2338 Miner Farm Rd · Altona, NY 12910

$99,900

1 bd · 1.0 ba · 936 sqft · SingleFamily public records · 30 Days on market

Built 1980 0.65 ac lot Est $95k · 6% over ↓ 20% 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 +12.2/30.0
• Appreciation +10.0/10.0
• Schools +5.3/10.0
• ARV discount +4.9/15.0
• 1% rule +4.1/10.0
• DSCR +3.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

Key facts

• Over half an acre
• Solid bones
• Quiet rural setting

Tags

• OPEN CONCEPT LAYOUT
• QUIET RURAL SETTING
• OVER HALF AN ACRE
• SOLID BONES
• PRIVACY TO SPARE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private well water; Septic tank sewer; Electricity connected with 100 Amp service
• Home design: Single-family residence; One level; Fixer condition
• Construction: Wood siding; Block foundation; Asphalt shingle roof; Built on a 0.65-acre lot (approximately 200' x 141')
• Exterior features: Front porch; Partial chain-link fencing; Level lot; Paved access road; Has a view

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Varies throughout
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Oil-fired heating; No central cooling
• Interior features: Electric oven; Refrigerator; Varied flooring; Full block basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $-21 ($-249/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (9.1% below list).
• Recommended offer: $91k (9.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 51/100 on livability (#1,166 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Northeastern Clinton Central School District (rural): math 63% / reading 63% proficiency, ranked #203 of 590 in NY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northeastern Clinton Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 277 students, 50% FRL).
• Zoned-school proficiency averages 42% at this address vs 63% district-wide (-21 pts) — the specific schools serving this property underperform the Northeastern Clinton Central School District average; the district grade overstates school quality for this exact location.
• Market conditions: 14 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Clinton County population projected at -16% 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $90,796 (9.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $94,536
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2338 Miner Farm Rd	0.00mi	1/1.0	936 (0%)	21mo	$95,000	$101	82

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

Projected returns pro-forma

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

5-year hold

• IRR: 23.7%
• Equity multiple: 2.90×
• Total profit: $53,127
• Equity at exit: $89,998

10-year hold

• IRR: 21.0%
• Equity multiple: 6.63×
• Total profit: $157,577
• Equity at exit: $194,084

Cash invested: $27,972 (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 12910

• Home prices YoY: 4.5%
• Active inventory: 14
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $908 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$173 /mo · $2,071/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $-21

Break-even live

Break-even rent $934

Max offer price $96,227

Occupancy floor 97%

Sensitivity live

Price	-10% $36	-5% $7	+0% $-21	+5% $-49	+10% $-77
Rent	-10% $-93	-5% $-57	+0% $-21	+5% $15	+10% $51
Rate	-1.0pp $30	-0.5pp $5	base $-21	+0.5pp $-47	+1.0pp $-73

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $99,900 Active 30 DOM
2. 2026-06-21
   days on market $99,900 Active 29 DOM
3. 2026-06-18
   days on market $99,900 Active 27 DOM
4. 2026-06-17
   days on market $99,900 Active 26 DOM
5. 2026-06-16
   days on market $99,900 Active 25 DOM
6. 2026-06-15
   days on market $99,900 Active 24 DOM
7. 2026-06-13
   days on market $99,900 Active 22 DOM
8. 2026-06-12
   days on market $99,900 Active 21 DOM
9. 2026-06-09
   days on market $99,900 Active 18 DOM
10. 2026-06-08
    days on market $99,900 Active 17 DOM
11. 2026-06-07
    days on market $99,900 Active 16 DOM
12. 2026-06-07
    days on market $99,900 Active 15 DOM
13. 2026-06-04
    days on market $99,900 Active 12 DOM
14. 2026-06-02
    days on market $99,900 Active 11 DOM
15. 2026-06-01
    days on market $99,900 Active 10 DOM
16. 2026-05-31
    days on market $99,900 Active 9 DOM
17. 2026-05-22
    listed $99,900 Active
18. 2024-09-19
    soldstatus $92,150
19. 2024-09-18
    soldstatus $95,000 Closed 524-char remark

    Show marketing remark (524 chars)

    Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

20. 2024-08-18
    status Pending 524-char remark

    Show marketing remark (524 chars)

    Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

21. 2024-08-15
    price $95,000 524-char remark

    Show marketing remark (524 chars)

    Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

22. 2024-07-30
    price $105,000 524-char remark

    Show marketing remark (524 chars)

    Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

23. 2024-07-23
    listed $125,000 Active 524-char remark

    Show marketing remark (524 chars)

    Discover the possibilities in this 1-bedroom, 1-bath ranch-style home, featuring an attached heated garage. Originally a 2-bedroom home, it offers the option to easily convert it back with the addition of a wall in the current living room area. The oversized eat-in kitchen is great for gathering family and friends together. Recent window updates add to the appeal, with just a bit of trim work needed to complete them. With some TLC, this home can truly shine. Don't miss your chance to customize it to its full potential!

ⓘ 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: $2,071 · $173/mo
• Projected year-2 tax: $2,071 · $173/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $10,896
• − Mortgage interest: −$5,596
• − Property taxes: −$2,071
• − Insurance: −$500
• − Repairs & maintenance: −$872
• − Management: −$872
• − Depreciation: −$2,906
• Taxable loss: −$1,920
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $211/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: Northeastern Clinton Central School District
• NCES district ID: 3621250
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 63% ▲ 6.00%
• Median HH income: $48,921
• Composite: 53.46/100
• National rank: #1461
• State rank: #203 of 590 in NY

Livability — Altona

• Score: 51/100
• State rank: #1166
• US rank: #25387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,994

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Black 5% Asian 2% Two or more races 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 23% Iranian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.23%
• Current HPI: 260.0932
• 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

-20.1% since first listed

7 events — show timeline

• 2026-05-22 Listed $99,900 ACVMLS
• 2024-09-19 Sold (Public Records) $92,150 Public Records
• 2024-09-18 Sold (MLS) $95,000 ACVMLS
• 2024-08-18 Pending — ACVMLS
• 2024-08-15 Price Changed $95,000 ACVMLS
• 2024-07-30 Price Changed $105,000 ACVMLS
• 2024-07-23 Listed $125,000 ACVMLS

Property tax history

+5.1%/yr

Latest (2025): $2,071 · -1.3% YoY. Source: county tax records.