120 Ressique St · Lake Carmel, NY 10512

$160,000

1 bd · 1.0 ba · 591 sqft · SingleFamily public records · 146 Days on market

Built 1950 5,227 sqft lot

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Why this score? — see what drove the C 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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• 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

Charming Country Cottage. Great Summer Getaway Or Weekender. In Move In Condition W/ Nice Hardwood Floors, Brick Fireplace, Numerous Recent Updates Inc W/ W In Br, Newly Rebuilt Stairs From Lvl 1 To Lvl 2,New Furnace, Oil Tank & Damper In Chimney Cap. Fish/Swim/Boat Nearby On White Pond Lake. Laundry Hookup In Den And Walk-in Closet. Outside Shed. Utilities Access From Outside. Oil Tank Above & Outside. Great I-84 Commute.

Key facts

• 5,227 sq ft lot
• Built 1950
• Listed 146 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.3% in Lake Carmel — 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 (#650 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Carmel Central School District (suburban): math 46% / reading 63% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Kent Elementary School (math 37% / reading 67%, grade C-, #988 of 2,108 statewide, top 49%, 394 students, 29% FRL); George Fischer Middle School (math 21% / reading 56%, grade F, #437 of 729 statewide, top 60%, 1,130 students, 38% FRL); Carmel High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,365 students, 36% FRL) — zoned schools average 34% FRL vs 17% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 227 active listings in the ZIP; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-10,317
• Equity at exit: $23,857

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $11,187
• Equity at exit: $13,834

Cash invested: $44,800 (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 10512

• Home prices YoY: -25.5%
• Active inventory: 227
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,709 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $245

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 81%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2025-09-09
   status Pending
2. 2025-04-16
   listed $160,000 Active
3. 2004-01-29
   soldstatus $145,000
4. 2004-01-08
   soldstatus $145,000 438-char remark

   Show marketing remark (438 chars)

   Charming Country Cottage. Great Summer Getaway Or Weekender. In Move In Condition W/ Nice Hardwood Floors, Brick Fireplace, Numerous Recent Updates Inc W/ W In Br, Newly Rebuilt Stairs From Lvl 1 To Lvl 2,New Furnace, Oil Tank & Damper In Chimney Cap. Fish/Swim/Boat Nearby On White Pond Lake. Laundry Hookup In Den And Walk-in Closet. Outside Shed. Utilities Access From Outside. Oil Tank Above & Outside. Great I-84 Commute.

5. 2003-12-12
   historical 438-char remark

   Show marketing remark (438 chars)

   Charming Country Cottage. Great Summer Getaway Or Weekender. In Move In Condition W/ Nice Hardwood Floors, Brick Fireplace, Numerous Recent Updates Inc W/ W In Br, Newly Rebuilt Stairs From Lvl 1 To Lvl 2,New Furnace, Oil Tank & Damper In Chimney Cap. Fish/Swim/Boat Nearby On White Pond Lake. Laundry Hookup In Den And Walk-in Closet. Outside Shed. Utilities Access From Outside. Oil Tank Above & Outside. Great I-84 Commute.

6. 2003-09-17
   listed $145,000 438-char remark

   Show marketing remark (438 chars)

   Charming Country Cottage. Great Summer Getaway Or Weekender. In Move In Condition W/ Nice Hardwood Floors, Brick Fireplace, Numerous Recent Updates Inc W/ W In Br, Newly Rebuilt Stairs From Lvl 1 To Lvl 2,New Furnace, Oil Tank & Damper In Chimney Cap. Fish/Swim/Boat Nearby On White Pond Lake. Laundry Hookup In Den And Walk-in Closet. Outside Shed. Utilities Access From Outside. Oil Tank Above & Outside. Great I-84 Commute.

7. 2001-02-26
   soldstatus $104,000
8. 2001-02-09
   soldstatus $104,000 70-char remark

   Show marketing remark (70 chars)

   Unconventional, Clean, Ideal For One Or Two People. Very Economi- Cal.

9. 2001-01-30
   price $112,000 70-char remark

   Show marketing remark (70 chars)

   Unconventional, Clean, Ideal For One Or Two People. Very Economi- Cal.

10. 2001-01-30
    historical 70-char remark

    Show marketing remark (70 chars)

    Unconventional, Clean, Ideal For One Or Two People. Very Economi- Cal.

11. 2000-11-07
    listed $104,000 70-char remark

    Show marketing remark (70 chars)

    Unconventional, Clean, Ideal For One Or Two People. Very Economi- Cal.

12. 1996-01-05
    soldstatus $20,000
13. 1993-01-26
    soldstatus $55,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,512
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$4,655
• Taxable income: $413
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $2,837/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: Carmel Central School District
• NCES district ID: 3606570
• Math proficiency: 46% ▼ -15.00%
• Reading proficiency: 63% ▲ 11.00%
• Median HH income: $87,665
• Composite: 50.05/100
• National rank: #1914
• State rank: #258 of 590 in NY

Livability — Lake Carmel

• Score: 66/100
• State rank: #650
• US rank: #12139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 24,238

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 1%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 11% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.73%
• Current HPI: 258.8452
• 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

+190.9% since first listed

13 events — show timeline

• 2025-09-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-16 Listed $160,000 OneKey® MLS as Distributed by MLS Grid
• 2004-01-29 Sold (Public Records) $145,000 Public Records
• 2004-01-08 Sold (MLS) $145,000 HGMLS
• 2003-12-12 Delisted — HGMLS
• 2003-09-17 Listed $145,000 HGMLS
• 2001-02-26 Sold (Public Records) $104,000 Public Records
• 2001-02-09 Sold (MLS) $104,000 HGMLS
• 2001-01-30 Delisted — HGMLS
• 2001-01-30 Price Changed $112,000 HGMLS
• 2000-11-07 Listed $104,000 HGMLS
• 1996-01-05 Sold (Public Records) $20,000 Public Records
• 1993-01-26 Sold (Public Records) $55,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $8,637 · +30.2% YoY. Source: county tax records.