3245 Broad St · Port Henry, NY 12974

$59,900

2 bd · 1.5 ba · 1,444 sqft · SingleFamily public records · 22 Days on market

Built 1880 4,356 sqft lot

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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 +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Historic former Port Henry firehouse. Three bay garage with 2BR living space above. Being sold as is with contents. Water damage to kitchen area. Lots of character but needs work.

Key facts

• Living space above
• Three bay garage
• 4,356 sq ft lot

Tags

• FORMER PORT HENRY FIREHOUSE
• THREE BAY GARAGE
• LIVING SPACE ABOVE

Property features AI

Finance

• Financial info: Annual tax amount approximately $2,598

Exterior

• Home design: Single family residence; Residential property
• Construction: Above-grade finished area 1,440
• Exterior features: Lot approximately 0.1 acres

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 2.9% in Port Henry — 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 76/100 on livability (#226 in NY, #3,576 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Moriah Central School District (rural): math 41% / reading 52% proficiency, ranked #445 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 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 $4k of equity ($414 loan paydown + $3k appreciation (5.5% 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 (5.5% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: property tax is 4.3% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.59% ✓
• Cap rate: 19.70%
• Cash-on-cash: 47.89%
• DSCR: 3.13
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $168,948
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 2nd Ln	0.26mi	3/2.0 (+1)	1,494 (+4%)	4mo	$159,500	$107	72
22 Rice Ln	0.26mi	3/2.0 (+1)	1,426 (-1%)	9mo	$169,600	$119	71
27 Elizabeth St	0.32mi	3/2.0 (+1)	1,522 (+5%)	14mo	$150,000	$99	58
9 Meacham St	0.59mi	3/2.0 (+1)	1,560 (+8%)	3mo	$205,000	$131	50
110 Stone St	0.54mi	3/2.0 (+1)	1,344 (-7%)	8mo	$110,000	$82	50
23 First Ln	0.33mi	3/2.0 (+1)	1,236 (-14%)	6mo	$150,000	$121	49
9 Waldo Pl	0.43mi	3/1.5 (+1)	1,287 (-11%)	10mo	$150,000	$117	48
15 Waldo Pl	0.43mi	3/1.0 (+1)	1,360 (-6%)	19mo	$113,300	$83	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.2%
• Equity multiple: 4.46×
• Total profit: $58,089
• Equity at exit: $35,581

10-year hold

• IRR: 53.6%
• Equity multiple: 9.24×
• Total profit: $138,284
• Equity at exit: $62,805

Cash invested: $16,772 (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 12974

• Home prices YoY: 1.6%
• Active inventory: 23
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,551 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$217 /mo · $2,599/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $669

Break-even live

Break-even rent $703

Max offer price $59,900

Occupancy floor 52%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-13
   statusdays on market $59,900 Pending 22 DOM
2. 2026-06-12
   days on market $59,900 Active 21 DOM
3. 2026-06-09
   days on market $59,900 Active 18 DOM
4. 2026-06-08
   days on market $59,900 Active 17 DOM
5. 2026-06-07
   days on market $59,900 Active 16 DOM
6. 2026-06-05
   days on market $59,900 Active 14 DOM
7. 2026-06-04
   days on market $59,900 Active 12 DOM
8. 2026-06-02
   days on market $59,900 Active 11 DOM
9. 2026-06-01
   days on market $59,900 Active 10 DOM
10. 2026-05-31
    days on market $59,900 Active 9 DOM
11. 2026-05-24
    status Active
12. 2026-05-21
    historical
13. 2026-05-18
    listed $59,900 Active

ⓘ 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: $2,599 · $217/mo
• Projected year-2 tax: $2,599 · $217/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,608
• − Mortgage interest: −$3,355
• − Property taxes: −$2,599
• − Insurance: −$300
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$1,743
• Taxable income: $7,635
• Est. tax owed @ 24.0%: −$1,832
• After-tax cash flow: $6,200/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: Moriah Central School District
• NCES district ID: 3619830
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $46,940
• Composite: 39.55/100
• National rank: #3937
• State rank: #445 of 590 in NY

Livability — Port Henry

• Score: 76/100
• State rank: #226
• US rank: #3576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Henry, NY
• Population (ZIP): 1,545

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 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 20% Romanian 12% Italian 6%
• Foreign-born: 2% · Canada, China
• Languages at home: 88% English-only · French/Haitian/Cajun 6% Spanish 2% Other Asian/Pacific 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: ▲ 5.45%
• Current HPI: 342.6175
• 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

3 events — show timeline

• 2026-05-24 Relisted — ACVMLS
• 2026-05-21 Delisted — ACVMLS
• 2026-05-18 Listed $59,900 ACVMLS

Property tax history

+12.2%/yr

Latest (2025): $2,599 · +58.7% YoY. Source: county tax records.