30/32 Liberty St · Adams, NY 13605

$179,900

6 bd · 2.0 ba · 2,261 sqft · MultiFamily · 29 Days on market

Built 1930 Fair condition 0.35 ac lot

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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 +3.4/5.0
• 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

Don’t miss this fantastic duplex opportunity offering the perfect blend of homeownership and investment potential. Each unit features 3 bedrooms and 1 full bathroom, providing spacious living accommodations for tenants or owner-occupants alike. Both apartments are currently tenant occupied, making this an excellent income-producing property from day one. Live comfortably in one unit while renting the second apartment to help offset your mortgage payment — truly the best of both worlds! Conveniently located in the village, this property is close to churches, restaurants, and a beautiful playground, making it easy to enjoy neighborhood walks and nearby amenities. Recent updates in

Key facts

• Recent updates
• New bathroom
• Village location

Tags

• DUPLEX OPPORTUNITY
• INCOME PRODUCING PROPERTY
• VILLAGE LOCATION
• RECENT UPDATES
• NEW BATHROOM
• FRESH INTERIOR PAINT

Property features AI

Finance

• Other: Two-unit property with separate gas and electric meters (2 each)
• Financial info: Operating expense details: see remarks; Owner pays: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: One-story building; Resale property
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered porch; Deck

Interior

• Flooring: Laminate; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric baseboard heating
• Interior features: Full basement; Laminate and varied flooring
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $800/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#607 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; Watch: employment C-, health & safety D, amenities F.
• South Jefferson Central School District (rural): math 35% / reading 60% proficiency, ranked #420 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Jefferson County population projected at -12% 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 $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 29 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,201 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 2.00% ✓
• Cap rate: 16.97%
• Cash-on-cash: 38.13%
• DSCR: 2.70
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $27,132
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Spring St	0.29mi	6/3.0	2,592 (+15%)	17mo	$30,000	$12	44

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: 53.7%
• Equity multiple: 4.97×
• Total profit: $199,985
• Equity at exit: $162,068

10-year hold

• IRR: 47.3%
• Equity multiple: 11.10×
• Total profit: $508,857
• Equity at exit: $349,506

Cash invested: $50,372 (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 13605

• Home prices YoY: 12.7%
• Active inventory: 33
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $1,601

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 51%

Sensitivity live

Price	-10% $1,725	-5% $1,663	+0% $1,601	+5% $1,539	+10% $1,476
Rent	-10% $1,316	-5% $1,459	+0% $1,601	+5% $1,743	+10% $1,885
Rate	-1.0pp $1,691	-0.5pp $1,647	base $1,601	+0.5pp $1,554	+1.0pp $1,507

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,600
Total (2 units)			$3,600

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $179,900 Active 29 DOM
2. 2026-06-19
   days on market $179,900 Active 27 DOM
3. 2026-06-18
   days on market $179,900 Active 26 DOM
4. 2026-06-17
   days on market $179,900 Active 25 DOM
5. 2026-06-16
   days on market $179,900 Active 24 DOM
6. 2026-06-15
   days on market $179,900 Active 23 DOM
7. 2026-06-14
   days on market $179,900 Active 21 DOM
8. 2026-06-12
   days on market $179,900 Active 20 DOM
9. 2026-06-09
   days on market $179,900 Active 17 DOM
10. 2026-06-08
    days on market $179,900 Active 16 DOM
11. 2026-06-07
    days on market $179,900 Active 15 DOM
12. 2026-06-05
    days on market $179,900 Active 12 DOM
13. 2026-06-03
    days on market $179,900 Active 11 DOM
14. 2026-06-02
    days on market $179,900 Active 10 DOM
15. 2026-06-01
    days on market $179,900 Active 9 DOM
16. 2026-05-31
    days on market $179,900 Active 8 DOM
17. 2026-05-30
    days on market $179,900 Active 7 DOM
18. 2026-05-22
    listed $195,000 Active

ⓘ 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 10/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $43,200
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − Depreciation: −$5,233
• Taxable income: $17,379
• Est. tax owed @ 24.0%: −$4,171
• After-tax cash flow: $15,038/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 · 1 photo

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its curb appeal and structural integrity, making it a solid investment opportunity.

Repairs flagged

• Moderate Exterior siding — Weathered and needs repainting
• Moderate Roof — Aged and may need replacement
• Moderate Flooring — Worn and may need replacement
• Moderate Paint — Faded and may need repainting

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Re-siding and roof replacement — Improves structural integrity and appearance
• Both Flooring replacement — Enhances living space and reduces maintenance costs
• Both HVAC upgrade — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and needs repainting	Moderate	$3,000–15,000
Roof · Aged and may need replacement	Moderate	$3,000–15,000
Flooring · Worn and may need replacement	Moderate	$3,000–15,000
Paint · Faded and may need repainting	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Re-siding and roof replacement — Improves structural integrity and appearance ↑
• Both Flooring replacement — Enhances living space and reduces maintenance costs ↑
• Both HVAC upgrade — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Jefferson Central School District
• NCES district ID: 3602340
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 60% ▲ 10.00%
• Median HH income: $56,872
• Composite: 41.27/100
• National rank: #3522
• State rank: #420 of 590 in NY

Livability — Adams

• Score: 67/100
• State rank: #607
• US rank: #10970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Adams, NY
• Population (ZIP): 5,106

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 5% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.95%
• Current HPI: 354.8216
• 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

1 event — show timeline

• 2026-05-22 Listed $195,000 CNYIS