357 Division St · Amsterdam, NY 12010

$230,000

6 bd · 2.0 ba · 3,024 sqft · MultiFamily public records · 6 Days on market

Built 1925 0.25 ac lot Est $257k · 11% under

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Why this score? — see what drove the D+ 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 +12.2/15.0
• Appreciation +10.0/10.0
• Cash flow +9.6/30.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 1% rule +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

MULTIPLE OFFERS - HIGHEST & BEST REQUESTED BY MONDAY 5/25 @ 5PM. For questions, please call LA. If historic homes are your thing, prepare for a true love affair. Offered for the first time outside of the original family, this remarkable residence has been cherished and meticulously maintained for generations -- and it shows in every detail. From the stunning original woodwork and leaded glass windows to the beautifully preserved hardwood floors hidden beneath the carpeting, the character and craftsmanship throughout are simply unmatched. This expansive home offers more than 1,500 square feet on each floor, with an incredibly versatile layout featuring 3 bedrooms, 1 full bath, a formal

Key facts

• Abundant porch space
• Leaded glass windows
• Rare double lot

Tags

• ORIGINAL WOODWORK
• LEADED GLASS WINDOWS
• HARDWOOD FLOORS
• ABUNDANT PORCH SPACE
• RARE DOUBLE LOT
• MANICURED GROUNDS

Property features AI

Finance

• Financial info: Owner pays trash collection, sewer, and water

Exterior

• Parking: Detached garage with garage door opener; Off-street paved parking; Total of 4 parking spaces (2 garage spaces)
• Security: 24-hour security
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Main road frontage of 100 feet
• Construction: Wood siding; Stone foundation; Asphalt roof; Built on a 0.25-acre lot (approx. 100 x 110)
• Exterior features: Rear enclosed porch with awning(s); Front porch; Level lot; Garage(s) on property

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Two units, each with 3 bedrooms (Unit 1 bedrooms on 1st floor; Unit 2 bedrooms on 2nd floor)
• Flooring: Carpet; Hardwood
• Bathrooms: Two full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Hot water heating
• Interior features: Crown molding; Double pane windows with wood frames
• Laundry & utility: Washer hookup; Laundry access in basement and in a bathroom

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (22.3% below list).
• Recommended offer: $179k (22.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#247 in NY, #3,884 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, employment F.
• Amsterdam City School District (town): math 35% / reading 41% proficiency, ranked #546 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 78% at this address vs 38% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Amsterdam City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 164 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,775 (22.3% below list)

Questions for the listing agent

1. 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?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.92%
• DSCR: 0.87
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $257,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Division St	0.54mi	6/2.0	2,674 (-12%)	12mo	$120,000	$45	46
9 Bayard St	0.73mi	5/3.0 (-1)	2,582 (-15%)	15mo	$220,000	$85	20

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: 21.5%
• Equity multiple: 2.74×
• Total profit: $111,794
• Equity at exit: $207,202

10-year hold

• IRR: 19.4%
• Equity multiple: 6.28×
• Total profit: $339,942
• Equity at exit: $446,839

Cash invested: $64,400 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,788 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$267 /mo · $3,205/yr
• Insurance: −$96
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $-212

Break-even live

Break-even rent $2,056

Max offer price $192,504

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-20
   listed $230,000 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: $3,205 · $267/mo
• Projected year-2 tax: $3,546 · $295/mo
• Expected delta: +$341/yr (+$28/mo · 10.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $21,453
• − Mortgage interest: −$12,884
• − Property taxes: −$3,205
• − Insurance: −$1,816
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$6,691
• Taxable loss: −$6,575
• Est. tax savings @ 24.0%: +$1,578
• After-tax cash flow: $-969/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: Amsterdam City School District
• NCES district ID: 3602970
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 41% ▲ 10.00%
• Median HH income: $41,735
• Composite: 32.03/100
• National rank: #5824
• State rank: #546 of 590 in NY

Livability — Amsterdam

• Score: 75/100
• State rank: #247
• US rank: #3884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amsterdam, NY
• City population: 27,339
• Population (ZIP): 27,339

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 23% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 18%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 11% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.12%
• Current HPI: 312.4966
• 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

• 2026-05-20 Listed $230,000 Global MLS

Property tax history

+7.1%/yr

Latest (2025): $3,205 · -5.4% YoY. Source: county tax records.