11 Howard Ave · Malone, NY 12953

$89,900

5 bd · 2.0 ba · 2,057 sqft · MultiFamily public records · 52 Days on market

Built 1900 3,484 sqft lot $44/sqft · 62% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

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

Listing remarks MLS

This up and down duplex is in good condition, and would make for an ideal first time investment opportunity! There is a 3 Bedroom main floor unit, with a 2 Bedroom upstairs unit. Tenants pay their own heat and electric. With a gross potential income of $16,800.00 per year, this property should produce north of a 15% return on investment after expenses. Listing agent will offer Property Management services to the new owner. Call for your appointment today!

Key facts

• Great rental history
• Duplex
• 3,484 sq ft lot

Tags

• DUPLEX
• GREAT RENTAL HISTORY

Property features AI

Finance

• Other: Residential zoning

Exterior

• Parking: 2 total parking spaces; 2 open parking spaces (driveway)
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available
• Home design: Duplex; Residential income property; Two levels / 2 stories
• Construction: Block foundation; Asphalt roof; Fuel tank(s)
• Exterior features: Front porch; Asphalt roof; Paved public-maintained city street

Interior

• Kitchen: Electric oven; Refrigerator
• Flooring: Laminate flooring
• Heating & cooling: Forced air heating; Oil heating
• Interior features: Electric oven; Refrigerator; Front porch; Has basement (block foundation)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive. Per door: $432/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 5.3% in Malone — 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 70/100 on livability (#437 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime D-.
• Malone Central School District (town): math 27% / reading 29% proficiency, ranked #581 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 113 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Franklin County population projected at -14% 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $90k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.21% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.18%
• DSCR: 2.83
• GRM: 3.8

CMA / ARV

• ARV (median comp): $236,613
• List price: $89,900
• Delta: -62.01%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.2%
• Equity multiple: 5.13×
• Total profit: $104,060
• Equity at exit: $80,989

10-year hold

• IRR: 49.8%
• Equity multiple: 11.46×
• Total profit: $263,332
• Equity at exit: $174,656

Cash invested: $25,172 (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 12953

• Home prices YoY: 7.2%
• Active inventory: 113
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,983 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$194 /mo · $2,326/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $864

Break-even live

Break-even rent $890

Max offer price $89,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,982
Total (2 units)			$1,983

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $89,900 Active 52 DOM
2. 2026-06-17
   days on market $89,900 Active 51 DOM
3. 2026-06-16
   days on market $89,900 Active 50 DOM
4. 2026-06-15
   days on market $89,900 Active 49 DOM
5. 2026-06-13
   days on market $89,900 Active 47 DOM
6. 2026-06-12
   days on market $89,900 Active 46 DOM
7. 2026-06-09
   days on market $89,900 Active 43 DOM
8. 2026-06-08
   days on market $89,900 Active 42 DOM
9. 2026-06-07
   days on market $89,900 Active 41 DOM
10. 2026-06-07
    days on market $89,900 Active 40 DOM
11. 2026-06-04
    days on market $89,900 Active 37 DOM
12. 2026-06-02
    days on market $89,900 Active 36 DOM
13. 2026-06-01
    days on market $89,900 Active 35 DOM
14. 2026-05-31
    days on market $89,900 Active 34 DOM
15. 2026-05-17
    price $89,900 146-char remark
16. 2026-05-11
    price $94,500 146-char remark
17. 2026-04-27
    listed $99,500 Active 146-char remark
18. 2019-03-15
    soldstatus $55,000
19. 2019-03-14
    soldstatus $55,000 460-char remark

    Show marketing remark (460 chars)

    This up and down duplex is in good condition, and would make for an ideal first time investment opportunity! There is a 3 Bedroom main floor unit, with a 2 Bedroom upstairs unit. Tenants pay their own heat and electric. With a gross potential income of $16,800.00 per year, this property should produce north of a 15% return on investment after expenses. Listing agent will offer Property Management services to the new owner. Call for your appointment today!

