7 Labarge Dr · Morrisonville, NY 12901

$89,900

2 bd · 2.0 ba · 1,280 sqft · Manufactured · 22 Days on market

Built 2002 Good condition ↓ 5% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful and spacious single wide located in 4 Seasons Mobile Home Park. This 16x80 Redman mobile home boast 2 large bedrooms, 2 bathrooms, 2 seasonal porches and sits on a large corner lot. Outside there are two storage buildings and a back deck. The home has been meticulously maintained and loved by the current owners, the roof was redone 4 years ago. The primary bedroom has his and hers closets as well as a large ensuite bathroom. From the dining room you can step down through the glass doors into a seasonal room with additional storage space. Lot rent is approximately $420. per month, buyer will need to fill out a park application and be approved prior to closing. There is no deed or t

Key facts

• His and hers closets
• Large corner lot
• Seasonal room

Tags

• LARGE CORNER LOT
• TWO STORAGE BUILDINGS
• BACK DECK
• SEASONAL ROOM
• HIS AND HERS CLOSETS
• ENSUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#573 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Saranac Central School District (rural): math 43% / reading 56% proficiency, ranked #374 of 590 in NY (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.72% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.66%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.0%
• Equity multiple: 1.94×
• Total profit: $23,751
• Equity at exit: $13,404

10-year hold

• IRR: 30.9%
• Equity multiple: 3.78×
• Total profit: $70,089
• Equity at exit: $7,773

Cash invested: $25,172 (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 12901

• Home prices YoY: -22.5%
• Active inventory: 183
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $601

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 56%

Sensitivity live

Price	-10% $663	-5% $632	+0% $601	+5% $570	+10% $539
Rent	-10% $479	-5% $540	+0% $601	+5% $662	+10% $724
Rate	-1.0pp $647	-0.5pp $624	base $601	+0.5pp $578	+1.0pp $554

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-21
   status Pending
2. 2026-04-12
   price $89,900
3. 2026-03-30
   listed $95,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥94°F today · 13 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: $18,570
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$2,615
• Taxable income: $6,150
• Est. tax owed @ 24.0%: −$1,476
• After-tax cash flow: $5,739/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 · 13 photos

Good 75/100 Cosmetic rehab

This single-wide mobile home in 4 Seasons Mobile Home Park is in good condition with minor repairs needed. Fresh paint and updated cabinets would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Dated appearance
• Minor Landscaping — Sparse and needs attention

Value-add opportunities

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn cabinets — New cabinets improve functionality and appearance
• Both Landscaping upgrade — Improved landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Dated appearance	Minor	$500–3,000
Landscaping · Sparse and needs attention	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn cabinets — New cabinets improve functionality and appearance ↑
• Both Landscaping upgrade — Improved landscaping enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Saranac Central School District
• NCES district ID: 3600009
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 56% ▲ 8.00%
• Median HH income: $59,066
• Composite: 43.19/100
• National rank: #3065
• State rank: #374 of 590 in NY

Livability — Morrisonville

• Score: 67/100
• State rank: #573
• US rank: #10301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 32,012

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3% Asian 3%
• Common ancestry: Lithuanian 15% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -73.55%
• Current HPI: 252.8692
• 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

-5.4% since first listed

3 events — show timeline

• 2026-04-21 Pending — ACVMLS
• 2026-04-12 Price Changed $89,900 ACVMLS
• 2026-03-30 Listed $95,000 ACVMLS