24 James Dr

Loudonville, NY 12211

$529,900C-

3 bd · 1.5 ba · 2,068 sqft · Built 1960 · SingleFamily · Pending · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,700/mo
• Mortgage (P&I): −$2,779
• Tax + insurance: −$680
• HOA: −$0
• Vac / Maint / Mgmt: −$987
• Net cashflow: $255/mo
• Annual: $3,054/yr
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• 1% rule: 0.89%
• Cash to close: $148,372

Investor read

• This is a 3-bed/1.5-bath single-family listed at $530k.
• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $470k (11.3% below list).
• It's been on market 20 days — a 2% lower offer ($522k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $470k (11.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• South Colonie Central School District (suburban): math 63% / reading 57% proficiency, ranked #215 of 590 in NY (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonie Central High School (math 96% / reading 72%, grade A, #404 of 1,100 statewide, top 37%, 1,538 students, 39% FRL) — zoned schools average 39% FRL vs 19% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 84% at this address vs 60% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the South Colonie Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 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.
• Current owner paid $282k; list at $530k implies a 88% gain — meaningful room to come down on a strong offer.
• Cap rate 6.9% vs local median 3.1% in Loudonville — 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

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.