5647 Lake Rd · Galway, NY 12074

$339,900

4 bd · 1.5 ba · 1,550 sqft · SingleFamily public records · 6 Days on market

Built 1930 0.48 ac lot $219/sqft · at area comps Est $420k · 19% under $42/mo HOA · 2% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.9/10.0
• Cash flow +4.0/30.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

This is it! The one you have been waiting for. Year-round home in the sought after Galway Lake District, with access to the beautiful sunset beach. The heart of the first floor features an oversized living room, built-ins and gleaming hardwood floors. Kitchen/Dining room, tiled bathroom, one bedroom + large bonus room with endless possibilities leading to the deck. Upstairs has a spacious master bedroom with his and her closets, bathroom and 2 additional bedrooms and lots of storage. Outside boasts a big private yard with a 2-car garage, workshop in the rear and loft with half ton hoist. New well, whole house generator and central air. Enjoy lake living. Great location and low taxes. Come see this home before it's gone! Real estate agent is a trustee.

Key facts

• New furnace
• New vinyl floors
• New exterior doors

Tags

• UPDATED BATHROOMS
• NEW VINYL FLOORS
• NEW FURNACE
• NEW WATER HEATER
• NEW APPLIANCES
• NEW EXTERIOR DOORS

Property features AI

Finance

• HOA & community: Community association with annual fee (approximately $500/year); Association amenities include beach access, lake access, boat dock, clubhouse and recreation facilities

Exterior

• Parking: Detached garage; 2-car garage; Workshop in garage; Additional paved driveway parking (total parking for 4 vehicles)
• Utilities: Septic tank
• Home design: Single family residence; Updated / remodeled; Living area approximately 2,007; Wood siding
• Construction: Metal and asphalt roofing
• Exterior features: Rear porch; Side porch; Deck; Barn(s) and other barn structure; Garden and landscaping; Exterior lighting; Driveway paved; Fenced backyard with gate; Seasonal shared waterfront access

Interior

• Kitchen: Built-in electric oven; Cooktop; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on second level; Additional bedrooms on first and second levels (total 4 bedrooms indicated by room types)
• Flooring: Vinyl; Hardwood
• Bathrooms: Two full bathrooms — one on the first level and one on the second level
• Heating & cooling: Forced air heating; Oil heating; Wood/wood stove heating; Central air conditioning
• Interior features: Paddle fan; Full basement; Wood burning stove / wood burning fireplace in family room
• Laundry & utility: Washer and dryer included; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-956 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (49.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (48.5% below list).
• Recommended offer: $171k (49.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#580 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, cost of living B; Watch: crime F, amenities F, commute F.
• Galway Central School District (rural): math 50% / reading 62% proficiency, ranked #274 of 590 in NY (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Joseph Henry Elementary School (math 52% / reading 67%, grade B-, #745 of 2,108 statewide, top 39%, 403 students, 28% FRL); Galway Junior/Senior High School (math 47% / reading 57%, grade D+, #946 of 1,100 statewide, top 88%, 411 students, 32% FRL).
• Market conditions: 16 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $275k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,931 (49.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.52% ✗
• Cap rate: 2.92%
• Cash-on-cash: -12.06%
• DSCR: 0.46
• GRM: 16.2

CMA / ARV

• ARV (median comp): $419,517
• List price: $339,900
• Delta: -18.98%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.9%
• Equity multiple: 2.31×
• Total profit: $124,220
• Equity at exit: $306,209

10-year hold

• IRR: 15.3%
• Equity multiple: 5.35×
• Total profit: $413,754
• Equity at exit: $660,351

Cash invested: $95,172 (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 12074

• Home prices YoY: 8.1%
• Active inventory: 16
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$374 /mo · $4,483/yr
• Insurance: −$142
• HOA: −$42
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-956

Break-even live

Break-even rent $2,962

Max offer price $170,931

Occupancy floor —

Sensitivity live

Price	-10% $-764	-5% $-860	+0% $-956	+5% $-1,053	+10% $-1,149
Rent	-10% $-1,095	-5% $-1,026	+0% $-956	+5% $-887	+10% $-818
Rate	-1.0pp $-785	-0.5pp $-870	base $-956	+0.5pp $-1,045	+1.0pp $-1,134

