37 Waller St · Tupper Lake, NY 12973

$75,000

3 bd · 1.0 ba · 792 sqft · SingleFamily public records · 42 Days on market

Built 1910 5,227 sqft 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +8.7/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Recently renovated 4BR, 1BA home in the hamlet of Piercefield. Recent upgrades include a large addition featuring a new dining room, new bathroom and a large master bedroom. The kitchen and living room have an open floor plan with the living room having gorgeous solid wood wall paneling. The kitchen has wonderful counterspace with a breakfast bar and upgraded appliances. The large level back yard with outdoor fireplace is a great area for kids to play. Only one block away from the community playground.

Key facts

• Raquette river
• 5,227 sq ft lot
• Built 1910

Tags

• RAQUETTE RIVER
• 20 MINUTES FROM TUPPER LAKE
• INTERIOR HAS BEEN RENOVATED
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 1.8% in Tupper Lake — 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 66/100 on livability (#661 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+, crime B; Watch: health & safety C-, employment D+, schools D-.
• Tupper Lake Central School District (rural): math 36% / reading 31% proficiency, ranked #561 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($519 loan paydown + $4k appreciation (5.9% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, 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 42 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago 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: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1910 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.37% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.00%
• DSCR: 1.58
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 2.71×
• Total profit: $35,950
• Equity at exit: $46,879

10-year hold

• IRR: 24.5%
• Equity multiple: 5.50×
• Total profit: $94,573
• Equity at exit: $84,781

Cash invested: $21,000 (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 12973

• Home prices YoY: 3.9%
• Active inventory: 7
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $228

Break-even live

Break-even rent $739

Max offer price $75,000

Occupancy floor 73%

Sensitivity live

Price	-10% $270	-5% $249	+0% $228	+5% $206	+10% $185
Rent	-10% $146	-5% $187	+0% $228	+5% $268	+10% $309
Rate	-1.0pp $265	-0.5pp $247	base $228	+0.5pp $208	+1.0pp $188

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-30
   status Pending
2. 2026-02-13
   listed $75,000 Active
3. 2025-09-20
   price $83,000
4. 2021-07-01
   soldstatus $105,000 507-char remark

   Show marketing remark (507 chars)

   Recently renovated 4BR, 1BA home in the hamlet of Piercefield. Recent upgrades include a large addition featuring a new dining room, new bathroom and a large master bedroom. The kitchen and living room have an open floor plan with the living room having gorgeous solid wood wall paneling. The kitchen has wonderful counterspace with a breakfast bar and upgraded appliances. The large level back yard with outdoor fireplace is a great area for kids to play. Only one block away from the community playground.

5. 2020-10-09
   listed $119,000 507-char remark

   Show marketing remark (507 chars)

   Recently renovated 4BR, 1BA home in the hamlet of Piercefield. Recent upgrades include a large addition featuring a new dining room, new bathroom and a large master bedroom. The kitchen and living room have an open floor plan with the living room having gorgeous solid wood wall paneling. The kitchen has wonderful counterspace with a breakfast bar and upgraded appliances. The large level back yard with outdoor fireplace is a great area for kids to play. Only one block away from the community playground.

6. 2015-07-06
   soldstatus $53,000

ⓘ 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: $1,908 · $159/mo
• Projected year-2 tax: $1,908 · $159/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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 16 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: $12,321
• − Mortgage interest: −$4,201
• − Property taxes: −$1,908
• − Insurance: −$375
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$2,182
• Taxable income: $1,683
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $2,327/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: Tupper Lake Central School District
• NCES district ID: 3629160
• Math proficiency: 36% ▲ 1.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $50,543
• Composite: 29.18/100
• National rank: #6572
• State rank: #561 of 590 in NY

Livability — Tupper Lake

• Score: 66/100
• State rank: #661
• US rank: #12343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,304
• Population (ZIP): 136

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 4%
• Common ancestry: Lithuanian 26% Hungarian 3%
• Foreign-born: 15% · China, Canada

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.94%
• Current HPI: 159.5659
• 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

+41.5% since first listed

6 events — show timeline

• 2026-03-30 Pending — ACVMLS
• 2026-02-13 Listed $75,000 ACVMLS
• 2025-09-20 Price Changed $83,000 ACVMLS
• 2021-07-01 Sold (MLS) $105,000 ACVMLS
• 2020-10-09 Listed $119,000 ACVMLS
• 2015-07-06 Sold (Public Records) $53,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,908 · -2.9% YoY. Source: county tax records.