4-6 Liberty St · Fort Edward, NY 12828

$182,000

15 bd · 9.0 ba · 1,726 sqft · MultiFamily · 13 Days on market

Built 1885 Good condition 5,662 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 +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Located in the heart of Fort Edward, this versatile triplex offers the perfect opportunity for both investors and owner-occupants alike. Significant recent improvements provide peace of mind and immediate value. The seller has installed a brand-new roof, removed detrimental trees to enhance safety and curb appeal, and completed a full top-to-bottom renovation of the front apartment. This beautifully updated unit features fresh paint throughout, new flooring, a completely gutted and reimagined bathroom, and updated appliances including a new washer and dryer and refrigerator--making it truly move-in ready. The second apartment offers endless potential and a head start on renovations. With ne

Key facts

• Updated appliances
• Fresh paint
• New subflooring

Tags

• NEW ROOF
• FULL TOP-TO-BOTTOM RENOVATION
• UPDATED APPLIANCES
• NEW SUBFLOORING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $182k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $420/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $182k).
• Cap rate 15.0% vs local median 3.8% in Fort Edward — 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 73/100 on livability (#334 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D+, commute D+, employment D.
• Fort Edward Union Free School District (suburban): math 50% / reading 45% proficiency, ranked #512 of 755 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.1% local appreciation)).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1885 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.79% ✓
• Cap rate: 14.97%
• Cash-on-cash: 30.99%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.7%
• Equity multiple: 3.62×
• Total profit: $133,754
• Equity at exit: $115,306

10-year hold

• IRR: 37.8%
• Equity multiple: 7.49×
• Total profit: $330,510
• Equity at exit: $209,878

Cash invested: $50,960 (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 12828

• Home prices YoY: 1.9%
• Active inventory: 45
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,258 medium
• Mortgage (P&I): −$954
• Tax est. 1.5%: −$228 /mo · $2,730/yr
• Insurance: −$76
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $1,261

Break-even live

Break-even rent $1,662

Max offer price $182,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,386	-5% $1,323	+0% $1,261	+5% $1,198	+10% $1,135
Rent	-10% $1,003	-5% $1,132	+0% $1,261	+5% $1,389	+10% $1,518
Rate	-1.0pp $1,352	-0.5pp $1,307	base $1,261	+0.5pp $1,213	+1.0pp $1,165

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

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1.5	$3,258
Total (3 units)			$3,258

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: $45,500
• Closing costs: $5,460
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-18
   status Pending
2. 2026-03-04
   listed $182,000 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,096
• − Mortgage interest: −$10,195
• − Property taxes: −$2,730
• − Insurance: −$1,576
• − Repairs & maintenance: −$3,128
• − Management: −$3,128
• − Depreciation: −$5,295
• Taxable income: $13,045
• Est. tax owed @ 24.0%: −$3,131
• After-tax cash flow: $11,995/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 · 13 photos

Good 75/100 Cosmetic rehab

This triplex is in good condition with recent renovations, making it move-in ready for both investors and owner-occupants.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace gutters — Improves drainage and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace gutters — Improves drainage and aesthetics ↑

ⓘ 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: Fort Edward Union Free School District
• NCES district ID: 3611310
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $49,124
• Composite: 42.76/100
• National rank: #6771
• State rank: #512 of 755 in NY

Livability — Fort Edward

• Score: 73/100
• State rank: #334
• US rank: #5647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Edward, NY
• Population (ZIP): 9,775

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.08%
• Current HPI: 327.6439
• 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

2 events — show timeline

• 2026-03-18 Pending — Global MLS
• 2026-03-04 Listed $182,000 Global MLS