566 E Main St · Malone, NY 12953

$159,000

None bd · None ba · 1,711 sqft · MultiFamily · 402 Days on market

Built 1930 Good condition $93/sqft · 6% above area Est $149k · 6% over ↓ 8% since listing

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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 +23.6/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• 1% rule +6.1/10.0
• ARV discount +4.6/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +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: 1 unit. estimate disagrees with records

Listing remarks MLS

This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

Key facts

• Covered porch
• Covered deck
• Office space

Tags

• OFFICE SPACE
• CONFERENCE ROOM
• COVERED PORCH
• COVERED DECK
• KITCHEN EQUIPPED
• OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a multifamily listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: schools D+, employment D+, crime D-.
• 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.
• Market conditions: 114 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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 402 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 402 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.11% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.07%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (median comp): $149,379
• List price: $159,000
• Delta: 6.44%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Howard Ave. Ave	0.20mi	—/—	1,530 (-11%)	18mo	$125,000	$82	58

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: 30.2%
• Equity multiple: 3.37×
• Total profit: $105,697
• Equity at exit: $143,240

10-year hold

• IRR: 26.1%
• Equity multiple: 7.66×
• Total profit: $296,313
• Equity at exit: $308,902

Cash invested: $44,520 (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: 114
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $1,770 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $299

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 78%

Sensitivity live

Price	-10% $409	-5% $354	+0% $299	+5% $245	+10% $190
Rent	-10% $160	-5% $230	+0% $299	+5% $369	+10% $439
Rate	-1.0pp $380	-0.5pp $340	base $299	+0.5pp $258	+1.0pp $216

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$898
1× unit	0	0	$872
Total (2 units)			$1,770

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $159,000 Active 402 DOM
2. 2026-06-18
   days on market $159,000 Active 400 DOM
3. 2026-06-17
   days on market $159,000 Active 399 DOM
4. 2026-06-16
   days on market $159,000 Active 398 DOM
5. 2026-06-15
   days on market $159,000 Active 397 DOM
6. 2026-06-13
   days on market $159,000 Active 395 DOM
7. 2026-06-12
   days on market $159,000 Active 394 DOM
8. 2026-06-09
   days on market $159,000 Active 391 DOM
9. 2026-06-08
   days on market $159,000 Active 390 DOM
10. 2026-06-07
    days on market $159,000 Active 389 DOM
11. 2026-06-07
    days on market $159,000 Active 388 DOM
12. 2026-06-04
    days on market $159,000 Active 385 DOM
13. 2026-06-02
    days on market $159,000 Active 384 DOM
14. 2026-06-01
    days on market $159,000 Active 383 DOM
15. 2026-05-31
    days on market $159,000 Active 382 DOM
16. 2026-04-22
    status Active 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

17. 2026-04-22
    price $159,000 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

18. 2026-04-05
    historical 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

19. 2026-01-01
    price $165,000 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

20. 2025-11-14
    status Active 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

21. 2025-07-25
    status Pending 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

22. 2025-01-04
    listed $172,500 Active 625-char remark

    Show marketing remark (625 chars)

    This unique property is located on Main St. and offers versatile usage with both office and residential space. Main Floor:Office space with the potential for 3 to 4 offices, conference room ideal for meetings, convenient half bath and covered porch in the front. Second Floor:A comfortable apartment featuring: Covered deck for outdoor relaxation, kitchen equipped for meal preparation & dining, Cozy living room, 2 bedrooms and 1 full bathroom. An oversized 2 bay garage provides extra space or storage options. This property is perfect for someone looking to combine work and living spaces in one convenient location.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,240
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − Depreciation: −$4,625
• Taxable income: $1,130
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $3,323/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 · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates needed. It offers versatile usage with office and residential space, making it ideal for someone looking to combine work and living spaces.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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: 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

-7.8% since first listed

7 events — show timeline

• 2026-04-22 Relisted — ACVMLS
• 2026-04-22 Price Changed $159,000 ACVMLS
• 2026-04-05 Delisted — ACVMLS
• 2026-01-01 Price Changed $165,000 ACVMLS
• 2025-11-14 Relisted — ACVMLS
• 2025-07-25 Pending — ACVMLS
• 2025-01-04 Listed $172,500 ACVMLS