20 Franklin St · Malone, NY 12953

$115,000

5 bd · 2.5 ba · 2,262 sqft · MultiFamily public records · 151 Days on market

Built 1921 Fair condition 0.32 ac lot 3-car garage $51/sqft · 52% below 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 +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Charming duplex located in the village of Malone. Beautiful flower gardens decorate the private back yard. Back unit has new windows, modern kitchen with stainless steal appliances and deck. This home offers a great opportunity to generate income through rental of the front unit, while owner occupies the spacious rear unit.

Key facts

• 3-bay garage
• Value-add potential
• Large backyard

Tags

• LARGE BACKYARD
• 3-BAY GARAGE
• TWO 2-BEDROOM UNITS
• VALUE-ADD POTENTIAL
• COSMETIC IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 4.9% in Malone — 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 70/100 on livability (#437 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime D-, amenities F.
• Malone Central School District (town): math 27% / reading 29% proficiency, ranked #581 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Davis Elementary School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 563 students, 50% FRL); Malone Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 500 students, 52% FRL); Franklin Academy High School (math 82% / reading 70%, grade A-, #623 of 1,100 statewide, top 57%, 719 students, 47% FRL).
• Market conditions: 176 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Franklin County population projected at -14% 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 $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 151 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $95k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.98% ✓
• Cap rate: 15.60%
• Cash-on-cash: 33.23%
• DSCR: 2.48
• GRM: 4.2

CMA / ARV

• ARV (median comp): $241,918
• List price: $115,000
• Delta: -52.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Amsden Street St	0.49mi	5/2.5	2,242 (-1%)	9mo	$110,000	$49	68
21 Park St	0.62mi	6/2.5 (+1)	2,343 (+4%)	12mo	$183,000	$78	50
101 Franklin St	0.25mi	5/2.0	1,725 (-24%)	15mo	$84,500	$49	49
38 Brown St	0.56mi	4/1.5 (-1)	2,368 (+5%)	10mo	$171,500	$72	49
15 Pierrepont Ave	0.92mi	4/2.5 (-1)	2,330 (+3%)	9mo	$189,000	$81	47
17 Stevens St	0.95mi	4/2.5 (-1)	2,270 (+0%)	18mo	$172,000	$76	44
36 State St. St	0.75mi	4/3.0 (-1)	2,332 (+3%)	15mo	$183,380	$79	41
14837 Route 30 St	1.13mi	4/2.0 (-1)	2,145 (-5%)	11mo	$152,000	$71	40
4 St Marks AV Ave	0.38mi	4/2.0 (-1)	1,768 (-22%)	15mo	$168,000	$95	38
80 Constable St	0.98mi	4/1.5 (-1)	1,884 (-17%)	3mo	$189,900	$101	29
41 2nd Street St	0.81mi	4/3.0 (-1)	1,800 (-20%)	11mo	$219,000	$122	24
564 E East Main Street St	0.82mi	4/2.0 (-1)	1,704 (-25%)	15mo	$135,000	$79	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 49.7%
• Equity multiple: 4.71×
• Total profit: $119,521
• Equity at exit: $103,601

10-year hold

• IRR: 43.4%
• Equity multiple: 10.55×
• Total profit: $307,523
• Equity at exit: $223,420

Cash invested: $32,200 (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 →

Active competition Active MLS

• For sale now: 6 active · 1 under contract
• Median asking: $109,500 ($48/sqft)
• Median days on market: 124 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +120.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12953

• Home prices YoY: 7.2%
• Active inventory: 176
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,279 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $892

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,278
Total (2 units)			$2,279

Break-even live

Break-even rent $1,150

Max offer price $115,000

Occupancy floor 56%

Sensitivity live

Price	-10% $957	-5% $924	+0% $892	+5% $859	+10% $826
Rent	-10% $712	-5% $802	+0% $892	+5% $982	+10% $1,072
Rate	-1.0pp $949	-0.5pp $921	base $892	+0.5pp $862	+1.0pp $831

