37 1/2 West St · Whitehall, NY 12887

$59,000

2 bd · 1.0 ba · 603 sqft · SingleFamily · 279 Days on market

Built 1930 Fair condition 2,178 sqft lot $98/sqft · 64% below area ↓ 5% since listing

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Charming 2-Bed Cottage - Major Upgrades Done! Solid and refreshed, Welcome to this cozy 2-bedroom, 1-bath home tucked back and private! Enjoy the peace of mind that comes with a brand-new roof and a new electric heating system. Needs kitchen cabinets and ready for your final touches. Shared driveway

Key facts

• Brand new roof
• Private lil yard
• 2,178 sq ft lot

Tags

• PRIVATE LIL YARD
• BRAND NEW ROOF
• BRAND NEW ELECTRIC HEAT SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 6.3% in Whitehall — 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 56/100 on livability (#1,103 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Whitehall Central School District (rural): math 32% / reading 47% proficiency, ranked #530 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 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 $6k of equity ($408 loan paydown + $6k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.63% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.63%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (median comp): $165,348
• List price: $59,000
• Delta: -64.32%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
39 First Ave	0.69mi	1/1.0 (-1)	560 (-7%)	10mo	$65,000	$116	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 43.6%
• Equity multiple: 4.31×
• Total profit: $54,616
• Equity at exit: $53,152

10-year hold

• IRR: 37.7%
• Equity multiple: 9.67×
• Total profit: $143,196
• Equity at exit: $114,624

Cash invested: $16,520 (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 12887

• Active inventory: 41
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $353

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 58%

Sensitivity live

Price	-10% $394	-5% $373	+0% $353	+5% $332	+10% $312
Rent	-10% $277	-5% $315	+0% $353	+5% $391	+10% $429
Rate	-1.0pp $382	-0.5pp $368	base $353	+0.5pp $337	+1.0pp $322

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $59,000 Active 279 DOM
2. 2026-06-18
   days on market $59,000 Active 277 DOM
3. 2026-06-17
   days on market $59,000 Active 276 DOM
4. 2026-06-17
   price $59,000 Active 275 DOM
5. 2026-06-16
   days on market $60,000 Active 275 DOM
6. 2026-06-15
   days on market $60,000 Active 274 DOM
7. 2026-06-13
   days on market $60,000 Active 272 DOM
8. 2026-06-12
   days on market $60,000 Active 271 DOM
9. 2026-06-09
   days on market $60,000 Active 268 DOM
10. 2026-06-08
    days on market $60,000 Active 267 DOM
11. 2026-06-07
    days on market $60,000 Active 266 DOM
12. 2026-06-07
    days on market $60,000 Active 265 DOM
13. 2026-06-04
    days on market $60,000 Active 262 DOM
14. 2026-06-02
    days on market $60,000 Active 261 DOM
15. 2026-06-01
    days on market $60,000 Active 260 DOM
16. 2026-05-31
    remarks 342-char remark
17. 2026-05-31
    days on market $60,000 Active 259 DOM
18. 2025-12-17
    price $62,000 304-char remark

    Show marketing remark (304 chars)

    Charming 2-Bed Cottage - Major Upgrades Done! Solid and refreshed, Welcome to this cozy 2-bedroom, 1-bath home tucked back and private! Enjoy the peace of mind that comes with a brand-new roof and a new electric heating system. Needs kitchen cabinets and ready for your final touches. Shared driveway

19. 2025-10-13
    price $61,000 304-char remark

    Show marketing remark (304 chars)

    Charming 2-Bed Cottage - Major Upgrades Done! Solid and refreshed, Welcome to this cozy 2-bedroom, 1-bath home tucked back and private! Enjoy the peace of mind that comes with a brand-new roof and a new electric heating system. Needs kitchen cabinets and ready for your final touches. Shared driveway

20. 2025-09-14
    listed $62,000 Active 304-char remark

    Show marketing remark (304 chars)

    Charming 2-Bed Cottage - Major Upgrades Done! Solid and refreshed, Welcome to this cozy 2-bedroom, 1-bath home tucked back and private! Enjoy the peace of mind that comes with a brand-new roof and a new electric heating system. Needs kitchen cabinets and ready for your final touches. Shared driveway

21. 2025-09-06
    historical
22. 2025-08-27
    listed $65,000 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $11,552
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$1,716
• Taxable income: $3,503
• Est. tax owed @ 24.0%: −$841
• After-tax cash flow: $3,393/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 · 7 photos

Fair 45/100 Moderate rehab

This 2-bedroom cottage requires moderate renovations, focusing on kitchen and bathroom updates, and landscaping to enhance its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — Exposed plumbing and missing cabinets
• Major Bathroom fixtures — Exposed plumbing and missing fixtures
• Minor Landscaping — Overgrown vegetation

Value-add opportunities

• Resale Kitchen cabinets — Modern kitchen cabinets improve aesthetics and functionality
• Resale Bathroom fixtures — Complete bathroom with fixtures enhances appeal
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Exposed plumbing and missing cabinets	Major	$15,000–50,000
Bathroom fixtures · Exposed plumbing and missing fixtures	Major	$15,000–50,000
Landscaping · Overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Kitchen cabinets — Modern kitchen cabinets improve aesthetics and functionality ↑
• Resale Bathroom fixtures — Complete bathroom with fixtures enhances appeal ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value ↑

ⓘ 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: Whitehall Central School District
• NCES district ID: 3631290
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $43,563
• Composite: 33.4/100
• National rank: #5477
• State rank: #530 of 590 in NY

Livability — Whitehall

• Score: 56/100
• State rank: #1103
• US rank: #22538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitehall, NY
• Population (ZIP): 4,629

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 (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 3%
• Common ancestry: Lithuanian 15% Polish 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 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: ▲ 122.64%
• Current HPI: 354.5975
• 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

-4.6% since first listed

5 events — show timeline

• 2025-12-17 Price Changed $62,000 Global MLS
• 2025-10-13 Price Changed $61,000 Global MLS
• 2025-09-14 Listed $62,000 Global MLS
• 2025-09-06 Listing Removed — Global MLS
• 2025-08-27 Listed $65,000 Global MLS