20. 2018-09-01
    listed $62,900 460-char remark

    Show marketing remark (460 chars)

    This up and down duplex is in good condition, and would make for an ideal first time investment opportunity! There is a 3 Bedroom main floor unit, with a 2 Bedroom upstairs unit. Tenants pay their own heat and electric. With a gross potential income of $16,800.00 per year, this property should produce north of a 15% return on investment after expenses. Listing agent will offer Property Management services to the new owner. Call for your appointment today!

21. 2015-12-29
    soldstatus $42,000

    Show marketing remark (495 chars)

    Excellent investment opportunity located in the Village of Malone! This duplex features a two bedroom, and a three bedroom apartment, both currently rented, with the tenants paying all utilities except water & sewer. Current rent roll is $1,125/month with room to grow. Good rental units are currently at a premium in Malone! Turn key cash flow positive property with an estimated Cap Rate of 13.7%. Listing Agent also offers Property Management services. Call for your appointment today!

22. 2015-12-29
    soldstatus $42,000

    Show marketing remark (495 chars)

    Excellent investment opportunity located in the Village of Malone! This duplex features a two bedroom, and a three bedroom apartment, both currently rented, with the tenants paying all utilities except water & sewer. Current rent roll is $1,125/month with room to grow. Good rental units are currently at a premium in Malone! Turn key cash flow positive property with an estimated Cap Rate of 13.7%. Listing Agent also offers Property Management services. Call for your appointment today!

23. 2015-10-09
    listed $54,900

    Show marketing remark (495 chars)

    Excellent investment opportunity located in the Village of Malone! This duplex features a two bedroom, and a three bedroom apartment, both currently rented, with the tenants paying all utilities except water & sewer. Current rent roll is $1,125/month with room to grow. Good rental units are currently at a premium in Malone! Turn key cash flow positive property with an estimated Cap Rate of 13.7%. Listing Agent also offers Property Management services. Call for your appointment today!

24. 2000-08-22
    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: $2,326 · $194/mo
• Projected year-2 tax: $2,326 · $194/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,796
• − Mortgage interest: −$5,036
• − Property taxes: −$2,326
• − Insurance: −$450
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$2,615
• Taxable income: $9,562
• Est. tax owed @ 24.0%: −$2,295
• After-tax cash flow: $8,071/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: Malone Central School District
• NCES district ID: 3618180
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $46,681
• Composite: 24.23/100
• National rank: #7725
• State rank: #581 of 590 in NY

Livability — Malone

• Score: 70/100
• State rank: #437
• US rank: #7656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malone, NY
• Population (ZIP): 12,842

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 48,098 people
• By 2030: 46,790 · -2.7%
• By 2040: 44,400 · -7.7%
• By 2050: 41,256 · -14.2%
• By 2075: 32,190 · -33.1%
• By 2100: 23,407 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 16% Slovak 5% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+9.0) · D 45.5% · R 54.5%
• 2008→2024 swing: -31.2pp toward R · 2008: 22.2pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+2.2 2016: R+7.4 2012: D+26.3 2008: D+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.73%
• Current HPI: 263.2406
• 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

+139.7% since first listed

10 events — show timeline

• 2026-05-17 Price Changed $89,900 ACVMLS
• 2026-05-11 Price Changed $94,500 ACVMLS
• 2026-04-27 Listed $99,500 ACVMLS
• 2019-03-15 Sold (Public Records) $55,000 Public Records
• 2019-03-14 Sold (MLS) $55,000 ACVMLS
• 2018-09-01 Listed $62,900 ACVMLS
• 2015-12-29 Sold (Public Records) $42,000 Public Records
• 2015-12-29 Sold (MLS) $42,000 ACVMLS
• 2015-10-09 Listed $54,900 ACVMLS
• 2000-08-22 Sold (Public Records) $37,500 Public Records

Property tax history

+0.7%/yr

Latest (2025): $2,326 · -0.7% YoY. Source: county tax records.