59 Montcalm St · Ticonderoga, NY 12883

$209,900

5 bd · 5.0 ba · 3,137 sqft · MultiFamily · 90 Days on market

Built 1930 Poor condition 0.40 ac lot $67/sqft · 53% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent main street investment opportunity. 3 apartments ( full and rents up to date) and a commercial rental pizzeria/restaurant/takeout fully furnished. Town sewer and water. Walk to all facilities! Great visibility and traffic count. Be a part of the downtown revitalization going on.

Key facts

• Commercial rental
• Town sewer and water
• 0.4 acre lot

Tags

• COMMERCIAL RENTAL
• TOWN SEWER AND WATER
• WALK TO ALL FACILITIES

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $210k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 3.9% in Ticonderoga — 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 77/100 on livability (#182 in NY, #2,828 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities D+, commute F.
• Ticonderoga Central School District (rural): math 41% / reading 50% proficiency, ranked #459 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ticonderoga Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 360 students, 65% FRL); Ticonderoga Junior-Senior High School (math 42% / reading 47%, grade F, #1,032 of 1,100 statewide, top 95%, 359 students, 57% FRL) — zoned schools average 61% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).
• At $4,200/mo this rent would consume 75% of the median local household income ($68k/yr) (locally 15% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Essex County population projected at -20% 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 $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask is 20% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $197,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.00% ✓
• Cap rate: 16.97%
• Cash-on-cash: 38.13%
• DSCR: 2.70
• GRM: 4.2

CMA / ARV

• ARV (median comp): $447,566
• List price: $209,900
• Delta: -53.10%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 Champlain Ave	0.27mi	5/4.0	3,410 (+9%)	29mo	$215,000	$63	49
149 Champlain Ave	0.27mi	5/2.0	2,766 (-12%)	14mo	$270,890	$98	44
126 Lake George Ave	0.23mi	4/2.5 (-1)	2,260 (-28%)	23mo	$132,800	$59	30
27 Water St	1.01mi	6/3.0 (+1)	2,600 (-17%)	2mo	$998,000	$384	26
21 Mossy Point Rd	2.09mi	3/4.0 (-2)	3,789 (+21%)	3mo	$2,500,000	$660	24
17 Mossy Point Rd	2.12mi	3/3.5 (-2)	3,260 (+4%)	26mo	$1,800,000	$552	22
8 Calkins Pl	0.48mi	4/3.0 (-1)	2,208 (-30%)	29mo	$199,900	$91	20
96 Champlain Ave	0.45mi	4/2.0 (-1)	2,428 (-23%)	38mo	$259,900	$107	17
8 Spruce Cir	1.27mi	4/3.0 (-1)	2,688 (-14%)	36mo	$302,500	$113	8
54 Stoughton Dr	1.74mi	4/2.5 (-1)	2,480 (-21%)	21mo	$1,374,000	$554	8
119 The Portage	0.68mi	4/2.0 (-1)	2,390 (-24%)	33mo	$215,500	$90	6
259 Delano Rd	1.99mi	4/1.5 (-1)	2,310 (-26%)	24mo	$55,000	$24	1

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

Projected returns pro-forma

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

5-year hold

• IRR: 53.7%
• Equity multiple: 4.97×
• Total profit: $233,318
• Equity at exit: $189,095

10-year hold

• IRR: 47.3%
• Equity multiple: 11.10×
• Total profit: $593,677
• Equity at exit: $407,790

Cash invested: $58,772 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $395,000 ($113/sqft)
• Median days on market: 401 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +26.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12883

• Home prices YoY: 14.5%
• Active inventory: 87
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $4,200 medium
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,148/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $1,867

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,200
Total (3 units)			$4,200

Break-even live

Break-even rent $1,836

Max offer price $209,900

Occupancy floor 51%

Sensitivity live

Price	-10% $2,012	-5% $1,940	+0% $1,867	+5% $1,795	+10% $1,722
Rent	-10% $1,536	-5% $1,702	+0% $1,867	+5% $2,033	+10% $2,199
Rate	-1.0pp $1,973	-0.5pp $1,921	base $1,867	+0.5pp $1,813	+1.0pp $1,758

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: $52,475
• Closing costs: $6,297
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Callahan Dr Unit 2 Ticonderoga, NY	1.0	1.0	500	$850	$1.70	184d	1	0.12mi
3 Park Ave Ticonderoga, NY	1.0	1.0	400	$1,050	$2.62	47d	1	0.20mi
25 Mount Hope Ave Ticonderoga, NY	2.0	1.0	700	$1,400	$2.00	37d	1	0.21mi

