11238 Route 9 · Champlain, NY 12919

$109,000

4 bd · 2.0 ba · 1,939 sqft · MultiFamily public records · 511 Days on market

Built 1875 Fair condition 8,712 sqft lot $56/sqft · 49% below area Est $216k · 49% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.4/10.0
• Schools +5.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Well-maintained duplex located in the Village of Champlain and priced to sell. Both the upper and lower units offer 2 bedrooms and 1 full bathroom. Property features a mix of detached and attached garages, providing ample storage for tenants or owner use. Recent improvements include new electric water heaters (2024), a natural gas furnace (approximately 3 years old), numerous new windows and doors, and updated plumbing and water lines. A great opportunity for owner-occupants or investors seeking a solid income-producing property.

Key facts

• Numerous new windows
• Village of champlain
• Natural gas furnace

Tags

• VILLAGE OF CHAMPLAIN
• DETACHED AND ATTACHED GARAGES
• NEW ELECTRIC WATER HEATERS
• NATURAL GAS FURNACE
• NUMEROUS NEW WINDOWS
• NEW PLUMBING AND WATER LINES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $109k. Condition is rated fair.
• This rent per unit is only 16% of the median local income ($77k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#623 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, crime A-; Watch: amenities F, commute F, employment D-.
• Northeastern Clinton Central School District (rural): math 63% / reading 63% proficiency, ranked #203 of 590 in NY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northeastern Clinton Middle School (math 32% / reading 52%, grade D-, #379 of 729 statewide, top 54%, 277 students, 50% FRL).
• Zoned-school proficiency averages 42% at this address vs 63% district-wide (-21 pts) — the specific schools serving this property underperform the Northeastern Clinton Central School District average; the district grade overstates school quality for this exact location.
• Market conditions: 33 active listings in the ZIP; solid renter incomes; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($754 loan paydown + $5k appreciation (4.7% local appreciation)).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 511 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 511 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.85% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.04%
• DSCR: 1.98
• GRM: 4.5

CMA / ARV

• ARV (median comp): $215,568
• List price: $109,000
• Delta: -49.44%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Oak St	0.34mi	3/2.0 (-1)	1,795 (-7%)	19mo	$340,000	$189	51
39 Spruce St. St	0.44mi	4/2.0	1,458 (-25%)	11mo	$130,000	$89	45
45 Church St	0.46mi	4/2.0	2,100 (+8%)	31mo	$237,500	$113	45
556 Prospect St	1.23mi	3/1.5 (-1)	1,811 (-7%)	3mo	$165,000	$91	44
25 Butternut St	0.43mi	4/1.5	1,595 (-18%)	12mo	$123,000	$77	43
79 Elm St	0.92mi	4/1.5	1,906 (-2%)	33mo	$140,000	$73	40
37 Ashline Dr	0.64mi	3/1.5 (-1)	1,700 (-12%)	7mo	$242,500	$143	37
661 Prospect St	0.78mi	4/1.0	2,006 (+4%)	35mo	$153,000	$76	35
113 Elm Street St	0.76mi	4/1.5	2,228 (+15%)	10mo	$227,000	$102	29
23 Spruce St	0.50mi	3/2.0 (-1)	1,664 (-14%)	23mo	$211,300	$127	29
102 Tallman Rd	1.41mi	3/2.0 (-1)	2,364 (+22%)	8mo	$280,000	$118	28
516 Prospect St	1.40mi	3/1.0 (-1)	1,612 (-17%)	20mo	$215,000	$133	15

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

Projected returns pro-forma

4.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.6%
• Equity multiple: 2.94×
• Total profit: $59,219
• Equity at exit: $59,837

10-year hold

• IRR: 30.5%
• Equity multiple: 5.90×
• Total profit: $149,446
• Equity at exit: $101,707

Cash invested: $30,520 (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 12919

• Home prices YoY: 1.7%
• Active inventory: 33
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,021 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$419 /mo · $5,027/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $561

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,020
Total (2 units)			$2,021

Break-even live

Break-even rent $1,311

Max offer price $109,000

Occupancy floor 67%

Sensitivity live

Price	-10% $919	-5% $592	+0% $561	+5% $530	+10% $499
Rent	-10% $401	-5% $481	+0% $561	+5% $640	+10% $720
Rate	-1.0pp $616	-0.5pp $588	base $561	+0.5pp $532	+1.0pp $504

