2265 State Highway 310 · Madrid, NY 13660

$109,000

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 34 Days on market

Built 1860 0.50 ac lot $79/sqft · 40% below area Est $182k · 40% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• Appreciation +7.5/10.0
• DSCR +6.3/10.0
• 1% rule +6.0/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step back in time without sacrificing modern comfort in this charming 3-bedroom, 1-bath historic farmhouse, situated on a level 0.50-acre lot within the sought-after Madrid-Waddington School District. Built in 1856, this "Old Style" home preserves its 19th-century soul, showcasing stunning exposed hand hewn ceiling beams that anchor the main living areas with rustic character. The interior features a thoughtfully updated eat-in kitchen complete with a stylish tile backsplash and full appliances, a convenient first-floor bedroom and bathroom, and two additional cozy bedrooms nestled under the classic gabled roofline of the second floor. Modern upgrades including a wrap-around por

Key facts

• Spacious backyard
• Historic farmhouse
• Wrap-around porch

Tags

• HISTORIC FARMHOUSE
• UPDATED EAT-IN KITCHEN
• WRAP-AROUND PORCH
• COVERED SIDE PORCH
• SPACIOUS BACKYARD
• CLOSE TO GRASSE RIVER

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Resale property; Asphalt roof
• Construction: Vinyl siding; Wood siding; Stone foundation
• Exterior features: Blacktop driveway; Rectangular lot (approx. 0.5 acres, dimensions 119 x 183); Frontage on a main thoroughfare

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 main level bedroom
• Flooring: Hardwood; Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air gas heating
• Interior features: Country kitchen; Bedroom on main level; Partial basement
• Laundry & utility: Main level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#849 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Madrid-Waddington Central School District (rural): math 50% / reading 56% proficiency, ranked #332 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($754 loan paydown + $5k appreciation (5.0% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $9k; list at $109k implies a 1111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1860 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 1.10% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 7.6

CMA / ARV

• ARV (median comp): $181,767
• List price: $109,000
• Delta: -40.03%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3678 County Route 14	0.48mi	4/2.0 (+1)	1,300 (-6%)	9mo	$164,540	$127	51

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

Projected returns pro-forma

5.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 2.10×
• Total profit: $33,435
• Equity at exit: $61,758

10-year hold

• IRR: 17.5%
• Equity multiple: 4.08×
• Total profit: $94,072
• Equity at exit: $106,578

Cash invested: $30,520 (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 13660

• Home prices YoY: 1.8%
• Active inventory: 5
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $130

Break-even live

Break-even rent $1,039

Max offer price $109,000

Occupancy floor 84%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $109,000 Active 34 DOM
2. 2026-06-17
   days on market $109,000 Active 33 DOM
3. 2026-06-16
   days on market $109,000 Active 32 DOM
4. 2026-06-15
   days on market $109,000 Active 31 DOM
5. 2026-06-13
   days on market $109,000 Active 29 DOM
6. 2026-06-12
   pricedays on market $109,000 Active 28 DOM
7. 2026-06-09
   days on market $119,000 Active 25 DOM
8. 2026-06-08
   days on market $119,000 Active 24 DOM
9. 2026-06-07
   days on market $119,000 Active 23 DOM
10. 2026-06-07
    days on market $119,000 Active 22 DOM
11. 2026-06-04
    days on market $119,000 Active 19 DOM
12. 2026-06-02
    days on market $119,000 Active 18 DOM
13. 2026-06-01
    days on market $119,000 Active 17 DOM
14. 2026-05-31
    days on market $119,000 Active 16 DOM
15. 2026-05-15
    listed $119,000 Active 1217-char remark
16. 2001-07-27
    soldstatus $9,000

ⓘ 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/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 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 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: $14,436
• − Mortgage interest: −$6,106
• − Property taxes: −$2,443
• − Insurance: −$545
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$3,171
• Taxable loss: −$139
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $1,590/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: Madrid-Waddington Central School District
• NCES district ID: 3618090
• Math proficiency: 50% ▲ 6.00%
• Reading proficiency: 56% ▲ 10.00%
• Median HH income: $51,008
• Composite: 45.35/100
• National rank: #2635
• State rank: #332 of 590 in NY

Livability — Madrid

• Score: 62/100
• State rank: #849
• US rank: #16443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madrid, NY
• Population (ZIP): 1,953

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 14% Slovak 5% German 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · German/W. Germanic 4% Spanish 1% Other Indo-European 1%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.00%
• Current HPI: 291.1384
• 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

+1111.1% since first listed

3 events — show timeline

• 2026-06-09 Price Changed $109,000 WNYREIS
• 2026-05-15 Listed $119,000 WNYREIS
• 2001-07-27 Sold (Public Records) $9,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,443 · +4.8% YoY. Source: county tax records.