4358 State Route 3 · Redford, NY 12978

$125,000

6 bd · 1.0 ba · 1,542 sqft · Other public records · 122 Days on market

Built 1876 0.90 ac lot $81/sqft · 31% below area Est $180k · 31% under ↓ 22% since listing

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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 +20.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +6.2/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Calling all DIY enthusiasts! Unleash the potential of this spacious 4-bedroom, 1-bath home, which offers partial views of the Saranac River and plenty of additional living space to customize. The property includes an oversize. detached, heated 2-car garage, providing ample room for vehicles, outdoor gear, and workshop space, along with a loft for extra storage. This home is being sold ''as-is'' and without appliances, giving you the freedom to select the high-end finishes and appliances of your choice.

Key facts

• 0.9 acre lot
• 2 garage spots
• Built 1876

Tags

• LOFT FOR EXTRA STORAGE

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#833 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, crime F.
• Saranac Central School District (rural): math 43% / reading 56% proficiency, ranked #374 of 590 in NY (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 192 units permitted in Clinton County in 2024 (64 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Clinton County population projected at -16% 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1876 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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?
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 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: 1.12% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 7.4

CMA / ARV

• ARV (median comp): $180,330
• List price: $125,000
• Delta: -30.68%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.4%
• Equity multiple: 3.25×
• Total profit: $78,757
• Equity at exit: $112,610

10-year hold

• IRR: 24.8%
• Equity multiple: 7.39×
• Total profit: $223,719
• Equity at exit: $242,848

Cash invested: $35,000 (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 12978

• Home prices YoY: 4.3%
• Active inventory: 1
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$233 /mo · $2,800/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $167

Break-even live

Break-even rent $1,191

Max offer price $125,000

Occupancy floor 83%

Sensitivity live

Price	-10% $237	-5% $202	+0% $167	+5% $131	+10% $96
Rent	-10% $56	-5% $111	+0% $167	+5% $222	+10% $277
Rate	-1.0pp $230	-0.5pp $198	base $167	+0.5pp $134	+1.0pp $101

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 122 DOM
2. 2026-06-21
   days on market $125,000 Active 121 DOM
3. 2026-06-18
   days on market $125,000 Active 119 DOM
4. 2026-06-17
   days on market $125,000 Active 118 DOM
5. 2026-06-16
   days on market $125,000 Active 117 DOM
6. 2026-06-15
   days on market $125,000 Active 116 DOM
7. 2026-06-13
   days on market $125,000 Active 114 DOM
8. 2026-06-12
   days on market $125,000 Active 113 DOM
9. 2026-06-09
   days on market $125,000 Active 110 DOM
10. 2026-06-08
    days on market $125,000 Active 109 DOM
11. 2026-06-07
    days on market $125,000 Active 108 DOM
12. 2026-06-07
    days on market $125,000 Active 107 DOM
13. 2026-06-04
    days on market $125,000 Active 104 DOM
14. 2026-06-02
    days on market $125,000 Active 103 DOM
15. 2026-06-01
    days on market $125,000 Active 102 DOM
16. 2026-05-31
    days on market $125,000 Active 101 DOM
17. 2026-05-06
    price $125,000 511-char remark

    Show marketing remark (511 chars)

    Calling all DIY enthusiasts! Unleash the potential of this spacious 4-bedroom, 1-bath home, which offers partial views of the Saranac River and plenty of additional living space to customize. The property includes an oversize. detached, heated 2-car garage, providing ample room for vehicles, outdoor gear, and workshop space, along with a loft for extra storage. This home is being sold ''as-is'' and without appliances, giving you the freedom to select the high-end finishes and appliances of your choice.

18. 2026-02-18
    listed $159,900 Active 511-char remark

    Show marketing remark (511 chars)

    Calling all DIY enthusiasts! Unleash the potential of this spacious 4-bedroom, 1-bath home, which offers partial views of the Saranac River and plenty of additional living space to customize. The property includes an oversize. detached, heated 2-car garage, providing ample room for vehicles, outdoor gear, and workshop space, along with a loft for extra storage. This home is being sold ''as-is'' and without appliances, giving you the freedom to select the high-end finishes and appliances of your choice.

ⓘ 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: $2,800 · $233/mo
• Projected year-2 tax: $2,800 · $233/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $16,823
• − Mortgage interest: −$7,002
• − Property taxes: −$2,800
• − Insurance: −$625
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$3,636
• Taxable income: $68
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $1,983/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: Saranac Central School District
• NCES district ID: 3600009
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 56% ▲ 8.00%
• Median HH income: $59,066
• Composite: 43.19/100
• National rank: #3065
• State rank: #374 of 590 in NY

Livability — Redford

• Score: 62/100
• State rank: #833
• US rank: #16154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redford, NY
• Population (ZIP): 243

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 78,791 people
• By 2030: 76,848 · -2.5%
• By 2040: 71,579 · -9.2%
• By 2050: 66,471 · -15.6%
• By 2075: 57,361 · -27.2%
• By 2100: 47,232 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 3%
• Common ancestry: Serbian 4% Lithuanian 2%

Political lean MEDSL · Clinton

• 2024 margin: Toss-up / Even · D 48.9% · R 51.1%
• 2008→2024 swing: -25.1pp toward R · 2008: 22.9pp · 2024: -2.2pp
• All cycles: 2024: R+2.2 2020: D+5.2 2016: D+0.9 2012: D+25.6 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.58%
• Current HPI: 279.6978
• 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

-21.8% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $125,000 ACVMLS
• 2026-02-18 Listed $159,900 ACVMLS

Property tax history

+6.4%/yr

Latest (2025): $2,800 · +0.9% YoY. Source: county tax records.