32 River St · Morrisonville, NY 12962

$75,000

3 bd · 2.0 ba · 1,550 sqft · SingleFamily public records · 36 Days on market

Built 1850 1.10 ac lot

---

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
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0

Listing remarks

Good sturdy home, needs TLC! Be the one who brings this home back to its former glory, The main floor has a large kitchen, dinning room, and living room with lots of charm, with one full bathroom on the main floor. Upstairs there are 3 large bedrooms and another full bathroom (with claw foot tub). The home has a full stone basement that you can stand up in making it easy to access all of the utilities, and full barn out back that could be used as storage. The home has a large front porch that could be brought back to life and would make a nice place to enjoy morning coffee! The backyard is quiet and could be used to garden or to just enjoy some peace. Home is being sold as is. It has a shar

Key facts

• Full barn
• Large front porch
• Large kitchen

Tags

• LARGE KITCHEN
• FULL STONE BASEMENT
• FULL BARN
• LARGE FRONT PORCH
• QUIET BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#573 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Saranac Central School District (rural): math 43% / reading 56% proficiency, ranked #374 of 590 in NY (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clinton County population projected at -16% 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.77% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $235,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 River St	0.09mi	3/1.5	1,371 (-12%)	10mo	$169,900	$124	66
73 Rand Hill Road Rd	0.61mi	3/2.0	1,564 (+1%)	10mo	$277,500	$177	62
69 River St	0.17mi	2/1.0 (-1)	1,385 (-11%)	10mo	$210,000	$152	57
43 Maple St	0.35mi	4/1.0 (+1)	1,434 (-8%)	8mo	$210,000	$146	56
16 Kimberly Ln	0.61mi	3/2.0	1,700 (+10%)	6mo	$250,000	$147	51
1995 Route 22b	0.29mi	3/1.0	1,336 (-14%)	21mo	$201,310	$151	42
29 Kimberly Lane Ln	0.65mi	3/2.0	1,666 (+8%)	21mo	$320,000	$192	40
9 Brookside Ave	0.53mi	3/1.5	1,370 (-12%)	23mo	$229,000	$167	35

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

Projected returns pro-forma

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

5-year hold

• IRR: 11.2%
• Equity multiple: 1.45×
• Total profit: $9,363
• Equity at exit: $11,183

10-year hold

• IRR: 20.4%
• Equity multiple: 2.73×
• Total profit: $36,244
• Equity at exit: $6,485

Cash invested: $21,000 (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 12962

• Home prices YoY: -2.2%
• Active inventory: 29
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$287 /mo · $3,443/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $336

Break-even live

Break-even rent $901

Max offer price $75,000

Occupancy floor 70%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-10-15
   status Pending
2. 2025-09-09
   listed $75,000 Active

ⓘ 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: $3,443 · $287/mo
• Projected year-2 tax: $3,443 · $287/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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $15,906
• − Mortgage interest: −$4,201
• − Property taxes: −$3,443
• − Insurance: −$375
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$2,182
• Taxable income: $3,160
• Est. tax owed @ 24.0%: −$758
• After-tax cash flow: $3,269/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: Saranac Central School District
• NCES district ID: 3600009
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 56% ▲ 8.00%
• Median HH income: $59,066
• Composite: 43.19/100
• National rank: #3065
• State rank: #374 of 590 in NY

Livability — Morrisonville

• Score: 67/100
• State rank: #573
• US rank: #10301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrisonville, NY
• Population (ZIP): 5,131

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 (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Lithuanian 18% Slovak 3% Portuguese 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2%

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: ▼ -5.87%
• Current HPI: 265.7693
• 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

• 2025-10-15 Pending — ACVMLS
• 2025-09-09 Listed $75,000 ACVMLS

Property tax history

+5.9%/yr

Latest (2025): $3,443 · +0.3% YoY. Source: county tax records.