1584 County Road 28 · Waddington, NY 13658

$110,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 10 Days on market

Built 1900 0.44 ac lot

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Why this score? — see what drove the C+ 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 +21.0/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +6.3/10.0
• Schools +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Classic 1900 Farmhouse with Space & Potential – Lisbon School District! Opportunity awaits with this 3-bedroom, 2-bath farmhouse situated on a 77’ x 248’ lot in the Lisbon School District. This home offers a traditional layout with generous room sizes and plenty of character reflective of its era. The property features an attached area for added storage or workspace, along with a spacious yard that provides room to expand, garden, or simply enjoy country-style living. While the home does need some updates and repairs, it presents a great opportunity for buyers looking to build equity, invest, or restore a classic farmhouse to its full potential. Conveniently located

Key facts

• Spacious yard
• 0.44 acre lot
• Built 1900

Tags

• ATTACHED AREA FOR STORAGE
• SPACIOUS YARD
• EASY ACCESS TO NEARBY TOWNS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 59/100 on livability (#1,011 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety C-, schools F.
• Lisbon Central School District (rural): math 33% / reading 52% proficiency, ranked #482 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($761 loan paydown + $6k appreciation (5.8% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $62k; list at $110k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $110,000

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 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. Crime grade is F 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?
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: 1.13% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.30×
• Total profit: $40,146
• Equity at exit: $67,486

10-year hold

• IRR: 19.3%
• Equity multiple: 4.60×
• Total profit: $110,890
• Equity at exit: $120,971

Cash invested: $30,800 (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 13658

• Home prices YoY: 1.9%
• Active inventory: 13
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$200 /mo · $2,405/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $155

Break-even live

Break-even rent $1,042

Max offer price $110,000

Occupancy floor 82%

Sensitivity live

Price	-10% $218	-5% $186	+0% $155	+5% $124	+10% $93
Rent	-10% $58	-5% $106	+0% $155	+5% $204	+10% $253
Rate	-1.0pp $211	-0.5pp $183	base $155	+0.5pp $127	+1.0pp $98

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-25
   status Pending
2. 2026-04-16
   listed $110,000 Active
3. 2020-10-15
   soldstatus $61,500
4. 2002-12-31
   soldstatus $55,000

ⓘ 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: $2,405 · $200/mo
• Projected year-2 tax: $2,405 · $200/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,863
• − Mortgage interest: −$6,162
• − Property taxes: −$2,405
• − Insurance: −$550
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$3,200
• Taxable income: $168
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $1,824/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: Lisbon Central School District
• NCES district ID: 3617430
• Math proficiency: 33% ▼ -18.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $53,098
• Composite: 36.79/100
• National rank: #4569
• State rank: #482 of 590 in NY

Livability — Waddington

• Score: 59/100
• State rank: #1011
• US rank: #19695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,028

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 6% Slovak 5% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.76%
• Current HPI: 313.0003
• 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

+100.0% since first listed

4 events — show timeline

• 2026-04-25 Pending — SLCMLS
• 2026-04-16 Listed $110,000 SLCMLS
• 2020-10-15 Sold (Public Records) $61,500 Public Records
• 2002-12-31 Sold (Public Records) $55,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,405 · +1.1% YoY. Source: county tax records.