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: $28,750
• Closing costs: $3,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Webster St Malone, NY	2.0	1.0	—	$570	—	0d	1	0.35mi
32 Morton St Unit 4 Malone, NY	1.0	1.0	500	$800	$1.60	5d	1	0.67mi
32 Morton St Unit 4 Malone, NY	1.0	1.0	500	$800	$1.60	0d	1	0.67mi
10 Constable St Unit 4 Malone, NY	1.0	1.0	460	$800	$1.74	184d	1	0.78mi

Property features AI

Exterior

• Parking: 3-car garageDrivewayGarage faces frontOpen parking available
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Residential income property (duplex)Two storiesUpdated/remodeled
• Construction: Wood sidingMetal roofStone foundationBuilt as a duplex
• Exterior features: Front porchBack yardAbove-ground poolProperty has a viewPaved city street frontagePublicly maintained road

Interior

• Kitchen: Electric ovenRefrigerator
• Flooring: CarpetHardwood
• Heating & cooling: Forced air heatingOil heatingNo central cooling
• Interior features: StorageUnfinished basement
• Laundry & utility: Washer hookupElectric dryer hookup

Listing history 50 events

1. 2026-11-08
   days on market $115,000 Active 151 DOM
2. 2026-11-07
   days on market $115,000 Active 150 DOM
3. 2026-11-06
   days on market $115,000 Active 149 DOM
4. 2026-11-05
   days on market $115,000 Active 148 DOM
5. 2026-11-04
   days on market $115,000 Active 147 DOM
6. 2026-11-02
   days on market $115,000 Active 145 DOM
7. 2026-11-01
   days on market $115,000 Active 144 DOM
8. 2026-10-31
   days on market $115,000 Active 143 DOM
9. 2026-10-31
   days on market $115,000 Active 142 DOM
10. 2026-10-29
    days on market $115,000 Active 141 DOM
11. 2026-10-28
    days on market $115,000 Active 140 DOM
12. 2026-10-27
    days on market $115,000 Active 139 DOM
13. 2026-10-26
    days on market $115,000 Active 138 DOM
14. 2026-10-25
    days on market $115,000 Active 137 DOM
15. 2026-10-24
    days on market $115,000 Active 136 DOM
16. 2026-10-23
    days on market $115,000 Active 135 DOM
17. 2026-10-22
    days on market $115,000 Active 134 DOM
18. 2026-10-21
    days on market $115,000 Active 133 DOM
19. 2026-10-20
    days on market $115,000 Active 132 DOM
20. 2026-10-19
    days on market $115,000 Active 131 DOM
21. 2026-10-18
    days on market $115,000 Active 130 DOM
22. 2026-10-17
    days on market $115,000 Active 129 DOM
23. 2026-10-16
    days on market $115,000 Active 128 DOM
24. 2026-10-15
    days on market $115,000 Active 127 DOM
25. 2026-10-14
    days on market $115,000 Active 126 DOM
26. 2026-10-13
    days on market $115,000 Active 125 DOM
27. 2026-10-12
    days on market $115,000 Active 124 DOM
28. 2026-10-11
    days on market $115,000 Active 123 DOM
29. 2026-10-10
    days on market $115,000 Active 122 DOM
30. 2026-10-09
    days on market $115,000 Active 121 DOM
31. 2026-10-08
    days on market $115,000 Active 120 DOM
32. 2026-10-07
    days on market $115,000 Active 119 DOM
33. 2026-10-06
    days on market $115,000 Active 118 DOM
34. 2026-10-05
    days on market $115,000 Active 117 DOM
35. 2026-10-04
    days on market $115,000 Active 116 DOM
36. 2026-10-03
    days on market $115,000 Active 115 DOM
37. 2026-10-02
    days on market $115,000 Active 114 DOM
38. 2026-10-01
    days on market $115,000 Active 113 DOM
39. 2026-09-30
    days on market $115,000 Active 112 DOM
40. 2026-09-29
    days on market $115,000 Active 111 DOM
41. 2026-09-28
    days on market $115,000 Active 110 DOM
42. 2026-09-27
    days on market $115,000 Active 109 DOM
43. 2026-09-26
    days on market $115,000 Active 108 DOM
44. 2026-09-25
    days on market $115,000 Active 107 DOM
45. 2026-09-24
    days on market $115,000 Active 106 DOM
46. 2026-09-23
    days on market $115,000 Active 105 DOM
47. 2026-09-20
    days on market $115,000 Active 102 DOM
48. 2026-09-19
    days on market $115,000 Active 101 DOM
49. 2026-09-19
    days on market $115,000 Active 100 DOM
50. 2026-09-17
    days on market $115,000 Active 99 DOM

