2 Divison St · Keeseville, NY 12944

$35,000

3 bd · 2.0 ba · 2,027 sqft · MultiFamily public records · 302 Days on market

Built 1900 8,712 sqft lot ↓ 44% since listing

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Why this score? — see what drove the D+ 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
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Appreciation +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This is a CASH ONLY sales prospect. The building suffered fire damage and is uninhabitable. Located in the Village of Keeseville and is connected to Village water and sewer. The duplex has separate electrical entrances and was most recently two up/down 2-bedroom, one bath apartments. This is a project for a contractor or a tear down for a new build in a great location. Property sold ''As Is. '' Price is firm.

Key facts

• 8,712 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Annual tax: $522

Exterior

• Parking: Open parking with 4 spaces
• Home design: Duplex residential income property
• Exterior features: 0.2-acre lot

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 91.7% vs local median 5.8% in Keeseville — 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 65/100 on livability (#673 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, schools D-, amenities F.
• Ausable Valley Central School District (rural): math 36% / reading 51% proficiency, ranked #474 of 590 in NY (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 302 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 302 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 9.93% ✓
• Cap rate: 91.74%
• Cash-on-cash: 305.18%
• DSCR: 14.58
• GRM: 0.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 16.63×
• Total profit: $153,125
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 35.49×
• Total profit: $337,980
• Equity at exit: $3,026

Cash invested: $9,800 (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 12944

• Home prices YoY: -1.7%
• Active inventory: 39
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $3,476 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$56 /mo · $667/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $2,492

Break-even live

Break-even rent $321

Max offer price $35,000

Occupancy floor 23%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,476
Total (2 units)			$3,476

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-10-14
   price $35,000
2. 2025-07-31
   listed $30,000 Active
3. 2021-12-02
   soldstatus $240,000
4. 2012-02-10
   soldstatus $62,922

ⓘ 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: $667 · $56/mo
• Projected year-2 tax: $667 · $56/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,712
• − Mortgage interest: −$1,961
• − Property taxes: −$667
• − Insurance: −$175
• − Repairs & maintenance: −$3,337
• − Management: −$3,337
• − Depreciation: −$1,018
• Taxable income: $31,217
• Est. tax owed @ 24.0%: −$7,492
• After-tax cash flow: $22,416/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: Ausable Valley Central School District
• NCES district ID: 3616170
• Math proficiency: 36% ▼ -14.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $50,989
• Composite: 37.43/100
• National rank: #4417
• State rank: #474 of 590 in NY

Livability — Keeseville

• Score: 65/100
• State rank: #673
• US rank: #12604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keeseville, NY
• Population (ZIP): 4,043

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 20% Romanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -3.79%
• Current HPI: 220.0385
• 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

-44.4% since first listed

4 events — show timeline

• 2025-10-14 Price Changed $35,000 ACVMLS
• 2025-07-31 Listed $30,000 ACVMLS
• 2021-12-02 Sold (Public Records) $240,000 Public Records
• 2012-02-10 Sold (Public Records) $62,922 Public Records

Property tax history

-9.7%/yr

Latest (2025): $667 · +28.0% YoY. Source: county tax records.