73 Mccrea St · Fort Edward, NY 12828

$45,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 6 Days on market

Built 1900 4,356 sqft lot $52/sqft · 77% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

3-bedroom, 1-bath home on a slab foundation, ready for your renovation vision. Conveniently located within walking distance to the local school. A solid opportunity for investors--this property has great potential as a rental addition to your portfolio. CASH BUYERS ONLY, ASSIGNMENT OF CONTRACT.

Key facts

• Slab foundation
• 4,356 sq ft lot
• 3 parking spots

Tags

• SLAB FOUNDATION

Property features AI

Exterior

• Parking: Off-street parking for three vehicles
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Living area reported
• Construction: Construction materials listed as 'Other' (unspecified)
• Exterior features: Slate roof; Exterior features listed as 'Other' (unspecified)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Three bedrooms on the second floor
• Bathrooms: One full bathroom (located on the first floor)
• Heating & cooling: Natural gas heating; Space heater; Cooling present (unspecified type)
• Interior features: Seven total rooms; Living room on the first floor; Dining room on the first floor; Additional first-floor room (unspecified)
• Laundry & utility: Laundry described as 'Other' (unspecified)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 21.3% vs local median 4.0% in Fort Edward — 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 73/100 on livability (#334 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D+, commute D+, employment D.
• Fort Edward Union Free School District (suburban): math 50% / reading 45% proficiency, ranked #512 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($311 loan paydown + $3k appreciation (6.1% local appreciation)).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $45,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.46% ✓
• Cap rate: 21.30%
• Cash-on-cash: 53.59%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

• ARV (median comp): $198,348
• List price: $45,000
• Delta: -77.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Frank St	0.17mi	2/1.0 (-1)	832 (-4%)	8mo	$94,185	$113	74

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

Projected returns pro-forma

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.2%
• Equity multiple: 4.89×
• Total profit: $49,058
• Equity at exit: $28,510

10-year hold

• IRR: 59.0%
• Equity multiple: 10.22×
• Total profit: $116,215
• Equity at exit: $51,893

Cash invested: $12,600 (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 12828

• Home prices YoY: 1.9%
• Active inventory: 44
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $563

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $594	-5% $578	+0% $563	+5% $547	+10% $532
Rent	-10% $475	-5% $519	+0% $563	+5% $606	+10% $650
Rate	-1.0pp $585	-0.5pp $574	base $563	+0.5pp $551	+1.0pp $539

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-03
   status Pending 298-char remark
2. 2026-04-27
   listed $45,000 Active 298-char remark

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $13,272
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$1,309
• Taxable income: $6,418
• Est. tax owed @ 24.0%: −$1,540
• After-tax cash flow: $5,212/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: Fort Edward Union Free School District
• NCES district ID: 3611310
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $49,124
• Composite: 42.76/100
• National rank: #6771
• State rank: #512 of 755 in NY

Livability — Fort Edward

• Score: 73/100
• State rank: #334
• US rank: #5647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Edward, NY
• Population (ZIP): 9,775

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.08%
• Current HPI: 327.6439
• 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

2 events — show timeline

• 2026-05-03 Pending — Global MLS
• 2026-04-27 Listed $45,000 Global MLS

Property tax history

+3.2%/yr

Latest (2025): $3,030 · +9.3% YoY. Source: county tax records.