3197 Plank Rd · Mineville, NY 12956

$125,000

4 bd · 3.0 ba · 2,604 sqft · MultiFamily public records · 231 Days on market

Built 1900 0.35 ac lot $48/sqft · 121% above 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
• Schools +4.0/10.0
• Livability +3.1/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Solid 6-Bedroom Duplex - Low Expenses, High Potential! Discover a smart investment in the heart of Mineville. This spacious duplex is a rare find, featuring two large 3-bedroom units, each with its own private entrance and efficient layout. This property is designed for low-stress ownership: tenants pay their own separate utilities, keeping your overhead predictable and your margins high. With a consistent rental history and a location convenient to local schools, recreation, and the Northway, it's an ideal choice for a seasoned investor looking to grow their portfolio or a first-time buyer seeking supplemental income. Well-maintained and economically designed, this property offers a solid foundation for your real estate goals.

Key facts

• Recreation
• Solid rental history
• Private entrance

Tags

• PRIVATE ENTRANCE
• SOLID RENTAL HISTORY
• LOCAL AMENITIES
• SCHOOLS
• RECREATION

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $510/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#891 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools F, amenities F, commute F.
• Moriah Central School District (rural): math 41% / reading 52% proficiency, ranked #445 of 590 in NY (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 218 units permitted in Essex County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Essex 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 $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 231 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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.
• Current owner paid $55k; list at $125k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.98% ✓
• Cap rate: 16.09%
• Cash-on-cash: 34.98%
• DSCR: 2.56
• GRM: 4.2

CMA / ARV

• ARV (median comp): $56,546
• List price: $125,000
• Delta: 121.06%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 51.1%
• Equity multiple: 4.80×
• Total profit: $133,135
• Equity at exit: $112,610

10-year hold

• IRR: 44.8%
• Equity multiple: 10.75×
• Total profit: $341,117
• Equity at exit: $242,848

Cash invested: $35,000 (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 12956

• Home prices YoY: 4.1%
• Active inventory: 12
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,469 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$223 /mo · $2,672/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $1,020

Break-even live

Break-even rent $1,178

Max offer price $125,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,091	-5% $1,056	+0% $1,020	+5% $985	+10% $949
Rent	-10% $825	-5% $923	+0% $1,020	+5% $1,118	+10% $1,215
Rate	-1.0pp $1,083	-0.5pp $1,052	base $1,020	+0.5pp $988	+1.0pp $955

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,470
Total (2 units)			$2,469

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $125,000 Active 231 DOM
2. 2026-06-21
   days on market $125,000 Active 230 DOM
3. 2026-06-18
   days on market $125,000 Active 228 DOM
4. 2026-06-17
   days on market $125,000 Active 227 DOM
5. 2026-06-16
   days on market $125,000 Active 226 DOM
6. 2026-06-15
   days on market $125,000 Active 225 DOM
7. 2026-06-13
   days on market $125,000 Active 223 DOM
8. 2026-06-12
   days on market $125,000 Active 222 DOM
9. 2026-06-09
   days on market $125,000 Active 219 DOM
10. 2026-06-08
    days on market $125,000 Active 218 DOM
11. 2026-06-07
    days on market $125,000 Active 217 DOM
12. 2026-06-05
    days on market $125,000 Active 215 DOM
13. 2026-06-04
    days on market $125,000 Active 213 DOM
14. 2026-06-02
    days on market $125,000 Active 212 DOM
15. 2026-06-01
    days on market $125,000 Active 211 DOM
16. 2026-05-31
    days on market $125,000 Active 210 DOM
17. 2025-11-02
    listed $125,000 Active 740-char remark

    Show marketing remark (740 chars)

    Solid 6-Bedroom Duplex - Low Expenses, High Potential! Discover a smart investment in the heart of Mineville. This spacious duplex is a rare find, featuring two large 3-bedroom units, each with its own private entrance and efficient layout. This property is designed for low-stress ownership: tenants pay their own separate utilities, keeping your overhead predictable and your margins high. With a consistent rental history and a location convenient to local schools, recreation, and the Northway, it's an ideal choice for a seasoned investor looking to grow their portfolio or a first-time buyer seeking supplemental income. Well-maintained and economically designed, this property offers a solid foundation for your real estate goals.

18. 2021-07-02
    historical 402-char remark

    Show marketing remark (402 chars)

    New Listing! Side-by-Side Duplex - With a great rental history and in a good location. Very neat and clean. Each unit has its own utilities. Many upgrades including new furnaces, paint, new windows and more. This would be a a great owner occupied(live in one side and rent the other side - This will pay your mortgage payment.) A Win-Win situation! Or buy as an investment. Call today for more details.

19. 2021-07-02
    soldstatus $55,000

    Show marketing remark (402 chars)

    New Listing! Side-by-Side Duplex - With a great rental history and in a good location. Very neat and clean. Each unit has its own utilities. Many upgrades including new furnaces, paint, new windows and more. This would be a a great owner occupied(live in one side and rent the other side - This will pay your mortgage payment.) A Win-Win situation! Or buy as an investment. Call today for more details.

20. 2021-02-11
    listed $59,000 402-char remark

    Show marketing remark (402 chars)

    New Listing! Side-by-Side Duplex - With a great rental history and in a good location. Very neat and clean. Each unit has its own utilities. Many upgrades including new furnaces, paint, new windows and more. This would be a a great owner occupied(live in one side and rent the other side - This will pay your mortgage payment.) A Win-Win situation! Or buy as an investment. Call today for more details.

21. 2021-02-08
    listed $59,000
22. 2018-11-13
    historical
23. 2018-07-17
    listed $49,000
24. 2005-06-30
    soldstatus $42,275

ⓘ 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: $2,672 · $223/mo
• Projected year-2 tax: $2,672 · $223/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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% 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: $29,628
• − Mortgage interest: −$7,002
• − Property taxes: −$2,672
• − Insurance: −$625
• − Repairs & maintenance: −$2,370
• − Management: −$2,370
• − Depreciation: −$3,636
• Taxable income: $10,952
• Est. tax owed @ 24.0%: −$2,628
• After-tax cash flow: $9,614/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: Moriah Central School District
• NCES district ID: 3619830
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $46,940
• Composite: 39.55/100
• National rank: #3937
• State rank: #445 of 590 in NY

Livability — Mineville

• Score: 62/100
• State rank: #891
• US rank: #17259

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mineville, NY
• Population (ZIP): 1,538

Population outlook (Essex County) Hauer SSP2

• Today (2025): 36,758 people
• By 2030: 35,697 · -2.9%
• By 2040: 32,697 · -11.0%
• By 2050: 29,248 · -20.4%
• By 2075: 22,641 · -38.4%
• By 2100: 16,602 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 14% Romanian 5% Serbian 3%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 88% English-only · Other Indo-European 8% German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Essex

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -12.8pp toward R · 2008: 13.3pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+5.0 2016: R+3.4 2012: D+15.0 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.05%
• Current HPI: 328.4682
• 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

+195.7% since first listed

8 events — show timeline

• 2025-11-02 Listed $125,000 ACVMLS
• 2021-07-02 Sold (MLS) $55,000 ACVMLS
• 2021-07-02 Listing Removed — Global MLS
• 2021-02-11 Listed $59,000 Global MLS
• 2021-02-08 Listed $59,000 ACVMLS
• 2018-11-13 Listing Removed — Global MLS
• 2018-07-17 Listed $49,000 Global MLS
• 2005-06-30 Sold (Public Records) $42,275 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,672 · +42.6% YoY. Source: county tax records.