278 West Main Street St · Malone, NY 12953

$59,900

2 bd · 1.0 ba · 1,250 sqft · SingleFamily public records · 296 Days on market

Built 1880 9,147 sqft lot $48/sqft · 53% below area

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This 2-Bedroom Home is in Good shape has a Den on the main floor with french doors off the Dinning Room that can be and is being used as the 3rd Bedroom-has a large Pantry/Laundry Room off the Kitchen-2-Bedrooms and a full Bath on the second floor-front and side enclosed porches-2-Car detached Garage with a nice size back yard. 278-280-and 274 West Main can be drastically reduced if purchased as a Package deal

Key facts

• Enclosed porches
• Laundry room
• French doors

Tags

• DEN ON MAIN FLOOR
• FRENCH DOORS
• LARGE PANTRY
• LAUNDRY ROOM
• ENCLOSED PORCHES
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 5.2% in Malone — 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 70/100 on livability (#437 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime D-, amenities F.
• Malone Central School District (town): math 27% / reading 29% proficiency, ranked #581 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Davis Elementary School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 563 students, 50% FRL); Malone Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 500 students, 52% FRL); Franklin Academy High School (math 82% / reading 70%, grade A-, #623 of 1,100 statewide, top 57%, 719 students, 47% FRL).
• Market conditions: 115 active listings in the ZIP; 124 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Franklin County population projected at -14% 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 ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 296 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 1880 — 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. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.66% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 5.0

CMA / ARV

• ARV (median comp): $128,244
• List price: $59,900
• Delta: -53.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 Frankln St	0.27mi	2/1.0	1,200 (-4%)	2mo	$97,850	$82	79
72 Wellington St	0.23mi	3/1.0 (+1)	1,188 (-5%)	15mo	$118,453	$100	64
27 Front st St	0.37mi	3/2.0 (+1)	1,208 (-3%)	12mo	$38,000	$31	58
139 Franklin St	0.44mi	3/1.5 (+1)	1,284 (+3%)	18mo	$160,000	$125	53
11 Grove St. St	0.26mi	3/1.5 (+1)	1,350 (+8%)	19mo	$125,500	$93	52
15 Jones St	0.31mi	3/1.0 (+1)	1,063 (-15%)	8mo	$165,000	$155	48
117 Duane Street St	0.54mi	3/1.0 (+1)	1,158 (-7%)	12mo	$82,000	$71	48
47 Amsden St	0.44mi	3/1.0 (+1)	1,068 (-15%)	4mo	$75,000	$70	48
6 Woodward St St	0.72mi	3/1.5 (+1)	1,160 (-7%)	3mo	$130,000	$112	45
31 Factory Street St	0.45mi	3/1.0 (+1)	1,156 (-8%)	22mo	$14,000	$12	43
14 South St	0.71mi	3/1.0 (+1)	1,133 (-9%)	6mo	$91,000	$80	41
57 West Street St	0.56mi	3/1.0 (+1)	1,400 (+12%)	16mo	$73,500	$53	35

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: 37.2%
• Equity multiple: 3.87×
• Total profit: $48,192
• Equity at exit: $53,963

10-year hold

• IRR: 32.1%
• Equity multiple: 8.75×
• Total profit: $129,934
• Equity at exit: $116,373

Cash invested: $16,772 (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 12953

• Home prices YoY: 7.2%
• Active inventory: 115
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $994 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$203 /mo · $2,434/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $243

Break-even live

Break-even rent $686

Max offer price $59,900

Occupancy floor 71%

Sensitivity live

Price	-10% $277	-5% $260	+0% $243	+5% $226	+10% $209
Rent	-10% $164	-5% $204	+0% $243	+5% $282	+10% $321
Rate	-1.0pp $273	-0.5pp $258	base $243	+0.5pp $227	+1.0pp $212

