103-107 High St · Theresa, NY 13691

$254,000

6 bd · 3.0 ba · 3,304 sqft · MultiFamily public records · 51 Days on market

Built 1925 0.26 ac 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 +26.8/30.0
• DSCR +9.2/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Triplex located in the heat of Theresa currently generating $2,750/month in rent. Opportunity exist to increase rents to market! Current owner made many investments in the property post purchase including new paint job, exterior stairs being rebuilt, two total unit makeovers with paint, flooring and some appliances. Additionally secured reliable tenant base. This one checks all the boxes! Cash flow, 1% rule, low maintenance and convenient location to Ft. Drum, Rt. 37 and I-81. For Potential Buyers: Must submit pre-approval or verification of funds prior to scheduling a showing. In an effort to minimize impact on current tenants, we may try to line up multiple showings on certain days. Don't

Key facts

• New paint job
• Unit makeovers
• 0.26 acre lot

Tags

• NEW PAINT JOB
• EXTERIOR STAIRS BEING REBUILT
• UNIT MAKEOVERS
• CONVENIENT LOCATION TO FT DRUM
• CONVENIENT LOCATION TO RT 37
• CONVENIENT LOCATION TO I-81

Property features AI

Exterior

• Parking: No garage; Driveway parking
• Utilities: Public water connected; Sewer connected; Electric service
• Home design: Two-story residence; Existing structure
• Construction: Frame construction; Metal roof; Block foundation; Built as resale (existing)
• Exterior features: Blacktop driveway; City street frontage; Irregular residential lot

Interior

• Kitchen: Electric cooktop and electric oven/range; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Laminate; Luxury vinyl; Vinyl; Varies
• Bathrooms: Three full bathrooms; Two of the bathrooms are on the main level
• Heating & cooling: Electric baseboard heating; Heating details listed as 'see remarks'
• Interior features: Varied interior finishes and features (see remarks)
• Laundry & utility: Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $254k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $254k).
• Recommended offer: $246k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#693 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: employment D, health & safety D, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.6% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $254k implies a 694% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.52×
• Total profit: $108,425
• Equity at exit: $153,695

10-year hold

• IRR: 22.5%
• Equity multiple: 5.06×
• Total profit: $288,835
• Equity at exit: $273,697

Cash invested: $71,120 (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 13691

• Home prices YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $3,062 medium
• Mortgage (P&I): −$1,332
• Tax from tax record: −$287 /mo · $3,448/yr
• Insurance: −$106
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $638

Break-even live

Break-even rent $2,254

Max offer price $254,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,063
Total (3 units)			$3,062

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $254,000 Active 51 DOM
2. 2026-06-18
   days on market $254,000 Active 50 DOM
3. 2026-06-17
   days on market $254,000 Active 49 DOM
4. 2026-06-16
   days on market $254,000 Active 48 DOM
5. 2026-06-15
   days on market $254,000 Active 47 DOM
6. 2026-06-14
   days on market $254,000 Active 45 DOM
7. 2026-06-12
   pricedays on market $254,000 Active 44 DOM
8. 2026-06-09
   days on market $259,000 Active 41 DOM
9. 2026-06-08
   days on market $259,000 Active 40 DOM
10. 2026-06-07
    days on market $259,000 Active 39 DOM
11. 2026-06-05
    days on market $259,000 Active 36 DOM
12. 2026-06-03
    days on market $259,000 Active 35 DOM
13. 2026-06-02
    days on market $259,000 Active 34 DOM
14. 2026-06-01
    days on market $259,000 Active 33 DOM
15. 2026-05-31
    days on market $259,000 Active 32 DOM
16. 2026-05-30
    days on market $259,000 Active 31 DOM
17. 2026-04-29
    listed $259,000 Active
18. 2004-09-17
    soldstatus $32,000

ⓘ 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: $3,448 · $287/mo
• Projected year-2 tax: $3,871 · $323/mo
• Expected delta: +$422/yr (+$35/mo · 12.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $36,744
• − Mortgage interest: −$14,228
• − Property taxes: −$3,448
• − Insurance: −$1,936
• − Repairs & maintenance: −$2,940
• − Management: −$2,940
• − Depreciation: −$7,389
• Taxable income: $3,863
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $6,732/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: Indian River Central School District
• NCES district ID: 3615300
• Math proficiency: 33% ▼ -21.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $45,599
• Composite: 35.25/100
• National rank: #4977
• State rank: #502 of 590 in NY

Livability — Theresa

• Score: 65/100
• State rank: #693
• US rank: #13103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Theresa, NY
• Population (ZIP): 3,172

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 12% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 2% Romanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.63%
• Current HPI: 459.7016
• 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

+709.4% since first listed

2 events — show timeline

• 2026-04-29 Listed $259,000 CNYIS
• 2004-09-17 Sold (Public Records) $32,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $3,448 · +0.3% YoY. Source: county tax records.