18 Mailler Ave

Cornwall, NY 12518

3 bed1 bath1,216 sqft6,098 sqft lot

Investment Calculator

Line itemAmount
Purchase price$290,000
Buy-side closing2% of purchase$5,800
Rent-ready as-isThe house rents in its current condition — the $50,000 on the Fix & Flip tab is the retail resale scope, not a landlord’s$0
All-in basis$295,800
Market rent$2,400 – $2,700 per month · benchmarked to current Cornwall asking rents for renovated three-beds$2,550/mo
Operating expenses50% rule — taxes, insurance, vacancy, maintenance, management(1,275)
Monthly NOI$15,300/yr · 5.2% cap rate on all-in · 9.7 GRM$1,275/mo

NOI is before debt service. Financed, subtract the mortgage payment to get cash flow. The 50% expense rule is a screening assumption, not an operating budget — a buyer should underwrite actual taxes, insurance and management for this specific property.

Why this market

Five closed sales in Cornwall bracket this house between $378,500 and $435,000, and two of them sit on Mailler Ave itself. 33 Mailler is the tightest read available — built in 1951 against this one's 1952, 1,165 square feet against 1,216 — and it sold at $399,900 in March. 119 Mailler listed at $399,000 in November and settled at exactly that in February without a single price cut. The two comps that share this house's one bathroom are both smaller than it and still landed at $415,000 and $378,500. A $400,000 resale sits at the median of that set rather than at its ceiling; 17 Perry Rd took $435,000 with 1,418 square feet and a second bath. County records put the 2025 tax bill at $6,817, so the $568 a month in the carrying line above is the tax figure alone — insurance and utilities sit on top of it. The house is 1,216 square feet on a 6,098 foot lot, built in 1952, with a detached garage, a fenced rear yard and central air already in place.

Comparable sales

Anchor compClosed sale33 Mailler Ave, Cornwall3 bd / 2 ba · 1,165 sqft · built 1951 · same streetThe tightest read in the set. Same street, built in 1951 against this house's 1952, 1,165 square feet against 1,216. The one gap is that it carries two baths to this one's single.$399,900Sold 03/13/2026Zillow

Closed sale119 Mailler Ave, Cornwall3 bd / 2 ba · 1,176 sqft · built 1993 · 10,019 sqft lot · same streetAlso on Mailler. Listed at $399,000 in November and settled at exactly that in February with no price cut — which says the high threes is where this street clears, not where it starts asking.$399,000Sold 02/01/2026Zillow

Closed sale1 Chestnut St, Cornwall3 bd / 1 ba · 952 sqftThree bed, one bath — the same bath count as this house — at 952 square feet, 264 feet smaller, and it still cleared $415,000. The strongest single argument that the single bathroom is not what caps the resale in this pocket.$415,000Sold 07/24/2026Zillow

Closed sale6 Peter Scott Dr, Cornwall3 bd / 1 ba · 1,076 sqft · built 1952Another three bed, one bath, built the same year as this one and 140 square feet smaller. It listed at $430,000, cut to $419,000 and settled at $378,500 — the floor of the range, and a straight lesson in what overpricing costs on the way out.$378,500Sold 11/12/2025Zillow

Closed sale17 Perry Rd, Cornwall3 bd / 2 ba · 1,418 sqftThe largest in the set and the top of the range. Two baths and 202 more square feet than this house, so it marks what a finished 18 Mailler reaches toward rather than where it lands.$435,000Sold 04/07/2026Zillow

Repairs

Estimated finish budget: $50,000 depending on contractor.

Kitchen and living room flooring — visibly warped and water-damaged along the sink, dishwasher and stove run, on the wall shared with the garage
Locate and fix the moisture source behind that floor before anything is closed back up
Full bathroom gut — mold and mildew through the tub surround
Kitchen remodel
Flooring throughout
Interior paint throughout
Odor remediation — dog odor through the house, strongest in the back room off the kitchen
Damp closets — several smell damp once the doors are opened
Verify the central air condenser and the water heater; the unit sits front right, behind a bush
Full clean-out — the house is occupied and furnished in every photo