7 Whiteface Inn Lane Ln Unit 224, Int 3 · Lake Placid, NY 12946

$37,500

1 bd · 1.0 ba · 770 sqft · Townhouse public records · 307 Days on market

Built 2004 435 sqft lot $49/sqft · 12% below area Est $46k · 19% under $314/mo HOA · 36% of rent ↓ 13% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1 BR , 1.5 BA residence with views of the courtyard, gardens, pool, Mckenzie mountain range. This is a great opportunity to own a carefree vacation spot in the Adirondacks! One would purchase a 1/12th interval which translates to approximately one week a season. This interval includes one of the coveted 'owner's lockers', #87.

Key facts

• Parking
• Community pool
• Built 2004

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $38k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($879 rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 1.6% in Lake Placid — 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 66/100 on livability (#647 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, crime A; Watch: schools C-, employment D+, cost of living D+.
• Lake Placid Central School District (town): math 46% / reading 58% proficiency, ranked #344 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 148 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $259 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $2k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $33,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 2.35% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.06%
• DSCR: 1.80
• GRM: 3.6

CMA / ARV

• ARV (median comp): $46,302
• List price: $37,500
• Delta: -19.01%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.0%
• Equity multiple: 1.40×
• Total profit: $4,170
• Equity at exit: $5,591

10-year hold

• IRR: 19.4%
• Equity multiple: 2.65×
• Total profit: $17,335
• Equity at exit: $3,242

Cash invested: $10,500 (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 12946

• Home prices YoY: -21.5%
• Active inventory: 148
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $879 medium
• Mortgage (P&I): −$197
• Tax from tax record: −$10 /mo · $126/yr
• Insurance: −$16
• HOA: −$314
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $158

Break-even live

Break-even rent $679

Max offer price $37,500

Occupancy floor 77%

Sensitivity live

Price	-10% $179	-5% $169	+0% $158	+5% $147	+10% $137
Rent	-10% $89	-5% $123	+0% $158	+5% $193	+10% $227
Rate	-1.0pp $177	-0.5pp $168	base $158	+0.5pp $148	+1.0pp $138

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: $9,375
• Closing costs: $1,125
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $314 · $3,768/yr
• Likely covers: pool

Listing history 28 events

1. 2026-06-21
   days on market $37,500 Active 307 DOM
2. 2026-06-18
   days on market $37,500 Active 305 DOM
3. 2026-06-17
   days on market $37,500 Active 304 DOM
4. 2026-06-16
   days on market $37,500 Active 303 DOM
5. 2026-06-15
   days on market $37,500 Active 302 DOM
6. 2026-06-13
   days on market $37,500 Active 300 DOM
7. 2026-06-12
   days on market $37,500 Active 299 DOM
8. 2026-06-09
   days on market $37,500 Active 296 DOM
9. 2026-06-08
   days on market $37,500 Active 295 DOM
10. 2026-06-07
    days on market $37,500 Active 294 DOM
11. 2026-06-07
    days on market $37,500 Active 293 DOM
12. 2026-06-04
    pricedays on market $37,500 Active 290 DOM
13. 2026-06-02
    days on market $40,000 Active 289 DOM
14. 2026-06-01
    days on market $40,000 Active 288 DOM
15. 2026-05-31
    days on market $40,000 Active 287 DOM
16. 2026-03-19
    status Active 337-char remark

    Show marketing remark (337 chars)

    Spacious 1 BR , 1.5 BA residence with views of the courtyard, gardens, pool, Mckenzie mountain range. This is a great opportunity to own a carefree vacation spot in the Adirondacks! One would purchase a 1/12th interval which translates to approximately one week a season. This interval includes one of the coveted 'owner's lockers', #87.

17. 2026-03-07
    historical 337-char remark

    Show marketing remark (337 chars)

    Spacious 1 BR , 1.5 BA residence with views of the courtyard, gardens, pool, Mckenzie mountain range. This is a great opportunity to own a carefree vacation spot in the Adirondacks! One would purchase a 1/12th interval which translates to approximately one week a season. This interval includes one of the coveted 'owner's lockers', #87.

18. 2025-08-04
    listed $40,000 Active 337-char remark

    Show marketing remark (337 chars)

    Spacious 1 BR , 1.5 BA residence with views of the courtyard, gardens, pool, Mckenzie mountain range. This is a great opportunity to own a carefree vacation spot in the Adirondacks! One would purchase a 1/12th interval which translates to approximately one week a season. This interval includes one of the coveted 'owner's lockers', #87.

19. 2023-09-29
    soldstatus $40,000 Closed 798-char remark

    Show marketing remark (798 chars)

    Private residence #224 is a large one bedroom, 1 and 1/2 bath. Interval 8 is for sale, and buyer would be purchasing 1/12 deed at The Whiteface Lodge which results in approximately one week every twelve weeks (minimum of 4 weeks per year). 1/12 deeds for The Whiteface Lodge can be sold, willed or transferred. Amenities for this property include two separate year round restaurants (Peak 47 and KANU), access to The Whiteface Lodge waterfront on Lake Placid during the warmer months of the year, outdoor skating rink in the winter, tennis courts, pickleball courts, basketball courts, an indoor and outdoor pool and hot tub, indoor bowling alley, movie theater, game room, full service spa, and gym. Wonderful opportunity to have maintenance free living at a beautiful property in the Adirondacks!

