1031 Van Patten Rd

Duanesburg, NY 12056

$299,900D

4 bd · 1.0 ba · 1,794 sqft · Built 1960 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,446/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$482
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-912/mo
• Annual: $-10,942/yr
• Cap rate: 2.64%
• Cash-on-cash: -13.03%
• DSCR: 0.42
• 1% rule: 0.48%
• Cash to close: $83,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-912 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (53.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (51.8% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $139k (53.7% below list) — sets the bar for cash-flow.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#783 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Duanesburg Central School District (rural): math 54% / reading 71% proficiency, ranked #176 of 590 in NY (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Duanesburg Elementary School (math 47% / reading 67%, grade C+, #842 of 2,108 statewide, top 43%, 332 students, 26% FRL); Duanesburg High School (math 67% / reading 77%, grade B+, #677 of 1,100 statewide, top 63%, 312 students, 25% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: 16 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 4y 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.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.