119 Cornelia St · Plattsburgh, NY 12901

$135,000

3 bd · 2.0 ba · 1,130 sqft · SingleFamily public records · 48 Days on market

Built 1876 4,356 sqft lot $119/sqft · 31% below area Est $196k · 31% under

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Why this score? — see what drove the C 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 +17.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.8/10.0
• DSCR +5.4/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This cute city is conveniently located near downtown Plattsburgh and local amenities. Unusual for a home this age, it features a full bath on both floors and a first level bedroom. Private fenced in back yard. With a little TLC, this home will shine again. Pre-qualified buyers only for showings.

Key facts

• First level bedroom
• 4,356 sq ft lot
• 2 parking spots

Tags

• FULL BATH ON BOTH FLOORS
• FIRST LEVEL BEDROOM
• PRIVATE FENCED IN BACK YARD

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Open parking with 2 spaces
• Utilities: Public water; Public sewer; 100 Amp electric service; Cable available; Water connected; Sewer connected
• Home design: Single-family residence; Two levels / 2 stories
• Construction: Brick construction; Stone foundation; Built on two levels
• Exterior features: Metal roof; Lot approximately 0.1 acre (46 x 90)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Electric heating; No cooling
• Interior features: Electric range and refrigerator; Crawl space basement; 5 total rooms
• Laundry & utility: No separate laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.8% in Plattsburgh — 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 75/100 on livability (#262 in NY, #4,134 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, employment D+, crime F.
• Plattsburgh City School District (town): math 33% / reading 55% proficiency, ranked #484 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 176 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1876 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• GRM: 7.7

CMA / ARV

• ARV (median comp): $195,948
• List price: $135,000
• Delta: -31.10%
• 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
21 Montcalm Ave	0.09mi	3/—	1,140 (+1%)	2mo	$42,000	$37	93
14 Champlain Street St	0.11mi	3/2.0	1,233 (+9%)	2mo	$85,000	$69	78
111 Cornelia Street St	0.03mi	3/2.0	1,245 (+10%)	9mo	$110,000	$88	74
98 Champlain Street St	0.39mi	3/2.0	1,166 (+3%)	10mo	$227,900	$195	68
75 Champlain St	0.31mi	3/1.5	1,205 (+7%)	11mo	$147,340	$122	63
64 Elm St	0.19mi	2/1.0 (-1)	1,224 (+8%)	7mo	$225,000	$184	62
35 Palmer St	0.34mi	2/1.0 (-1)	1,106 (-2%)	12mo	$210,000	$190	61
7 Saranac St	0.56mi	2/2.0 (-1)	1,112 (-2%)	7mo	$112,000	$101	60
1 Oliver Ct	0.54mi	3/1.0	1,186 (+5%)	3mo	$220,000	$185	60
81 Lafayfayette	0.33mi	2/1.0 (-1)	1,055 (-7%)	6mo	$170,000	$161	60
88 Pine Street St	0.71mi	2/1.5 (-1)	1,169 (+4%)	6mo	$156,955	$134	49
5247 N North Catherine St	0.38mi	4/1.0 (+1)	1,260 (+12%)	10mo	$229,900	$182	46

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

Projected returns pro-forma

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

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-15,306
• Equity at exit: $20,129

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-4,615
• Equity at exit: $11,672

Cash invested: $37,800 (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 12901

• Home prices YoY: -22.5%
• Active inventory: 176
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$282 /mo · $3,381/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $102

Break-even live

Break-even rent $1,324

Max offer price $135,000

Occupancy floor 88%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5061 S Catherine St Plattsburgh, NY	2.0	1.0	850	$1,400	$1.65	21d	1	0.46mi
43 Hamilton St Plattsburgh, NY	1.0–2.0	1.0	800	$1,550	$1.94	21d	2	0.79mi

Listing history 17 events

1. 2026-06-18
   days on market $135,000 Active 48 DOM
2. 2026-06-17
   days on market $135,000 Active 47 DOM
3. 2026-06-16
   days on market $135,000 Active 46 DOM
4. 2026-06-15
   days on market $135,000 Active 45 DOM
5. 2026-06-13
   days on market $135,000 Active 43 DOM
6. 2026-06-12
   days on market $135,000 Active 42 DOM
7. 2026-06-09
   days on market $135,000 Active 39 DOM
8. 2026-06-08
   days on market $135,000 Active 38 DOM
9. 2026-06-07
   days on market $135,000 Active 37 DOM
10. 2026-06-07
    days on market $135,000 Active 36 DOM
11. 2026-06-04
    days on market $135,000 Active 33 DOM
12. 2026-06-02
    days on market $135,000 Active 32 DOM
13. 2026-06-01
    days on market $135,000 Active 31 DOM
14. 2026-05-31
    days on market $135,000 Active 30 DOM
15. 2026-05-01
    listed $135,000 Active 296-char remark
16. 2008-04-25
    soldstatus $75,000
17. 2001-02-12
    soldstatus $46,000

ⓘ 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: $3,381 · $282/mo
• Projected year-2 tax: $3,381 · $282/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,434
• − Mortgage interest: −$7,562
• − Property taxes: −$3,381
• − Insurance: −$675
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$3,927
• Taxable loss: −$902
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $1,437/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: Plattsburgh City School District
• NCES district ID: 3623280
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $38,322
• Composite: 36.61/100
• National rank: #4626
• State rank: #484 of 590 in NY

Livability — Plattsburgh

• Score: 75/100
• State rank: #262
• US rank: #4134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plattsburgh, NY
• Population (ZIP): 32,012

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3% Asian 3%
• Common ancestry: Lithuanian 15% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -73.55%
• Current HPI: 252.8692
• 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

+193.5% since first listed

3 events — show timeline

• 2026-05-01 Listed $135,000 ACVMLS
• 2008-04-25 Sold (Public Records) $75,000 Public Records
• 2001-02-12 Sold (Public Records) $46,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $3,381 · +5.6% YoY. Source: county tax records.