55 Van Dyke Rd

Albany, NY 12054

$250,000C+

4 bd · 1.0 ba · 2,306 sqft · Built 1907 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,945/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$556
• HOA: −$0
• Vac / Maint / Mgmt: −$618
• Net cashflow: $460/mo
• Annual: $5,516/yr
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• 1% rule: 1.18%
• Cash to close: $70,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Bethlehem Central School District (suburban): math 70% / reading 74% proficiency, ranked #90 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Bethlehem Central Middle School (math 50% / reading 69%, grade B, #161 of 729 statewide, top 24%, 923 students, 14% FRL); Bethlehem Central Senior High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 1,364 students, 13% FRL).
• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 70 active listings in the ZIP; high-income renter base; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 27y 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 $85k; list at $250k implies a 194% gain — meaningful room to come down on a strong offer.
• Cap rate 8.5% vs local median 5.7% in Albany — 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.

Questions for listing agent

• Built in 1907 — 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.
• 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?
• 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.