53 Stratton Hill Rd

West Chazy, NY 12992

$259,000B+

None bd · None ba · 5,292 sqft · Built 1801 · MultiFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,795/mo
• Mortgage (P&I): −$1,358
• Tax + insurance: −$404
• HOA: −$0
• Vac / Maint / Mgmt: −$1,007
• Net cashflow: $2,026/mo
• Annual: $24,311/yr
• Cap rate: 15.68%
• Cash-on-cash: 33.52%
• DSCR: 2.49
• 1% rule: 1.85%
• Cash to close: $72,520

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $259k.
• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $506/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $259k).
• It's been on market 39 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $251k (3.0% below list) — sets the bar for market timing.
• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (5.1% local appreciation)).
• Location reads 59/100 on livability (#1,017 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment D+, schools D, crime F.
• Chazy Union Free School District (rural): math 72% / reading 65% proficiency, ranked #175 of 755 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1801 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 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.
• Current owner paid $136k; list at $259k implies a 90% gain — meaningful room to come down on a strong offer.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1801 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.