490 Forest Hill AveSaranac LakeNY12983
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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
Investment Highlights
Rental property for sale in Saranac Lake at 490 Forest Hill Ave, Saranac Lake, NY, 12983 generates $1,249/mo in rent and, after a $630/mo payment, leaves $389/mo in cash flow. Total monthly income is $1,249/mo, and annual cash flow is $4,673/yr on $42,681 invested. Return on cash invested sits at 30.86% in year one, and rental yield is 11.64% on a $128,750 entry. Equity gained on principal adds $831/yr, while 5% annual appreciation builds toward $35,571 over five years. Five-year ROI reaches 162.27% and total cumulative return in cash sums $69,258. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,249/mo property income rather than buyer’s personal income.
Single Family
Built in 1949
4,356 sqft 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
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Listed by: Jack Newberry • Coldwell Banker Whitbeck Assoc-Saranac Lake
Mls Name: ACVMLS
Mls Provider:
Mls ID: #201847
Disclaimer: Listing data courtesy of the Internet Data Exchange (IDX) Program of the Adirondack Champlain Valley Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information deemed reliable but not guaranteed.