Listing history 50 events

1. 2026-11-08
   days on market $209,900 Active 90 DOM
2. 2026-11-07
   days on market $209,900 Active 89 DOM
3. 2026-11-06
   days on market $209,900 Active 88 DOM
4. 2026-11-05
   days on market $209,900 Active 87 DOM
5. 2026-11-04
   days on market $209,900 Active 86 DOM
6. 2026-11-02
   days on market $209,900 Active 84 DOM
7. 2026-11-01
   days on market $209,900 Active 83 DOM
8. 2026-10-31
   days on market $209,900 Active 82 DOM
9. 2026-10-31
   days on market $209,900 Active 81 DOM
10. 2026-10-29
    days on market $209,900 Active 80 DOM
11. 2026-10-28
    days on market $209,900 Active 79 DOM
12. 2026-10-27
    pricedays on market $209,900 Active 78 DOM
13. 2026-10-26
    days on market $199,900 Active 77 DOM
14. 2026-10-25
    days on market $199,900 Active 76 DOM
15. 2026-10-24
    days on market $199,900 Active 75 DOM
16. 2026-10-23
    days on market $199,900 Active 74 DOM
17. 2026-10-22
    days on market $199,900 Active 73 DOM
18. 2026-10-21
    days on market $199,900 Active 72 DOM
19. 2026-10-20
    days on market $199,900 Active 71 DOM
20. 2026-10-19
    days on market $199,900 Active 70 DOM
21. 2026-10-18
    days on market $199,900 Active 69 DOM
22. 2026-10-17
    days on market $199,900 Active 68 DOM
23. 2026-10-16
    days on market $199,900 Active 67 DOM
24. 2026-10-15
    days on market $199,900 Active 66 DOM
25. 2026-10-14
    days on market $199,900 Active 65 DOM
26. 2026-10-13
    days on market $199,900 Active 64 DOM
27. 2026-10-11
    days on market $199,900 Active 62 DOM
28. 2026-10-10
    days on market $199,900 Active 61 DOM
29. 2026-10-09
    days on market $199,900 Active 60 DOM
30. 2026-10-08
    days on market $199,900 Active 59 DOM
31. 2026-10-07
    days on market $199,900 Active 58 DOM
32. 2026-10-06
    days on market $199,900 Active 57 DOM
33. 2026-10-05
    days on market $199,900 Active 56 DOM
34. 2026-10-04
    days on market $199,900 Active 55 DOM
35. 2026-10-03
    days on market $199,900 Active 54 DOM
36. 2026-10-02
    days on market $199,900 Active 53 DOM
37. 2026-10-01
    days on market $199,900 Active 52 DOM
38. 2026-09-30
    days on market $199,900 Active 51 DOM
39. 2026-09-29
    days on market $199,900 Active 50 DOM
40. 2026-09-28
    days on market $199,900 Active 49 DOM
41. 2026-09-27
    days on market $199,900 Active 48 DOM
42. 2026-09-26
    days on market $199,900 Active 47 DOM
43. 2026-09-25
    days on market $199,900 Active 46 DOM
44. 2026-09-24
    days on market $199,900 Active 45 DOM
45. 2026-09-23
    days on market $199,900 Active 44 DOM
46. 2026-09-21
    days on market $199,900 Active 42 DOM
47. 2026-09-20
    days on market $199,900 Active 41 DOM
48. 2026-09-19
    days on market $199,900 Active 39 DOM
49. 2026-09-17
    days on market $199,900 Active 38 DOM
50. 2026-09-17
    days on market $199,900 Active 37 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $50,400
• − Mortgage interest: −$11,758
• − Property taxes: −$3,148
• − Insurance: −$1,050
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − Depreciation: −$6,106
• Taxable income: $20,274
• Est. tax owed @ 24.0%: −$4,866
• After-tax cash flow: $17,543/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.

Condition & rehab AI · 4 photos

Poor 20/100 Extensive rehab Est. rehab $156,850–$282,330 screening

This multi-family property requires extensive repairs and renovations to bring it up to a livable and marketable condition.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major roof — Signs of aging or damage
• Major flooring — Visible wear and tear
• Major interior walls/paint — Painted walls appear old and dull
• Major HVAC/mechanicals — No visible photos of systems

Value-add opportunities

• Both exterior renovation — Enhances curb appeal and property value ↑
• Both interior renovation — Improves living conditions and rental appeal ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Ticonderoga Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 High Ticonderoga Junior-Senior High School F NY #1,032/1,100 Nat'l #6,890/17,239

Schools (NCES district)

• District: Ticonderoga Central School District
• NCES district ID: 3628680
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 50% ▲ 7.00%
• Median HH income: $46,111
• Composite: 38.65/100
• National rank: #4150
• State rank: #459 of 590 in NY

B Composite livability gradescore 77/100

Livability — Ticonderoga

• Score: 77/100
• State rank: #182
• US rank: #2828

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ticonderoga, NY
• County: Essex · 36,758 people
• Population (ZIP): 4,781
• Household income: $67,532
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 15% of renters

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Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

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Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 38.24%
• Current HPI: 301.3984
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

+25.0% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $199,900 Global MLS
• 2026-01-26 Price Changed $179,000 Global MLS
• 2026-01-26 Relisted — Global MLS
• 2026-01-07 Relisted — Global MLS
• 2025-07-23 Contingent — Global MLS
• 2025-07-23 Listing Removed — Global MLS
• 2025-07-14 Listed $175,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2022-10-18 Pending — Global MLS
• 2022-04-21 Listing Removed — Global MLS
• 2020-06-30 Listed $159,900 Global MLS