9 Spring St · Liberty, NY 12754

$380,000

6 bd · 3.0 ba · 3,741 sqft · MultiFamily public records · 7 Days on market

Built 1947 5,663 sqft lot Est $385k · at est.

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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 +26.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +8.1/15.0
• 1% rule +8.0/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Over 3000 sq ft triplex. It has a big 1400 sq ft 3 bedroom with separate entrance & a backyard. Then 2 two bedroom apts each over 750 sq ft. All apts are ready to move in! The 3 bedroom & one 2 bedroom are currently occupied with tenants. They are both paying rent & utilities. All 3 apts have baseboard heating. This is a great investment with a very high cap rate! Act fast; will be gone soon. Current Use = Apartment Building , Electric: Circuit Breaker, BasementDescription: Below Grade,Poured, Additional Information: HeatingFuel:Oil Above Ground,

Key facts

• 5,663 sq ft lot
• Built 1947
• Listed 7 days

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Electric service by NYSEG; Public sewer; Cable available
• Home design: Triplex
• Construction: Block construction
• Exterior features: Block construction; Not waterfront

Interior

• Bedrooms: Two 2-bedroom units and one 3-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Electric heating; No central cooling
• Interior features: First-floor bedroom; Full unfinished basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $988 ($12k/yr) — positive. Per door: $329/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $380k).
• Cap rate 9.4% vs local median 3.8% in Liberty — 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 62/100 on livability (#890 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D+, amenities F, commute F.
• Liberty Central School District (town): math 31% / reading 34% proficiency, ranked #569 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -24% 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 $106k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 11y ago; this cycle's ask is 27043% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $260k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $380,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
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: 1.30% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $385,323
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
299 S Main St	0.44mi	7/4.0 (+1)	3,453 (-8%)	10mo	$355,000	$103	49

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: 32.5%
• Equity multiple: 3.54×
• Total profit: $270,153
• Equity at exit: $342,334

10-year hold

• IRR: 28.0%
• Equity multiple: 8.02×
• Total profit: $746,570
• Equity at exit: $738,256

Cash invested: $106,400 (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 12754

• Home prices YoY: 28.0%
• Active inventory: 65
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $4,949 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$770 /mo · $9,245/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,039
• Net cashflow: $988

Break-even live

Break-even rent $3,698

Max offer price $380,000

Occupancy floor 75%

Sensitivity live

Price	-10% $1,203	-5% $1,096	+0% $988	+5% $881	+10% $773
Rent	-10% $597	-5% $793	+0% $988	+5% $1,184	+10% $1,379
Rate	-1.0pp $1,180	-0.5pp $1,085	base $988	+0.5pp $890	+1.0pp $790

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,950
Total (3 units)			$4,949

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-27
   status Pending
2. 2026-04-30
   historical $1,400
3. 2026-04-30
   historical $1,400
4. 2026-04-25
   listed $1,400
5. 2026-04-25
   listed $1,700
6. 2026-04-23
   listed $380,000 Active
7. 2022-10-05
   soldstatus $260,000
8. 2022-03-05
   historical
9. 2022-02-05
   listed $249,999 Active
10. 2022-01-22
    historical
11. 2019-01-04
    soldstatus $189,000
12. 2017-10-25
    soldstatus $73,500
13. 2017-10-16
    soldstatus $73,500 565-char remark

    Show marketing remark (565 chars)

    Over 3000 sq ft triplex. It has a big 1400 sq ft 3 bedroom with separate entrance & a backyard. Then 2 two bedroom apts each over 750 sq ft. All apts are ready to move in! The 3 bedroom & one 2 bedroom are currently occupied with tenants. They are both paying rent & utilities. All 3 apts have baseboard heating. This is a great investment with a very high cap rate! Act fast; will be gone soon. Current Use = Apartment Building , Electric: Circuit Breaker, BasementDescription: Below Grade,Poured, Additional Information: HeatingFuel:Oil Above Ground,

14. 2017-02-22
    listed $84,999 565-char remark

    Show marketing remark (565 chars)

    Over 3000 sq ft triplex. It has a big 1400 sq ft 3 bedroom with separate entrance & a backyard. Then 2 two bedroom apts each over 750 sq ft. All apts are ready to move in! The 3 bedroom & one 2 bedroom are currently occupied with tenants. They are both paying rent & utilities. All 3 apts have baseboard heating. This is a great investment with a very high cap rate! Act fast; will be gone soon. Current Use = Apartment Building , Electric: Circuit Breaker, BasementDescription: Below Grade,Poured, Additional Information: HeatingFuel:Oil Above Ground,

15. 2016-02-04
    historical
16. 2016-02-04
    historical
17. 2015-10-02
    listed
18. 2015-10-02
    listed $39,900
19. 2003-10-08
    soldstatus $96,500
20. 2001-12-28
    soldstatus $52,000
21. 1988-08-15
    soldstatus $82,500
22. 1982-08-16
    soldstatus $30,000

ⓘ 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: $9,245 · $770/mo
• Projected year-2 tax: $9,245 · $770/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,388
• − Mortgage interest: −$21,286
• − Property taxes: −$9,245
• − Insurance: −$1,900
• − Repairs & maintenance: −$4,751
• − Management: −$4,751
• − Depreciation: −$11,055
• Taxable income: $6,400
• Est. tax owed @ 24.0%: −$1,536
• After-tax cash flow: $10,322/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: Liberty Central School District
• NCES district ID: 3617220
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $43,542
• Composite: 27.65/100
• National rank: #6920
• State rank: #569 of 590 in NY

Livability — Liberty

• Score: 62/100
• State rank: #890
• US rank: #17254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Liberty, NY
• City population: 8,525
• Population (ZIP): 8,525

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Hispanic / Latino 36% Two or more races 8% Black 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 22% · Canada, Dominican Republic, Jamaica
• Languages at home: 71% English-only · Spanish 25% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 100.10%
• Current HPI: 457.3342
• 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

-95.3% since first listed

22 events — show timeline

• 2026-05-27 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Rental Removed $1,400 ONEKEY
• 2026-04-30 Rental Removed $1,400 ONEKEY
• 2026-04-25 Listed for Rent $1,400 ONEKEY
• 2026-04-25 Listed for Rent $1,700 ONEKEY
• 2026-04-23 Listed $380,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-05 Sold (Public Records) $260,000 Public Records
• 2022-03-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-02-05 Listed $249,999 OneKey® MLS as Distributed by MLS Grid
• 2022-01-22 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2019-01-04 Sold (Public Records) $189,000 Public Records
• 2017-10-25 Sold (Public Records) $73,500 Public Records
• 2017-10-16 Sold (MLS) $73,500 OneKey® MLS as Distributed by MLS Grid
• 2017-02-22 Listed $84,999 OneKey® MLS as Distributed by MLS Grid
• 2016-02-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-02-04 Delisted — HGMLS
• 2015-10-02 Listed $39,900 OneKey® MLS as Distributed by MLS Grid
• 2015-10-02 Listed — HGMLS
• 2003-10-08 Sold (Public Records) $96,500 Public Records
• 2001-12-28 Sold (Public Records) $52,000 Public Records
• 1988-08-15 Sold (Public Records) $82,500 Public Records
• 1982-08-16 Sold (Public Records) $30,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $9,245 · +8.4% YoY. Source: county tax records.