43 Main Mill St · Plattsburgh, NY 12901

$65,000

3 bd · 1.0 ba · 875 sqft · Other public records · 53 Days on market

Built 1972 8,276 sqft lot $74/sqft · 62% below area ↓ 32% 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
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity. Priced below Assessed Value. There is a 2-bedroom, 1-bath ranch style home situated at the back of the property. Upgrades completed in 2023 include all new windows, vinyl siding, 3 of the 4 electric baseboard heaters, and electrical panel. Three wood top storage cabinets/units are not included in the sale. Property has (10'x12') storage shed. Parcel previously had two habitable structures. Fire destroyed the home at the front of the property that is still present and currently uninhabitable. Seller has obtained a permit from the City of Plattsburgh regarding demolition and/or renovation of this structure. Audio Recording Device Disclosure Form to be signed by purchaser(s) prior to showings. Form is available in listing documents or Sentilock App when scheduling showings. EASY OFFER LINK: https://www. dotloop.com/my/loop/p/8M4c0xCn9Ki?v=LD3td

Key facts

• 8,276 sq ft lot
• Built 1972
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 2.8% in Plattsburgh — 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 75/100 on livability (#262 in NY, #4,134 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools C-, employment D+, crime F.
• Plattsburgh City School District (town): math 33% / reading 55% proficiency, ranked #484 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 184 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.25% ✓
• Cap rate: 19.29%
• Cash-on-cash: 46.40%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $131,492
• List price: $65,000
• Delta: -50.57%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.7%
• Equity multiple: 2.89×
• Total profit: $34,312
• Equity at exit: $9,692

10-year hold

• IRR: 49.7%
• Equity multiple: 5.82×
• Total profit: $87,684
• Equity at exit: $5,620

Cash invested: $18,200 (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: 184
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $704

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 47%

Sensitivity live

Price	-10% $749	-5% $726	+0% $704	+5% $681	+10% $659
Rent	-10% $588	-5% $646	+0% $704	+5% $761	+10% $819
Rate	-1.0pp $736	-0.5pp $720	base $704	+0.5pp $687	+1.0pp $670

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5061 S Catherine St Plattsburgh, NY	2.0	1.0	850	$1,400	$1.65	22d	1	1.02mi
43 Hamilton St Plattsburgh, NY	1.0–2.0	1.0	800	$1,550	$1.94	22d	2	1.46mi

Listing history 11 events

1. 2026-05-31
   status $65,000 Pending 53 DOM
2. 2026-05-13
   price $65,000 877-char remark

   Show marketing remark (877 chars)

   Investment Opportunity. Priced below Assessed Value. There is a 2-bedroom, 1-bath ranch style home situated at the back of the property. Upgrades completed in 2023 include all new windows, vinyl siding, 3 of the 4 electric baseboard heaters, and electrical panel. Three wood top storage cabinets/units are not included in the sale. Property has (10'x12') storage shed. Parcel previously had two habitable structures. Fire destroyed the home at the front of the property that is still present and currently uninhabitable. Seller has obtained a permit from the City of Plattsburgh regarding demolition and/or renovation of this structure. Audio Recording Device Disclosure Form to be signed by purchaser(s) prior to showings. Form is available in listing documents or Sentilock App when scheduling showings. EASY OFFER LINK: https://www. dotloop.com/my/loop/p/8M4c0xCn9Ki?v=LD3td

3. 2026-04-07
   listed $75,000 Active 877-char remark

   Show marketing remark (877 chars)

   Investment Opportunity. Priced below Assessed Value. There is a 2-bedroom, 1-bath ranch style home situated at the back of the property. Upgrades completed in 2023 include all new windows, vinyl siding, 3 of the 4 electric baseboard heaters, and electrical panel. Three wood top storage cabinets/units are not included in the sale. Property has (10'x12') storage shed. Parcel previously had two habitable structures. Fire destroyed the home at the front of the property that is still present and currently uninhabitable. Seller has obtained a permit from the City of Plattsburgh regarding demolition and/or renovation of this structure. Audio Recording Device Disclosure Form to be signed by purchaser(s) prior to showings. Form is available in listing documents or Sentilock App when scheduling showings. EASY OFFER LINK: https://www. dotloop.com/my/loop/p/8M4c0xCn9Ki?v=LD3td

4. 2021-12-13
   soldstatus $127,900
5. 2021-12-09
   soldstatus $127,900 467-char remark

   Show marketing remark (467 chars)

   This is a unique opportunity--2 single family homes on (1) lot in the city. Front house is older style and ranch home in the back. Front house has many upgrades & new hot water tank In the ranch home as well as a newer metal roof. Washer & dryer are tenants. One water meter for both so landlord pays about $20-40 month. Both units are month to month--rents are lower then todays market Front House has a New Floor in Kitchen and some rooms newly painted

6. 2021-08-09
   soldstatus $135,000
7. 2021-03-25
   listed $129,900 467-char remark

   Show marketing remark (467 chars)

   This is a unique opportunity--2 single family homes on (1) lot in the city. Front house is older style and ranch home in the back. Front house has many upgrades & new hot water tank In the ranch home as well as a newer metal roof. Washer & dryer are tenants. One water meter for both so landlord pays about $20-40 month. Both units are month to month--rents are lower then todays market Front House has a New Floor in Kitchen and some rooms newly painted

8. 2013-11-06
   soldstatus $102,084
9. 2013-10-29
   soldstatus $108,600
10. 2013-06-04
    listed $109,900
11. 2003-10-15
    soldstatus $95,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $17,513
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$1,891
• Taxable income: $7,879
• Est. tax owed @ 24.0%: −$1,891
• After-tax cash flow: $6,554/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: Plattsburgh City School District
• NCES district ID: 3623280
• Math proficiency: 33% ▼ -16.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $38,322
• Composite: 36.61/100
• National rank: #4626
• State rank: #484 of 590 in NY

Livability — Plattsburgh

• Score: 75/100
• State rank: #262
• US rank: #4134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plattsburgh, NY
• 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

-31.6% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $65,000 ACVMLS
• 2026-04-07 Listed $75,000 ACVMLS
• 2021-12-13 Sold (Public Records) $127,900 Public Records
• 2021-12-09 Sold (MLS) $127,900 ACVMLS
• 2021-08-09 Sold (Public Records) $135,000 Public Records
• 2021-03-25 Listed $129,900 ACVMLS
• 2013-11-06 Sold (Public Records) $102,084 Public Records
• 2013-10-29 Sold (MLS) $108,600 ACVMLS
• 2013-06-04 Listed $109,900 ACVMLS
• 2003-10-15 Sold (Public Records) $95,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $3,409 · -25.4% YoY. Source: county tax records.