3098 Broad St · Port Henry, NY 12974

$125,000

4 bd · 1.0 ba · 1,498 sqft · SingleFamily public records · 656 Days on market

Built 1860 2.90 ac lot $83/sqft · 23% below area Est $163k · 23% under

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Why this score? — see what drove the A- 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Appreciation +7.7/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

Key facts

• 2.9 acre lot
• Garage
• Built 1860

Tags

• LARGE BARN FOR STORAGE
• NEXT TO MORIAH COUNTRY CLUB

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.7% in Port Henry — 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 76/100 on livability (#226 in NY, #3,576 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Moriah Central School District (rural): math 41% / reading 52% proficiency, ranked #445 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.5% local appreciation)).
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 656 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $125k implies a 1151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 656 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 1860 — 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. 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: 1.31% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.80%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

• ARV (median comp): $163,383
• List price: $125,000
• Delta: -23.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 2nd Ln	0.57mi	3/2.0 (-1)	1,494 (-0%)	4mo	$159,500	$107	60
49 Brook St	0.70mi	4/1.0	1,500 (+0%)	11mo	$274,900	$183	58
9 Meacham St	0.66mi	3/2.0 (-1)	1,560 (+4%)	3mo	$205,000	$131	51
46 Brook St	0.67mi	4/1.0	1,680 (+12%)	1mo	$89,900	$54	47
27 Elizabeth St	0.65mi	3/2.0 (-1)	1,522 (+2%)	14mo	$150,000	$99	46
110 Stone St	0.51mi	3/2.0 (-1)	1,344 (-10%)	8mo	$110,000	$82	44
15 Waldo Pl	0.71mi	3/1.0 (-1)	1,360 (-9%)	20mo	$113,300	$83	30
9 Waldo Pl	0.67mi	3/1.5 (-1)	1,287 (-14%)	11mo	$150,000	$117	30

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

Projected returns pro-forma

5.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.70×
• Total profit: $59,535
• Equity at exit: $74,250

10-year hold

• IRR: 25.3%
• Equity multiple: 5.42×
• Total profit: $154,856
• Equity at exit: $131,061

Cash invested: $35,000 (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 12974

• Home prices YoY: 1.6%
• Active inventory: 23
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $432

Break-even live

Break-even rent $1,091

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $502	-5% $467	+0% $432	+5% $396	+10% $361
Rent	-10% $302	-5% $367	+0% $432	+5% $496	+10% $561
Rate	-1.0pp $495	-0.5pp $463	base $432	+0.5pp $399	+1.0pp $366

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $125,000 Active 656 DOM
2. 2026-06-18
   days on market $125,000 Active 654 DOM
3. 2026-06-17
   days on market $125,000 Active 653 DOM
4. 2026-06-16
   days on market $125,000 Active 652 DOM
5. 2026-06-15
   days on market $125,000 Active 651 DOM
6. 2026-06-13
   days on market $125,000 Active 649 DOM
7. 2026-06-12
   days on market $125,000 Active 648 DOM
8. 2026-06-09
   days on market $125,000 Active 645 DOM
9. 2026-06-08
   days on market $125,000 Active 644 DOM
10. 2026-06-07
    days on market $125,000 Active 643 DOM
11. 2026-06-05
    days on market $125,000 Active 641 DOM
12. 2026-06-04
    days on market $125,000 Active 639 DOM
13. 2026-06-02
    days on market $125,000 Active 638 DOM
14. 2026-06-01
    days on market $125,000 Active 637 DOM
15. 2026-05-31
    days on market $125,000 Active 636 DOM
16. 2026-04-09
    price $125,000 718-char remark

    Show marketing remark (718 chars)

    Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

17. 2025-12-30
    price $145,000 718-char remark

    Show marketing remark (718 chars)

    Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

18. 2025-06-19
    price $160,000 718-char remark

    Show marketing remark (718 chars)

    Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

19. 2025-04-30
    price $180,000 718-char remark

    Show marketing remark (718 chars)

    Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

20. 2024-09-02
    listed $250,000 Active 718-char remark

    Show marketing remark (718 chars)

    Attention to investors looking for the next project. This home is in the perfect location and location is everything when it comes to this home sitting on 2.90 acres next to the Moriah Country Club and gulf course with the Moriah Central School within walking distance. Plenty of back yard to play in with a brook and a large barn for storage. The downstairs consists of a kitchen area, laundry room, foyer, living room, 1 full bath, bedroom and the upstairs consists of two bedrooms and a half bath started. The large master bedroom has perfect views of the front yard through the large windows. If your energetic, love putting your own ideas in a project home, this one is for you. Being sold as is! Crypto accepted.

21. 2017-08-16
    soldstatus $9,989
22. 1994-12-14
    soldstatus $48,900

ⓘ 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: $1,851 · $154/mo
• Projected year-2 tax: $1,982 · $165/mo
• Expected delta: +$131/yr (+$11/mo · 7.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,648
• − Mortgage interest: −$7,002
• − Property taxes: −$1,851
• − Insurance: −$625
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$3,636
• Taxable income: $3,390
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $4,366/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: Moriah Central School District
• NCES district ID: 3619830
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $46,940
• Composite: 39.55/100
• National rank: #3937
• State rank: #445 of 590 in NY

Livability — Port Henry

• Score: 76/100
• State rank: #226
• US rank: #3576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Henry, NY
• Population (ZIP): 1,545

Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 20% Romanian 12% Italian 6%
• Foreign-born: 2% · Canada, China
• Languages at home: 88% English-only · French/Haitian/Cajun 6% Spanish 2% Other Asian/Pacific 2%

Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.45%
• Current HPI: 342.6175
• 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

+155.6% since first listed

7 events — show timeline

• 2026-04-09 Price Changed $125,000 Global MLS
• 2025-12-30 Price Changed $145,000 Global MLS
• 2025-06-19 Price Changed $160,000 Global MLS
• 2025-04-30 Price Changed $180,000 Global MLS
• 2024-09-02 Listed $250,000 Global MLS
• 2017-08-16 Sold (Public Records) $9,989 Public Records
• 1994-12-14 Sold (Public Records) $48,900 Public Records

Property tax history

-7.5%/yr

Latest (2025): $1,851 · -13.2% YoY. Source: county tax records.