3 Park Ave · Ticonderoga, NY 12883

$269,900

24 bd · 16.0 ba · 4,487 sqft · MultiFamily public records · 273 Days on market

Built 1954 8,712 sqft lot $60/sqft · 63% below area Est $526k · 49% 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 +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Recently renovated 4 unit apartment building with town sewer and water. Corner lot. Walk to hospital and all other shopping and facilities. Brand new boiler. Live in one and let the others pay your mortgage or take all the income. Buyer can start with their own rents and tenants.

Key facts

• Walk to hospital
• Recently renovated
• Corner lot

Tags

• RECENTLY RENOVATED
• CORNER LOT
• WALK TO HOSPITAL
• SHOPPING AND FACILITIES

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 2.2% in Ticonderoga — 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 77/100 on livability (#182 in NY, #2,828 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities D+, commute F.
• Ticonderoga Central School District (rural): math 41% / reading 50% proficiency, ranked #459 of 590 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Essex 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 $76k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 273 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $130k; list at $270k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $237,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 273 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.66% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• GRM: 5.0

CMA / ARV

• ARV (median comp): $526,432
• List price: $269,900
• Delta: -48.73%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 45.7%
• Equity multiple: 4.44×
• Total profit: $260,187
• Equity at exit: $243,147

10-year hold

• IRR: 39.6%
• Equity multiple: 9.96×
• Total profit: $677,219
• Equity at exit: $524,356

Cash invested: $75,572 (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 12883

• Home prices YoY: 14.5%
• Active inventory: 59
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $4,489 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$943
• Net cashflow: $1,777

Break-even live

Break-even rent $2,240

Max offer price $269,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$4,488
Total (4 units)			$4,489

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $269,900 Active 273 DOM
2. 2026-06-17
   days on market $269,900 Active 272 DOM
3. 2026-06-16
   days on market $269,900 Active 271 DOM
4. 2026-06-15
   days on market $269,900 Active 270 DOM
5. 2026-06-13
   days on market $269,900 Active 268 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   days on market $269,900 Active 267 DOM
8. 2026-06-09
   days on market $269,900 Active 264 DOM
9. 2026-06-08
   days on market $269,900 Active 263 DOM
10. 2026-06-07
    days on market $269,900 Active 262 DOM
11. 2026-06-07
    days on market $269,900 Active 261 DOM
12. 2026-06-04
    days on market $269,900 Active 258 DOM
13. 2026-06-02
    days on market $269,900 Active 257 DOM
14. 2026-06-01
    days on market $269,900 Active 256 DOM
15. 2026-05-31
    days on market $269,900 Active 255 DOM
16. 2025-12-13
    status Active 287-char remark

    Show marketing remark (287 chars)

    Recently renovated 4 unit apartment building with town sewer and water. Corner lot. Walk to hospital and all other shopping and facilities. Brand new boiler. Live in one and let the others pay your mortgage or take all the income. Buyer can start with their own rents and tenants.

17. 2025-11-09
    historical Contingent 287-char remark

    Show marketing remark (287 chars)

    Recently renovated 4 unit apartment building with town sewer and water. Corner lot. Walk to hospital and all other shopping and facilities. Brand new boiler. Live in one and let the others pay your mortgage or take all the income. Buyer can start with their own rents and tenants.

18. 2025-09-17
    listed $269,900 Active 287-char remark

    Show marketing remark (287 chars)

    Recently renovated 4 unit apartment building with town sewer and water. Corner lot. Walk to hospital and all other shopping and facilities. Brand new boiler. Live in one and let the others pay your mortgage or take all the income. Buyer can start with their own rents and tenants.

19. 2025-09-16
    soldstatus $130,000
20. 2004-04-13
    soldstatus $36,000 161-char remark

    Show marketing remark (161 chars)

    sold ''as is'', needs work, some broken pipes, cosmetics, etc., offer offers to be in proper written form to be presented, contract, copy of PQ and deposit req.,

21. 2003-04-04
    listed $44,500 161-char remark

    Show marketing remark (161 chars)

    sold ''as is'', needs work, some broken pipes, cosmetics, etc., offer offers to be in proper written form to be presented, contract, copy of PQ and deposit req.,

22. 2000-05-08
    soldstatus $85,500

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $3,729 · $311/mo
• Expected delta: +$832/yr (+$69/mo · 28.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $53,868
• − Mortgage interest: −$15,119
• − Property taxes: −$2,896
• − Insurance: −$1,350
• − Repairs & maintenance: −$4,309
• − Management: −$4,309
• − Depreciation: −$7,852
• Taxable income: $18,033
• Est. tax owed @ 24.0%: −$4,328
• After-tax cash flow: $16,997/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: Ticonderoga Central School District
• NCES district ID: 3628680
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 50% ▲ 7.00%
• Median HH income: $46,111
• Composite: 38.65/100
• National rank: #4150
• State rank: #459 of 590 in NY

Livability — Ticonderoga

• Score: 77/100
• State rank: #182
• US rank: #2828

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ticonderoga, NY
• Population (ZIP): 4,781

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 12% Romanian 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1% Spanish 1%

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: ▲ 38.24%
• Current HPI: 301.3984
• 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

+215.7% since first listed

7 events — show timeline

• 2025-12-13 Relisted — Global MLS
• 2025-11-09 Contingent — Global MLS
• 2025-09-17 Listed $269,900 Global MLS
• 2025-09-16 Sold (Public Records) $130,000 Public Records
• 2004-04-13 Sold (MLS) $36,000 Global MLS
• 2003-04-04 Listed $44,500 Global MLS
• 2000-05-08 Sold (Public Records) $85,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $2,896 · +0.3% YoY. Source: county tax records.