493 Altamont Rd · Voorheesville, NY 12009

$250,000

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 5 Days on market

Built 1961 1.80 ac lot Est $314k · 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 +14.4/30.0
• Appreciation +10.0/10.0
• Schools +6.5/10.0
• DSCR +4.4/10.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Highest and best due 7pm Monday 6/15/26. Opportunity awaits with this solidly built 1961 brick ranch set on a spacious 1.8-acre lot offering privacy, mature trees, and endless potential. This home features 3 bedrooms and 1.5 baths across 1,248 square feet of main-level living, plus a full unfinished basement. Inside, you'll find a functional layout with great natural light and classic mid-century character, just waiting for your personal touch. The home is equipped with forced air heat and central air for year-round comfort. Outside, enjoy the peaceful setting with plenty of room for gardening, recreation, or future expansion. Conveniently located while still offering a private, tucked-a

Key facts

• Unfinished basement
• Natural light
• Forced air heat

Tags

• BRICK RANCH
• SPACIOUS LOT
• MATURE TREES
• UNFINISHED BASEMENT
• NATURAL LIGHT
• FORCED AIR HEAT

Property features AI

Exterior

• Parking: Garage (1 space); Driveway parking; Under-residence parking; Stone parking surface; Total 4 parking spaces
• Utilities: Septic tank
• Home design: Single family residence
• Construction: Brick construction
• Exterior features: Shingle roof; Shed(s); Garage(s); Lot about 1.8 acres

Interior

• Kitchen: Built-in electric oven; Refrigerator
• Bedrooms: Two bedrooms on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Forced air oil heating; Central air conditioning
• Interior features: 6 total rooms; Full unfinished walk-out basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $52 ($630/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 $221k (11.5% below list).
• Recommended offer: $221k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.6% in Voorheesville — 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 72/100 on livability (#369 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D, amenities F, commute F.
• Voorheesville Central School District (rural): math 75% / reading 71% proficiency, ranked #89 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.
• Market conditions: 47 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $221,185 (11.5% below list)

Questions for the listing agent

1. Built in 1961 — 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: 0.88% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $314,496
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
478 Altamont-voorheesville Rd	0.09mi	3/1.0	1,292 (+4%)	19mo	$325,000	$252	72

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: 24.9%
• Equity multiple: 2.99×
• Total profit: $139,512
• Equity at exit: $225,220

10-year hold

• IRR: 22.0%
• Equity multiple: 6.83×
• Total profit: $408,239
• Equity at exit: $485,695

Cash invested: $70,000 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 47
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,212 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$280 /mo · $3,356/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $52

Break-even live

Break-even rent $2,145

Max offer price $250,000

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-16
   statusdays on market $250,000 Pending 5 DOM
2. 2026-06-15
   days on market $250,000 Active 4 DOM
3. 2026-06-14
   remarks 699-char remark
4. 2026-06-14
   listed $250,000 Active 2 DOM

ⓘ 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: $3,356 · $280/mo
• Projected year-2 tax: $3,791 · $316/mo
• Expected delta: +$434/yr (+$36/mo · 12.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $26,542
• − Mortgage interest: −$14,004
• − Property taxes: −$3,356
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$7,273
• Taxable loss: −$3,587
• Est. tax savings @ 24.0%: +$861
• After-tax cash flow: $1,491/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: Voorheesville Central School District
• NCES district ID: 3629670
• Math proficiency: 75% ▼ -5.00%
• Reading proficiency: 71% ▲ 1.00%
• Median HH income: $86,855
• Composite: 65.4/100
• National rank: #482
• State rank: #89 of 590 in NY

Livability — Voorheesville

• Score: 72/100
• State rank: #369
• US rank: #6390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,068

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 (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 1%

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: ▲ 18.85%
• Current HPI: 290.1144
• 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

1 event — show timeline

• 2026-06-11 Listed $250,000 Global MLS

Property tax history

-0.6%/yr

Latest (2025): $3,356 · +5.9% YoY. Source: county tax records.