84 High St

Hoosick Falls, NY 12090

$119,900B-

4 bd · 1.5 ba · 2,076 sqft · Built 1869 · SingleFamily · Pending · 293 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,587/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $160/mo
• Annual: $1,917/yr
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• 1% rule: 1.32%
• Cash to close: $33,572

Investor read

• This is a 4-bed/1.5-bath single-family listed at $120k.
• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 293 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($829 loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 72/100 on livability (#371 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Hoosick Falls Central School District (rural): math 52% / reading 46% proficiency, ranked #469 of 755 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 4.2% of price; built in 1869 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 25y 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 $74k; list at $120k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 7.9% vs local median 4.8% in Hoosick Falls — 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

• It's been on market 293 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.