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: $27,250
• Closing costs: $3,270
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $109,000 Active 511 DOM
2. 2026-08-07
   days on market $109,000 Active 510 DOM
3. 2026-08-06
   days on market $109,000 Active 509 DOM
4. 2026-08-05
   days on market $109,000 Active 508 DOM
5. 2026-08-04
   days on market $109,000 Active 507 DOM
6. 2026-08-03
   days on market $109,000 Active 506 DOM
7. 2026-07-31
   days on market $109,000 Active 503 DOM
8. 2026-07-30
   days on market $109,000 Active 502 DOM
9. 2026-07-29
   days on market $109,000 Active 501 DOM
10. 2026-07-27
    days on market $109,000 Active 499 DOM
11. 2026-07-25
    days on market $109,000 Active 497 DOM
12. 2026-07-24
    days on market $109,000 Active 496 DOM
13. 2026-07-23
    days on market $109,000 Active 495 DOM
14. 2026-07-22
    days on market $109,000 Active 494 DOM
15. 2026-07-21
    days on market $109,000 Active 493 DOM
16. 2026-07-20
    days on market $109,000 Active 492 DOM
17. 2026-07-18
    days on market $109,000 Active 490 DOM
18. 2026-07-16
    days on market $109,000 Active 488 DOM
19. 2026-07-15
    days on market $109,000 Active 487 DOM
20. 2026-07-14
    days on market $109,000 Active 486 DOM
21. 2026-07-13
    days on market $109,000 Active 485 DOM
22. 2026-07-12
    days on market $109,000 Active 484 DOM
23. 2026-07-12
    days on market $109,000 Active 483 DOM
24. 2026-07-10
    days on market $109,000 Active 482 DOM
25. 2026-07-09
    days on market $109,000 Active 481 DOM
26. 2026-07-08
    days on market $109,000 Active 479 DOM
27. 2026-07-06
    days on market $109,000 Active 478 DOM
28. 2026-07-05
    days on market $109,000 Active 477 DOM
29. 2026-07-05
    days on market $109,000 Active 476 DOM
30. 2026-07-03
    days on market $109,000 Active 475 DOM
31. 2026-07-03
    days on market $109,000 Active 474 DOM
32. 2026-07-01
    days on market $109,000 Active 473 DOM
33. 2026-06-30
    days on market $109,000 Active 472 DOM
34. 2026-06-29
    days on market $109,000 Active 471 DOM
35. 2026-06-28
    days on market $109,000 Active 470 DOM
36. 2026-06-27
    days on market $109,000 Active 469 DOM
37. 2026-06-26
    days on market $109,000 Active 468 DOM
38. 2026-06-22
    days on market $109,000 Active 464 DOM
39. 2026-06-21
    days on market $109,000 Active 463 DOM
40. 2026-06-21
    pricedays on market $109,000 Active 462 DOM
41. 2026-06-18
    days on market $129,000 Active 460 DOM
42. 2026-06-17
    days on market $129,000 Active 459 DOM
43. 2026-06-16
    days on market $129,000 Active 458 DOM
44. 2026-06-15
    days on market $129,000 Active 457 DOM
45. 2026-06-13
    days on market $129,000 Active 455 DOM
46. 2026-06-12
    days on market $129,000 Active 454 DOM
47. 2026-06-09
    days on market $129,000 Active 451 DOM
48. 2026-06-08
    days on market $129,000 Active 450 DOM
49. 2026-06-07
    days on market $129,000 Active 449 DOM
50. 2026-06-07
    days on market $129,000 Active 448 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: $5,027 · $419/mo
• Projected year-2 tax: $5,027 · $419/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 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 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: $24,252
• − Mortgage interest: −$6,106
• − Property taxes: −$5,027
• − Insurance: −$545
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$3,171
• Taxable income: $5,523
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $5,402/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $48,475–$87,255 screening

This two-unit property requires moderate renovations to update the kitchens and bathrooms, and to address exterior and interior wear. The home is well-maintained but could benefit from a fresh coat of paint and updated fixtures to increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — outdated and possibly in need of replacement
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint can make a significant difference in the home's appearance ↑
• Both repair and replace flooring — new flooring can improve both the home's appearance and functionality ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: Northeastern Clinton Central School District
• NCES district ID: 3621250
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 63% ▲ 6.00%
• Median HH income: $48,921
• Composite: 53.46/100
• National rank: #1461
• State rank: #203 of 590 in NY

C Composite livability gradescore 66/100

Livability — Champlain

• Score: 66/100
• State rank: #623
• US rank: #11356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Champlain, NY
• County: Clinton · 78,791 people
• Population (ZIP): 2,789
• Household income: $77,072
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 15% German 8% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

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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: ▲ 4.71%
• Current HPI: 281.0541
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

+67.0% since first listed

7 events — show timeline

• 2026-01-08 Relisted — ACVMLS
• 2026-01-01 Delisted — ACVMLS
• 2025-08-21 Price Changed $129,000 ACVMLS
• 2025-07-10 Price Changed $155,000 ACVMLS
• 2025-03-06 Listed $169,000 ACVMLS
• 2011-09-29 Sold (Public Records) $103,500 Public Records
• 2005-11-07 Sold (Public Records) $77,250 Public Records

Property tax history

+7.0%/yr

Latest (2025): $5,027 · +2.6% YoY. Source: county tax records.