347 Cold Springs Rd · Malone, NY 12966

$139,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 86 Days on market

Built 2013 1.50 ac lot $92/sqft · 36% below area Est $216k · 36% under

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Appreciation +10.0/10.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Welcome to this well-kept 3 bedroom, 2 bathroom home that sits on 1.5 acres and offers a great mix of open yard space and privacy. Inside you'll find a large living area with great natural light that flows nicely into the dining space and updated kitchen featuring newer cabinets, countertops, and a dining area that makes the space both functional and inviting. The layout is comfortable and practical with three good-sized bedrooms, including a primary bedroom with its own private bathroom. Both bathrooms have been updated and offer plenty of space. Outside you'll enjoy the open yard with plenty of room to relax, entertain, garden, or simply enjoy the quiet setting.

Key facts

• Great natural light
• Open yard
• Updated kitchen

Tags

• OPEN YARD
• UPDATED KITCHEN
• PRIVATE BATHROOM
• GREAT NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $-24 ($-288/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (12.6% below list).
• Recommended offer: $121k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#437 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime D-.
• Malone Central School District (town): math 27% / reading 29% proficiency, ranked #581 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Recommended offer $121,421 (12.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 9.5

CMA / ARV

• ARV (median comp): $216,221
• List price: $139,000
• Delta: -35.71%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.91×
• Total profit: $74,205
• Equity at exit: $125,222

10-year hold

• IRR: 21.1%
• Equity multiple: 6.65×
• Total profit: $219,790
• Equity at exit: $270,046

Cash invested: $38,920 (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 12966

• Home prices YoY: 3.6%
• Active inventory: 22
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$196 /mo · $2,357/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-24

Break-even live

Break-even rent $1,245

Max offer price $134,756

Occupancy floor 97%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-04
   statusdays on market $139,000 Pending 86 DOM
2. 2026-06-02
   days on market $139,000 Active 85 DOM
3. 2026-06-01
   days on market $139,000 Active 84 DOM
4. 2026-05-31
   days on market $139,000 Active 83 DOM
5. 2026-03-09
   listed $139,000 Active 673-char remark

   Show marketing remark (673 chars)

   Welcome to this well-kept 3 bedroom, 2 bathroom home that sits on 1.5 acres and offers a great mix of open yard space and privacy. Inside you'll find a large living area with great natural light that flows nicely into the dining space and updated kitchen featuring newer cabinets, countertops, and a dining area that makes the space both functional and inviting. The layout is comfortable and practical with three good-sized bedrooms, including a primary bedroom with its own private bathroom. Both bathrooms have been updated and offer plenty of space. Outside you'll enjoy the open yard with plenty of room to relax, entertain, garden, or simply enjoy the quiet setting.

ⓘ 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: $2,357 · $196/mo
• Projected year-2 tax: $2,357 · $196/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,571
• − Mortgage interest: −$7,786
• − Property taxes: −$2,357
• − Insurance: −$695
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$4,044
• Taxable loss: −$2,642
• Est. tax savings @ 24.0%: +$634
• After-tax cash flow: $346/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: Malone Central School District
• NCES district ID: 3618180
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $46,681
• Composite: 24.23/100
• National rank: #7725
• State rank: #581 of 590 in NY

Livability — Malone

• Score: 70/100
• State rank: #437
• US rank: #7656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,962

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 48,098 people
• By 2030: 46,790 · -2.7%
• By 2040: 44,400 · -7.7%
• By 2050: 41,256 · -14.2%
• By 2075: 32,190 · -33.1%
• By 2100: 23,407 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 16% Iranian 5% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+9.0) · D 45.5% · R 54.5%
• 2008→2024 swing: -31.2pp toward R · 2008: 22.2pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+2.2 2016: R+7.4 2012: D+26.3 2008: D+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.47%
• Current HPI: 297.6735
• 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

1 event — show timeline

• 2026-03-09 Listed $139,000 ACVMLS

Property tax history

+2.9%/yr

Latest (2025): $2,357 · +9.5% YoY. Source: county tax records.