104 Wallace Hill Rd · Plattsburgh, NY 12901

$159,000

2 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 5 Days on market

Built 1926 1.66 ac lot Est $209k · 24% 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 +14.8/30.0
• 1% rule +4.5/10.0
• DSCR +4.5/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single level ranch with 2/3 bedrooms on an oversized lot. 3rd bedroom was used as an office. Bright enclosed porch at the front of the home. There is also a three car garage with a workshop area. There is also a large fenced in garden that was put away nicely in the fall. Roof and septic were both relaced in the last couple of years. Home is conveniently located near I 87 and the City of Plattsburgh.

Key facts

• Roomy kitchen
• Enclosed front porch
• 1.66 acre lot

Tags

• SPACIOUS 1.66-ACRE LOT
• NEWLY ADDED PRIMARY BEDROOM
• ATTACHED OFFICE OR GYM SPACE
• ROOMY KITCHEN
• COMFORTABLE LIVING ROOM
• ENCLOSED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $43 ($518/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (5.5% below list).
• Recommended offer: $150k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: employment D+, crime F, commute F.
• Beekmantown Central School District (rural): math 45% / reading 57% proficiency, ranked #360 of 590 in NY (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cumberland Head Elementary School (math 57% / reading 67%, grade B, #675 of 2,108 statewide, top 35%, 538 students, 46% FRL); Beekmantown Middle School (math 30% / reading 53%, grade F, #394 of 729 statewide, top 55%, 450 students, 49% FRL); Beekmantown High School (math 92% / reading 50%, grade B+, #701 of 1,100 statewide, top 64%, 546 students, 49% FRL).
• Market conditions: 184 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $130k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,329 (5.5% below list)

Questions for the listing agent

1. Built in 1926 — 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. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $209,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Wallace Hill Road Rd	0.06mi	3/1.0 (+1)	1,160 (+8%)	8mo	$178,000	$153	72
20 Eddie Drive Dr	0.52mi	3/2.0 (+1)	1,128 (+5%)	3mo	$220,000	$195	55

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

Projected returns pro-forma

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

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-22,963
• Equity at exit: $23,707

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-16,248
• Equity at exit: $13,747

Cash invested: $44,520 (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 12901

• Home prices YoY: -22.5%
• Active inventory: 184
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,503 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$244 /mo · $2,932/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $43

Break-even live

Break-even rent $1,449

Max offer price $159,000

Occupancy floor 92%

Sensitivity live

Price	-10% $133	-5% $88	+0% $43	+5% $-2	+10% $-47
Rent	-10% $-76	-5% $-16	+0% $43	+5% $103	+10% $162
Rate	-1.0pp $123	-0.5pp $84	base $43	+0.5pp $2	+1.0pp $-40

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-06
   status Pending
2. 2026-04-01
   listed $159,000 Active
3. 2023-04-28
   soldstatus $129,900
4. 2023-04-27
   soldstatus $129,900 Closed 403-char remark

   Show marketing remark (403 chars)

   Single level ranch with 2/3 bedrooms on an oversized lot. 3rd bedroom was used as an office. Bright enclosed porch at the front of the home. There is also a three car garage with a workshop area. There is also a large fenced in garden that was put away nicely in the fall. Roof and septic were both relaced in the last couple of years. Home is conveniently located near I 87 and the City of Plattsburgh.

5. 2023-03-26
   status Pending 403-char remark

   Show marketing remark (403 chars)

   Single level ranch with 2/3 bedrooms on an oversized lot. 3rd bedroom was used as an office. Bright enclosed porch at the front of the home. There is also a three car garage with a workshop area. There is also a large fenced in garden that was put away nicely in the fall. Roof and septic were both relaced in the last couple of years. Home is conveniently located near I 87 and the City of Plattsburgh.

6. 2023-03-21
   listed $129,900 Active 403-char remark

   Show marketing remark (403 chars)

   Single level ranch with 2/3 bedrooms on an oversized lot. 3rd bedroom was used as an office. Bright enclosed porch at the front of the home. There is also a three car garage with a workshop area. There is also a large fenced in garden that was put away nicely in the fall. Roof and septic were both relaced in the last couple of years. Home is conveniently located near I 87 and the City of Plattsburgh.

7. 1997-10-27
   soldstatus $53,000
8. 1994-09-29
   soldstatus $50,000

ⓘ 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: $2,932 · $244/mo
• Projected year-2 tax: $2,932 · $244/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $18,039
• − Mortgage interest: −$8,906
• − Property taxes: −$2,932
• − Insurance: −$795
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$4,625
• Taxable loss: −$2,106
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,024/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: Beekmantown Central School District
• NCES district ID: 3604290
• Math proficiency: 45% ▲ 2.00%
• Reading proficiency: 57% ▲ 18.00%
• Median HH income: $53,577
• Composite: 43.91/100
• National rank: #2914
• State rank: #360 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

• 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

+218.0% since first listed

8 events — show timeline

• 2026-04-06 Pending — ACVMLS
• 2026-04-01 Listed $159,000 ACVMLS
• 2023-04-28 Sold (Public Records) $129,900 Public Records
• 2023-04-27 Sold (MLS) $129,900 ACVMLS
• 2023-03-26 Pending — ACVMLS
• 2023-03-21 Listed $129,900 ACVMLS
• 1997-10-27 Sold (Public Records) $53,000 Public Records
• 1994-09-29 Sold (Public Records) $50,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,932 · +9.2% YoY. Source: county tax records.