169 Pleasant St

Keeseville, NY 12944

$62,999A-

2 bd · 1.0 ba · 806 sqft · Built 1950 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,654/mo
• Mortgage (P&I): −$330
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $801/mo
• Annual: $9,607/yr
• Cap rate: 21.54%
• Cash-on-cash: 54.46%
• DSCR: 3.42
• 1% rule: 2.63%
• Cash to close: $17,640

Investor read

• This is a 2-bed/1.0-bath single-family listed at $63k.
• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• It's been on market 56 days — a 3% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $435 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#673 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, amenities F, commute F.
• Ausable Valley Central School District (rural): math 36% / reading 51% proficiency, ranked #474 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Keeseville Primary School (math 17% / reading 57%, grade F, #1,519 of 2,108 statewide, top 74%, 413 students, 0% FRL); Ausable Valley Middle School (math 22% / reading 47%, grade F, #483 of 729 statewide, top 68%, 193 students, 54% FRL); Ausable Valley High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 351 students, 50% FRL) — zoned schools at 35% FRL track the district average.
• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 21.5% vs local median 5.1% in Keeseville — 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.

Questions for listing agent

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.