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 5 events

1. 2026-05-13
   listed $339,900 Active 1476-char remark
2. 2023-03-08
   soldstatus $275,000
3. 2023-03-06
   soldstatus $275,000 Closed 770-char remark

   Show marketing remark (770 chars)

   This is it! The one you have been waiting for. Year-round home in the sought after Galway Lake District, with access to the beautiful sunset beach. The heart of the first floor features an oversized living room, built-ins and gleaming hardwood floors. Kitchen/Dining room, tiled bathroom, one bedroom + large bonus room with endless possibilities leading to the deck. Upstairs has a spacious master bedroom with his and her closets, bathroom and 2 additional bedrooms and lots of storage. Outside boasts a big private yard with a 2-car garage, workshop in the rear and loft with half ton hoist. New well, whole house generator and central air. Enjoy lake living. Great location and low taxes. Come see this home before it's gone! Real estate agent is a trustee.

4. 2023-01-26
   status Pending 770-char remark

   Show marketing remark (770 chars)

   This is it! The one you have been waiting for. Year-round home in the sought after Galway Lake District, with access to the beautiful sunset beach. The heart of the first floor features an oversized living room, built-ins and gleaming hardwood floors. Kitchen/Dining room, tiled bathroom, one bedroom + large bonus room with endless possibilities leading to the deck. Upstairs has a spacious master bedroom with his and her closets, bathroom and 2 additional bedrooms and lots of storage. Outside boasts a big private yard with a 2-car garage, workshop in the rear and loft with half ton hoist. New well, whole house generator and central air. Enjoy lake living. Great location and low taxes. Come see this home before it's gone! Real estate agent is a trustee.

5. 2023-01-19
   listed $269,900 Active 770-char remark

   Show marketing remark (770 chars)

   This is it! The one you have been waiting for. Year-round home in the sought after Galway Lake District, with access to the beautiful sunset beach. The heart of the first floor features an oversized living room, built-ins and gleaming hardwood floors. Kitchen/Dining room, tiled bathroom, one bedroom + large bonus room with endless possibilities leading to the deck. Upstairs has a spacious master bedroom with his and her closets, bathroom and 2 additional bedrooms and lots of storage. Outside boasts a big private yard with a 2-car garage, workshop in the rear and loft with half ton hoist. New well, whole house generator and central air. Enjoy lake living. Great location and low taxes. Come see this home before it's gone! Real estate agent is a trustee.

ⓘ 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: $4,483 · $374/mo
• Projected year-2 tax: $5,114 · $426/mo
• Expected delta: +$631/yr (+$53/mo · 14.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $21,010
• − Mortgage interest: −$19,040
• − Property taxes: −$4,483
• − Insurance: −$1,700
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − HOA: −$504
• − Depreciation: −$9,888
• Taxable loss: −$17,965
• Est. tax savings @ 24.0%: +$4,312
• After-tax cash flow: $-7,166/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: Galway Central School District
• NCES district ID: 3611730
• Math proficiency: 50% ▼ -9.00%
• Reading proficiency: 62% ▲ 8.00%
• Median HH income: $64,963
• Composite: 49.15/100
• National rank: #2044
• State rank: #274 of 590 in NY

Livability — Galway

• Score: 67/100
• State rank: #580
• US rank: #10479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,833

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Romanian 18% Lithuanian 5% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.95%
• Current HPI: 358.2316
• 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

+25.9% since first listed

6 events — show timeline

• 2026-05-19 Pending — Global MLS
• 2026-05-13 Listed $339,900 Global MLS
• 2023-03-08 Sold (Public Records) $275,000 Public Records
• 2023-03-06 Sold (MLS) $275,000 Global MLS
• 2023-01-26 Pending — Global MLS
• 2023-01-19 Listed $269,900 Global MLS

Property tax history

+7.5%/yr

Latest (2025): $4,483 · +3.5% YoY. Source: county tax records.