20 Franklin St · Malone, NY 12953

$115,000

5 bd · 2.5 ba · 2,262 sqft · MultiFamily public records · 64 Days on market

Built 1921 0.32 ac lot $51/sqft · 51% 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
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

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

Listing remarks MLS

This spacious duplex is conveniently located near all Village amenities and features a large backyard along with a 3-bay garage, offering ample parking and storage. The current layout consists of two 2-bedroom units. Ideal for owner-occupancy with supplemental income, or as an investment opportunity, this property offers excellent value-add potential with cosmetic improvements. Sold as-is for a straightforward transaction. Priced at $115,000.00, this is a value-add opportunity at an attractive entry point; schedule your showing today!

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.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive. Per door: $334/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 5.2% 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: 115 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 64 days — a 6% lower offer ($108k) 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.74% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.89%
• DSCR: 2.11
• GRM: 4.8

CMA / ARV

• ARV (median comp): $236,762
• List price: $115,000
• Delta: -51.43%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.0%
• Equity multiple: 4.27×
• Total profit: $105,278
• Equity at exit: $103,601

10-year hold

• IRR: 37.2%
• Equity multiple: 9.60×
• Total profit: $276,768
• 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 →

ZIP-level market 12953

• Home prices YoY: 7.2%
• Active inventory: 115
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $668

Break-even live

Break-even rent $1,150

Max offer price $115,000

Occupancy floor 62%

Sensitivity live

Price	-10% $733	-5% $701	+0% $668	+5% $635	+10% $603
Rent	-10% $510	-5% $589	+0% $668	+5% $747	+10% $826
Rate	-1.0pp $726	-0.5pp $697	base $668	+0.5pp $638	+1.0pp $608

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,996
Total (2 units)			$1,996

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
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   statusdays on market $115,000 Pending 64 DOM
2. 2026-06-08
   days on market $115,000 Active 63 DOM
3. 2026-06-07
   days on market $115,000 Active 62 DOM
4. 2026-06-07
   days on market $115,000 Active 61 DOM
5. 2026-06-04
   days on market $115,000 Active 58 DOM
6. 2026-06-02
   days on market $115,000 Active 57 DOM
7. 2026-06-01
   days on market $115,000 Active 56 DOM
8. 2026-05-31
   days on market $115,000 Active 55 DOM
9. 2026-04-06
   listed $115,000 Active 540-char remark

   Show marketing remark (540 chars)

   This spacious duplex is conveniently located near all Village amenities and features a large backyard along with a 3-bay garage, offering ample parking and storage. The current layout consists of two 2-bedroom units. Ideal for owner-occupancy with supplemental income, or as an investment opportunity, this property offers excellent value-add potential with cosmetic improvements. Sold as-is for a straightforward transaction. Priced at $115,000.00, this is a value-add opportunity at an attractive entry point; schedule your showing today!

10. 2017-10-16
    soldstatus $95,000
11. 2017-09-25
    soldstatus $95,000 325-char remark

    Show marketing remark (325 chars)

    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.

12. 2016-06-07
    listed $99,000 325-char remark

    Show marketing remark (325 chars)

    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.

13. 1993-06-29
    soldstatus $47,000

ⓘ 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: $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 3/10 Moderate
• 🌡 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: $23,952
• − Mortgage interest: −$6,442
• − Property taxes: −$3,094
• − Insurance: −$575
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$3,345
• Taxable income: $6,663
• Est. tax owed @ 24.0%: −$1,599
• After-tax cash flow: $6,417/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: 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

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
• Population (ZIP): 12,842

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%

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%
• Common ancestry: Lithuanian 16% Slovak 5% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

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

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

+144.7% since first listed

5 events — show timeline

• 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.