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   statusdays on market $59,900 Pending 296 DOM
2. 2026-06-18
   days on market $59,900 Active 294 DOM
3. 2026-06-17
   days on market $59,900 Active 293 DOM
4. 2026-06-16
   days on market $59,900 Active 292 DOM
5. 2026-06-15
   days on market $59,900 Active 291 DOM
6. 2026-06-13
   days on market $59,900 Active 289 DOM
7. 2026-06-12
   days on market $59,900 Active 288 DOM
8. 2026-06-09
   days on market $59,900 Active 285 DOM
9. 2026-06-08
   days on market $59,900 Active 284 DOM
10. 2026-06-07
    days on market $59,900 Active 283 DOM
11. 2026-06-07
    days on market $59,900 Active 282 DOM
12. 2026-06-04
    days on market $59,900 Active 279 DOM
13. 2026-06-02
    days on market $59,900 Active 278 DOM
14. 2026-06-01
    days on market $59,900 Active 277 DOM
15. 2026-05-31
    days on market $59,900 Active 276 DOM
16. 2026-05-13
    price $59,900 413-char remark

    Show marketing remark (413 chars)

    This 2-Bedroom Home is in Good shape has a Den on the main floor with french doors off the Dinning Room that can be and is being used as the 3rd Bedroom-has a large Pantry/Laundry Room off the Kitchen-2-Bedrooms and a full Bath on the second floor-front and side enclosed porches-2-Car detached Garage with a nice size back yard. 278-280-and 274 West Main can be drastically reduced if purchased as a Package deal

17. 2026-01-19
    price $69,900 413-char remark

    Show marketing remark (413 chars)

    This 2-Bedroom Home is in Good shape has a Den on the main floor with french doors off the Dinning Room that can be and is being used as the 3rd Bedroom-has a large Pantry/Laundry Room off the Kitchen-2-Bedrooms and a full Bath on the second floor-front and side enclosed porches-2-Car detached Garage with a nice size back yard. 278-280-and 274 West Main can be drastically reduced if purchased as a Package deal

18. 2025-08-28
    listed $79,900 Active 413-char remark

    Show marketing remark (413 chars)

    This 2-Bedroom Home is in Good shape has a Den on the main floor with french doors off the Dinning Room that can be and is being used as the 3rd Bedroom-has a large Pantry/Laundry Room off the Kitchen-2-Bedrooms and a full Bath on the second floor-front and side enclosed porches-2-Car detached Garage with a nice size back yard. 278-280-and 274 West Main can be drastically reduced if purchased as a Package deal

19. 1999-02-03
    soldstatus $45,000

ⓘ 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: $2,434 · $203/mo
• Projected year-2 tax: $2,434 · $203/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 · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,923
• − Mortgage interest: −$3,355
• − Property taxes: −$2,434
• − Insurance: −$300
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$1,743
• Taxable income: $2,183
• Est. tax owed @ 24.0%: −$524
• After-tax cash flow: $2,392/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: Malone Central School District
• NCES district ID: 3618180
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $46,681
• Composite: 24.23/100
• National rank: #7725
• State rank: #581 of 590 in NY

Livability — Malone

• Score: 70/100
• State rank: #437
• US rank: #7656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Malone, NY
• Population (ZIP): 12,842

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 48,098 people
• By 2030: 46,790 · -2.7%
• By 2040: 44,400 · -7.7%
• By 2050: 41,256 · -14.2%
• By 2075: 32,190 · -33.1%
• By 2100: 23,407 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 16% Slovak 5% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Lean R (+9.0) · D 45.5% · R 54.5%
• 2008→2024 swing: -31.2pp toward R · 2008: 22.2pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+2.2 2016: R+7.4 2012: D+26.3 2008: D+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.73%
• Current HPI: 263.2406
• 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

+33.1% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $59,900 ACVMLS
• 2026-01-19 Price Changed $69,900 ACVMLS
• 2025-08-28 Listed $79,900 ACVMLS
• 1999-02-03 Sold (Public Records) $45,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $2,434 · -0.7% YoY. Source: county tax records.