21 Garden St · Amsterdam, NY 12010

$89,900

4 bd · 2.0 ba · 2,088 sqft · MultiFamily public records · 149 Days on market

Built 1931 3,049 sqft lot $43/sqft · 58% below area Est $165k · 45% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.8/5.0
• 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 MLS

Solid House. Bring your vision to transform this into money maker. Sold AS-IS.

Key facts

• 3,049 sq ft lot
• Built 1931
• Listed 148 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.7% vs local median 6.3% in Amsterdam — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: schools D-, 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.
• Market conditions: 164 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $90k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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 1931 — 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. 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. 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.
8. 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.
9. 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: 3.05% ✓
• Cap rate: 26.70%
• Cash-on-cash: 72.88%
• DSCR: 4.24
• GRM: 2.7

CMA / ARV

• ARV (median comp): $164,763
• List price: $89,900
• Delta: -45.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
79 Bunn St	0.23mi	4/2.0	2,146 (+3%)	5mo	$85,000	$40	80
70 Wall St	0.06mi	4/2.0	2,196 (+5%)	11mo	$70,000	$32	79
7 Jackson St	0.33mi	4/2.0	2,148 (+3%)	3mo	$147,500	$69	77
38 Glen Ave	0.21mi	3/2.0 (-1)	1,920 (-8%)	1mo	$145,000	$76	71
85 Fairview Pl	0.13mi	5/3.0 (+1)	1,920 (-8%)	4mo	$135,500	$71	68
12 Yeoman St	0.57mi	4/2.0	2,200 (+5%)	0mo	$154,000	$70	64
100 Division St	0.18mi	4/4.0	1,932 (-8%)	11mo	$99,900	$52	62
17-19 Brookside Ave	0.38mi	5/2.0 (+1)	2,400 (+15%)	2mo	$135,000	$56	51
53 Arnold Ave	0.36mi	3/2.0 (-1)	2,368 (+13%)	8mo	$150,000	$63	49
52 Broad St	0.65mi	4/2.0	1,840 (-12%)	6mo	$120,000	$65	45
244 Guy Park Ave	0.59mi	3/2.0 (-1)	1,860 (-11%)	6mo	$95,000	$51	44
51 Arch St	0.68mi	4/2.0	1,774 (-15%)	6mo	$115,000	$65	38

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: 83.6%
• Equity multiple: 6.82×
• Total profit: $146,378
• Equity at exit: $80,989

10-year hold

• IRR: 78.0%
• Equity multiple: 15.09×
• Total profit: $354,596
• Equity at exit: $174,656

Cash invested: $25,172 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,743 high
• Mortgage (P&I): −$471
• Tax from tax record: −$129 /mo · $1,552/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $1,529

Break-even live

Break-even rent $808

Max offer price $89,900

Occupancy floor 39%

Sensitivity live

Price	-10% $1,580	-5% $1,554	+0% $1,529	+5% $1,503	+10% $1,478
Rent	-10% $1,312	-5% $1,420	+0% $1,529	+5% $1,637	+10% $1,745
Rate	-1.0pp $1,574	-0.5pp $1,552	base $1,529	+0.5pp $1,505	+1.0pp $1,482

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,742
Total (2 units)			$2,743

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Stewart St Unit 2 Amsterdam, NY	4.0	1.0	2800	$1,650	$0.59	44d	1	0.59mi
214 Market St Amsterdam, NY	3.0	1.5	1500	$1,300	$0.87	24d	1	0.60mi
214 Market St Amsterdam, NY	3.0	1.5	1500	$1,450	$0.97	44d	1	0.60mi

Listing history 20 events

1. 2026-06-18
   days on market $89,900 Active 149 DOM
2. 2026-06-17
   days on market $89,900 Active 148 DOM
3. 2026-06-16
   days on market $89,900 Active 147 DOM
4. 2026-06-15
   days on market $89,900 Active 146 DOM
5. 2026-06-14
   days on market $89,900 Active 144 DOM
6. 2026-06-13
   days on market $89,900 Active 143 DOM
7. 2026-06-10
   days on market $89,900 Active 141 DOM
8. 2026-06-09
   days on market $89,900 Active 140 DOM
9. 2026-06-08
   days on market $89,900 Active 139 DOM
10. 2026-06-07
    days on market $89,900 Active 138 DOM
11. 2026-06-03
    days on market $89,900 Active 134 DOM
12. 2026-06-02
    days on market $89,900 Active 133 DOM
13. 2026-06-01
    days on market $89,900 Active 132 DOM
14. 2026-05-31
    days on market $89,900 Active 131 DOM
15. 2026-05-31
    days on market $89,900 Active 130 DOM
16. 2026-04-14
    price $89,900 78-char remark

    Show marketing remark (78 chars)

    Solid House. Bring your vision to transform this into money maker. Sold AS-IS.

17. 2026-01-21
    listed $99,900 Active 78-char remark

    Show marketing remark (78 chars)

    Solid House. Bring your vision to transform this into money maker. Sold AS-IS.

18. 2006-10-24
    soldstatus $35,099
19. 2006-10-12
    soldstatus $10,650 139-char remark

    Show marketing remark (139 chars)

    HOUSE HAS NEWER SIDING, NEW REPLACEMENT WINDOWS. CONVENIENT LOCATION. THIS IS FORECLOSURE SOLD IN AS IS CONDITON. CASH ONLY! Fair Condition

20. 2006-09-15
    listed $13,650 139-char remark

    Show marketing remark (139 chars)

    HOUSE HAS NEWER SIDING, NEW REPLACEMENT WINDOWS. CONVENIENT LOCATION. THIS IS FORECLOSURE SOLD IN AS IS CONDITON. CASH ONLY! Fair Condition

ⓘ 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: $1,552 · $129/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 18 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: $32,916
• − Mortgage interest: −$5,036
• − Property taxes: −$1,552
• − Insurance: −$450
• − Repairs & maintenance: −$2,633
• − Management: −$2,633
• − Depreciation: −$2,615
• Taxable income: $17,997
• Est. tax owed @ 24.0%: −$4,319
• After-tax cash flow: $14,025/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

+558.6% since first listed

5 events — show timeline

• 2026-04-14 Price Changed $89,900 Global MLS
• 2026-01-21 Listed $99,900 Global MLS
• 2006-10-24 Sold (Public Records) $35,099 Public Records
• 2006-10-12 Sold (MLS) $10,650 Global MLS
• 2006-09-15 Listed $13,650 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $1,552 · -5.4% YoY. Source: county tax records.