148 Elliot Rd · East Greenbush, NY 12061

$199,900

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 3 Days on market

Built 1930 0.34 ac lot $246/sqft · 21% below area Est $254k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Schools +6.1/10.0
• 1% rule +4.9/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

QUAINT HOME WITH CHARM AND CHARACTER.DEEP LOT. HARDWOOD FLOORS THROUGHOUT. A LITTLE TLC-NEEDED INSIDE- NEW HW FLOORS, HW TANK, ROOF 3 YRS, FURNACE 2 YEARS. CALL L.A 448-5946. Good Condition

Key facts

• Generous lot
• Newer roof
• Ample parking

Tags

• HARDWOOD FLOORS
• NEWER ROOF
• 6 YEAR OLD FURNACE
• FULL WALK OUT BASEMENT
• GENEROUS LOT
• AMPLE PARKING

Property features AI

Exterior

• Parking: Off-street parking and driveway; Total of about 10 parking spaces
• Utilities: Public sewer
• Home design: Single family residence; Vinyl siding construction; Shingle/asphalt roof; Lot about 0.34 acre (approx. 85 x 220)
• Construction: Vinyl siding; Shingle/asphalt roof; Unfinished basement (walk-out) - exterior and interior entry
• Exterior features: Rear porch (enclosed back porch / mud room); Paved driveway; Exterior lighting; Shed(s)

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: First-floor bedroom; Second-floor bedroom
• Flooring: Hardwood flooring
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating; Oil heating
• Interior features: High speed internet; Unfinished walk-out basement with interior and exterior entry
• Laundry & utility: Washer and dryer located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $34 ($412/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (1.5% below list).
• Recommended offer: $197k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.0% in East Greenbush — 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 76/100 on livability (#233 in NY, #3,674 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• East Greenbush Central School District (suburban): math 68% / reading 71% proficiency, ranked #132 of 590 in NY (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Columbia High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,252 students, 27% FRL).
• Zoned-school proficiency averages 92% at this address vs 70% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the East Greenbush Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 44 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 405 units permitted in Rensselaer County in 2024 (224 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 $6k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $62k; list at $200k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,973 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 8.5

CMA / ARV

• ARV (median comp): $253,907
• List price: $199,900
• Delta: -21.27%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
181 Elliot Rd	0.15mi	2/1.0	882 (+9%)	11mo	$265,000	$300	69
85 Elliot Rd	0.29mi	3/1.0 (+1)	864 (+6%)	21mo	$250,000	$289	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: -15.1%
• Equity multiple: 0.46×
• Total profit: $-30,089
• Equity at exit: $29,806

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-22,913
• Equity at exit: $17,284

Cash invested: $55,972 (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 12061

• Home prices YoY: -22.2%
• Active inventory: 44
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$390 /mo · $4,682/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $34

Break-even live

Break-even rent $1,926

Max offer price $199,900

Occupancy floor 93%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Horizon View Dr East Greenbush, NY	1.0–2.0	1.0–2.0	915	$1,919	$2.10	14d	1	0.75mi
4 Horizon View Dr W Unit 3 East Greenbush, NY	2.0	1.0	1000	$18,250	$18.25	23d	1	0.88mi
15 Forrest Dr Rensselaer, NY	1.0	1.0	600	$1,300	$2.17	43d	1	1.21mi
1 Forrest Pointe Dr East Greenbush, NY	1.0–2.0	1.0–2.0	1193	$2,889	$2.42	14d	1	1.34mi

Listing history 4 events

1. 2026-05-09
   status Pending 696-char remark
2. 2026-05-06
   listed $199,900 Active 696-char remark
3. 2003-02-28
   soldstatus $62,500 189-char remark

   Show marketing remark (189 chars)

   QUAINT HOME WITH CHARM AND CHARACTER.DEEP LOT. HARDWOOD FLOORS THROUGHOUT. A LITTLE TLC-NEEDED INSIDE- NEW HW FLOORS, HW TANK, ROOF 3 YRS, FURNACE 2 YEARS. CALL L.A 448-5946. Good Condition

4. 2003-01-26
   listed $64,900 189-char remark

   Show marketing remark (189 chars)

   QUAINT HOME WITH CHARM AND CHARACTER.DEEP LOT. HARDWOOD FLOORS THROUGHOUT. A LITTLE TLC-NEEDED INSIDE- NEW HW FLOORS, HW TANK, ROOF 3 YRS, FURNACE 2 YEARS. CALL L.A 448-5946. Good 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: $4,682 · $390/mo
• Projected year-2 tax: $4,682 · $390/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,637
• − Mortgage interest: −$11,198
• − Property taxes: −$4,682
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$5,815
• Taxable loss: −$2,839
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $1,094/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: East Greenbush Central School District
• NCES district ID: 3609630
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 71% ▲ 2.00%
• Median HH income: $73,174
• Composite: 61.16/100
• National rank: #783
• State rank: #132 of 590 in NY

Livability — East Greenbush

• Score: 76/100
• State rank: #233
• US rank: #3674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Greenbush, NY
• Population (ZIP): 9,778

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 5% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 6% Lithuanian 5% Iranian 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.49%
• Current HPI: 265.2112
• 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

+208.0% since first listed

4 events — show timeline

• 2026-05-09 Pending — Global MLS
• 2026-05-06 Listed $199,900 Global MLS
• 2003-02-28 Sold (MLS) $62,500 Global MLS
• 2003-01-26 Listed $64,900 Global MLS

Property tax history

+5.1%/yr

Latest (2025): $4,682 · -17.3% YoY. Source: county tax records.