22 Merrywood Dr · Altona, NY 12910

$49,900

2 bd · 1.0 ba · 248 sqft · Other public records · 22 Days on market

Built 1985 8,276 sqft lot $201/sqft · 25% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this charming and well-maintained home or camp nestled in a peaceful, wooded setting in Altona. Offering a warm and inviting atmosphere, this property has been thoughtfully updated and beautifully presented, making it truly move-in ready. Step inside to a bright and spacious living area featuring natural light and a comfortable layout that flows seamlessly throughout the home. The kitchen offers functional workspace and storage, while the adjoining dining area provides the perfect spot for everyday meals or entertaining. This home includes two bedrooms with cozy, well-lit spaces and a clean, refreshed bathroom. A significant highlight is the additional living space, providing ext

Key facts

• 8,276 sq ft lot
• 4 parking spots
• Pool

Property features AI

Exterior

• Parking: Open parking for 4 vehicles
• Utilities: Public water; Septic tank; 100 amp electric service; Electricity and water connected; Sewer connected; Cable and phone available
• Home design: Manufactured house (single-wide); Updated/remodeled; One story; Entry level on one level
• Construction: Vinyl siding; Aluminum roof; Slab foundation; Built as a manufactured home
• Exterior features: Corner lot; Private gravel road access (private maintained road); View

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating
• Interior features: Double-pane windows; Rain gutters; Storage shed(s)
• Laundry & utility: No in-home laundry (no washer/dryer listed)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($898 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#1,166 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Northern Adirondack Central School District (rural): math 47% / reading 49% proficiency, ranked #430 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Clinton County population projected at -16% 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $50k implies a 138% gain — meaningful room to come down on a strong offer.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.80% ✓
• Cap rate: 15.36%
• Cash-on-cash: 32.39%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

• ARV (median comp): $173,682
• List price: $49,900
• Delta: -71.27%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 49.0%
• Equity multiple: 4.66×
• Total profit: $51,200
• Equity at exit: $44,954

10-year hold

• IRR: 42.7%
• Equity multiple: 10.44×
• Total profit: $131,900
• Equity at exit: $96,945

Cash invested: $13,972 (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 12910

• Home prices YoY: 4.5%
• Active inventory: 14
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $898 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $377

Break-even live

Break-even rent $421

Max offer price $49,900

Occupancy floor 53%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-07
   listed $49,900 Active 1230-char remark
2. 2017-07-27
   soldstatus $21,000
3. 1996-09-04
   soldstatus $20,740

ⓘ 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: $600 · $50/mo
• Projected year-2 tax: $722 · $60/mo
• Expected delta: +$122/yr (+$10/mo · 20.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $10,778
• − Mortgage interest: −$2,795
• − Property taxes: −$600
• − Insurance: −$250
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$1,452
• Taxable income: $3,957
• Est. tax owed @ 24.0%: −$950
• After-tax cash flow: $3,575/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: Northern Adirondack Central School District
• NCES district ID: 3621260
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $44,656
• Composite: 40.62/100
• National rank: #3689
• State rank: #430 of 590 in NY

Livability — Altona

• Score: 51/100
• State rank: #1166
• US rank: #25387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,994

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Black 5% Asian 2% Two or more races 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 23% Iranian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.23%
• Current HPI: 260.0932
• 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

+140.6% since first listed

4 events — show timeline

• 2026-05-29 Pending — ACVMLS
• 2026-05-07 Listed $49,900 ACVMLS
• 2017-07-27 Sold (Public Records) $21,000 Public Records
• 1996-09-04 Sold (Public Records) $20,740 Public Records

Property tax history

+3.8%/yr

Latest (2025): $600 · -4.0% YoY. Source: county tax records.