15&17 Pine Rd · Lake Luzerne, NY 12846

$300,000

3 bd · 2.0 ba · 1,140 sqft · SingleFamily · 12 Days on market

Built 2003 Good condition 6,098 sqft lot Est $278k · 8% over

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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 +23.9/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Schools +4.2/10.0
• ARV discount +4.0/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

*MULTIPLE OFFERS - best & final due 10/2 by 12pm* Don't miss this one-of-a kind three-season property nestled on a quaint street, just a short walk from public beach on Lake Luzerne. This property offers two buildings with a total of 3 bedrooms and a loft. The fully renovated black cabin offers a cozy, open-concept interior. This cabin includes new electrical, plumbing, windows, and roof. Adjacent to the cabin you'll find what makes this property one-of-a-kind. Tucked inside the shell of the building is a 1920 Russell Sweeper Trolley Car. As you approach, you'll be captivated by the the unique decor. The exterior boasts a mural by a local artist showing the car in action, while the charming interior is thoughtfully designed to allow for extra space to entertain family and friends.

Key facts

• Renovated cabin
• Wraparound deck
• Two unique homes

Tags

• WALK FROM LAKE LUZERNE
• TWO UNIQUE HOMES
• RENOVATED CABIN
• OPEN-CONCEPT INTERIOR
• WRAPAROUND DECK
• FULLY FURNISHED

Property features AI

Exterior

• Parking: Off-street parking; Driveway; Total of 4 parking spaces
• Utilities: Public water; Septic sewer
• Home design: Cabin property; Entry on the first level
• Construction: Wood siding
• Exterior features: Other exterior features; Waterfront on Lake Luzerne

Interior

• Kitchen: Electric oven; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the first level; Additional loft on the second level
• Bathrooms: Two full bathrooms on the first level
• Heating & cooling: Baseboard heating (electric); Other heating; Wall unit cooling
• Interior features: Family room; Dining room; Loft; Entry; Has electric fireplace; 12 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 8.6% vs local median 7.0% in Lake Luzerne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#682 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Hadley-Luzerne Central School District (rural): math 41% / reading 57% proficiency, ranked #396 of 590 in NY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stuart M Townsend Elementary School (math 27% / reading 47%, grade F, #1,519 of 2,108 statewide, top 74%, 340 students, 52% FRL); Hadley-Luzerne Junior-Senior High School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 304 students, 54% FRL).
• Market conditions: 39 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 $32k of equity ($2k loan paydown + $30k 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 $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 $250k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $300,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $278,160
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Mill St	0.36mi	3/3.0	1,170 (+3%)	2mo	$285,000	$244	73
23 Traver St	0.38mi	3/2.0	1,150 (+1%)	22mo	$179,900	$156	62
11 Bay Rd	0.51mi	3/2.0	1,154 (+1%)	22mo	$449,000	$389	56
94 Sagamore St	0.41mi	2/1.0 (-1)	1,050 (-8%)	3mo	$230,000	$219	56
42 Sylvan Rd	0.16mi	2/2.0 (-1)	1,000 (-12%)	24mo	$385,000	$385	47
155 Sagamore Dr	0.46mi	3/2.0	1,040 (-9%)	22mo	$355,000	$341	45
11 Stewart Dr	0.72mi	3/2.0	1,250 (+10%)	8mo	$273,200	$219	43

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: 30.3%
• Equity multiple: 3.39×
• Total profit: $200,360
• Equity at exit: $270,264

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $561,093
• Equity at exit: $582,834

Cash invested: $84,000 (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 12846

• Home prices YoY: 16.1%
• Active inventory: 39
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,358 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $580

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 78%

Sensitivity live

Price	-10% $787	-5% $683	+0% $580	+5% $476	+10% $372
Rent	-10% $314	-5% $447	+0% $580	+5% $712	+10% $845
Rate	-1.0pp $731	-0.5pp $656	base $580	+0.5pp $502	+1.0pp $423

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-12
   statusdays on market $300,000 Pending 12 DOM
2. 2026-06-09
   days on market $300,000 Active 11 DOM
3. 2026-06-08
   days on market $300,000 Active 10 DOM
4. 2026-06-07
   days on market $300,000 Active 9 DOM
5. 2026-06-05
   days on market $300,000 Active 7 DOM
6. 2026-06-04
   days on market $300,000 Active 5 DOM
7. 2026-06-02
   days on market $300,000 Active 4 DOM
8. 2026-06-01
   days on market $300,000 Active 3 DOM
9. 2026-05-31
   days on market $300,000 Active 2 DOM
10. 2026-05-29
    listed $300,000 Active
11. 2025-12-31
    historical
12. 2025-04-28
    listed $295,000 Active
13. 2023-10-19
    soldstatus $250,000 Closed 795-char remark

