225 Main St · Fort Plain, NY 13339

$99,000

6 bd · 4.0 ba · 4,440 sqft · MultiFamily public records · 189 Days on market

Built 1950 0.26 ac lot $22/sqft · 66% below area Est $194k · 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 +7.6/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This multi-family property offers four spacious units, ideal for investors seeking reliable rental income. Each unit provides comfortable living spaces, making it attractive for long-term tenants. Nestled in a quiet rural location with convenient access to nearby amenities, the property delivers a perfect balance of privacy and accessibility. Being sold as is, it offers the chance to add value with some updates and improvements. For those looking to expand their real estate portfolio with potential for growth, this one may be a fit for you.

Key facts

• 0.26 acre lot
• 4 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $519/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#374 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: schools D, commute F, employment F.
• Fort Plain Central School District (rural): math 43% / reading 57% proficiency, ranked #401 of 590 in NY (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($684 loan paydown + $5k appreciation (5.2% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 189 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask is 99900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $24k; list at $99k implies a 312% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 2.39% ✓
• Cap rate: 18.87%
• Cash-on-cash: 44.91%
• DSCR: 3.00
• GRM: 3.5

CMA / ARV

• ARV (median comp): $193,791
• List price: $99,000
• Delta: -48.91%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

5.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.2%
• Equity multiple: 4.26×
• Total profit: $90,360
• Equity at exit: $57,536

10-year hold

• IRR: 50.8%
• Equity multiple: 8.78×
• Total profit: $215,684
• Equity at exit: $100,505

Cash invested: $27,720 (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 13339

• Home prices YoY: 1.7%
• Active inventory: 41
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,365 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$271 /mo · $3,247/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $1,037

Break-even live

Break-even rent $1,052

Max offer price $99,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$2,366
Total (2 units)			$2,365

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $99,000 Active 189 DOM
2. 2026-06-17
   days on market $99,000 Active 188 DOM
3. 2026-06-16
   days on market $99,000 Active 187 DOM
4. 2026-06-15
   days on market $99,000 Active 186 DOM
5. 2026-06-13
   days on market $99,000 Active 184 DOM
6. 2026-06-12
   days on market $99,000 Active 183 DOM
7. 2026-06-09
   days on market $99,000 Active 180 DOM
8. 2026-06-08
   days on market $99,000 Active 179 DOM
9. 2026-06-07
   days on market $99,000 Active 178 DOM
10. 2026-06-07
    days on market $99,000 Active 177 DOM
11. 2026-06-04
    days on market $99,000 Active 174 DOM
12. 2026-06-02
    days on market $99,000 Active 173 DOM
13. 2026-06-01
    days on market $99,000 Active 172 DOM
14. 2026-05-31
    days on market $99,000 Active 171 DOM
15. 2025-12-11
    price $99,000 549-char remark

    Show marketing remark (549 chars)

    This multi-family property offers four spacious units, ideal for investors seeking reliable rental income. Each unit provides comfortable living spaces, making it attractive for long-term tenants. Nestled in a quiet rural location with convenient access to nearby amenities, the property delivers a perfect balance of privacy and accessibility. Being sold as is, it offers the chance to add value with some updates and improvements. For those looking to expand their real estate portfolio with potential for growth, this one may be a fit for you.

16. 2025-12-08
    listed $99 Active 549-char remark

    Show marketing remark (549 chars)

    This multi-family property offers four spacious units, ideal for investors seeking reliable rental income. Each unit provides comfortable living spaces, making it attractive for long-term tenants. Nestled in a quiet rural location with convenient access to nearby amenities, the property delivers a perfect balance of privacy and accessibility. Being sold as is, it offers the chance to add value with some updates and improvements. For those looking to expand their real estate portfolio with potential for growth, this one may be a fit for you.

17. 2025-12-04
    historical
18. 2025-06-03
    listed $110,000 Active
19. 2024-12-11
    historical Contingent
20. 2024-12-11
    historical
21. 2024-11-04
    price $150,000
22. 2024-09-26
    price $174,000
23. 2024-09-10
    listed $199,000 Active
24. 2024-08-01
    historical
25. 2024-03-28
    price $215,000
26. 2024-03-09
    price $220,000
27. 2024-01-31
    listed $250,000 Active
28. 2013-02-01
    soldstatus $24,000
29. 2013-01-11
    historical
30. 2012-09-18
    listed $29,500

ⓘ 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: $3,247 · $271/mo
• Projected year-2 tax: $3,247 · $271/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 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $28,380
• − Mortgage interest: −$5,546
• − Property taxes: −$3,247
• − Insurance: −$495
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$2,880
• Taxable income: $11,671
• Est. tax owed @ 24.0%: −$2,801
• After-tax cash flow: $9,647/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: Fort Plain Central School District
• NCES district ID: 3611370
• Math proficiency: 43% ▲ 4.00%
• Reading proficiency: 57% ▲ 18.00%
• Median HH income: $41,754
• Composite: 41.94/100
• National rank: #3352
• State rank: #401 of 590 in NY

Livability — Fort Plain

• Score: 72/100
• State rank: #374
• US rank: #6455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Plain, NY
• Population (ZIP): 6,131

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 10% Lithuanian 9% Romanian 5%
• Foreign-born: 1%
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.24%
• Current HPI: 320.8989
• 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

+235.6% since first listed

16 events — show timeline

• 2025-12-11 Price Changed $99,000 Global MLS
• 2025-12-08 Listed $99 Global MLS
• 2025-12-04 Listing Removed — Global MLS
• 2025-06-03 Listed $110,000 Global MLS
• 2024-12-11 Contingent — Global MLS
• 2024-12-11 Listing Removed — Global MLS
• 2024-11-04 Price Changed $150,000 Global MLS
• 2024-09-26 Price Changed $174,000 Global MLS
• 2024-09-10 Listed $199,000 Global MLS
• 2024-08-01 Listing Removed — Global MLS
• 2024-03-28 Price Changed $215,000 Global MLS
• 2024-03-09 Price Changed $220,000 Global MLS
• 2024-01-31 Listed $250,000 Global MLS
• 2013-02-01 Sold (MLS) $24,000 Global MLS
• 2013-01-11 Listing Removed — Global MLS
• 2012-09-18 Listed $29,500 Global MLS

Property tax history

+0.8%/yr

Latest (2025): $3,247 · +5.8% YoY. Source: county tax records.