2387 New York 74 · Ticonderoga, NY 12883

$120,000

3 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 148 Days on market

Built 1890 27 ac lot $96/sqft · 68% below area ↓ 19% since listing

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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 +13.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

Key facts

• Solid wood floors
• 26 acres
• Close to lake george

Tags

• 26 ACRES
• SOLID WOOD FLOORS
• HARDWOOD FLOORS
• LEVEL AREA FOR ENTERTAINING
• CLOSE TO LAKE CHAMPLAIN
• CLOSE TO LAKE GEORGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-1 ($-8/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (8.6% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 2.2% in Ticonderoga — 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 77/100 on livability (#182 in NY, #2,828 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities D+, commute F.
• Ticonderoga Central School District (rural): math 41% / reading 50% proficiency, ranked #459 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Essex County population projected at -20% 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $40k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,600 (12.0% 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. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 9.1

CMA / ARV

• ARV (median comp): $379,433
• List price: $120,000
• Delta: -68.37%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.95×
• Total profit: $65,354
• Equity at exit: $108,106

10-year hold

• IRR: 21.5%
• Equity multiple: 6.73×
• Total profit: $192,568
• Equity at exit: $233,134

Cash invested: $33,600 (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 12883

• Home prices YoY: 14.5%
• Active inventory: 59
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$188 /mo · $2,255/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-1

Break-even live

Break-even rent $1,098

Max offer price $119,887

Occupancy floor 95%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $120,000 Active 148 DOM
2. 2026-06-17
   days on market $120,000 Active 147 DOM
3. 2026-06-16
   days on market $120,000 Active 146 DOM
4. 2026-06-15
   days on market $120,000 Active 145 DOM
5. 2026-06-13
   days on market $120,000 Active 143 DOM
6. 2026-06-12
   days on market $120,000 Active 142 DOM
7. 2026-06-09
   days on market $120,000 Active 139 DOM
8. 2026-06-08
   days on market $120,000 Active 138 DOM
9. 2026-06-07
   days on market $120,000 Active 137 DOM
10. 2026-06-07
    days on market $120,000 Active 136 DOM
11. 2026-06-04
    days on market $120,000 Active 133 DOM
12. 2026-06-02
    days on market $120,000 Active 132 DOM
13. 2026-06-01
    days on market $120,000 Active 131 DOM
14. 2026-05-31
    days on market $120,000 Active 130 DOM
15. 2026-04-12
    price $120,000 565-char remark

    Show marketing remark (565 chars)

    26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

16. 2026-04-12
    status Active 565-char remark

    Show marketing remark (565 chars)

    26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

17. 2026-03-11
    historical Contingent 565-char remark

    Show marketing remark (565 chars)

    26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

18. 2026-02-10
    price $129,900 565-char remark

    Show marketing remark (565 chars)

    26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

19. 2026-01-21
    listed $159,900 Active 565-char remark

    Show marketing remark (565 chars)

    26+ acres with the farmhouse still standing. The house has solid wood/hardwood floors throughout. House would require a lot of work to restore. Instead you can take the house down and have a great site for a new home with utilities already there. Acreage is on both sides of the road and could possibly be subdivided in the future. 1 mile from Eagle Lake, 12 minute drive to I-87, close to Lake Champlain and Lake George. Excellent opportunities. Former barn and property debris were recently remove, nice level area for entertaining or possible future garage/barn.

20. 2024-12-16
    soldstatus $115,000
21. 2024-11-26
    soldstatus $115,000 Closed 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

22. 2024-11-05
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

23. 2024-10-10
    price $134,900 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

24. 2024-10-02
    status Active 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

25. 2024-09-30
    historical Contingent 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

26. 2024-09-24
    price $145,000 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

27. 2024-07-05
    listed $149,900 Active 239-char remark

    Show marketing remark (239 chars)

    Over 26+ partially wooded acres only a mile from Eagle Lake. Log styled home perfect for a retreat getaway, hunting camp or with some work a year round home. Minutes from Northern Lake George, Lake Champlain, Paradox Lake and so much more.

28. 2017-09-23
    historical
29. 2016-09-23
    listed $89,000
30. 2016-08-11
    historical
31. 2015-08-11
    listed $119,000
32. 2015-06-22
    historical
33. 2015-01-14
    listed $129,000
34. 2014-10-29
    historical
35. 2013-10-29
    listed $149,000

ⓘ 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: $2,255 · $188/mo
• Projected year-2 tax: $2,255 · $188/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,163
• − Mortgage interest: −$6,722
• − Property taxes: −$2,255
• − Insurance: −$600
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$3,491
• Taxable loss: −$2,011
• Est. tax savings @ 24.0%: +$483
• After-tax cash flow: $475/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: Ticonderoga Central School District
• NCES district ID: 3628680
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 50% ▲ 7.00%
• Median HH income: $46,111
• Composite: 38.65/100
• National rank: #4150
• State rank: #459 of 590 in NY

Livability — Ticonderoga

• Score: 77/100
• State rank: #182
• US rank: #2828

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,781

Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 12% Romanian 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.24%
• Current HPI: 301.3984
• 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

-19.5% since first listed

21 events — show timeline

• 2026-04-12 Price Changed $120,000 Global MLS
• 2026-04-12 Relisted — Global MLS
• 2026-03-11 Contingent — Global MLS
• 2026-02-10 Price Changed $129,900 Global MLS
• 2026-01-21 Listed $159,900 Global MLS
• 2024-12-16 Sold (Public Records) $115,000 Public Records
• 2024-11-26 Sold (MLS) $115,000 Global MLS
• 2024-11-05 Pending — Global MLS
• 2024-10-10 Price Changed $134,900 Global MLS
• 2024-10-02 Relisted — Global MLS
• 2024-09-30 Contingent — Global MLS
• 2024-09-24 Price Changed $145,000 Global MLS
• 2024-07-05 Listed $149,900 Global MLS
• 2017-09-23 Listing Removed — Global MLS
• 2016-09-23 Listed $89,000 Global MLS
• 2016-08-11 Listing Removed — Global MLS
• 2015-08-11 Listed $119,000 Global MLS
• 2015-06-22 Listing Removed — Global MLS
• 2015-01-14 Listed $129,000 Global MLS
• 2014-10-29 Listing Removed — Global MLS
• 2013-10-29 Listed $149,000 Global MLS

Property tax history

-0.0%/yr

Latest (2025): $2,255 · -10.2% YoY. Source: county tax records.