28 Stewart St · Amsterdam, NY 12010

$199,900

4 bd · 2.0 ba · 2,596 sqft · MultiFamily · 6 Days on market

Built 1900 Good condition 4,356 sqft lot Est $164k · 22% over

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Don't miss this well-maintained two-family home in Amsterdam offering both comfort and opportunity! Each spacious unit features thoughtful updates throughout, blending modern touches with functional living space. Rare off-street parking provides added convenience, while the fenced-in backyard offers a great space for outdoor enjoyment or tenant appeal. Whether you're looking to owner-occupy or expand your investment portfolio, this property checks all the boxes!

Key facts

• Thoughtful updates
• Two-family home
• Fenced-in backyard

Tags

• TWO-FAMILY HOME
• THOUGHTFUL UPDATES
• OFF-STREET PARKING
• FENCED-IN BACKYARD

Property features AI

Finance

• Financial info: Two-unit property; Tenants pay: hot water, heat, snow removal, electricity, gas; Owner pays: trash collection, sewer, water

Exterior

• Parking: Off-street parking via driveway (1 parking space total)
• Utilities: Public water; Public sewer
• Home design: Duplex; Slate roof; Clapboard siding
• Construction: Clapboard construction
• Exterior features: Front porch; Rear porch (enclosed); Level, landscaped, cleared lot

Interior

• Kitchen: Each unit has a kitchen
• Bedrooms: Unit 1: 2 bedrooms (1st floor); Unit 2: 2 bedrooms (2nd floor)
• Bathrooms: 2 full bathrooms total (one full bath on 1st floor, one full bath on 2nd floor)
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Full basement; Two fireplaces
• Laundry & utility: Laundry in basement; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive. Per door: $430/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 11.5% vs local median 6.3% in Amsterdam — 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 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; 1 comparable units currently listed for rent nearby; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k 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.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.42% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.43%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $163,548
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Bayard St	0.28mi	5/3.0 (+1)	2,582 (-0%)	15mo	$220,000	$85	64
10 Bayard St	0.26mi	4/2.0	2,712 (+4%)	21mo	$145,000	$53	62
180 Division St	0.24mi	5/2.0 (+1)	2,292 (-12%)	14mo	$108,000	$47	52
10 Brandt Pl	0.33mi	5/3.5 (+1)	2,832 (+9%)	18mo	$187,500	$66	43
53 Arnold Ave	0.67mi	3/2.0 (-1)	2,368 (-9%)	8mo	$150,000	$63	42
68 Bunn St	0.64mi	5/2.5 (+1)	2,500 (-4%)	21mo	$154,000	$62	40
111 Stewart St	0.35mi	5/2.0 (+1)	2,208 (-15%)	21mo	$218,000	$99	36

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: 38.0%
• Equity multiple: 3.92×
• Total profit: $163,673
• Equity at exit: $180,086

10-year hold

• IRR: 32.7%
• Equity multiple: 8.84×
• Total profit: $439,012
• Equity at exit: $388,362

Cash invested: $55,972 (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: 11.7×

Monthly cashflow live

• Estimated rent: $2,837 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $860

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,838
Total (2 units)			$2,837

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Stewart St Unit 2 Amsterdam, NY	4.0	1.0	2800	$1,650	$0.59	44d	1	0.07mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-19
   status Active
3. 2026-04-27
   status Pending
4. 2026-04-23
   listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $34,044
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,724
• − Management: −$2,724
• − Depreciation: −$5,815
• Taxable income: $7,586
• Est. tax owed @ 24.0%: −$1,821
• After-tax cash flow: $8,497/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained two-family home offers spacious units with thoughtful updates and modern touches, making it an attractive investment opportunity.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Resale update flooring in kitchen — modernizes space and improves aesthetics
• Resale update bathroom fixtures — modernizes space and improves aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Resale update flooring in kitchen — modernizes space and improves aesthetics ↑
• Resale update bathroom fixtures — modernizes space and improves aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

4 events — show timeline

• 2026-05-21 Pending — Global MLS
• 2026-05-19 Relisted — Global MLS
• 2026-04-27 Pending — Global MLS
• 2026-04-23 Listed $199,900 Global MLS