51 Wilfred King Rd · Dannemora, NY 12935

$228,000

4 bd · 2.5 ba · 2,080 sqft · SingleFamily public records · 83 Days on market

Built 2002 1.00 ac lot $110/sqft · 29% below area Est $322k · 29% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +8.2/10.0
• Cash flow +4.6/30.0
• Schools +4.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Nestled on a peaceful country setting, this well-maintained home offers the perfect blend of privacy, space, and comfort. Surrounded by nature, a quiet rural atmosphere--ideal for those looking to escape the hustle while still being within a reasonable drive to Plattsburgh and surrounding areas. The home features a spacious layout with bright, sun-filled rooms and a functional floor plan that offers both everyday comfort and room to entertain. Large windows bring in natural light and showcase the beautiful outdoor surroundings. The kitchen and living spaces flow nicely, creating a warm and inviting environment. Outside, the property provides plenty of room to relax, garden, or enjoy outdoor activities.

Key facts

• Large windows
• Spacious layout
• 1 acre lot

Tags

• SPACIOUS LAYOUT
• BRIGHT SUN FILLED ROOMS
• FUNCTIONAL FLOOR PLAN
• LARGE WINDOWS
• BEAUTIFUL OUTDOOR SURROUNDINGS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $-578 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (44.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (38.6% below list).
• Recommended offer: $126k (44.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 57/100 on livability (#1,079 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Northern Adirondack Central School District (rural): math 47% / reading 49% proficiency, ranked #430 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Adirondack Elementary School (math 37% / reading 47%, grade F, #1,361 of 2,108 statewide, top 67%, 387 students, 52% FRL); Northern Adirondack Middle/High School (math 57% / reading 52%, grade C-, #912 of 1,100 statewide, top 85%, 417 students, 53% FRL).
• Market conditions: 20 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $15k appreciation (6.5% local appreciation)).
• Clinton County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($214k) is reasonable based on typical stale-listing flexibility.

Recommended offer $125,889 (44.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.61% ✗
• Cap rate: 3.25%
• Cash-on-cash: -10.87%
• DSCR: 0.52
• GRM: 13.6

CMA / ARV

• ARV (median comp): $321,708
• List price: $228,000
• Delta: -29.13%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

6.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.56×
• Total profit: $35,779
• Equity at exit: $150,434

10-year hold

• IRR: 9.7%
• Equity multiple: 3.08×
• Total profit: $132,676
• Equity at exit: $279,158

Cash invested: $63,840 (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 12935

• Home prices YoY: 2.2%
• Active inventory: 20
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$393 /mo · $4,718/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-578

Break-even live

Break-even rent $2,131

Max offer price $125,889

Occupancy floor —

Sensitivity live

Price	-10% $-449	-5% $-513	+0% $-578	+5% $-643	+10% $-707
Rent	-10% $-689	-5% $-633	+0% $-578	+5% $-523	+10% $-467
Rate	-1.0pp $-463	-0.5pp $-520	base $-578	+0.5pp $-637	+1.0pp $-697

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $228,000 Active 83 DOM
2. 2026-06-21
   days on market $228,000 Active 82 DOM
3. 2026-06-18
   days on market $228,000 Active 80 DOM
4. 2026-06-17
   days on market $228,000 Active 79 DOM
5. 2026-06-16
   days on market $228,000 Active 78 DOM
6. 2026-06-15
   days on market $228,000 Active 77 DOM
7. 2026-06-13
   pricedays on market $228,000 Active 75 DOM
8. 2026-06-12
   days on market $233,000 Active 74 DOM
9. 2026-06-09
   days on market $233,000 Active 71 DOM
10. 2026-06-08
    days on market $233,000 Active 70 DOM
11. 2026-06-07
    days on market $233,000 Active 69 DOM
12. 2026-06-07
    days on market $233,000 Active 68 DOM
13. 2026-06-04
    days on market $233,000 Active 65 DOM
14. 2026-06-02
    days on market $233,000 Active 64 DOM
15. 2026-06-01
    days on market $233,000 Active 63 DOM
16. 2026-05-31
    days on market $233,000 Active 62 DOM
17. 2026-04-25
    price $233,000 711-char remark

    Show marketing remark (711 chars)

    Nestled on a peaceful country setting, this well-maintained home offers the perfect blend of privacy, space, and comfort. Surrounded by nature, a quiet rural atmosphere--ideal for those looking to escape the hustle while still being within a reasonable drive to Plattsburgh and surrounding areas. The home features a spacious layout with bright, sun-filled rooms and a functional floor plan that offers both everyday comfort and room to entertain. Large windows bring in natural light and showcase the beautiful outdoor surroundings. The kitchen and living spaces flow nicely, creating a warm and inviting environment. Outside, the property provides plenty of room to relax, garden, or enjoy outdoor activities.

18. 2026-03-30
    listed $235,000 Active 711-char remark

    Show marketing remark (711 chars)

    Nestled on a peaceful country setting, this well-maintained home offers the perfect blend of privacy, space, and comfort. Surrounded by nature, a quiet rural atmosphere--ideal for those looking to escape the hustle while still being within a reasonable drive to Plattsburgh and surrounding areas. The home features a spacious layout with bright, sun-filled rooms and a functional floor plan that offers both everyday comfort and room to entertain. Large windows bring in natural light and showcase the beautiful outdoor surroundings. The kitchen and living spaces flow nicely, creating a warm and inviting environment. Outside, the property provides plenty of room to relax, garden, or enjoy outdoor activities.

ⓘ 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: $4,718 · $393/mo
• Projected year-2 tax: $4,718 · $393/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 2/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥88°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,797
• − Mortgage interest: −$12,772
• − Property taxes: −$4,718
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$6,633
• Taxable loss: −$11,153
• Est. tax savings @ 24.0%: +$2,677
• After-tax cash flow: $-4,260/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: Northern Adirondack Central School District
• NCES district ID: 3621260
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $44,656
• Composite: 40.62/100
• National rank: #3689
• State rank: #430 of 590 in NY

Livability — Dannemora

• Score: 57/100
• State rank: #1079
• US rank: #21686

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,882
• Population (ZIP): 1,159

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Lithuanian 23% German 2% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.49%
• Current HPI: 303.7051
• 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

-0.9% since first listed

2 events — show timeline

• 2026-04-25 Price Changed $233,000 ACVMLS
• 2026-03-30 Listed $235,000 ACVMLS

Property tax history

+3.4%/yr

Latest (2025): $4,718 · -1.3% YoY. Source: county tax records.