184 Cedarview Ln

Latham, NY 12189

$194,000D-

2 bd · 1.0 ba · 896 sqft · Built 1986 · Townhouse · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,762/mo
• Mortgage (P&I): −$1,017
• Tax + insurance: −$245
• HOA: −$325
• Vac / Maint / Mgmt: −$370
• Net cashflow: $-195/mo
• Annual: $-2,345/yr
• Cap rate: 5.08%
• Cash-on-cash: -4.32%
• DSCR: 0.81
• 1% rule: 0.91%
• Cash to close: $54,320

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $194k.
• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (9.2% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $159k (17.8% below list) — sets the bar for cash-flow.
• 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.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• North Colonie CSD (suburban): math 70% / reading 76% proficiency, ranked #102 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Shaker Middle School (math 54% / reading 72%, grade B+, #129 of 729 statewide, top 18%, 1,423 students, 26% FRL); Shaker High School (math 98% / reading 93%, grade A+, #76 of 1,100 statewide, top 7%, 2,018 students, 25% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 73 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Cap rate 5.1% vs local median 2.4% in Latham — 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.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.