423 Gilpin Bay RdSaranac LakeNY12983
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayNot all U.S. investment properties are valued for current income. 423 Gilpin Bay Rd, Saranac Lake, NY, 12983 in Saranac Lake at $999,000, 1.29% gross yield, is a market-growth asset. Rental yield 1.29%. The $1,074/mo rent partially funds the $4,492/mo debt service; the core return is the 5%/yr price growth projected to add $276,005 over five years. Ziffy Mortgage's DSCR mortgage (0.24) provides financing for foreign nationals without domestic income checks. A 30–35% down payment often produces the cleanest coverage for low-yield properties. Total five-year return: $20,774.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 1.3% | 6.2% |
| Monthly Cash Flow | $(5,597) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,074 |
| Total Monthly Debt Service | $6,274 |
| DSCR Ratio | 0.17x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 12983, Saranac Lake, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,105 (100%) |
| Owner Occupied HU | 2,093 (41.0%) |
| Renter Occupied HU | 1,597 (31.3%) |
| Vacant Housing Units | 1,415 (27.7%) |
| Median Home Value | $245,250 |
| Average Home Value | $364,080 |
Housing Distribution
Address Breakdown
Residential
3,628
Single Family
3,194
Multi-Family
434
Businesses
570
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 12983, Saranac Lake, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,105 (100%) |
| Owner Occupied HU | 2,093 (41.0%) |
| Renter Occupied HU | 1,597 (31.3%) |
| Vacant Housing Units | 1,415 (27.7%) |
| Median Home Value | $245,250 |
| Average Home Value | $364,080 |
Housing Distribution
Address Breakdown
Residential
3,628
Single Family
3,194
Multi-Family
434
Businesses
570
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Beth Hall • Adirondack Premier Properties
Mls Name: BHHS broker feed
Mls ID: #205465