59 Stone St · Port Henry, NY 12974

$125,000

3 bd · 1.5 ba · 1,357 sqft · SingleFamily public records · 153 Days on market

Built 1880 0.90 ac lot Est $159k · 21% under

---

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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.8/10.0
• Appreciation +7.7/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 1880's country home sits on just under an acre right outside the village. With 4 bedrooms and 2 bathrooms a large spacious living room with a large downstairs bedroom. It features over 2000sf of living space. Enjoy your morning coffee on the front covered porch and you can relax in the afternoon sun on the back patio. The property also has a 2nd sewer line and public water on top end of property. This home is in close proximity to Lake Champlain with 2 marinas and close to the bridge to Vermont. Train station within 2 miles. This would make the perfect year round home or a maybe even a rental.

Key facts

• Front covered porch
• Back patio
• Public water

Tags

• FRONT COVERED PORCH
• BACK PATIO
• PUBLIC WATER
• 2 MARINAS
• TRAIN STATION WITHIN 2 MILES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 2.9% in Port Henry — 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 76/100 on livability (#226 in NY, #3,576 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Moriah Central School District (rural): math 41% / reading 52% proficiency, ranked #445 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Moriah Elementary School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 385 students, 47% FRL); Moriah Junior-Senior High School (math 37% / reading 57%, grade D-, #1,007 of 1,100 statewide, top 93%, 316 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 23 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 $8k of equity ($864 loan paydown + $7k appreciation (5.5% 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 (5.5% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $125k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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?
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: 1.28% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $158,769
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Stone St	0.23mi	3/2.0	1,344 (-1%)	8mo	$110,000	$82	79
23 First Ln	0.44mi	3/2.0	1,236 (-9%)	6mo	$150,000	$121	58
13 2nd Ln	0.44mi	3/2.0	1,494 (+10%)	4mo	$159,500	$107	57
9 Waldo Pl	0.62mi	3/1.5	1,287 (-5%)	10mo	$150,000	$117	54
22 Rice Ln	0.62mi	3/2.0	1,426 (+5%)	9mo	$169,600	$119	53
15 Waldo Pl	0.64mi	3/1.0	1,360 (+0%)	19mo	$113,300	$83	52
49 Brook St	0.34mi	4/1.0 (+1)	1,500 (+10%)	11mo	$274,900	$183	50
27 Elizabeth St	0.54mi	3/2.0	1,522 (+12%)	14mo	$150,000	$99	41
9 Meacham St	0.70mi	3/2.0	1,560 (+15%)	3mo	$205,000	$131	38

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

Projected returns pro-forma

5.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.48×
• Total profit: $51,781
• Equity at exit: $74,250

10-year hold

• IRR: 22.1%
• Equity multiple: 4.95×
• Total profit: $138,271
• Equity at exit: $131,061

Cash invested: $35,000 (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 12974

• Home prices YoY: 1.6%
• Active inventory: 23
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$245 /mo · $2,939/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $309

Break-even live

Break-even rent $1,206

Max offer price $125,000

Occupancy floor 76%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-27
   status Pending
2. 2026-01-17
   price $125,000
3. 2025-11-24
   listed $135,000 Active
4. 2005-03-31
   soldstatus $20,000

ⓘ 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: $2,939 · $245/mo
• Projected year-2 tax: $2,939 · $245/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $19,162
• − Mortgage interest: −$7,002
• − Property taxes: −$2,939
• − Insurance: −$625
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$3,636
• Taxable income: $1,894
• Est. tax owed @ 24.0%: −$455
• After-tax cash flow: $3,254/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: Moriah Central School District
• NCES district ID: 3619830
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $46,940
• Composite: 39.55/100
• National rank: #3937
• State rank: #445 of 590 in NY

Livability — Port Henry

• Score: 76/100
• State rank: #226
• US rank: #3576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,545

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 (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 20% Romanian 12% Italian 6%
• Foreign-born: 2% · Canada, China
• Languages at home: 88% English-only · French/Haitian/Cajun 6% Spanish 2% Other Asian/Pacific 2%

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: ▲ 5.45%
• Current HPI: 342.6175
• 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

+525.0% since first listed

4 events — show timeline

• 2026-04-27 Pending — Global MLS
• 2026-01-17 Price Changed $125,000 Global MLS
• 2025-11-24 Listed $135,000 Global MLS
• 2005-03-31 Sold (Public Records) $20,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,939 · +18.0% YoY. Source: county tax records.