49 Front St · Malone, NY 12953

$59,500

5 bd · 2.0 ba · 1,395 sqft · MultiFamily public records · 55 Days on market

Built 1880 3,484 sqft lot $43/sqft · 41% below area Est $100k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

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

Listing remarks

Come see this 2-family rental with upstairs and downstairs units. Both apartments have been remodeled to include new hickory cabinets. Newer flooring and remodeled interior. Upstairs in monitor heat and downstairs is forced warm air. Tenants pay heat and lights. Rents are low. Enclosed porch and attached carport.

Key facts

• Remodeled interior
• Newer flooring
• Attached carport

Tags

• HICKORY CABINETS
• NEWER FLOORING
• REMODELED INTERIOR
• ENCLOSED PORCH
• ATTACHED CARPORT

Property features AI

Exterior

• Parking: Open paved parking
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available
• Home design: Duplex residential income property; Two stories; Updated/remodeled condition
• Construction: Vinyl siding; Stone foundation; Metal roof; Built as a duplex
• Exterior features: Enclosed porch; Porch; Paved lot/drive

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Heating & cooling: No central cooling
• Interior features: Updated/remodeled interior; Electric range, microwave, refrigerator
• Laundry & utility: No laundry facilities listed

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive. Per door: $423/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.4% 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: employment D+, crime D-, amenities F.
• 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.
• Zoned schools: Davis Elementary School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 563 students, 50% FRL); Malone Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 500 students, 52% FRL); Franklin Academy High School (math 82% / reading 70%, grade A-, #623 of 1,100 statewide, top 57%, 719 students, 47% FRL).
• 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 $6k of equity ($411 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $60k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,715 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.69% ✓
• Cap rate: 23.36%
• Cash-on-cash: 60.94%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (median comp): $100,142
• List price: $59,500
• Delta: -40.58%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.0%
• Equity multiple: 6.18×
• Total profit: $86,319
• Equity at exit: $53,602

10-year hold

• IRR: 66.9%
• Equity multiple: 13.72×
• Total profit: $211,876
• Equity at exit: $115,595

Cash invested: $16,660 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $846

Break-even live

Break-even rent $529

Max offer price $59,500

Occupancy floor 42%

Sensitivity live

Price	-10% $880	-5% $863	+0% $846	+5% $829	+10% $812
Rent	-10% $720	-5% $783	+0% $846	+5% $909	+10% $972
Rate	-1.0pp $876	-0.5pp $861	base $846	+0.5pp $831	+1.0pp $815

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,600
Total (2 units)			$1,600

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $59,500 Active 55 DOM
2. 2026-06-21
   days on market $59,500 Active 54 DOM
3. 2026-06-18
   days on market $59,500 Active 52 DOM
4. 2026-06-17
   days on market $59,500 Active 51 DOM
5. 2026-06-16
   days on market $59,500 Active 50 DOM
6. 2026-06-15
   days on market $59,500 Active 49 DOM
7. 2026-06-13
   days on market $59,500 Active 47 DOM
8. 2026-06-12
   days on market $59,500 Active 46 DOM
9. 2026-06-09
   days on market $59,500 Active 43 DOM
10. 2026-06-08
    days on market $59,500 Active 42 DOM
11. 2026-06-07
    days on market $59,500 Active 41 DOM
12. 2026-06-07
    days on market $59,500 Active 40 DOM
13. 2026-06-04
    days on market $59,500 Active 37 DOM
14. 2026-06-02
    days on market $59,500 Active 36 DOM
15. 2026-06-01
    days on market $59,500 Active 35 DOM
16. 2026-05-31
    days on market $59,500 Active 34 DOM
17. 2026-04-24
    listed $59,500 Active 314-char remark
18. 2015-11-19
    soldstatus $30,000
19. 1995-03-17
    soldstatus $20,000

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $990 · $82/mo
• Expected delta: +$16/yr (+$1/mo · 1.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 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: $19,200
• − Mortgage interest: −$3,333
• − Property taxes: −$974
• − Insurance: −$298
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$1,731
• Taxable income: $9,793
• Est. tax owed @ 24.0%: −$2,350
• After-tax cash flow: $7,802/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

+197.5% since first listed

3 events — show timeline

• 2026-04-24 Listed $59,500 ACVMLS
• 2015-11-19 Sold (Public Records) $30,000 Public Records
• 1995-03-17 Sold (Public Records) $20,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $974 · -0.7% YoY. Source: county tax records.