1361 Nys Rte 9N · Ticonderoga, NY 12883

$119,900

5 bd · 3.0 ba · 2,674 sqft · SingleFamily public records · 219 Days on market

Built 1900 0.70 ac lot $45/sqft · 55% below area

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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).

• Appreciation +10.0/10.0
• Cash flow +9.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

Key facts

• 0.7 acre lot
• 6 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (13.0% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $104k (13.0% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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: 60 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 $13k of equity ($829 loan paydown + $12k 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.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,296 (13.0% 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 219 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.03% ✓
• Cap rate: 5.41%
• Cash-on-cash: -3.16%
• DSCR: 0.86
• GRM: 8.1

CMA / ARV

• ARV (median comp): $266,449
• List price: $119,900
• Delta: -55.00%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.1%
• Equity multiple: 2.78×
• Total profit: $59,835
• Equity at exit: $108,015

10-year hold

• IRR: 19.9%
• Equity multiple: 6.39×
• Total profit: $180,948
• Equity at exit: $232,939

Cash invested: $33,572 (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: 60
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$381 /mo · $4,568/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-88

Break-even live

Break-even rent $1,341

Max offer price $104,296

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-54	+0% $-88	+5% $-122	+10% $-156
Rent	-10% $-185	-5% $-137	+0% $-88	+5% $-40	+10% $9
Rate	-1.0pp $-28	-0.5pp $-58	base $-88	+0.5pp $-119	+1.0pp $-151

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $119,900 Active 219 DOM
2. 2026-06-18
   days on market $119,900 Active 217 DOM
3. 2026-06-17
   days on market $119,900 Active 216 DOM
4. 2026-06-16
   days on market $119,900 Active 215 DOM
5. 2026-06-15
   days on market $119,900 Active 214 DOM
6. 2026-06-13
   days on market $119,900 Active 212 DOM
7. 2026-06-12
   days on market $119,900 Active 211 DOM
8. 2026-06-09
   days on market $119,900 Active 208 DOM
9. 2026-06-08
   days on market $119,900 Active 207 DOM
10. 2026-06-07
    days on market $119,900 Active 206 DOM
11. 2026-06-07
    days on market $119,900 Active 205 DOM
12. 2026-06-04
    days on market $119,900 Active 202 DOM
13. 2026-06-02
    days on market $119,900 Active 201 DOM
14. 2026-06-01
    days on market $119,900 Active 200 DOM
15. 2026-05-31
    days on market $119,900 Active 199 DOM
16. 2026-05-01
    price $119,900 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

17. 2026-03-19
    price $134,900 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

18. 2026-03-11
    status Active 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

19. 2026-03-07
    historical 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

20. 2026-02-05
    price $139,900 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

21. 2025-12-04
    price $144,900 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

22. 2025-11-08
    listed $149,900 Active 73-char remark

    Show marketing remark (73 chars)

    Large farmhouse with 5 bedroom, 4 bath home on 0.70 acres. Needs some TLC

23. 2019-09-18
    soldstatus $169,600 423-char remark

    Show marketing remark (423 chars)

    Lovely farmhouse with extensive updates. Rear yard with Adirondack mountain views, above ground pool (liner 2018) composite deck, country kitchen open with breakfast bar, stainless appliances. Large family room, office or 5th bedroom on main level, 2 1/2 bath, 4 bedrooms and full bath with soaker tub to relax in after a lovely day on second floor. Minutes to Lake George, Lake Champlain. Easy access to snowmobile trails.

24. 2019-09-17
    soldstatus $169,600
25. 2018-12-11
    listed $169,900 423-char remark

    Show marketing remark (423 chars)

    Lovely farmhouse with extensive updates. Rear yard with Adirondack mountain views, above ground pool (liner 2018) composite deck, country kitchen open with breakfast bar, stainless appliances. Large family room, office or 5th bedroom on main level, 2 1/2 bath, 4 bedrooms and full bath with soaker tub to relax in after a lovely day on second floor. Minutes to Lake George, Lake Champlain. Easy access to snowmobile trails.

26. 2012-07-10
    soldstatus $155,000
27. 2012-07-05
    soldstatus $155,000
28. 2011-07-13
    listed $169,900
29. 2000-01-19
    soldstatus $84,000

ⓘ 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: $4,568 · $381/mo
• Projected year-2 tax: $4,568 · $381/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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $14,751
• − Mortgage interest: −$6,716
• − Property taxes: −$4,568
• − Insurance: −$600
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,488
• Taxable loss: −$2,981
• Est. tax savings @ 24.0%: +$716
• After-tax cash flow: $-344/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

• 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

+42.7% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $119,900 Global MLS
• 2026-03-19 Price Changed $134,900 Global MLS
• 2026-03-11 Relisted — Global MLS
• 2026-03-07 Listing Removed — Global MLS
• 2026-02-05 Price Changed $139,900 Global MLS
• 2025-12-04 Price Changed $144,900 Global MLS
• 2025-11-08 Listed $149,900 Global MLS
• 2019-09-18 Sold (MLS) $169,600 Global MLS
• 2019-09-17 Sold (Public Records) $169,600 Public Records
• 2018-12-11 Listed $169,900 Global MLS
• 2012-07-10 Sold (Public Records) $155,000 Public Records
• 2012-07-05 Sold (MLS) $155,000 Global MLS
• 2011-07-13 Listed $169,900 Global MLS
• 2000-01-19 Sold (Public Records) $84,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,568 · +6.9% YoY. Source: county tax records.