3964 Putnam Rd · Mariaville Lake, NY 12306

$164,000

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 136 Days on market

Built 1900 0.62 ac lot $116/sqft · 59% below area

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Why this score? — see what drove the C+ 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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Set on a generously sized lot in Schalmont School District, this property offers a wonderful opportunity to create something special. With strong value in the land and ample space for future expansion , this property is ideal for buyers looking to customize and add long-term value.

Key facts

• Generously sized lot
• 0.62 acre lot
• Garage

Tags

• GENEROUSLY SIZED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $144k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 48/100 on livability (#1,178 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: schools D, amenities F, commute F.
• Schalmont Central School District (suburban): math 51% / reading 64% proficiency, ranked #243 of 590 in NY (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 181 active listings in the ZIP; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $36k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $164k implies a 264% 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 $144,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.25% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.07%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (median comp): $401,626
• List price: $164,000
• Delta: -59.17%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3224 Putnam Rd	0.66mi	3/1.0	1,450 (+3%)	14mo	$206,000	$142	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,878
• Equity at exit: $24,453

10-year hold

• IRR: 11.3%
• Equity multiple: 1.88×
• Total profit: $40,550
• Equity at exit: $14,180

Cash invested: $45,920 (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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,043 medium
• Mortgage (P&I): −$860
• Tax from tax record: −$224 /mo · $2,684/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $462

Break-even live

Break-even rent $1,458

Max offer price $164,000

Occupancy floor 72%

Sensitivity live

Price	-10% $555	-5% $508	+0% $462	+5% $415	+10% $369
Rent	-10% $300	-5% $381	+0% $462	+5% $542	+10% $623
Rate	-1.0pp $544	-0.5pp $503	base $462	+0.5pp $419	+1.0pp $376

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $164,000 Active 136 DOM
2. 2026-06-17
   days on market $164,000 Active 135 DOM
3. 2026-06-16
   days on market $164,000 Active 134 DOM
4. 2026-06-15
   days on market $164,000 Active 133 DOM
5. 2026-06-14
   days on market $164,000 Active 131 DOM
6. 2026-06-13
   days on market $164,000 Active 130 DOM
7. 2026-06-10
   days on market $164,000 Active 128 DOM
8. 2026-06-09
   days on market $164,000 Active 127 DOM
9. 2026-06-08
   days on market $164,000 Active 126 DOM
10. 2026-06-07
    days on market $164,000 Active 125 DOM
11. 2026-06-05
    days on market $164,000 Active 122 DOM
12. 2026-06-03
    days on market $164,000 Active 121 DOM
13. 2026-06-02
    days on market $164,000 Active 120 DOM
14. 2026-06-01
    days on market $164,000 Active 119 DOM
15. 2026-05-31
    days on market $164,000 Active 118 DOM
16. 2026-05-31
    days on market $164,000 Active 117 DOM
17. 2026-04-21
    price $164,000 282-char remark

    Show marketing remark (282 chars)

    Set on a generously sized lot in Schalmont School District, this property offers a wonderful opportunity to create something special. With strong value in the land and ample space for future expansion , this property is ideal for buyers looking to customize and add long-term value.

18. 2026-02-23
    price $170,000 282-char remark

    Show marketing remark (282 chars)

    Set on a generously sized lot in Schalmont School District, this property offers a wonderful opportunity to create something special. With strong value in the land and ample space for future expansion , this property is ideal for buyers looking to customize and add long-term value.

19. 2026-02-02
    listed $200,000 Active 282-char remark

    Show marketing remark (282 chars)

    Set on a generously sized lot in Schalmont School District, this property offers a wonderful opportunity to create something special. With strong value in the land and ample space for future expansion , this property is ideal for buyers looking to customize and add long-term value.

20. 2019-10-10
    soldstatus $45,000 Closed (Final Sale) 330-char remark

    Show marketing remark (330 chars)

    Putnam Rd Rotterdam, Shalmont schools, With large lot!! ARV could easily go over 200k. This one won't last. this is a 3 bedroom 1 bath, being used as a 2 bed. Has a full attic with potential for more space. Brand new Oil Furnace, Fuel Tank, HWH. She needs work, but HUGE potential. For Sale Cash Only, $69,000.00 -- Fair Condition

21. 2019-09-12
    status Pend (Under Cntr) 330-char remark

    Show marketing remark (330 chars)

    Putnam Rd Rotterdam, Shalmont schools, With large lot!! ARV could easily go over 200k. This one won't last. this is a 3 bedroom 1 bath, being used as a 2 bed. Has a full attic with potential for more space. Brand new Oil Furnace, Fuel Tank, HWH. She needs work, but HUGE potential. For Sale Cash Only, $69,000.00 -- Fair Condition

22. 2019-09-03
    price $44,500 330-char remark

    Show marketing remark (330 chars)

    Putnam Rd Rotterdam, Shalmont schools, With large lot!! ARV could easily go over 200k. This one won't last. this is a 3 bedroom 1 bath, being used as a 2 bed. Has a full attic with potential for more space. Brand new Oil Furnace, Fuel Tank, HWH. She needs work, but HUGE potential. For Sale Cash Only, $69,000.00 -- Fair Condition

23. 2019-08-09
    price $57,000 330-char remark

    Show marketing remark (330 chars)

    Putnam Rd Rotterdam, Shalmont schools, With large lot!! ARV could easily go over 200k. This one won't last. this is a 3 bedroom 1 bath, being used as a 2 bed. Has a full attic with potential for more space. Brand new Oil Furnace, Fuel Tank, HWH. She needs work, but HUGE potential. For Sale Cash Only, $69,000.00 -- Fair Condition

24. 2019-07-25
    listed $69,000 New 330-char remark

    Show marketing remark (330 chars)

    Putnam Rd Rotterdam, Shalmont schools, With large lot!! ARV could easily go over 200k. This one won't last. this is a 3 bedroom 1 bath, being used as a 2 bed. Has a full attic with potential for more space. Brand new Oil Furnace, Fuel Tank, HWH. She needs work, but HUGE potential. For Sale Cash Only, $69,000.00 -- Fair Condition

25. 2010-11-30
    soldstatus $70,000

ⓘ 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: $2,684 · $224/mo
• Projected year-2 tax: $2,728 · $227/mo
• Expected delta: +$44/yr (+$4/mo · 1.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,514
• − Mortgage interest: −$9,187
• − Property taxes: −$2,684
• − Insurance: −$820
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$4,771
• Taxable income: $3,130
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $4,790/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: Schalmont Central School District
• NCES district ID: 3625980
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 64% ▲ 7.00%
• Median HH income: $72,566
• Composite: 51.11/100
• National rank: #1765
• State rank: #243 of 590 in NY

Livability — Mariaville Lake

• Score: 48/100
• State rank: #1178
• US rank: #26007

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Schenectady County · 141,369 people
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.35%
• Current HPI: 292.1229
• Rent YoY: —
• Metro: Albany-Schenectady-Troy, NY
• 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

+134.3% since first listed

9 events — show timeline

• 2026-04-21 Price Changed $164,000 Global MLS
• 2026-02-23 Price Changed $170,000 Global MLS
• 2026-02-02 Listed $200,000 Global MLS
• 2019-10-10 Sold (MLS) $45,000 Global MLS
• 2019-09-12 Pending — Global MLS
• 2019-09-03 Price Changed $44,500 Global MLS
• 2019-08-09 Price Changed $57,000 Global MLS
• 2019-07-25 Listed $69,000 Global MLS
• 2010-11-30 Sold (Public Records) $70,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $2,684 · -8.8% YoY. Source: county tax records.