    Show marketing remark (795 chars)

    *MULTIPLE OFFERS - best & final due 10/2 by 12pm* Don't miss this one-of-a kind three-season property nestled on a quaint street, just a short walk from public beach on Lake Luzerne. This property offers two buildings with a total of 3 bedrooms and a loft. The fully renovated black cabin offers a cozy, open-concept interior. This cabin includes new electrical, plumbing, windows, and roof. Adjacent to the cabin you'll find what makes this property one-of-a-kind. Tucked inside the shell of the building is a 1920 Russell Sweeper Trolley Car. As you approach, you'll be captivated by the the unique decor. The exterior boasts a mural by a local artist showing the car in action, while the charming interior is thoughtfully designed to allow for extra space to entertain family and friends.

14. 2023-10-03
    status Pending 795-char remark

    Show marketing remark (795 chars)

    *MULTIPLE OFFERS - best & final due 10/2 by 12pm* Don't miss this one-of-a kind three-season property nestled on a quaint street, just a short walk from public beach on Lake Luzerne. This property offers two buildings with a total of 3 bedrooms and a loft. The fully renovated black cabin offers a cozy, open-concept interior. This cabin includes new electrical, plumbing, windows, and roof. Adjacent to the cabin you'll find what makes this property one-of-a-kind. Tucked inside the shell of the building is a 1920 Russell Sweeper Trolley Car. As you approach, you'll be captivated by the the unique decor. The exterior boasts a mural by a local artist showing the car in action, while the charming interior is thoughtfully designed to allow for extra space to entertain family and friends.

15. 2023-09-26
    listed $199,900 Active 795-char remark

    Show marketing remark (795 chars)

    *MULTIPLE OFFERS - best & final due 10/2 by 12pm* Don't miss this one-of-a kind three-season property nestled on a quaint street, just a short walk from public beach on Lake Luzerne. This property offers two buildings with a total of 3 bedrooms and a loft. The fully renovated black cabin offers a cozy, open-concept interior. This cabin includes new electrical, plumbing, windows, and roof. Adjacent to the cabin you'll find what makes this property one-of-a-kind. Tucked inside the shell of the building is a 1920 Russell Sweeper Trolley Car. As you approach, you'll be captivated by the the unique decor. The exterior boasts a mural by a local artist showing the car in action, while the charming interior is thoughtfully designed to allow for extra space to entertain family and friends.

16. 2021-07-30
    soldstatus $110,000 Closed (Final Sale)
17. 2021-06-09
    status Pend (Under Cntr)
18. 2021-04-25
    listed $110,000 New

ⓘ 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 ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $40,298
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,224
• − Management: −$3,224
• − Depreciation: −$8,727
• Taxable income: $2,318
• Est. tax owed @ 24.0%: −$556
• After-tax cash flow: $6,400/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 · 12 photos

Good 75/100 Cosmetic rehab

This charming cabin is in good condition with a well-maintained exterior and interior. It offers a cozy, open-concept living space and is located near a public beach, making it ideal for both resale and rental.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hadley-Luzerne Central School District
• NCES district ID: 3613110
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 57% ▲ 2.00%
• Median HH income: $52,974
• Composite: 42.18/100
• National rank: #3292
• State rank: #396 of 590 in NY

Livability — Lake Luzerne

• Score: 65/100
• State rank: #682
• US rank: #12851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Luzerne, NY
• Population (ZIP): 3,007

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 (98%)
• Race & ethnicity: White 98%
• Common ancestry: Romanian 10% Lithuanian 10% German 5%
• Foreign-born: 1% · Canada

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: ▲ 46.73%
• Current HPI: 336.2179
• 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

+172.7% since first listed

9 events — show timeline

• 2026-05-29 Listed $300,000 Global MLS
• 2025-12-31 Listing Removed — Global MLS
• 2025-04-28 Listed $295,000 Global MLS
• 2023-10-19 Sold (MLS) $250,000 Global MLS
• 2023-10-03 Pending — Global MLS
• 2023-09-26 Listed $199,900 Global MLS
• 2021-07-30 Sold (MLS) $110,000 Global MLS
• 2021-06-09 Pending — Global MLS
• 2021-04-25 Listed $110,000 Global MLS