20. 2023-08-16
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Private residence #224 is a large one bedroom, 1 and 1/2 bath. Interval 8 is for sale, and buyer would be purchasing 1/12 deed at The Whiteface Lodge which results in approximately one week every twelve weeks (minimum of 4 weeks per year). 1/12 deeds for The Whiteface Lodge can be sold, willed or transferred. Amenities for this property include two separate year round restaurants (Peak 47 and KANU), access to The Whiteface Lodge waterfront on Lake Placid during the warmer months of the year, outdoor skating rink in the winter, tennis courts, pickleball courts, basketball courts, an indoor and outdoor pool and hot tub, indoor bowling alley, movie theater, game room, full service spa, and gym. Wonderful opportunity to have maintenance free living at a beautiful property in the Adirondacks!

21. 2023-05-20
    price $41,500 798-char remark

    Show marketing remark (798 chars)

    Private residence #224 is a large one bedroom, 1 and 1/2 bath. Interval 8 is for sale, and buyer would be purchasing 1/12 deed at The Whiteface Lodge which results in approximately one week every twelve weeks (minimum of 4 weeks per year). 1/12 deeds for The Whiteface Lodge can be sold, willed or transferred. Amenities for this property include two separate year round restaurants (Peak 47 and KANU), access to The Whiteface Lodge waterfront on Lake Placid during the warmer months of the year, outdoor skating rink in the winter, tennis courts, pickleball courts, basketball courts, an indoor and outdoor pool and hot tub, indoor bowling alley, movie theater, game room, full service spa, and gym. Wonderful opportunity to have maintenance free living at a beautiful property in the Adirondacks!

22. 2023-02-23
    listed $42,500 Active 798-char remark

    Show marketing remark (798 chars)

    Private residence #224 is a large one bedroom, 1 and 1/2 bath. Interval 8 is for sale, and buyer would be purchasing 1/12 deed at The Whiteface Lodge which results in approximately one week every twelve weeks (minimum of 4 weeks per year). 1/12 deeds for The Whiteface Lodge can be sold, willed or transferred. Amenities for this property include two separate year round restaurants (Peak 47 and KANU), access to The Whiteface Lodge waterfront on Lake Placid during the warmer months of the year, outdoor skating rink in the winter, tennis courts, pickleball courts, basketball courts, an indoor and outdoor pool and hot tub, indoor bowling alley, movie theater, game room, full service spa, and gym. Wonderful opportunity to have maintenance free living at a beautiful property in the Adirondacks!

23. 2021-08-11
    soldstatus $37,000
24. 2019-01-29
    listed $41,000
25. 2017-08-18
    soldstatus $39,000
26. 2016-08-04
    soldstatus $38,500
27. 2016-01-25
    listed $42,000
28. 2012-02-09
    listed $46,000

ⓘ 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: $126 · $10/mo
• Projected year-2 tax: $380 · $32/mo
• Expected delta: +$254/yr (+$21/mo · 201.7%)

ⓘ 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 1/10 Low 8 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $10,553
• − Mortgage interest: −$2,101
• − Property taxes: −$126
• − Insurance: −$188
• − Repairs & maintenance: −$844
• − Management: −$844
• − HOA: −$3,768
• − Depreciation: −$1,091
• Taxable income: $1,592
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $1,514/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: Lake Placid Central School District
• NCES district ID: 3616500
• Math proficiency: 46% ▼ -1.00%
• Reading proficiency: 58% ▲ 13.00%
• Median HH income: $52,508
• Composite: 44.64/100
• National rank: #2770
• State rank: #344 of 590 in NY

Livability — Lake Placid

• Score: 66/100
• State rank: #647
• US rank: #12118

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,805

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Romanian 5% American 5%
• Foreign-born: 10% · Canada
• Languages at home: 87% English-only · Russian/Polish/Slavic 8% Spanish 3% Other Indo-European 2%

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: ▼ -85.84%
• Current HPI: 313.7624
• 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

-13.0% since first listed

13 events — show timeline

• 2026-03-19 Relisted — ACVMLS
• 2026-03-07 Delisted — ACVMLS
• 2025-08-04 Listed $40,000 ACVMLS
• 2023-09-29 Sold (MLS) $40,000 ACVMLS
• 2023-08-16 Pending — ACVMLS
• 2023-05-20 Price Changed $41,500 ACVMLS
• 2023-02-23 Listed $42,500 ACVMLS
• 2021-08-11 Sold (MLS) $37,000 ACVMLS
• 2019-01-29 Listed $41,000 ACVMLS
• 2017-08-18 Sold (MLS) $39,000 ACVMLS
• 2016-08-04 Sold (MLS) $38,500 ACVMLS
• 2016-01-25 Listed $42,000 ACVMLS
• 2012-02-09 Listed $46,000 ACVMLS

Property tax history

-8.2%/yr

Latest (2025): $126 · -5.2% YoY. Source: county tax records.