101 Morningside Dr Unit BLD 8, unit 36, week 8 · Lake Placid, NY 12946

$4,500

2 bd · 2.0 ba · 1,704 sqft · SingleFamily · 620 Days on market

Built 1981 435 sqft lot $3/sqft · 99% below area $74/mo HOA · 6% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The purchase of a timeshare vacation week at the Lake Placid Club Lodges offers you an annual opportunity to enjoy the natural wonders of the Adirondacks and the exciting and vibrant venues of Lake Placid. The beautiful and spacious lodges, located within walking distance of all of the sites, sounds and tastes of picturesque Lake Placid Village, can be your vacation home of a lifetime for just a fraction of the cost of a regular vacation property. If you are not familiar with the unique world of timeshare vacation ownership, our staff is available to answer any questions you may have. In the meantime, the following information may be helpful to you as you move forward deciding on your investment. • The newly renovated and refurbished Lake Placid Club Lodges is a 'sold-out' Resort. This limits the purchase of a timeshare vacation week at our Resort to a purchase from a current owner. The good news is that you will never feel the high-pressure sales atmosphere you may find at other timeshare resorts. The bad news is that there are only a few weeks available for sale at any given time. • The timeshare intervals at Lake Placid Club Lodges are 'fixed' weeks, in that you own a specific week in a specific lodge. We do not have 'float' time or revolving times. The lodge you purchase is the one you will use each year. The start date of each week is based on the RCI exchange calendar, the standard calendar used by the majority of time-share resorts throughout the world. A copy is attached for your review. • Ownership at the Lake Placid Club Lodges is 'fee simple' meaning owners receive a deed, which has no time restriction, is fully willable, and can be used as with any equity property. • Owners in good standing are members of the Lake Placid Club Lodges Owners' Association and have voting rights equal to their ownership percentage. Annual operating and reserve expenses total $ 888.00 per week in 2024. In addition local real estate taxes, billed to each owner

Key facts

• Fee simple ownership
• 2 parking spots
• Built 1981

Tags

• THE LAKE PLACID CLUB LODGES
• NEWLY RENOVATED LODGES
• FEE SIMPLE OWNERSHIP

🏷️ Possibly a rental listed for sale. The $4,500 price doesn't fit this home's estimated sale value (~$437,263) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $4k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $4k).
• Recommended offer: $4k (12.0% below list) — sets the bar for market timing.
• Cap rate 242.0% vs local median 1.9% in Lake Placid — 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 66/100 on livability (#647 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, crime A; Watch: schools C-, employment D+, cost of living D+.
• Lake Placid Central School District (town): math 46% / reading 58% proficiency, ranked #344 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 139 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $31 of loan paydown is wiped out by about $135 of value loss. Plan a longer hold.
• Essex County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 620 days — a 12% lower offer ($4k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $3,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 620 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 27.82% ✓
• Cap rate: 241.99%
• Cash-on-cash: 841.79%
• DSCR: 38.45
• GRM: 0.3

CMA / ARV

• ARV (median comp): $437,263
• List price: $4,500
• Delta: -98.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Morningside Dr Bldg 8, unit 38, week	0.00mi	2/2.0	1,704 (0%)	8mo	$6,000	$4	93
44 Morningside Dr Bldg 1, unit 2, week	0.14mi	2/2.0	1,704 (0%)	10mo	$2,500	$1	85
20 Morningside Dr Bldg 3, unit 15, week	0.18mi	2/2.0	1,704 (0%)	10mo	$6,500	$4	83
20 Morningside Dr Bldg 3, unit 14, week	0.18mi	2/2.0	1,760 (+3%)	10mo	$5,000	$3	78
28 Morningside Dr Bldg 2, unit 8, week	0.18mi	2/2.0	1,704 (0%)	19mo	$2,500	$1	76
28 Morningside Dr Bldg 2, unit 7, week	0.18mi	2/2.0	1,704 (0%)	19mo	$4,500	$3	76
242 Hurley Ave	0.56mi	3/2.0 (+1)	1,600 (-6%)	10mo	$475,000	$297	50
64 Mc Kinley St	0.55mi	3/2.5 (+1)	1,472 (-14%)	3mo	$390,000	$265	42
29 Trillium Dr	0.74mi	3/2.0 (+1)	1,560 (-8%)	11mo	$500,000	$321	37
32 Kate Smith Avenue Ave	0.59mi	3/1.0 (+1)	1,852 (+9%)	14mo	$415,000	$224	37

