38 Glen Ave · Amsterdam, NY 12010

$145,000

4 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 37 Days on market

Built 1900 4,791 sqft lot Est $132k · 9% over

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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
• Livability +3.8/5.0
• ARV discount +3.2/15.0
• Schools +3.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

This affordable home is located in a great neighborhood in Amsterdam, NY. It has 3 bedrooms, 2 bathrooms, and 1,920 square feet of space. The property has vinyl floors throughout, an updated kitchen with stainless steel appliances, new bathrooms, a private backyard with a porch off the side of the home, and off-street parking. This home is a great opportunity for first-time homebuyers or anyone looking for a move-in ready home in a great neighborhood. Eligible purchasers must meet 80% area median income in Montgomery County.

Key facts

• Off street parking
• Vinyl floors
• Private backyard

Tags

• VINYL FLOORS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW BATHROOMS
• PRIVATE BACKYARD
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#247 in NY, #3,884 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, employment F.
• Amsterdam City School District (town): math 35% / reading 41% proficiency, ranked #546 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 78% at this address vs 38% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Amsterdam City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 164 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -11% 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $69k; list at $145k implies a 110% 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 2.02% ✓
• Cap rate: 17.93%
• Cash-on-cash: 41.57%
• DSCR: 2.85
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $132,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Glen Ave	0.00mi	3/2.0 (-1)	1,920 (0%)	1mo	$145,000	$76	94
85 Fairview Pl	0.07mi	5/3.0 (+1)	1,920 (0%)	4mo	$135,500	$71	85
79 Bunn St	0.07mi	4/2.0	2,146 (+12%)	5mo	$85,000	$40	72
77 Mechanic St	0.16mi	4/2.0	1,820 (-5%)	15mo	$60,000	$33	71
42 Union St	0.16mi	4/2.0	2,038 (+6%)	15mo	$202,000	$99	69
100 Division St	0.30mi	4/4.0	1,932 (+1%)	11mo	$99,900	$52	68
7 Jackson St	0.26mi	4/2.0	2,148 (+12%)	3mo	$147,500	$69	65
244 Guy Park Ave	0.52mi	3/2.0 (-1)	1,860 (-3%)	6mo	$95,000	$51	60
70 Wall St	0.25mi	4/2.0	2,196 (+14%)	11mo	$70,000	$32	55
12 Yeoman St	0.53mi	4/2.0	2,200 (+15%)	0mo	$154,000	$70	51
25-27 Caroline St	0.66mi	4/2.0	1,644 (-14%)	10mo	$99,999	$61	37
30 High St	0.62mi	5/2.0 (+1)	2,184 (+14%)	17mo	$200,000	$92	29

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

Projected returns pro-forma

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

5-year hold

• IRR: 56.5%
• Equity multiple: 5.15×
• Total profit: $168,534
• Equity at exit: $130,627

10-year hold

• IRR: 50.0%
• Equity multiple: 11.49×
• Total profit: $425,829
• Equity at exit: $281,703

Cash invested: $40,600 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,925 high
• Mortgage (P&I): −$760
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $1,406

Break-even live

Break-even rent $1,145

Max offer price $145,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,926
Total (2 units)			$2,925

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Elizabeth St Amsterdam, NY	3.0	1.0	1300	$1,450	$1.12	21d	1	0.41mi
214 Market St Amsterdam, NY	3.0	1.5	1500	$1,450	$0.97	44d	1	0.45mi
214 Market St Amsterdam, NY	3.0	1.5	1500	$1,300	$0.87	23d	1	0.45mi

Listing history 16 events

1. 2026-03-16
   status Pending
2. 2026-02-07
   listed $145,000 Active
3. 2025-07-21
   status Active
4. 2025-07-15
   status Pending
5. 2025-07-15
   historical
6. 2025-06-25
   listed $145,000 Active
7. 2009-01-31
   historical
8. 2008-08-26
   listed $52,800
9. 2006-07-14
   soldstatus $69,000
10. 2006-07-11
    soldstatus $69,000
11. 2006-02-23
    historical
12. 2006-02-06
    listed $69,900
13. 2003-03-18
    soldstatus $32,000
14. 2002-11-29
    soldstatus $52,000
15. 2001-05-26
    listed $34,500
16. 1996-10-25
    soldstatus $27,500

ⓘ 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: $1,001 · $83/mo
• Projected year-2 tax: $1,726 · $144/mo
• Expected delta: +$725/yr (+$60/mo · 72.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $35,100
• − Mortgage interest: −$8,122
• − Property taxes: −$1,001
• − Insurance: −$725
• − Repairs & maintenance: −$2,808
• − Management: −$2,808
• − Depreciation: −$4,218
• Taxable income: $15,417
• Est. tax owed @ 24.0%: −$3,700
• After-tax cash flow: $13,178/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: Amsterdam City School District
• NCES district ID: 3602970
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 41% ▲ 10.00%
• Median HH income: $41,735
• Composite: 32.03/100
• National rank: #5824
• State rank: #546 of 590 in NY

Livability — Amsterdam

• Score: 75/100
• State rank: #247
• US rank: #3884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amsterdam, NY
• City population: 27,339
• Population (ZIP): 27,339

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 23% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 18%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 11% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.12%
• Current HPI: 312.4966
• 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

+427.3% since first listed

16 events — show timeline

• 2026-03-16 Pending — Global MLS
• 2026-02-07 Listed $145,000 Global MLS
• 2025-07-21 Relisted — Global MLS
• 2025-07-15 Pending — Global MLS
• 2025-07-15 Listing Removed — Global MLS
• 2025-06-25 Listed $145,000 Global MLS
• 2009-01-31 Listing Removed — Global MLS
• 2008-08-26 Listed $52,800 Global MLS
• 2006-07-14 Sold (Public Records) $69,000 Public Records
• 2006-07-11 Sold (MLS) $69,000 Global MLS
• 2006-02-23 Listing Removed — Global MLS
• 2006-02-06 Listed $69,900 Global MLS
• 2003-03-18 Sold (Public Records) $32,000 Public Records
• 2002-11-29 Sold (MLS) $52,000 Global MLS
• 2001-05-26 Listed $34,500 Global MLS
• 1996-10-25 Sold (Public Records) $27,500 Public Records

Property tax history

-4.2%/yr

Latest (2025): $1,001 · -41.3% YoY. Source: county tax records.