3-5 Jalet St · Whitehall, NY 12887

$105,000

4 bd · 3.0 ba · 2,052 sqft · MultiFamily public records · 181 Days on market

Built 1920 0.50 ac lot $51/sqft · 35% below area Est $161k · 35% under

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Why this score? — see what drove the A 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.3/10.0
• Livability +2.8/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Located within the Village yet set on a quiet private dead-end road, this well-maintained duplex offers the perfect blend of convenience and privacy. This side-by-side property features two spacious units, each with an upstairs and downstairs layout, offering 2 bedrooms and 1 full bathroom per unit. Both units are currently occupied, providing immediate and reliable rental income. The right-hand unit includes a chimney suitable for a wood stove, offering potential for added warmth or character should the new owner choose to install one. A newly paved driveway enhances curb appeal and provides easy off-street parking for residents. This property is being sold as-is, presenting a strong opportunity for investors or owner-occupants looking to add value and expand their real estate portfolio. A 24-hour notice is required for all showings.

Key facts

• Two spacious units
• Newly paved driveway
• 0.5 acre lot

Tags

• WELL-MAINTAINED DUPLEX
• TWO SPACIOUS UNITS
• UPSTAIRS AND DOWNSTAIRS LAYOUT
• NEWLY PAVED DRIVEWAY
• EASY OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 6.5% in Whitehall — 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 56/100 on livability (#1,103 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Whitehall Central School District (rural): math 32% / reading 47% proficiency, ranked #530 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% local appreciation)).
• Washington County population projected at -20% 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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.
• Current owner paid $73k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 2.07% ✓
• Cap rate: 15.60%
• Cash-on-cash: 33.25%
• DSCR: 2.48
• GRM: 4.0

CMA / ARV

• ARV (median comp): $161,001
• List price: $105,000
• Delta: -34.78%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 49.7%
• Equity multiple: 4.71×
• Total profit: $109,209
• Equity at exit: $94,592

10-year hold

• IRR: 43.5%
• Equity multiple: 10.56×
• Total profit: $281,086
• Equity at exit: $203,992

Cash invested: $29,400 (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 12887

• Active inventory: 42
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,175 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$309 /mo · $3,711/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $815

Break-even live

Break-even rent $1,144

Max offer price $105,000

Occupancy floor 58%

Sensitivity live

Price	-10% $874	-5% $844	+0% $815	+5% $785	+10% $755
Rent	-10% $643	-5% $729	+0% $815	+5% $900	+10% $986
Rate	-1.0pp $867	-0.5pp $841	base $815	+0.5pp $787	+1.0pp $760

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,174
Total (2 units)			$2,175

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-04
   days on market $105,000 Active 181 DOM
2. 2026-06-02
   days on market $105,000 Active 180 DOM
3. 2026-06-01
   days on market $105,000 Active 179 DOM
4. 2026-05-31
   days on market $105,000 Active 178 DOM
5. 2025-12-04
   listed $105,000 Active 846-char remark

   Show marketing remark (846 chars)

   Located within the Village yet set on a quiet private dead-end road, this well-maintained duplex offers the perfect blend of convenience and privacy. This side-by-side property features two spacious units, each with an upstairs and downstairs layout, offering 2 bedrooms and 1 full bathroom per unit. Both units are currently occupied, providing immediate and reliable rental income. The right-hand unit includes a chimney suitable for a wood stove, offering potential for added warmth or character should the new owner choose to install one. A newly paved driveway enhances curb appeal and provides easy off-street parking for residents. This property is being sold as-is, presenting a strong opportunity for investors or owner-occupants looking to add value and expand their real estate portfolio. A 24-hour notice is required for all showings.

6. 2025-02-09
   status Active
7. 2025-02-02
   historical Contingent
8. 2025-02-02
   historical
9. 2025-01-19
   listed $129,000 Active
10. 2024-09-07
    historical
11. 2024-08-12
    price $109,900
12. 2024-04-08
    price $119,900
13. 2024-03-22
    price $124,900
14. 2024-03-06
    listed $129,900 Active
15. 2015-01-28
    historical
16. 2012-01-27
    listed $79,000
17. 2005-04-27
    soldstatus $73,000
18. 2005-04-22
    soldstatus $73,000
19. 2005-01-14
    listed $75,000
20. 2004-11-07
    historical
21. 2004-05-08
    listed $59,900
22. 2003-01-29
    soldstatus $28,000
23. 2003-01-15
    soldstatus $28,000
24. 2001-10-24
    listed $29,900

ⓘ 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: $3,711 · $309/mo
• Projected year-2 tax: $3,711 · $309/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 3/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $26,100
• − Mortgage interest: −$5,882
• − Property taxes: −$3,711
• − Insurance: −$525
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$3,055
• Taxable income: $8,751
• Est. tax owed @ 24.0%: −$2,100
• After-tax cash flow: $7,675/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: Whitehall Central School District
• NCES district ID: 3631290
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $43,563
• Composite: 33.4/100
• National rank: #5477
• State rank: #530 of 590 in NY

Livability — Whitehall

• Score: 56/100
• State rank: #1103
• US rank: #22538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitehall, NY
• Population (ZIP): 4,629

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 3%
• Common ancestry: Lithuanian 15% Polish 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 122.64%
• Current HPI: 354.5975
• 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

+251.2% since first listed

20 events — show timeline

• 2025-12-04 Listed $105,000 Global MLS
• 2025-02-09 Relisted — Global MLS
• 2025-02-02 Contingent — Global MLS
• 2025-02-02 Listing Removed — Global MLS
• 2025-01-19 Listed $129,000 Global MLS
• 2024-09-07 Listing Removed — Global MLS
• 2024-08-12 Price Changed $109,900 Global MLS
• 2024-04-08 Price Changed $119,900 Global MLS
• 2024-03-22 Price Changed $124,900 Global MLS
• 2024-03-06 Listed $129,900 Global MLS
• 2015-01-28 Listing Removed — Global MLS
• 2012-01-27 Listed $79,000 Global MLS
• 2005-04-27 Sold (Public Records) $73,000 Public Records
• 2005-04-22 Sold (MLS) $73,000 Global MLS
• 2005-01-14 Listed $75,000 Global MLS
• 2004-11-07 Listing Removed — Global MLS
• 2004-05-08 Listed $59,900 Global MLS
• 2003-01-29 Sold (Public Records) $28,000 Public Records
• 2003-01-15 Sold (MLS) $28,000 Global MLS
• 2001-10-24 Listed $29,900 Global MLS

Property tax history

+1.5%/yr

Latest (2025): $3,711 · +13.8% YoY. Source: county tax records.