59 North Dr · Corinth, NY 12846

$424,900

3 bd · 2.0 ba · 1,572 sqft · SingleFamily public records · 7 Days on market

Built 1985 12 ac lot

---

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 +13.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy the Adirondacks at its finest. This well built one owner ranch home on 11.62 acres is a must see. Used as a summer home for kids and grandkids. Stroll on down to the public beach and enjoy the summers! 10 minute drive to West Mountain Ski Resort! 3 bedrooms with 2 full bathes. Large basement. Needs some updating. Very Good Condition

Key facts

• 11.62 acres
• Large back deck
• Ranch home

Tags

• RANCH HOME
• 11.62 ACRES
• PRIVATE ROAD
• UPDATED KITCHEN
• LARGE BACK DECK
• ABOVE GROUND POOL

Property features AI

Exterior

• Parking: 2-car garage with garage door opener; Driveway; 10 total parking spaces
• Utilities: Public water; Septic tank sewer
• Home design: Single family residence; Entry on the first level
• Construction: Vinyl siding; Shingle/asphalt roof
• Exterior features: Deck; Wooded lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Primary bedroom on the first level; Additional bedrooms on the first level
• Flooring: Hardwood; Laminate
• Bathrooms: 2 full bathrooms on the first level
• Heating & cooling: Forced air heating; Propane heating; Wood heating
• Interior features: 10 total rooms; Full basement; Living room with fireplace
• Laundry & utility: Laundry room; Washer/Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-20 ($-241/yr) — negative.
• To cash-flow at today's rent, offer at most $421k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (18.7% below list).
• Recommended offer: $345k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.2% in Corinth — 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 68/100 on livability (#514 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living B+; Watch: employment C-, amenities F, commute F.
• Hadley-Luzerne Central School District (rural): math 41% / reading 57% proficiency, ranked #396 of 590 in NY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hadley-Luzerne Junior-Senior High School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 304 students, 54% FRL).
• Zoned-school proficiency averages 64% at this address vs 49% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Hadley-Luzerne Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Warren County population projected at -19% 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 $119k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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.
• Current owner paid $170k; list at $425k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $345,366 (18.7% 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. 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.
4. 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.
5. 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: 0.81% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $210,648
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Harris Ave	0.22mi	3/2.5	1,568 (-0%)	12mo	$210,000	$134	77
2229 Call St	0.13mi	3/1.5	1,530 (-3%)	17mo	$255,900	$167	73
152 E River Dr	0.40mi	4/1.5 (+1)	1,488 (-5%)	22mo	$198,900	$134	47

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: 24.1%
• Equity multiple: 2.93×
• Total profit: $230,070
• Equity at exit: $382,784

10-year hold

• IRR: 21.4%
• Equity multiple: 6.70×
• Total profit: $678,397
• Equity at exit: $825,487

Cash invested: $118,972 (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 12846

• Home prices YoY: 16.1%
• Active inventory: 39
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,454 medium
• Mortgage (P&I): −$2,228
• Tax from tax record: −$343 /mo · $4,118/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$725
• Net cashflow: $-20

Break-even live

Break-even rent $3,479

Max offer price $421,353

Occupancy floor 96%

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $424,900 Active 7 DOM
2. 2026-06-17
   days on market $424,900 Active 6 DOM
3. 2026-06-16
   days on market $424,900 Active 5 DOM
4. 2026-06-15
   days on market $424,900 Active 4 DOM
5. 2026-06-13
   days on market $424,900 Active 2 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $424,900 Active 1 DOM

ⓘ 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: $4,118 · $343/mo
• Projected year-2 tax: $5,650 · $471/mo
• Expected delta: +$1,531/yr (+$128/mo · 37.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $41,444
• − Mortgage interest: −$23,801
• − Property taxes: −$4,118
• − Insurance: −$2,124
• − Repairs & maintenance: −$3,316
• − Management: −$3,316
• − Depreciation: −$12,361
• Taxable loss: −$7,592
• Est. tax savings @ 24.0%: +$1,822
• After-tax cash flow: $1,581/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: Hadley-Luzerne Central School District
• NCES district ID: 3613110
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 57% ▲ 2.00%
• Median HH income: $52,974
• Composite: 42.18/100
• National rank: #3292
• State rank: #396 of 590 in NY

Livability — Corinth

• Score: 68/100
• State rank: #514
• US rank: #9140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,007

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 10% Lithuanian 10% German 5%
• Foreign-born: 1% · Canada

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.73%
• Current HPI: 336.2179
• 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

+137.4% since first listed

4 events — show timeline

• 2026-06-11 Listed $424,900 Global MLS
• 2018-10-01 Sold (MLS) $170,000 Global MLS
• 2018-09-05 Sold (Public Records) $105,000 Public Records
• 2018-07-27 Listed $179,000 Global MLS

Property tax history

+1.3%/yr

Latest (2025): $4,118 · +5.2% YoY. Source: county tax records.