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: —
• Equity multiple: 45.15×
• Total profit: $55,630
• Equity at exit: $671

10-year hold

• IRR: —
• Equity multiple: 97.18×
• Total profit: $121,191
• Equity at exit: $389

Cash invested: $1,260 (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 12946

• Home prices YoY: -21.5%
• Active inventory: 139
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,252 medium
• Mortgage (P&I): −$24
• Tax est. 1.5%: −$6 /mo · $68/yr
• Insurance: −$2
• HOA: −$74
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $884

Break-even live

Break-even rent $133

Max offer price $4,500

Occupancy floor 24%

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: $1,125
• Closing costs: $135
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $74 · $888/yr

Listing history 17 events

1. 2026-06-18
   days on market $4,500 Active 620 DOM
2. 2026-06-17
   days on market $4,500 Active 619 DOM
3. 2026-06-16
   days on market $4,500 Active 618 DOM
4. 2026-06-15
   days on market $4,500 Active 617 DOM
5. 2026-06-13
   days on market $4,500 Active 615 DOM
6. 2026-06-12
   days on market $4,500 Active 614 DOM
7. 2026-06-09
   days on market $4,500 Active 611 DOM
8. 2026-06-08
   days on market $4,500 Active 610 DOM
9. 2026-06-07
   days on market $4,500 Active 609 DOM
10. 2026-06-07
    days on market $4,500 Active 608 DOM
11. 2026-06-04
    days on market $4,500 Active 605 DOM
12. 2026-06-02
    days on market $4,500 Active 604 DOM
13. 2026-06-01
    days on market $4,500 Active 603 DOM
14. 2026-05-31
    days on market $4,500 Active 602 DOM
15. 2025-10-07
    status Active 2003-char remark

    Show marketing remark (2003 chars)

    The purchase of a timeshare vacation week at the Lake Placid Club Lodges offers you an annual opportunity to enjoy the natural wonders of the Adirondacks and the exciting and vibrant venues of Lake Placid. The beautiful and spacious lodges, located within walking distance of all of the sites, sounds and tastes of picturesque Lake Placid Village, can be your vacation home of a lifetime for just a fraction of the cost of a regular vacation property. If you are not familiar with the unique world of timeshare vacation ownership, our staff is available to answer any questions you may have. In the meantime, the following information may be helpful to you as you move forward deciding on your investment. • The newly renovated and refurbished Lake Placid Club Lodges is a 'sold-out' Resort. This limits the purchase of a timeshare vacation week at our Resort to a purchase from a current owner. The good news is that you will never feel the high-pressure sales atmosphere you may find at other timeshare resorts. The bad news is that there are only a few weeks available for sale at any given time. • The timeshare intervals at Lake Placid Club Lodges are 'fixed' weeks, in that you own a specific week in a specific lodge. We do not have 'float' time or revolving times. The lodge you purchase is the one you will use each year. The start date of each week is based on the RCI exchange calendar, the standard calendar used by the majority of time-share resorts throughout the world. A copy is attached for your review. • Ownership at the Lake Placid Club Lodges is 'fee simple' meaning owners receive a deed, which has no time restriction, is fully willable, and can be used as with any equity property. • Owners in good standing are members of the Lake Placid Club Lodges Owners' Association and have voting rights equal to their ownership percentage. Annual operating and reserve expenses total $ 888.00 per week in 2024. In addition local real estate taxes, billed to each owner

16. 2025-09-06
    historical 2003-char remark

    Show marketing remark (2003 chars)

