7 Whiteface Inn Lane Ln #114 · Lake Placid, NY 12946

$38,000

1 bd · 1.0 ba · 676 sqft · Townhouse public records · 918 Days on market

Built 2005 435 sqft lot $56/sqft · 10% below area Est $42k · 10% under $237/mo HOA · 28% of rent

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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
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

Key facts

• Garage
• Pool
• Built 2005

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $38k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 1.6% 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: employment D+, cost of living D+, commute F.
• 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.
• Zoned schools: Lake Placid Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 244 students, 33% FRL); Lake Placid Junior-Senior High School (math 42% / reading 52%, grade D-, #1,007 of 1,100 statewide, top 93%, 294 students, 36% FRL).
• Market conditions: 148 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 $263 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 918 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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: HOA is 28% of rent.

Recommended offer $33,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 918 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. 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.
6. 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.
7. 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: 2.22% ✓
• Cap rate: 12.68%
• Cash-on-cash: 22.80%
• DSCR: 2.01
• GRM: 3.8

CMA / ARV

• ARV (median comp): $42,198
• List price: $38,000
• Delta: -9.95%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.0%
• Equity multiple: 1.64×
• Total profit: $6,853
• Equity at exit: $5,666

10-year hold

• IRR: 24.7%
• Equity multiple: 3.17×
• Total profit: $23,098
• Equity at exit: $3,286

Cash invested: $10,640 (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: 148
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $842 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$11 /mo · $130/yr
• Insurance: −$16
• HOA: −$237
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $202

Break-even live

Break-even rent $586

Max offer price $38,000

Occupancy floor 71%

Sensitivity live

Price	-10% $224	-5% $213	+0% $202	+5% $191	+10% $181
Rent	-10% $136	-5% $169	+0% $202	+5% $235	+10% $269
Rate	-1.0pp $221	-0.5pp $212	base $202	+0.5pp $192	+1.0pp $182

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $237 · $2,844/yr
• Likely covers: poolgym

Listing history 24 events

1. 2026-06-21
   days on market $38,000 Active 918 DOM
2. 2026-06-21
   days on market $38,000 Active 917 DOM
3. 2026-06-18
   days on market $38,000 Active 915 DOM
4. 2026-06-17
   days on market $38,000 Active 914 DOM
5. 2026-06-16
   days on market $38,000 Active 913 DOM
6. 2026-06-15
   days on market $38,000 Active 912 DOM
7. 2026-06-13
   days on market $38,000 Active 910 DOM
8. 2026-06-12
   days on market $38,000 Active 909 DOM
9. 2026-06-09
   days on market $38,000 Active 906 DOM
10. 2026-06-08
    days on market $38,000 Active 905 DOM
11. 2026-06-07
    days on market $38,000 Active 904 DOM
12. 2026-06-07
    days on market $38,000 Active 903 DOM
13. 2026-06-04
    days on market $38,000 Active 900 DOM
14. 2026-06-02
    days on market $38,000 Active 899 DOM
15. 2026-06-01
    days on market $38,000 Active 898 DOM
16. 2026-05-31
    days on market $38,000 Active 897 DOM
17. 2026-03-19
    status Active 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

18. 2026-03-07
    historical 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

19. 2026-01-02
    status Active 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

20. 2026-01-01
    historical 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

21. 2024-11-27
    status Active 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

22. 2024-11-23
    historical 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

23. 2023-11-27
    listed $38,000 Active 533-char remark

    Show marketing remark (533 chars)

    The Whiteface Lodge is located in Lake Placid and in the heart of the Adirondack Mountains. This is a Great Camp-styled resort where you'll instantly feel at home. Enjoy year-round amenities like an indoor/outdoor pool, spa, gym, movie theatre, bowling alley, trout pond, ice rink, and a private beach area on Lake Placid. Unit 114 is a full one bedroom, 1 bath residence that will sleep four in comfort. Take in the views of the Mackenzie Range and the courtyard. This offering is for a 1/12 deed in the Whiteface Lodge; interval 6.

24. 2013-09-09
    soldstatus $37,500

ⓘ 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: $130 · $11/mo
• Projected year-2 tax: $386 · $32/mo
• Expected delta: +$256/yr (+$21/mo · 196.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥88°F today · 18 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: $10,103
• − Mortgage interest: −$2,129
• − Property taxes: −$130
• − Insurance: −$190
• − Repairs & maintenance: −$808
• − Management: −$808
• − HOA: −$2,844
• − Depreciation: −$1,105
• Taxable income: $2,088
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $1,925/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

• 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

+1.3% since first listed

8 events — show timeline

• 2026-03-19 Relisted — ACVMLS
• 2026-03-07 Delisted — ACVMLS
• 2026-01-02 Relisted — ACVMLS
• 2026-01-01 Delisted — ACVMLS
• 2024-11-27 Relisted — ACVMLS
• 2024-11-23 Delisted — ACVMLS
• 2023-11-27 Listed $38,000 ACVMLS
• 2013-09-09 Sold (Public Records) $37,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $130 · -5.2% YoY. Source: county tax records.