109 Putnam Dr · Lake Carmel, NY 10512

$142,000

1 bd · 1.5 ba · 486 sqft · SingleFamily public records · 9 Days on market

Built 1950 4,000 sqft lot

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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).

• Cash flow +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• 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

Expansion Possibilities! Well-maintained Starter Or Weekend Home Or Investor's Delight. Newer Appliances, Updated Kitchen And Updated Tiled Baths, Newer Windows, Cathedral Ceilings With Exposed Wood Beams, New Tiled Kitchen Floor. Septic, Well Pump And Hot Water Heater Are All New! Priced To Move Quickly!

Key facts

• Close to schools
• Cottage-style home
• Close to amenities

Tags

• COTTAGE-STYLE HOME
• FLEXIBLE LIVING SPACE
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Cap rate 9.0% vs local median 2.3% in Lake Carmel — 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 (#650 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Carmel Central School District (suburban): math 46% / reading 63% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Matthew Paterson Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 488 students, 41% FRL); George Fischer Middle School (math 21% / reading 56%, grade F, #437 of 729 statewide, top 60%, 1,130 students, 38% FRL); Carmel High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,365 students, 36% FRL) — zoned schools average 38% FRL vs 17% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 227 active listings in the ZIP; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 24y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,000

Questions for the listing agent

1. Built in 1950 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.16% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,760
• Equity at exit: $21,173

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $23,741
• Equity at exit: $12,278

Cash invested: $39,760 (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 10512

• Home prices YoY: -25.5%
• Active inventory: 227
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,644 medium
• Mortgage (P&I): −$745
• Tax est. 1.5%: −$178 /mo · $2,130/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $318

Break-even live

Break-even rent $1,242

Max offer price $142,000

Occupancy floor 76%

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-03-26
   status Pending
2. 2026-03-17
   listed $142,000 Active
3. 2006-07-14
   soldstatus $165,000
4. 2006-06-28
   soldstatus $165,000 306-char remark

   Show marketing remark (306 chars)

   Expansion Possibilities! Well-maintained Starter Or Weekend Home Or Investor's Delight. Newer Appliances, Updated Kitchen And Updated Tiled Baths, Newer Windows, Cathedral Ceilings With Exposed Wood Beams, New Tiled Kitchen Floor. Septic, Well Pump And Hot Water Heater Are All New! Priced To Move Quickly!

5. 2006-05-15
   price $175,000 306-char remark

   Show marketing remark (306 chars)

   Expansion Possibilities! Well-maintained Starter Or Weekend Home Or Investor's Delight. Newer Appliances, Updated Kitchen And Updated Tiled Baths, Newer Windows, Cathedral Ceilings With Exposed Wood Beams, New Tiled Kitchen Floor. Septic, Well Pump And Hot Water Heater Are All New! Priced To Move Quickly!

6. 2006-05-15
   historical 306-char remark

   Show marketing remark (306 chars)

   Expansion Possibilities! Well-maintained Starter Or Weekend Home Or Investor's Delight. Newer Appliances, Updated Kitchen And Updated Tiled Baths, Newer Windows, Cathedral Ceilings With Exposed Wood Beams, New Tiled Kitchen Floor. Septic, Well Pump And Hot Water Heater Are All New! Priced To Move Quickly!

7. 2006-01-16
   listed $165,000 306-char remark

   Show marketing remark (306 chars)

   Expansion Possibilities! Well-maintained Starter Or Weekend Home Or Investor's Delight. Newer Appliances, Updated Kitchen And Updated Tiled Baths, Newer Windows, Cathedral Ceilings With Exposed Wood Beams, New Tiled Kitchen Floor. Septic, Well Pump And Hot Water Heater Are All New! Priced To Move Quickly!

8. 2006-01-13
   historical
9. 2005-07-27
   listed
10. 2005-07-25
    historical
11. 2005-07-06
    listed
12. 2005-06-20
    historical
13. 2005-01-20
    listed
14. 2003-11-20
    historical
15. 2003-05-20
    listed
16. 2003-01-13
    soldstatus $134,900
17. 2002-11-19
    historical
18. 2002-08-19
    listed
19. 1992-10-06
    soldstatus $22,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,730
• − Mortgage interest: −$7,954
• − Property taxes: −$2,130
• − Insurance: −$710
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$4,131
• Taxable income: $1,648
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $3,415/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: Carmel Central School District
• NCES district ID: 3606570
• Math proficiency: 46% ▼ -15.00%
• Reading proficiency: 63% ▲ 11.00%
• Median HH income: $87,665
• Composite: 50.05/100
• National rank: #1914
• State rank: #258 of 590 in NY

Livability — Lake Carmel

• Score: 66/100
• State rank: #650
• US rank: #12139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Carmel, NY
• Population (ZIP): 24,238

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 1%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 11% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.73%
• Current HPI: 258.8452
• 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

+545.5% since first listed

19 events — show timeline

• 2026-03-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-17 Listed $142,000 OneKey® MLS as Distributed by MLS Grid
• 2006-07-14 Sold (Public Records) $165,000 Public Records
• 2006-06-28 Sold (MLS) $165,000 HGMLS
• 2006-05-15 Delisted — HGMLS
• 2006-05-15 Price Changed $175,000 HGMLS
• 2006-01-16 Listed $165,000 HGMLS
• 2006-01-13 Delisted — HGMLS
• 2005-07-27 Listed — HGMLS
• 2005-07-25 Delisted — HGMLS
• 2005-07-06 Listed — HGMLS
• 2005-06-20 Delisted — HGMLS
• 2005-01-20 Listed — HGMLS
• 2003-11-20 Delisted — HGMLS
• 2003-05-20 Listed — HGMLS
• 2003-01-13 Sold (Public Records) $134,900 Public Records
• 2002-11-19 Delisted — HGMLS
• 2002-08-19 Listed — HGMLS
• 1992-10-06 Sold (Public Records) $22,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $7,821 · +20.7% YoY. Source: county tax records.