70 Gates Ave · Victory, NY 12871

$210,000

6 bd · 3.0 ba · 2,736 sqft · MultiFamily public records · 184 Days on market

Built 1870 10,454 sqft lot $77/sqft · 66% below area

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Why this score? — see what drove the A- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.1/5.0
• 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: 3 units. confirmed

Listing remarks MLS

MONEY maker in Saratoga County 3 Family property. 15 minutes to Saratoga, and minutes to up and coming Schuylerville shopping. Large rental property with a 4 bedroom, 3 bedroom and 1 bedroom. Large garage behind building with plenty of off street parking on Fish Creek. NO flood insurance required. Some upgrades have been done to apartments and new chimney. Low taxes. Owner is the licensed Realtor. (Listing agent)

Key facts

• New chimney
• Large garage
• Off street parking

Tags

• LARGE RENTAL PROPERTY
• LARGE GARAGE
• OFF STREET PARKING
• SOME UPGRADES
• NEW CHIMNEY
• LOW TAXES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $648/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#865 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: schools F, crime F, amenities F.
• Schuylerville Central School District (rural): math 58% / reading 64% proficiency, ranked #201 of 590 in NY (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 32 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $210k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 2.25% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.65%
• DSCR: 2.76
• GRM: 3.7

CMA / ARV

• ARV (median comp): $620,635
• List price: $210,000
• Delta: -66.16%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.0%
• Equity multiple: 5.05×
• Total profit: $238,382
• Equity at exit: $189,185

10-year hold

• IRR: 48.5%
• Equity multiple: 11.29×
• Total profit: $605,245
• Equity at exit: $407,984

Cash invested: $58,800 (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 12871

• Home prices YoY: 4.0%
• Active inventory: 32
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $4,721 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$598 /mo · $7,177/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$991
• Net cashflow: $1,943

Break-even live

Break-even rent $2,262

Max offer price $210,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,062	-5% $2,002	+0% $1,943	+5% $1,883	+10% $1,824
Rent	-10% $1,570	-5% $1,756	+0% $1,943	+5% $2,129	+10% $2,316
Rate	-1.0pp $2,048	-0.5pp $1,996	base $1,943	+0.5pp $1,888	+1.0pp $1,833

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,722
Total (3 units)			$4,721

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $210,000 Active 184 DOM
2. 2026-06-18
   days on market $210,000 Active 181 DOM
3. 2026-06-17
   price $210,000 Active 180 DOM
4. 2026-06-17
   days on market $225,000 Active 180 DOM
5. 2026-06-16
   days on market $225,000 Active 179 DOM
6. 2026-06-15
   days on market $225,000 Active 178 DOM
7. 2026-06-14
   days on market $225,000 Active 176 DOM
8. 2026-06-10
   days on market $225,000 Active 173 DOM
9. 2026-06-09
   days on market $225,000 Active 172 DOM
10. 2026-06-08
    days on market $225,000 Active 171 DOM
11. 2026-06-07
    days on market $225,000 Active 170 DOM
12. 2026-06-05
    days on market $225,000 Active 167 DOM
13. 2026-06-03
    days on market $225,000 Active 166 DOM
14. 2026-06-02
    days on market $225,000 Active 165 DOM
15. 2026-06-01
    days on market $225,000 Active 164 DOM
16. 2026-05-31
    days on market $225,000 Active 163 DOM
17. 2026-05-31
    days on market $225,000 Active 162 DOM
18. 2026-02-26
    price $239,500 417-char remark

    Show marketing remark (417 chars)

    MONEY maker in Saratoga County 3 Family property. 15 minutes to Saratoga, and minutes to up and coming Schuylerville shopping. Large rental property with a 4 bedroom, 3 bedroom and 1 bedroom. Large garage behind building with plenty of off street parking on Fish Creek. NO flood insurance required. Some upgrades have been done to apartments and new chimney. Low taxes. Owner is the licensed Realtor. (Listing agent)

19. 2025-12-17
    listed $250,000 Active 417-char remark

    Show marketing remark (417 chars)

    MONEY maker in Saratoga County 3 Family property. 15 minutes to Saratoga, and minutes to up and coming Schuylerville shopping. Large rental property with a 4 bedroom, 3 bedroom and 1 bedroom. Large garage behind building with plenty of off street parking on Fish Creek. NO flood insurance required. Some upgrades have been done to apartments and new chimney. Low taxes. Owner is the licensed Realtor. (Listing agent)

20. 2023-08-09
    soldstatus $72,000
21. 2023-03-22
    listed $99,900 Active
22. 2016-12-22
    historical
23. 2016-06-23
    listed $77,000 New
24. 2016-05-20
    historical
25. 2016-02-15
    status Back On Market
26. 2016-01-26
    status Pend (Under Cntr)
27. 2015-11-25
    listed $89,000 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: $7,177 · $598/mo
• Projected year-2 tax: $7,177 · $598/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,652
• − Mortgage interest: −$11,763
• − Property taxes: −$7,177
• − Insurance: −$1,050
• − Repairs & maintenance: −$4,532
• − Management: −$4,532
• − Depreciation: −$6,109
• Taxable income: $21,488
• Est. tax owed @ 24.0%: −$5,157
• After-tax cash flow: $18,156/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: Schuylerville Central School District
• NCES district ID: 3626160
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 64% ▲ 6.00%
• Median HH income: $69,011
• Composite: 53.71/100
• National rank: #1423
• State rank: #201 of 590 in NY

Livability — Victory

• Score: 62/100
• State rank: #865
• US rank: #16653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victory, NY
• City population: 567
• Population (ZIP): 3,997

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Romanian 9% Lithuanian 9% Slovak 4%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.21%
• Current HPI: 320.1965
• 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

+169.1% since first listed

10 events — show timeline

• 2026-02-26 Price Changed $239,500 Global MLS
• 2025-12-17 Listed $250,000 Global MLS
• 2023-08-09 Sold (Public Records) $72,000 Public Records
• 2023-03-22 Listed $99,900 Global MLS
• 2016-12-22 Listing Removed — Global MLS
• 2016-06-23 Listed $77,000 Global MLS
• 2016-05-20 Listing Removed — Global MLS
• 2016-02-15 Relisted — Global MLS
• 2016-01-26 Pending — Global MLS
• 2015-11-25 Listed $89,000 Global MLS

Property tax history

+21.0%/yr

Latest (2025): $7,177 · +161.1% YoY. Source: county tax records.