35 Cole Ave · Colonie, NY 12205

$159,900

4 bd · 1.0 ba · 1,209 sqft · SingleFamily public records · 9 Days on market

Built 1949 6,534 sqft lot

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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
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Multiple offers received, highest and best due 01/07/26 8pm * * Opportunity awaits in this 4 bedroom bungalow. This property requires a complete interior renovation and is being sold as-is, cash offers only. Ideal for investors, contractors or buyers looking to customize and add value. The home offers strong potential for those ready to take on an interior project. Exterior and location provide a solid foundation for future upside.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1949

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 12.2% vs local median 4.8% in Colonie — 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 85/100 on livability (#37 in NY, #572 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime C-, amenities C-, cost of living D.
• South Colonie Central School District (suburban): math 63% / reading 57% proficiency, ranked #215 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonie Central High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 1,538 students, 39% FRL) — zoned schools average 39% FRL vs 19% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 84% at this address vs 60% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the South Colonie Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 105 active listings in the ZIP; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 33% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1949 — 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. 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.
4. 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.
5. 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: 1.57% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $331,266
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Dunning Ave	0.31mi	3/1.5 (-1)	1,155 (-4%)	8mo	$330,000	$286	64
27 Emery Ave	0.10mi	4/1.0	1,375 (+14%)	11mo	$286,000	$208	64
59 Reber St	0.39mi	3/1.0 (-1)	1,152 (-5%)	7mo	$316,000	$274	63
4146 Albany St	0.45mi	3/1.5 (-1)	1,242 (+3%)	8mo	$280,000	$225	60
21 Campbell Dr	0.47mi	3/1.0 (-1)	1,152 (-5%)	8mo	$339,000	$294	59
39 Reber St	0.52mi	3/2.0 (-1)	1,152 (-5%)	2mo	$335,000	$291	58
5 Wilbur St	0.66mi	3/1.0 (-1)	1,250 (+3%)	9mo	$235,500	$188	51
171 Consaul Rd	0.61mi	3/1.0 (-1)	1,104 (-9%)	10mo	$340,000	$308	44
95 Lishakill Rd	0.58mi	4/1.5	1,310 (+8%)	16mo	$306,000	$234	43
18 Melissa Ct	0.73mi	3/1.0 (-1)	1,044 (-14%)	0mo	$350,000	$335	38
59 Virginia Ave	0.71mi	3/1.0 (-1)	1,280 (+6%)	17mo	$295,000	$230	38
65 Brent St	0.63mi	3/2.0 (-1)	1,344 (+11%)	12mo	$350,000	$260	33

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: 13.6%
• Equity multiple: 1.54×
• Total profit: $24,400
• Equity at exit: $23,842

10-year hold

• IRR: 22.5%
• Equity multiple: 2.93×
• Total profit: $86,278
• Equity at exit: $13,825

Cash invested: $44,772 (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 12205

• Active inventory: 105
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,502 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$283 /mo · $3,399/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $789

Break-even live

Break-even rent $1,504

Max offer price $159,900

Occupancy floor 63%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-01-13
   status Pending
2. 2026-01-04
   listed $159,900 Active

ⓘ 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: $3,399 · $283/mo
• Projected year-2 tax: $3,399 · $283/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $30,030
• − Mortgage interest: −$8,957
• − Property taxes: −$3,399
• − Insurance: −$800
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$4,652
• Taxable income: $7,418
• Est. tax owed @ 24.0%: −$1,780
• After-tax cash flow: $7,682/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: South Colonie Central School District
• NCES district ID: 3627210
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $69,499
• Composite: 52.97/100
• National rank: #1527
• State rank: #215 of 590 in NY

Livability — Colonie

• Score: 85/100
• State rank: #37
• US rank: #572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Albany County · 196,626 people
• City population: 25,912
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 25,838
• Household income: $91,020
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 530.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 8% Black 8% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 2%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 84% English-only · Other Indo-European 4% Russian/Polish/Slavic 3% Tagalog/Filipino 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.10%
• Current HPI: 302.9752
• Rent YoY: —
• Metro: Albany-Schenectady-Troy, NY
• 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

2 events — show timeline

• 2026-01-13 Pending — Global MLS
• 2026-01-04 Listed $159,900 Global MLS

Property tax history

+6.4%/yr

Latest (2025): $3,399 · -4.0% YoY. Source: county tax records.