162 State Highway 67 · Palatine Bridge, NY 13339

$64,999

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 95 Days on market

Built 1917 1.00 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3-bedroom, 2-bath home located at 162 State Highway 67 in Fort Plain, NY. Great opportunity for investors, flippers, or buyers looking to renovate and add value. The property offers a spacious layout with plenty of potential to update and customize. Conveniently located with easy access to local amenities, shopping, and major roadways while still offering a more rural setting. Property is being sold as-is. Cash buyers only. 10% deposit due at contract signing. Hard money financing may be available for qualified borrowers.

Key facts

• 1 acre lot
• 6 parking spots
• Built 1917

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#663 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, crime F.
• Johnstown City School District (town): math 35% / reading 47% proficiency, ranked #509 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($449 loan paydown + $3k appreciation (5.2% local appreciation)).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,149 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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 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. Crime grade is F 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: 1.83% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $252,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4297 State Highway 10	0.34mi	3/2.0	1,512 (+5%)	6mo	$265,000	$175	71

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

Projected returns pro-forma

5.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 2.96×
• Total profit: $35,605
• Equity at exit: $37,775

10-year hold

• IRR: 29.5%
• Equity multiple: 5.97×
• Total profit: $90,542
• Equity at exit: $65,987

Cash invested: $18,200 (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 13339

• Home prices YoY: 1.7%
• Active inventory: 44
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,192 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$266 /mo · $3,187/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $308

Break-even live

Break-even rent $802

Max offer price $64,999

Occupancy floor 69%

Sensitivity live

Price	-10% $537	-5% $515	+0% $308	+5% $289	+10% $271
Rent	-10% $214	-5% $261	+0% $308	+5% $355	+10% $402
Rate	-1.0pp $341	-0.5pp $324	base $308	+0.5pp $291	+1.0pp $274

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $64,999 Active 95 DOM
2. 2026-06-18
   days on market $64,999 Active 93 DOM
3. 2026-06-17
   days on market $64,999 Active 92 DOM
4. 2026-06-17
   price $64,999 Active 91 DOM
5. 2026-06-16
   days on market $69,999 Active 91 DOM
6. 2026-06-15
   days on market $69,999 Active 90 DOM
7. 2026-06-13
   days on market $69,999 Active 88 DOM
8. 2026-06-12
   days on market $69,999 Active 87 DOM
9. 2026-06-09
   days on market $69,999 Active 84 DOM
10. 2026-06-08
    days on market $69,999 Active 83 DOM
11. 2026-06-07
    days on market $69,999 Active 82 DOM
12. 2026-06-07
    days on market $69,999 Active 81 DOM
13. 2026-06-04
    days on market $69,999 Active 78 DOM
14. 2026-06-02
    days on market $69,999 Active 77 DOM
15. 2026-06-01
    days on market $69,999 Active 76 DOM
16. 2026-05-31
    days on market $69,999 Active 75 DOM
17. 2026-05-12
    price $69,999 530-char remark

    Show marketing remark (530 chars)

    3-bedroom, 2-bath home located at 162 State Highway 67 in Fort Plain, NY. Great opportunity for investors, flippers, or buyers looking to renovate and add value. The property offers a spacious layout with plenty of potential to update and customize. Conveniently located with easy access to local amenities, shopping, and major roadways while still offering a more rural setting. Property is being sold as-is. Cash buyers only. 10% deposit due at contract signing. Hard money financing may be available for qualified borrowers.

18. 2026-04-06
    price $74,999 530-char remark

    Show marketing remark (530 chars)

    3-bedroom, 2-bath home located at 162 State Highway 67 in Fort Plain, NY. Great opportunity for investors, flippers, or buyers looking to renovate and add value. The property offers a spacious layout with plenty of potential to update and customize. Conveniently located with easy access to local amenities, shopping, and major roadways while still offering a more rural setting. Property is being sold as-is. Cash buyers only. 10% deposit due at contract signing. Hard money financing may be available for qualified borrowers.

19. 2026-03-17
    listed $79,999 Active 530-char remark

    Show marketing remark (530 chars)

    3-bedroom, 2-bath home located at 162 State Highway 67 in Fort Plain, NY. Great opportunity for investors, flippers, or buyers looking to renovate and add value. The property offers a spacious layout with plenty of potential to update and customize. Conveniently located with easy access to local amenities, shopping, and major roadways while still offering a more rural setting. Property is being sold as-is. Cash buyers only. 10% deposit due at contract signing. Hard money financing may be available for qualified borrowers.

20. 2025-09-04
    historical
21. 2025-07-16
    price $99,900
22. 2025-05-30
    price $119,900
23. 2025-05-08
    listed $129,900 Active
24. 2024-10-18
    status Active
25. 2024-06-26
    status Pending
26. 2024-06-26
    historical
27. 2024-05-28
    listed $104,500 Active
28. 2017-10-04
    soldstatus $67,840
29. 2013-02-14
    soldstatus $50,900
30. 2013-02-13
    soldstatus $50,900
31. 2012-11-29
    historical
32. 2012-07-24
    listed $59,900

ⓘ 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: $3,187 · $266/mo
• Projected year-2 tax: $3,187 · $266/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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,300
• − Mortgage interest: −$3,641
• − Property taxes: −$3,187
• − Insurance: −$325
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$1,891
• Taxable income: $2,968
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $2,982/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: Johnstown City School District
• NCES district ID: 3615980
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $45,999
• Composite: 34.89/100
• National rank: #5082
• State rank: #509 of 590 in NY

Livability — Palatine Bridge

• Score: 66/100
• State rank: #663
• US rank: #12360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,131

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 10% Lithuanian 9% Romanian 5%
• Foreign-born: 1%
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.24%
• Current HPI: 320.8989
• 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

+16.9% since first listed

16 events — show timeline

• 2026-05-12 Price Changed $69,999 Global MLS
• 2026-04-06 Price Changed $74,999 Global MLS
• 2026-03-17 Listed $79,999 Global MLS
• 2025-09-04 Listing Removed — Global MLS
• 2025-07-16 Price Changed $99,900 Global MLS
• 2025-05-30 Price Changed $119,900 Global MLS
• 2025-05-08 Listed $129,900 Global MLS
• 2024-10-18 Relisted — Global MLS
• 2024-06-26 Pending — Global MLS
• 2024-06-26 Listing Removed — Global MLS
• 2024-05-28 Listed $104,500 Global MLS
• 2017-10-04 Sold (Public Records) $67,840 Public Records
• 2013-02-14 Sold (Public Records) $50,900 Public Records
• 2013-02-13 Sold (MLS) $50,900 Global MLS
• 2012-11-29 Listing Removed — Global MLS
• 2012-07-24 Listed $59,900 Global MLS

Property tax history

+3.0%/yr

Latest (2025): $3,187 · +12.2% YoY. Source: county tax records.