16 Summit Pl · Lake Luzerne, NY 12846

$220,000

2 bd · 1.5 ba · 1,836 sqft · SingleFamily public records · 109 Days on market

Built 1930 0.84 ac lot $120/sqft · 15% below area Est $260k · 15% under · waterfront ↓ 4% since listing

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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 +26.0/30.0
• ARV discount +14.5/15.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• 1% rule +7.0/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Absolutely! ''Discover this Lake Luzerne gem: a two-bedroom, two-bath home with versatile spaces. You'll enjoy the enclosed front and back porches, a side deck perfect for relaxing, and a spacious country kitchen ready for your culinary adventures. The home features both a living room and a family room--plenty of space to spread out. The detached two-car garage and small barn both offer second-floor potential, ideal for storage, workshops, or creative spaces. You'll love the built-in cabinets throughout, adding charm and functionality. -There is a hold harmless document that needs to be signed and sent to listing agent before showings will be approved. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. - All offers must be entered through propoffers.com. - An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. - Subject to seller addendum - For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. - All offers are subject to OFAC clearance. - A viewing release must be signed and returned to our office before showing this property.

Key facts

• Living room
• Small barn
• Side deck

Tags

• SIDE DECK
• SPACIOUS COUNTRY KITCHEN
• LIVING ROOM
• FAMILY ROOM
• DETACHED TWO-CAR GARAGE
• SMALL BARN

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 7.0% in Lake Luzerne — 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 65/100 on livability (#682 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• 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.
• 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 $24k of equity ($2k loan paydown + $22k 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 $62k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 109 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

• ARV (median comp): $260,278
• List price: $220,000
• Delta: -15.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 1st Ave	0.57mi	3/2.0 (+1)	1,898 (+3%)	8mo	$182,108	$96	55
4114 Rockwell St	0.45mi	2/1.5	1,696 (-8%)	20mo	$200,000	$118	50
79 1st Ave	0.60mi	3/2.0 (+1)	1,927 (+5%)	12mo	$247,500	$128	47
218 Lake Ave	0.39mi	3/2.0 (+1)	1,650 (-10%)	16mo	$315,000	$191	44

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: 32.1%
• Equity multiple: 3.51×
• Total profit: $154,830
• Equity at exit: $198,193

10-year hold

• IRR: 27.7%
• Equity multiple: 7.96×
• Total profit: $428,553
• Equity at exit: $427,412

Cash invested: $61,600 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,640 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$291 /mo · $3,495/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $549

Break-even live

Break-even rent $1,945

Max offer price $220,000

Occupancy floor 74%

Sensitivity live

Price	-10% $673	-5% $611	+0% $549	+5% $487	+10% $424
Rent	-10% $340	-5% $445	+0% $549	+5% $653	+10% $757
Rate	-1.0pp $660	-0.5pp $605	base $549	+0.5pp $492	+1.0pp $434

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $220,000 Active 109 DOM
2. 2026-06-18
   days on market $220,000 Active 107 DOM
3. 2026-06-17
   days on market $220,000 Active 106 DOM
4. 2026-06-16
   days on market $220,000 Active 105 DOM
5. 2026-06-16
   price $220,000 Active 104 DOM
6. 2026-06-15
   days on market $230,000 Active 104 DOM
7. 2026-06-13
   days on market $230,000 Active 102 DOM
8. 2026-06-12
   days on market $230,000 Active 101 DOM
9. 2026-06-09
   days on market $230,000 Active 98 DOM
10. 2026-06-08
    days on market $230,000 Active 97 DOM
11. 2026-06-07
    days on market $230,000 Active 96 DOM
12. 2026-06-05
    days on market $230,000 Active 94 DOM
13. 2026-06-04
    days on market $230,000 Active 92 DOM
14. 2026-06-02
    days on market $230,000 Active 91 DOM
15. 2026-06-01
    days on market $230,000 Active 90 DOM
16. 2026-05-31
    days on market $230,000 Active 89 DOM
17. 2026-05-01
    price $230,000 1533-char remark

    Show marketing remark (1533 chars)

    Absolutely! ''Discover this Lake Luzerne gem: a two-bedroom, two-bath home with versatile spaces. You'll enjoy the enclosed front and back porches, a side deck perfect for relaxing, and a spacious country kitchen ready for your culinary adventures. The home features both a living room and a family room--plenty of space to spread out. The detached two-car garage and small barn both offer second-floor potential, ideal for storage, workshops, or creative spaces. You'll love the built-in cabinets throughout, adding charm and functionality. -There is a hold harmless document that needs to be signed and sent to listing agent before showings will be approved. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. - All offers must be entered through propoffers.com. - An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. - Subject to seller addendum - For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. - All offers are subject to OFAC clearance. - A viewing release must be signed and returned to our office before showing this property.

18. 2026-03-02
    listed $240,000 Active 1533-char remark

    Show marketing remark (1533 chars)

    Absolutely! ''Discover this Lake Luzerne gem: a two-bedroom, two-bath home with versatile spaces. You'll enjoy the enclosed front and back porches, a side deck perfect for relaxing, and a spacious country kitchen ready for your culinary adventures. The home features both a living room and a family room--plenty of space to spread out. The detached two-car garage and small barn both offer second-floor potential, ideal for storage, workshops, or creative spaces. You'll love the built-in cabinets throughout, adding charm and functionality. -There is a hold harmless document that needs to be signed and sent to listing agent before showings will be approved. - This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. - All offers must be entered through propoffers.com. - An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. - Subject to seller addendum - For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. - All offers are subject to OFAC clearance. - A viewing release must be signed and returned to our office before showing this property.

ⓘ 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: $3,495 · $291/mo
• Projected year-2 tax: $3,606 · $301/mo
• Expected delta: +$112/yr (+$9/mo · 3.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $31,679
• − Mortgage interest: −$12,323
• − Property taxes: −$3,495
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,534
• − Management: −$2,534
• − Depreciation: −$6,400
• Taxable income: $3,292
• Est. tax owed @ 24.0%: −$790
• After-tax cash flow: $5,797/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 — Lake Luzerne

• Score: 65/100
• State rank: #682
• US rank: #12851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Luzerne, NY
• 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

-4.2% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $230,000 Global MLS
• 2026-03-02 Listed $240,000 Global MLS

Property tax history

+3.0%/yr

Latest (2025): $3,495 · +4.7% YoY. Source: county tax records.