5732&5734 Nys Route 86 · Wilmington, NY 12997

$380,000

None bd · None ba · 3,569 sqft · MultiFamily · 178 Days on market

Built 1935 Fair condition 1.01 ac lot

---

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 +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Secure a high-occupancy residential asset in the Adirondacks' most sought-after recreation corridor. This 5-unit multi-family property in Wilmington offers a unique lifestyle draw for tenants: private river access paired with a location only 5 minutes from the base of Whiteface Mountain. Property Breakdown: Composition: (4) 1BR/1BA apartments plus (1) 1BR/1BA detached single-family residence. Total Gross Income: $4,525 per month. Owner-Friendly Mechanics: All units feature separately metered utilities, keeping owner expenses predictable and low. The 'Wilmington Edge': Demand in this area is driven by its 15-minute proximity to Lake Placid and its status as a mountain biking and skiing mecca. Whether you are looking for a stable long-term hold or a 'house-hack' where you live in the riverfront cottage while the four units pay your mortgage, 5732-5734 NYS Rte 86 is a rare find in a supply-constrained market.

Key facts

• Private river access
• 1.01 acre lot
• Built 1935

Tags

• PRIVATE RIVER ACCESS
• SEPARATELY METERED UTILITIES

What this means for you Summary

Snapshot

• This is a multifamily listed at $380k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $380k).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 1.1% in Wilmington — 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 61/100 on livability (#935 in NY) — a middle-class / working-renter tenant base. Strengths: housing A, employment A-; Watch: crime D+, schools F, amenities F.
• Lake Placid Central School District (town): math 46% / reading 58% proficiency, ranked #344 of 590 in NY (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 39 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 $24k of equity ($3k loan paydown + $21k appreciation (5.6% 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 (5.6% appreciation + 3.0% rent growth), your $106k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $255k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $334,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 2.43% ✓
• Cap rate: 21.05%
• Cash-on-cash: 52.72%
• DSCR: 3.35
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.3%
• Equity multiple: 4.72×
• Total profit: $395,638
• Equity at exit: $229,925

10-year hold

• IRR: 57.5%
• Equity multiple: 9.80×
• Total profit: $936,173
• Equity at exit: $409,436

Cash invested: $106,400 (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 12997

• Home prices YoY: 1.2%
• Active inventory: 39
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $9,241 medium
• Mortgage (P&I): −$1,993
• Tax est. 1.5%: −$475 /mo · $5,700/yr
• Insurance: −$158
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,941
• Net cashflow: $4,619

Break-even live

Break-even rent $3,394

Max offer price $380,000

Occupancy floor 45%

Sensitivity live

Price	-10% $4,881	-5% $4,750	+0% $4,619	+5% $4,487	+10% $4,356
Rent	-10% $3,889	-5% $4,254	+0% $4,619	+5% $4,984	+10% $5,349
Rate	-1.0pp $4,810	-0.5pp $4,715	base $4,619	+0.5pp $4,520	+1.0pp $4,420

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$9,240
Total (5 units)			$9,241

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $380,000 Active 178 DOM
2. 2026-06-18
   days on market $380,000 Active 176 DOM
3. 2026-06-17
   days on market $380,000 Active 175 DOM
4. 2026-06-16
   days on market $380,000 Active 174 DOM
5. 2026-06-15
   days on market $380,000 Active 173 DOM
6. 2026-06-13
   days on market $380,000 Active 171 DOM
7. 2026-06-12
   days on market $380,000 Active 170 DOM
8. 2026-06-09
   days on market $380,000 Active 167 DOM
9. 2026-06-08
   days on market $380,000 Active 166 DOM
10. 2026-06-07
    days on market $380,000 Active 165 DOM
11. 2026-06-07
    days on market $380,000 Active 164 DOM
12. 2026-06-04
    days on market $380,000 Active 161 DOM
13. 2026-06-02
    days on market $380,000 Active 160 DOM
14. 2026-06-01
    days on market $380,000 Active 159 DOM
15. 2026-05-31
    days on market $380,000 Active 158 DOM
16. 2025-12-24
    listed $380,000 Active 922-char remark

    Show marketing remark (922 chars)

