102 Ft. Covington St · Malone, NY 12953

$19,000

4 bd · 2.5 ba · 2,406 sqft · SingleFamily public records · 223 Days on market

Built 1840 1.05 ac lot $8/sqft · 89% below area ↓ 36% 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

Key facts

• 1.05 acre lot
• 2 garage spots
• Built 1840

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.
• Cap rate 56.0% 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: 115 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 $2k of equity ($131 loan paydown + $2k 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $16,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 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 1840 — 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 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: 6.12% ✓
• Cap rate: 55.97%
• Cash-on-cash: 177.42%
• DSCR: 8.89
• GRM: 1.4

CMA / ARV

• ARV (median comp): $174,378
• List price: $19,000
• Delta: -89.10%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Amsden Street St	0.37mi	5/2.5 (+1)	2,242 (-7%)	4mo	$110,000	$49	63
15 Pierrepont Ave	0.74mi	4/2.5	2,330 (-3%)	5mo	$189,000	$81	56
21 Park St	0.65mi	4/1.5	2,343 (-3%)	8mo	$183,000	$78	55
4 Fifth St. St	0.64mi	3/3.0 (-1)	2,574 (+7%)	9mo	$335,000	$130	44
103 Finney Blvd Blvd	0.67mi	5/2.0 (+1)	2,128 (-12%)	18mo	$256,520	$121	27
16 Washington Street St	0.75mi	5/3.0 (+1)	2,680 (+11%)	15mo	$182,000	$68	27

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: —
• Equity multiple: 12.37×
• Total profit: $60,462
• Equity at exit: $17,117

10-year hold

• IRR: —
• Equity multiple: 27.07×
• Total profit: $138,690
• Equity at exit: $36,913

Cash invested: $5,320 (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: 115
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,162 medium
• Mortgage (P&I): −$100
• Tax est. 1.5%: −$24 /mo · $285/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $787

Break-even live

Break-even rent $166

Max offer price $19,000

Occupancy floor 27%

Sensitivity live

Price	-10% $800	-5% $793	+0% $787	+5% $780	+10% $773
Rent	-10% $695	-5% $741	+0% $787	+5% $832	+10% $878
Rate	-1.0pp $796	-0.5pp $791	base $787	+0.5pp $782	+1.0pp $777

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $19,000 Active 223 DOM
2. 2026-06-21
   days on market $19,000 Active 222 DOM
3. 2026-06-18
   days on market $19,000 Active 220 DOM
4. 2026-06-17
   days on market $19,000 Active 219 DOM
5. 2026-06-16
   days on market $19,000 Active 218 DOM
6. 2026-06-15
   days on market $19,000 Active 217 DOM
7. 2026-06-13
   days on market $19,000 Active 215 DOM
8. 2026-06-12
   days on market $19,000 Active 214 DOM
9. 2026-06-09
   days on market $19,000 Active 211 DOM
10. 2026-06-08
    days on market $19,000 Active 210 DOM
11. 2026-06-07
    days on market $19,000 Active 209 DOM
12. 2026-06-07
    days on market $19,000 Active 208 DOM
13. 2026-06-04
    days on market $19,000 Active 205 DOM
14. 2026-06-02
    days on market $19,000 Active 204 DOM
15. 2026-06-01
    days on market $19,000 Active 203 DOM
16. 2026-05-31
    days on market $19,000 Active 202 DOM
17. 2026-04-24
    status Active 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

18. 2026-04-24
    price $19,000 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

19. 2026-02-24
    status Pending 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

20. 2026-02-04
    price $19,900 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

21. 2026-01-23
    price $22,000 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

22. 2025-12-04
    price $27,000 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

23. 2025-09-11
    listed $29,500 Active 366-char remark

    Show marketing remark (366 chars)

    This historic house in the Village of Malone would make a great winter project for a do-it-yourselfer or flipper. The home is structurally sound but has fire and smoke damage. The original configuration was a 5-bedroom house with 1-bedroom apartment. Boiler is approximately 5 yrs old. There is a large, carriage style garage. Property is being sold as-is, where is.

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,942
• − Mortgage interest: −$1,064
• − Property taxes: −$285
• − Insurance: −$95
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$553
• Taxable income: $9,715
• Est. tax owed @ 24.0%: −$2,331
• After-tax cash flow: $7,107/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: 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

-35.6% since first listed

7 events — show timeline

• 2026-04-24 Relisted — ACVMLS
• 2026-04-24 Price Changed $19,000 ACVMLS
• 2026-02-24 Pending — ACVMLS
• 2026-02-04 Price Changed $19,900 ACVMLS
• 2026-01-23 Price Changed $22,000 ACVMLS
• 2025-12-04 Price Changed $27,000 ACVMLS
• 2025-09-11 Listed $29,500 ACVMLS

Property tax history

+2.1%/yr

Latest (2025): $3,473 · -0.7% YoY. Source: county tax records.