8000 State Route 8 · Schroon Lake, NY 12815

$119,999

4 bd · 2.0 ba · 1,380 sqft · SingleFamily · 15 Days on market

Built 1930 ↓ 40% 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 +25.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

Key facts

• Two separate parcels
• 2.5 acres
• 2 garage spots

Tags

• TWO SEPARATE PARCELS
• 2.5 ACRES
• WATER AND BASEBOARD HEATING
• FLEXIBLE PURCHASE OPTIONS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 0.7% in Schroon Lake — 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 71/100 on livability (#406 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-, schools B; Watch: amenities C-, crime F, commute F.
• North Warren Central School District (rural): math 48% / reading 55% proficiency, ranked #352 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 25 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Warren County population projected at -19% 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 15 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,199 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.18% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 31.9%
• Equity multiple: 3.50×
• Total profit: $83,938
• Equity at exit: $108,105

10-year hold

• IRR: 27.6%
• Equity multiple: 7.92×
• Total profit: $232,630
• Equity at exit: $233,132

Cash invested: $33,600 (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 12815

• Home prices YoY: 3.0%
• Active inventory: 25
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,419 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $291

Break-even live

Break-even rent $1,050

Max offer price $119,999

Occupancy floor 74%

Sensitivity live

Price	-10% $374	-5% $333	+0% $291	+5% $250	+10% $209
Rent	-10% $179	-5% $235	+0% $291	+5% $347	+10% $404
Rate	-1.0pp $352	-0.5pp $322	base $291	+0.5pp $260	+1.0pp $229

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2025-10-29
   soldstatus $119,000 Closed 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

2. 2025-06-10
   status Pending 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

3. 2025-06-10
   status Pending

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

4. 2025-05-25
   price $119,000 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

5. 2025-05-25
   listed $119,999 Active

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

6. 2025-05-12
   price $124,999 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

7. 2025-05-05
   price $129,999 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

8. 2025-04-27
   listed $149,999 Active 724-char remark

   Show marketing remark (724 chars)

   Incredible investment opportunity! Two vacant homes plus a massive 40'x40' barn/garage on two separate parcels near the lake. Featuring a total of 4 bedrooms and 2 baths across a level lot with beautiful mountain views. Perfect setup for short-term vacation rentals, Airbnb, or long-term rental income. Economical wood boiler heats both homes, saving on utilities. The second parcel is a wooded lot offering endless possibilities—build another home, expand rental units, or keep for extra privacy. Minutes to lake access, hiking, and year-round recreation. Endless upside for investors, flippers, or owner-occupants looking to build equity. Cash sale only, sold as is, assignment of contract required. 10% EMD required

9. 2020-09-11
   historical
10. 2019-03-01
    historical
11. 2017-02-17
    listed $139,900 Active
12. 2005-05-19
    listed $199,000

ⓘ 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 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,024
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$3,491
• Taxable income: $1,687
• Est. tax owed @ 24.0%: −$405
• After-tax cash flow: $3,092/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: North Warren Central School District
• NCES district ID: 3616960
• Math proficiency: 48% ▲ 6.00%
• Reading proficiency: 55% ▲ 6.00%
• Median HH income: $53,309
• Composite: 44.32/100
• National rank: #2829
• State rank: #352 of 590 in NY

Livability — Schroon Lake

• Score: 71/100
• State rank: #406
• US rank: #6982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,770
• Population (ZIP): 999

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 2% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.51%
• Current HPI: 391.0336
• 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

-40.2% since first listed

12 events — show timeline

• 2025-10-29 Sold (MLS) $119,000 Global MLS
• 2025-06-10 Pending — Global MLS
• 2025-06-10 Pending — UNYREIS
• 2025-05-25 Price Changed $119,000 Global MLS
• 2025-05-25 Listed $119,999 UNYREIS
• 2025-05-12 Price Changed $124,999 Global MLS
• 2025-05-05 Price Changed $129,999 Global MLS
• 2025-04-27 Listed $149,999 Global MLS
• 2020-09-11 Listing Removed — Global MLS
• 2019-03-01 Listing Removed — Global MLS
• 2017-02-17 Listed $139,900 Global MLS
• 2005-05-19 Listed $199,000 Global MLS