    Secure a high-occupancy residential asset in the Adirondacks' most sought-after recreation corridor. This 5-unit multi-family property in Wilmington offers a unique lifestyle draw for tenants: private river access paired with a location only 5 minutes from the base of Whiteface Mountain. Property Breakdown: Composition: (4) 1BR/1BA apartments plus (1) 1BR/1BA detached single-family residence. Total Gross Income: $4,525 per month. Owner-Friendly Mechanics: All units feature separately metered utilities, keeping owner expenses predictable and low. The 'Wilmington Edge': Demand in this area is driven by its 15-minute proximity to Lake Placid and its status as a mountain biking and skiing mecca. Whether you are looking for a stable long-term hold or a 'house-hack' where you live in the riverfront cottage while the four units pay your mortgage, 5732-5734 NYS Rte 86 is a rare find in a supply-constrained market.

17. 2018-12-28
    soldstatus $255,000 701-char remark

    Show marketing remark (701 chars)

    A great opportunity to purchase a picturesque cottage with an additional 4 bedroom apartment building on the West Branch of the Ausable River with its own large parking lot. The current owners have made significant improvements that include new septic, separate propane utilities & meters, electric updates and new windows. This property comes with great long term rental history, has fully occupied units, tenants pay their own utilities and it is located in Wilmington center very close to Whiteface Mountain and just minutes from Lake Placid. The large, professionally landscaped grounds offer the opportunity to relax and admire very nice mountain and river views from the private back yard!

18. 2018-01-24
    listed $265,000 701-char remark

    Show marketing remark (701 chars)

    A great opportunity to purchase a picturesque cottage with an additional 4 bedroom apartment building on the West Branch of the Ausable River with its own large parking lot. The current owners have made significant improvements that include new septic, separate propane utilities & meters, electric updates and new windows. This property comes with great long term rental history, has fully occupied units, tenants pay their own utilities and it is located in Wilmington center very close to Whiteface Mountain and just minutes from Lake Placid. The large, professionally landscaped grounds offer the opportunity to relax and admire very nice mountain and river views from the private back yard!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $110,892
• − Mortgage interest: −$21,286
• − Property taxes: −$5,700
• − Insurance: −$2,566
• − Repairs & maintenance: −$8,871
• − Management: −$8,871
• − Depreciation: −$11,055
• Taxable income: $52,542
• Est. tax owed @ 24.0%: −$12,610
• After-tax cash flow: $42,815/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms need significant updates, and the landscaping and lawn require attention. The home has a good foundation and structure, but the exterior and interior walls need some work.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major kitchen countertops — worn and in need of replacement
• Minor bathroom fixtures — basic and dated
• Major landscaping — overgrown lawn and garden

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen will improve both resale and rental value
• Both repair and paint interior walls — improving the interior will enhance the home's curb appeal and attract more tenants
• Both landscape and maintain lawn — a well-maintained lawn and garden will improve the home's curb appeal and attract more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
kitchen countertops · worn and in need of replacement	Major	$15,000–50,000
bathroom fixtures · basic and dated	Minor	$500–3,000
landscaping · overgrown lawn and garden	Major	$15,000–50,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen will improve both resale and rental value ↑
• Both repair and paint interior walls — improving the interior will enhance the home's curb appeal and attract more tenants ↑
• Both landscape and maintain lawn — a well-maintained lawn and garden will improve the home's curb appeal and attract more tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lake Placid Central School District
• NCES district ID: 3616500
• Math proficiency: 46% ▼ -1.00%
• Reading proficiency: 58% ▲ 13.00%
• Median HH income: $52,508
• Composite: 44.64/100
• National rank: #2770
• State rank: #344 of 590 in NY

Livability — Wilmington

• Score: 61/100
• State rank: #935
• US rank: #18181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, NY
• Population (ZIP): 1,280

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 1%
• Common ancestry: Lithuanian 10% Portuguese 7% Slovak 7%
• Foreign-born: 3%
• Languages at home: 98% English-only · 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: ▲ 5.62%
• Current HPI: 489.2206
• 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

+43.4% since first listed

3 events — show timeline

• 2025-12-24 Listed $380,000 ACVMLS
• 2018-12-28 Sold (MLS) $255,000 ACVMLS
• 2018-01-24 Listed $265,000 ACVMLS