active 26 DOM
14. 2026-06-04
    days on market $749,000 Active 23 DOM
15. 2026-06-02
    days on market $749,000 Active 22 DOM
16. 2026-06-01
    days on market $749,000 Active 21 DOM
17. 2026-05-31
    days on market $749,000 Active 20 DOM
18. 2026-05-11
    listed $749,000 Active 764-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥97°F today · 18 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: $12,848
• − Mortgage interest: −$41,956
• − Property taxes: −$11,235
• − Insurance: −$3,745
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − HOA: −$7,152
• − Depreciation: −$21,789
• Taxable loss: −$75,084
• Est. tax savings @ 24.0%: +$18,020
• After-tax cash flow: $-41,096/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: Bolton Central School District
• NCES district ID: 3605010
• Math proficiency: 75% ▬ 0.00%
• Reading proficiency: 80% ▬ 0.00%
• Median HH income: $55,568
• Composite: 67.0/100
• National rank: #863
• State rank: #110 of 755 in NY

Livability — Bolton Landing

• Score: 59/100
• State rank: #1015
• US rank: #19844

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bolton Landing, NY
• Population (ZIP): 1,145

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Black 1%
• Common ancestry: Slovak 8% Romanian 5% Scotch-Irish 4%
• Foreign-born: 3% · Canada

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.75%
• Current HPI: 550.304
• 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

1 event — show timeline

• 2026-05-11 Listed $749,000 Global MLS