12 Depot St

Chateaugay, NY 12920

$149,900F

None bd · None ba · 3,496 sqft · Built 1920 · Townhouse · Active · 252 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$270
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-1,056/mo
• Annual: $-12,668/yr
• Cap rate: -2.16%
• Cash-on-cash: -30.18%
• DSCR: -0.34
• 1% rule: 0.00%
• Cash to close: $41,972

Investor read

• This is a townhouse listed at $150k. Condition is rated fair.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• It's been on market 252 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (4.3% local appreciation)).
• Location reads 65/100 on livability (#694 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime F, amenities F.
• Chateaugay Central School District (rural): math 45% / reading 50% proficiency, ranked #515 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets may be dated and could benefit from a fresh paint job or new hardware.
• Minor: Bathroom cabinetry — The cabinetry may be dated and could benefit from a fresh paint job or new hardware.
• Moderate: Flooring — The flooring in the kitchen and bathrooms may need updating to improve the overall appearance and value of the property.