5 Spring St · Port Henry, NY 12974

$99,000

6 bd · 3.0 ba · 2,758 sqft · SingleFamily public records · 342 Days on market

Built 1870 8,712 sqft lot $36/sqft · 58% below area ↓ 21% 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 +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 MLS

THE PERFECT AIRBNB -This charming home features 5 bedrooms and 2 baths. This home evokes feelings of warmth & coziness the moment you walk in. As you can see this home has unique characteristics and been very well maintained through the years inside and out. Original hardwood floors, original claw foot tub. built in cabinets. The architectural details can be seen on the inside and outside of this home. You can invite company to join you on the large front porch & enjoy partial views of Lk Champlain. There is also a back yard to hang out in. This home would make the PERFECT airbnb! Call today to see it! Just needs a little TLC. Close to town, train station, Bridge to Vt. Adirondack Mountains & hiking trails and so much more that the Adirondacks has to offer. AS IS

Key facts

• Back yard
• Large front porch
• Built in cabinets

Tags

• ORIGINAL HARDWOOD FLOORS
• ORIGINAL CLAW FOOT TUB
• BUILT IN CABINETS
• LARGE FRONT PORCH
• BACK YARD
• HIKING TRAILS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.7% 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: 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.
• Zoned schools: Moriah Elementary School (math 42% / reading 47%, grade F, #1,277 of 2,108 statewide, top 64%, 385 students, 47% FRL); Moriah Junior-Senior High School (math 37% / reading 57%, grade D-, #1,007 of 1,100 statewide, top 93%, 316 students, 34% FRL) — zoned schools at 40% FRL track the district average.
• 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 $6k of equity ($684 loan paydown + $5k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, 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 342 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 342 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 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.55% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 5.4

CMA / ARV

• ARV (median comp): $233,114
• List price: $99,000
• Delta: -57.53%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.6%
• Equity multiple: 2.89×
• Total profit: $52,348
• Equity at exit: $58,806

10-year hold

• IRR: 28.0%
• Equity multiple: 5.84×
• Total profit: $134,050
• Equity at exit: $103,801

Cash invested: $27,720 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$228 /mo · $2,731/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $422

Break-even live

Break-even rent $997

Max offer price $99,000

Occupancy floor 67%

Sensitivity live

Price	-10% $478	-5% $450	+0% $422	+5% $394	+10% $366
Rent	-10% $301	-5% $362	+0% $422	+5% $483	+10% $543
Rate	-1.0pp $472	-0.5pp $448	base $422	+0.5pp $397	+1.0pp $371

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $99,000 Active 342 DOM
2. 2026-06-21
   days on market $99,000 Active 341 DOM
3. 2026-06-21
   days on market $99,000 Active 340 DOM
4. 2026-06-18
   days on market $99,000 Active 338 DOM
5. 2026-06-17
   days on market $99,000 Active 337 DOM
6. 2026-06-16
   days on market $99,000 Active 336 DOM
7. 2026-06-15
   days on market $99,000 Active 335 DOM
8. 2026-06-13
   days on market $99,000 Active 333 DOM
9. 2026-06-12
   days on market $99,000 Active 332 DOM
10. 2026-06-09
    days on market $99,000 Active 329 DOM
11. 2026-06-08
    days on market $99,000 Active 328 DOM
12. 2026-06-07
    days on market $99,000 Active 327 DOM
13. 2026-06-05
    days on market $99,000 Active 325 DOM
14. 2026-06-04
    days on market $99,000 Active 323 DOM
15. 2026-06-02
    days on market $99,000 Active 322 DOM
16. 2026-06-01
    days on market $99,000 Active 321 DOM
17. 2026-05-31
    days on market $99,000 Active 320 DOM
18. 2026-03-17
    price $99,000 786-char remark

    Show marketing remark (786 chars)

    THE PERFECT AIRBNB -This charming home features 5 bedrooms and 2 baths. This home evokes feelings of warmth & coziness the moment you walk in. As you can see this home has unique characteristics and been very well maintained through the years inside and out. Original hardwood floors, original claw foot tub. built in cabinets. The architectural details can be seen on the inside and outside of this home. You can invite company to join you on the large front porch & enjoy partial views of Lk Champlain. There is also a back yard to hang out in. This home would make the PERFECT airbnb! Call today to see it! Just needs a little TLC. Close to town, train station, Bridge to Vt. Adirondack Mountains & hiking trails and so much more that the Adirondacks has to offer. AS IS

19. 2025-09-15
    price $120,000 786-char remark

    Show marketing remark (786 chars)

    THE PERFECT AIRBNB -This charming home features 5 bedrooms and 2 baths. This home evokes feelings of warmth & coziness the moment you walk in. As you can see this home has unique characteristics and been very well maintained through the years inside and out. Original hardwood floors, original claw foot tub. built in cabinets. The architectural details can be seen on the inside and outside of this home. You can invite company to join you on the large front porch & enjoy partial views of Lk Champlain. There is also a back yard to hang out in. This home would make the PERFECT airbnb! Call today to see it! Just needs a little TLC. Close to town, train station, Bridge to Vt. Adirondack Mountains & hiking trails and so much more that the Adirondacks has to offer. AS IS

20. 2025-07-14
    listed $125,000 Active 786-char remark

    Show marketing remark (786 chars)

    THE PERFECT AIRBNB -This charming home features 5 bedrooms and 2 baths. This home evokes feelings of warmth & coziness the moment you walk in. As you can see this home has unique characteristics and been very well maintained through the years inside and out. Original hardwood floors, original claw foot tub. built in cabinets. The architectural details can be seen on the inside and outside of this home. You can invite company to join you on the large front porch & enjoy partial views of Lk Champlain. There is also a back yard to hang out in. This home would make the PERFECT airbnb! Call today to see it! Just needs a little TLC. Close to town, train station, Bridge to Vt. Adirondack Mountains & hiking trails and so much more that the Adirondacks has to offer. AS IS

ⓘ 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: $2,731 · $228/mo
• Projected year-2 tax: $2,731 · $228/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $18,385
• − Mortgage interest: −$5,546
• − Property taxes: −$2,731
• − Insurance: −$495
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$2,880
• Taxable income: $3,792
• Est. tax owed @ 24.0%: −$910
• After-tax cash flow: $4,158/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

-20.8% since first listed

3 events — show timeline

• 2026-03-17 Price Changed $99,000 Global MLS
• 2025-09-15 Price Changed $120,000 Global MLS
• 2025-07-14 Listed $125,000 Global MLS

Property tax history

+9.9%/yr

Latest (2025): $2,731 · +31.4% YoY. Source: county tax records.