282 Lee St · Cape Vincent, NY 13618

$99,900

3 bd · 1.0 ba · 400 sqft · Other public records · 123 Days on market

Built 1982 4,455 sqft lot

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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 +23.7/30.0
• Appreciation +9.7/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity to own a St Lawrence river summer getaway. This cottage sits on village parcel with municipal utilities. The lot features the one room with bath cottage with one stall detached garage. The location offers the owner the opportunity to stroll to all the amenities this river community has to offer. There is no kitchen in the building. The building sits on Piers with tie downs chained to concrete pad. The seller will have the remaining metal from cottage roof installed om the garage as part of the sale. This parcel also can be used as a residential lot for a stick built home or a manufactured home Great opportunity to enjoy the river life.

Key facts

• Municipal utilities
• Detached garage
• 4,455 sq ft lot

Tags

• MUNICIPAL UTILITIES
• DETACHED GARAGE
• BUILDING SITS ON PIERS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#615 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, schools B; Watch: health & safety D, crime F, amenities F.
• Thousand Islands Central School District (rural): math 60% / reading 56% proficiency, ranked #262 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($691 loan paydown + $9k appreciation (9.4% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.4% 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 ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $13k; list at $100k implies a 668% gain — meaningful room to come down on a strong offer.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 1.01% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.0%
• Equity multiple: 3.23×
• Total profit: $62,334
• Equity at exit: $85,622

10-year hold

• IRR: 25.4%
• Equity multiple: 7.19×
• Total profit: $173,041
• Equity at exit: $180,182

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 13618

• Home prices YoY: 2.7%
• Active inventory: 35
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,009 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $190

Break-even live

Break-even rent $769

Max offer price $99,900

Occupancy floor 76%

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 20 events

1. 2026-06-19
   days on market $99,900 Active 123 DOM
2. 2026-06-18
   days on market $99,900 Active 122 DOM
3. 2026-06-17
   days on market $99,900 Active 121 DOM
4. 2026-06-16
   days on market $99,900 Active 120 DOM
5. 2026-06-15
   days on market $99,900 Active 119 DOM
6. 2026-06-14
   days on market $99,900 Active 117 DOM
7. 2026-06-12
   days on market $99,900 Active 116 DOM
8. 2026-06-09
   days on market $99,900 Active 113 DOM
9. 2026-06-08
   days on market $99,900 Active 112 DOM
10. 2026-06-07
    days on market $99,900 Active 111 DOM
11. 2026-06-02
    days on market $99,900 Active 106 DOM
12. 2026-06-01
    days on market $99,900 Active 105 DOM
13. 2026-05-31
    days on market $99,900 Active 104 DOM
14. 2026-05-30
    days on market $99,900 Active 103 DOM
15. 2026-04-01
    price $99,900 665-char remark

    Show marketing remark (665 chars)

    Great opportunity to own a St Lawrence river summer getaway. This cottage sits on village parcel with municipal utilities. The lot features the one room with bath cottage with one stall detached garage. The location offers the owner the opportunity to stroll to all the amenities this river community has to offer. There is no kitchen in the building. The building sits on Piers with tie downs chained to concrete pad. The seller will have the remaining metal from cottage roof installed om the garage as part of the sale. This parcel also can be used as a residential lot for a stick built home or a manufactured home Great opportunity to enjoy the river life.

16. 2026-02-16
    listed $104,900 Active 665-char remark

    Show marketing remark (665 chars)

    Great opportunity to own a St Lawrence river summer getaway. This cottage sits on village parcel with municipal utilities. The lot features the one room with bath cottage with one stall detached garage. The location offers the owner the opportunity to stroll to all the amenities this river community has to offer. There is no kitchen in the building. The building sits on Piers with tie downs chained to concrete pad. The seller will have the remaining metal from cottage roof installed om the garage as part of the sale. This parcel also can be used as a residential lot for a stick built home or a manufactured home Great opportunity to enjoy the river life.

17. 2018-12-05
    soldstatus $13,000 204-char remark

    Show marketing remark (204 chars)

    Nice building lot in quiet section of the village. has a 20x20 garage with overhead door and cement pad. Electric, water, and sewer available but not on the lot. Please call ahead before entering garage.

18. 2018-07-02
    listed $17,000 204-char remark

    Show marketing remark (204 chars)

    Nice building lot in quiet section of the village. has a 20x20 garage with overhead door and cement pad. Electric, water, and sewer available but not on the lot. Please call ahead before entering garage.

19. 2016-10-31
    historical
20. 2016-06-15
    listed $19,900

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$594/yr (+$50/mo · 118.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,102
• − Mortgage interest: −$5,596
• − Property taxes: −$500
• − Insurance: −$500
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$2,906
• Taxable income: $665
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $2,115/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: Thousand Islands Central School District
• NCES district ID: 3607650
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $55,233
• Composite: 49.94/100
• National rank: #1930
• State rank: #262 of 590 in NY

Livability — Cape Vincent

• Score: 67/100
• State rank: #615
• US rank: #11167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Vincent, NY
• Population (ZIP): 1,696

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Slovak 4% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.40%
• Current HPI: 360.5985
• 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

+402.0% since first listed

6 events — show timeline

• 2026-04-01 Price Changed $99,900 CNYIS
• 2026-02-16 Listed $104,900 CNYIS
• 2018-12-05 Sold (MLS) $13,000 CNYIS
• 2018-07-02 Listed $17,000 CNYIS
• 2016-10-31 Listing Removed — CNYIS
• 2016-06-15 Listed $19,900 CNYIS

Property tax history

+0.7%/yr

Latest (2025): $500 · +1.9% YoY. Source: county tax records.