7196 Irish Settlement Rd · White Lake, NY 13338

$58,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 5 Days on market

Built 1960 0.26 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 +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits in the heart of Forestport! This 2-bedroom, 1-bath camp is ready for a complete renovation and offers the perfect chance to create your own Adirondack getaway, seasonal retreat, or investment property. The interior has been gutted, providing a blank canvas for your vision. Situated on a year-round road for easy access in every season, the property enjoys a desirable location just minutes from popular Adirondack lakes, boating, fishing, hiking, snowmobile trails, and other outdoor recreation. Conveniently located approximately 20 minutes from Utica, you'll enjoy the balance of a peaceful North Country setting with easy access to shopping, dining, and everyday amenities. Br

Key facts

• Complete renovation
• Desirable location
• 0.26 acre lot

Tags

• COMPLETE RENOVATION
• DESIRABLE LOCATION
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Other: Property sold as resale; listed as fixer

Exterior

• Parking: No garage
• Utilities: Public water connected; Septic tank
• Home design: Single-story property; Vinyl siding
• Construction: Block foundation; Vinyl siding construction; Existing structure (year built: existing)
• Exterior features: Gravel driveway; Rectangular, rural lot (approx. 0.26 acres; 50 x 112)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Propane heating; Wall furnace
• Interior features: Eat-in kitchen; Pull-down attic stairs; Storage
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Cap rate 25.5% vs local median 1.7% in White Lake — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Adirondack Central School District (rural): math 41% / reading 54% proficiency, ranked #426 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($401 loan paydown + $5k appreciation (7.9% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $58,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.90% ✓
• Cap rate: 25.48%
• Cash-on-cash: 68.53%
• DSCR: 4.05
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $173,808
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7214 Irish Settlement Rd	0.08mi	2/1.0	750 (-8%)	6mo	$160,000	$213	78

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

Projected returns pro-forma

7.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.7%
• Equity multiple: 6.08×
• Total profit: $82,514
• Equity at exit: $43,558

10-year hold

• IRR: 73.5%
• Equity multiple: 13.04×
• Total profit: $195,558
• Equity at exit: $85,985

Cash invested: $16,240 (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 13338

• Home prices YoY: 1.7%
• Active inventory: 40
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $927

Break-even live

Break-even rent $509

Max offer price $58,000

Occupancy floor 40%

Sensitivity live

Price	-10% $960	-5% $944	+0% $927	+5% $911	+10% $895
Rent	-10% $795	-5% $861	+0% $927	+5% $994	+10% $1,060
Rate	-1.0pp $957	-0.5pp $942	base $927	+0.5pp $912	+1.0pp $897

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $58,000 Active 5 DOM
2. 2026-06-18
   days on market $58,000 Active 3 DOM
3. 2026-06-17
   days on market $58,000 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   listed $58,000 Active 1 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: $882 · $74/mo
• Projected year-2 tax: $931 · $78/mo
• Expected delta: +$49/yr (+$4/mo · 5.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,192
• − Mortgage interest: −$3,249
• − Property taxes: −$882
• − Insurance: −$290
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$1,687
• Taxable income: $10,853
• Est. tax owed @ 24.0%: −$2,605
• After-tax cash flow: $8,525/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: Adirondack Central School District
• NCES district ID: 3605040
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,343
• Composite: 40.7/100
• National rank: #3669
• State rank: #426 of 590 in NY

Livability — White Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,293

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 9% Lithuanian 6% Subsaharan African 5%
• Foreign-born: 4% · China
• Languages at home: 93% English-only · Russian/Polish/Slavic 5% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.87%
• Current HPI: 470.5822
• 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

• 2026-06-15 Listed $58,000 CNYIS

Property tax history

+15.8%/yr

Latest (2025): $882 · +6.7% YoY. Source: county tax records.