ⓘ 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: $3,094 · $258/mo
• Projected year-2 tax: $3,094 · $258/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,348
• − Mortgage interest: −$6,442
• − Property taxes: −$3,094
• − Insurance: −$575
• − Repairs & maintenance: −$2,188
• − Management: −$2,188
• − Depreciation: −$3,345
• Taxable income: $9,516
• Est. tax owed @ 24.0%: −$2,284
• After-tax cash flow: $8,415/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $56,550–$101,790 screening

This two-unit duplex requires moderate repairs and maintenance, including painting and landscaping. With some cosmetic improvements, it has the potential to increase its value for both resale and rental purposes.

Repairs flagged

• Minor Paint — Paint appears faded in some areas, indicating the need for touch-ups.
• Minor Landscaping — Some areas of the landscaping appear overgrown, indicating the need for trimming and maintenance.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can significantly improve the curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both Landscaping improvements — A well-maintained landscape can increase the property's curb appeal and attract more potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Davis Elementary School F NY #2,004/2,108 Nat'l #35,051/41,679 Middle Malone Middle School F NY #678/729 Nat'l #11,766/14,009 High Franklin Academy High School A- NY #623/1,100 Nat'l #1,517/17,239

Schools (NCES district)

• District: Malone Central School District
• NCES district ID: 3618180
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $46,681
• Composite: 24.23/100
• National rank: #7725
• State rank: #581 of 590 in NY

B Composite livability gradescore 70/100

Livability — Malone

• Score: 70/100
• State rank: #437
• US rank: #7656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malone, NY
• County: Franklin · 48,098 people
• Population (ZIP): 12,842
• Household income: $64,673
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 4% of renters

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Population outlook (Franklin County) Hauer SSP2

• Today (2025): 48,098 people
• By 2030: 46,790 · -2.7%
• By 2040: 44,400 · -7.7%
• By 2050: 41,256 · -14.2%
• By 2075: 32,190 · -33.1%
• By 2100: 23,407 · -51.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

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Political lean MEDSL · Franklin

• 2024 margin: Lean R (+9.0) · D 45.5% · R 54.5%
• 2008→2024 swing: -31.2pp toward R · 2008: 22.2pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+2.2 2016: R+7.4 2012: D+26.3 2008: D+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.73%
• Current HPI: 263.2406
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Exterior

• Parking: 3-car garageDrivewayGarage faces frontOpen parking available
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Residential income property (duplex)Two storiesUpdated/remodeled
• Construction: Wood sidingMetal roofStone foundationBuilt as a duplex
• Exterior features: Front porchBack yardAbove-ground poolProperty has a viewPaved city street frontagePublicly maintained road

Interior

• Kitchen: Electric ovenRefrigerator
• Flooring: CarpetHardwood
• Heating & cooling: Forced air heatingOil heatingNo central cooling
• Interior features: StorageUnfinished basement
• Laundry & utility: Washer hookupElectric dryer hookup

Price history

+144.7% since first listed

6 events — show timeline

• 2026-06-09 Pending — ACVMLS
• 2026-04-06 Listed $115,000 ACVMLS
• 2017-10-16 Sold (Public Records) $95,000 Public Records
• 2017-09-25 Sold (MLS) $95,000 ACVMLS
• 2016-06-07 Listed $99,000 ACVMLS
• 1993-06-29 Sold (Public Records) $47,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,094 · -0.7% YoY. Source: county tax records.