1457 New York 30 · Wells, NY 12190

$399,900

24 bd · 20.0 ba · 3,488 sqft · MultiFamily public records · 44 Days on market

Built 1935 8,712 sqft lot

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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 +26.0/30.0
• Appreciation +9.2/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.9/10.0
• Livability +3.1/5.0
• 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: 4 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

Rare Adirondack Investment & Lakefront Retreat Opportunity on Algonquin Lake! Discover the perfect blend of income potential and personal enjoyment with this unique 4-unit property nestled in the heart of the Adirondacks on beautiful Algonquin Lake. Whether you're seeking a turnkey investment, a family compound, or your own waterfront escape with rental income, this property delivers endless possibilities. The property features four well-maintained units with one unit currently open and ready for a new owner to immediately enjoy lakeside living while generating income from the additional units. Enjoy stunning lake views, direct access to outdoor recreation, and the peaceful beauty

Key facts

• Lakefront retreat
• Income potential
• Stunning lake views

Tags

• LAKEFRONT RETREAT
• INCOME POTENTIAL
• WATERFRONT ESCAPE
• STUNNING LAKE VIEWS
• PRIVATE LAKE GETAWAY

Property features AI

Exterior

• Parking: Six parking spaces
• Utilities: 150 Amp electrical service; Public water; Public sewer
• Home design: Quadruplex; Multiple stories (units with 1st and 2nd floor layouts)
• Construction: Vinyl siding; Stone foundation; Metal roof; Built living area recorded
• Exterior features: Front porch; Side covered porch; Lakefront with views of Lake Algonquin

Interior

• Kitchen: Unit 3 includes kitchens on both 1st and 2nd floors
• Bedrooms: Unit 1: 1 bedroom (1st floor); Unit 2: 1 bedroom (1st floor); Unit 3: 2 bedrooms (1 on 1st floor, 1 on 2nd floor); Unit 4: 2 bedrooms (1 on 2nd floor)
• Flooring: Wood flooring; Laminate flooring; Linoleum flooring
• Bathrooms: Five full bathrooms total; Units 1 and 2: each has 1 full bath (1st floor); Unit 3: 2 full baths (1 on 1st floor, 1 on 2nd floor); Unit 4: 1 full bath (1st floor)
• Heating & cooling: Baseboard heating; Electric heating; Propane heating
• Interior features: Wood, laminate and linoleum flooring; Full unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/5.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive. Per door: $170/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#921 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: health & safety C-, crime F, amenities F.
• Wells Central School District (rural): math 55% / reading 55% proficiency, ranked #369 of 755 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 55 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($3k loan paydown + $33k appreciation (8.3% local appreciation)).
• Hamilton County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $144k; list at $400k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.13% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.66%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.93×
• Total profit: $216,322
• Equity at exit: $312,425

10-year hold

• IRR: 23.5%
• Equity multiple: 6.32×
• Total profit: $596,192
• Equity at exit: $628,557

Cash invested: $111,972 (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 12190

• Home prices YoY: 2.5%
• Active inventory: 10
• Price-to-rent: 29.5×

Monthly cashflow live

• Estimated rent: $4,517 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$310 /mo · $3,724/yr
• Insurance: −$167
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$949
• Net cashflow: $681

Break-even live

Break-even rent $3,655

Max offer price $399,900

Occupancy floor 80%

Sensitivity live

Price	-10% $907	-5% $794	+0% $681	+5% $567	+10% $454
Rent	-10% $324	-5% $502	+0% $681	+5% $859	+10% $1,037
Rate	-1.0pp $882	-0.5pp $782	base $681	+0.5pp $577	+1.0pp $472

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	5	$4,516
Total (4 units)			$4,517

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $399,900 Active 44 DOM
2. 2026-06-21
   days on market $399,900 Active 43 DOM
3. 2026-06-18
   days on market $399,900 Active 41 DOM
4. 2026-06-17
   days on market $399,900 Active 40 DOM
5. 2026-06-16
   days on market $399,900 Active 39 DOM
6. 2026-06-15
   days on market $399,900 Active 38 DOM
7. 2026-06-13
   days on market $399,900 Active 36 DOM
8. 2026-06-12
   days on market $399,900 Active 35 DOM
9. 2026-06-09
   days on market $399,900 Active 32 DOM
10. 2026-06-08
    days on market $399,900 Active 31 DOM
11. 2026-06-07
    days on market $399,900 Active 30 DOM
12. 2026-06-07
    days on market $399,900 Active 29 DOM
13. 2026-06-04
    days on market $399,900 Active 26 DOM
14. 2026-06-02
    days on market $399,900 Active 25 DOM
15. 2026-06-01
    days on market $399,900 Active 24 DOM
16. 2026-05-31
    days on market $399,900 Active 23 DOM
17. 2026-05-08
    listed $399,900 Active 984-char remark
18. 2023-05-25
    soldstatus $144,000
19. 2023-03-28
    status Active
20. 2023-03-10
    status Pending
21. 2023-03-10
    historical
22. 2023-02-18
    listed $254,500 Active
23. 2002-01-28
    soldstatus $83,210

ⓘ 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: $3,724 · $310/mo
• Projected year-2 tax: $5,241 · $437/mo
• Expected delta: +$1,517/yr (+$126/mo · 40.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥91°F today · 18 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: $54,204
• − Mortgage interest: −$22,401
• − Property taxes: −$3,724
• − Insurance: −$5,764
• − Repairs & maintenance: −$4,336
• − Management: −$4,336
• − Depreciation: −$11,633
• Taxable income: $2,009
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $7,685/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: Wells Central School District
• NCES district ID: 3630450
• Math proficiency: 55% ▲ 10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $47,506
• Composite: 48.51/100
• National rank: #4624
• State rank: #369 of 755 in NY

Livability — Wells

• Score: 61/100
• State rank: #921
• US rank: #17996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wells, NY
• Population (ZIP): 683

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 4,374 people
• By 2030: 4,157 · -5.0%
• By 2040: 3,641 · -16.8%
• By 2050: 3,238 · -26.0%
• By 2075: 2,644 · -39.6%
• By 2100: 2,017 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 8% Romanian 4% Portuguese 4%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Hamilton

• 2024 margin: Strong R (+29.5) · D 35.3% · R 64.7%
• 2008→2024 swing: -2.6pp toward R · 2008: -26.9pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+30.3 2016: R+38.8 2012: R+26.2 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.32%
• Current HPI: 339.0154
• 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

+380.6% since first listed

7 events — show timeline

• 2026-05-08 Listed $399,900 Global MLS
• 2023-05-25 Sold (Public Records) $144,000 Public Records
• 2023-03-28 Relisted — Global MLS
• 2023-03-10 Pending — Global MLS
• 2023-03-10 Listing Removed — Global MLS
• 2023-02-18 Listed $254,500 Global MLS
• 2002-01-28 Sold (Public Records) $83,210 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,724 · +4.3% YoY. Source: county tax records.