    The purchase of a timeshare vacation week at the Lake Placid Club Lodges offers you an annual opportunity to enjoy the natural wonders of the Adirondacks and the exciting and vibrant venues of Lake Placid. The beautiful and spacious lodges, located within walking distance of all of the sites, sounds and tastes of picturesque Lake Placid Village, can be your vacation home of a lifetime for just a fraction of the cost of a regular vacation property. If you are not familiar with the unique world of timeshare vacation ownership, our staff is available to answer any questions you may have. In the meantime, the following information may be helpful to you as you move forward deciding on your investment. • The newly renovated and refurbished Lake Placid Club Lodges is a 'sold-out' Resort. This limits the purchase of a timeshare vacation week at our Resort to a purchase from a current owner. The good news is that you will never feel the high-pressure sales atmosphere you may find at other timeshare resorts. The bad news is that there are only a few weeks available for sale at any given time. • The timeshare intervals at Lake Placid Club Lodges are 'fixed' weeks, in that you own a specific week in a specific lodge. We do not have 'float' time or revolving times. The lodge you purchase is the one you will use each year. The start date of each week is based on the RCI exchange calendar, the standard calendar used by the majority of time-share resorts throughout the world. A copy is attached for your review. • Ownership at the Lake Placid Club Lodges is 'fee simple' meaning owners receive a deed, which has no time restriction, is fully willable, and can be used as with any equity property. • Owners in good standing are members of the Lake Placid Club Lodges Owners' Association and have voting rights equal to their ownership percentage. Annual operating and reserve expenses total $ 888.00 per week in 2024. In addition local real estate taxes, billed to each owner

17. 2024-09-05
    listed $4,500 Active 2003-char remark

    Show marketing remark (2003 chars)

    The purchase of a timeshare vacation week at the Lake Placid Club Lodges offers you an annual opportunity to enjoy the natural wonders of the Adirondacks and the exciting and vibrant venues of Lake Placid. The beautiful and spacious lodges, located within walking distance of all of the sites, sounds and tastes of picturesque Lake Placid Village, can be your vacation home of a lifetime for just a fraction of the cost of a regular vacation property. If you are not familiar with the unique world of timeshare vacation ownership, our staff is available to answer any questions you may have. In the meantime, the following information may be helpful to you as you move forward deciding on your investment. • The newly renovated and refurbished Lake Placid Club Lodges is a 'sold-out' Resort. This limits the purchase of a timeshare vacation week at our Resort to a purchase from a current owner. The good news is that you will never feel the high-pressure sales atmosphere you may find at other timeshare resorts. The bad news is that there are only a few weeks available for sale at any given time. • The timeshare intervals at Lake Placid Club Lodges are 'fixed' weeks, in that you own a specific week in a specific lodge. We do not have 'float' time or revolving times. The lodge you purchase is the one you will use each year. The start date of each week is based on the RCI exchange calendar, the standard calendar used by the majority of time-share resorts throughout the world. A copy is attached for your review. • Ownership at the Lake Placid Club Lodges is 'fee simple' meaning owners receive a deed, which has no time restriction, is fully willable, and can be used as with any equity property. • Owners in good standing are members of the Lake Placid Club Lodges Owners' Association and have voting rights equal to their ownership percentage. Annual operating and reserve expenses total $ 888.00 per week in 2024. In addition local real estate taxes, billed to each owner

ⓘ 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 1/10 Low 7 d/yr ≥88°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $15,022
• − Mortgage interest: −$252
• − Property taxes: −$68
• − Insurance: −$22
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − HOA: −$888
• − Depreciation: −$131
• Taxable income: $11,258
• Est. tax owed @ 24.0%: −$2,702
• After-tax cash flow: $7,905/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: Lake Placid Central School District
• NCES district ID: 3616500
• Math proficiency: 46% ▼ -1.00%
• Reading proficiency: 58% ▲ 13.00%
• Median HH income: $52,508
• Composite: 44.64/100
• National rank: #2770
• State rank: #344 of 590 in NY

Livability — Lake Placid

• Score: 66/100
• State rank: #647
• US rank: #12118

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Placid, NY
• Population (ZIP): 4,805

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Romanian 5% American 5%
• Foreign-born: 10% · Canada
• Languages at home: 87% English-only · Russian/Polish/Slavic 8% Spanish 3% Other Indo-European 2%

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: ▼ -85.84%
• Current HPI: 313.7624
• 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

3 events — show timeline

• 2025-10-07 Relisted — ACVMLS
• 2025-09-06 Delisted — ACVMLS
• 2024-09-05 Listed $4,500 ACVMLS