6190-6192 Depot Rd · Voorheesville, NY 12009

$500,000

6 bd · 3.0 ba · 3,044 sqft · MultiFamily public records · 24 Days on market

Built 1988 0.52 ac lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Cash flow +5.3/30.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.0/10.0

Multi-family units

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

Listing remarks

* * * OPEN HOUSE 6/20/26 12pm - 2pm * * * Two side-by-side units, one smart investment. This well-configured side-by-side duplex on 0.52 acres offers a compelling income opportunity in one of Albany County's most desirable small communities. Currently owner-occupied, both units are being sold as is and present a cosmetic update opportunity for the buyer looking to add value and maximize returns. Each unit mirrors the other in layout -- 3 bedrooms, 1.5 baths, a full kitchen, living room, first floor laundry, a private 1-car garage, large deck, and a fenced yard. Utilities are completely separate, simplifying management and maximizing flexibility for the next owner. At 3,044 total sq ft

Key facts

• Large deck
• Separate utilities
• Fenced yard

Tags

• SIDE BY SIDE DUPLEX
• 0.52 ACRES
• MOVE IN READY
• SEPARATE UTILITIES
• LARGE DECK
• FENCED YARD

Property features AI

Finance

• Financial info: Property is a 2-unit multifamily (duplex)

Exterior

• Parking: Attached 2-car garage (total 2 parking spaces)
• Utilities: Public water; Public sewer
• Home design: Duplex; 2-story units
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Deck; Fenced yard

Interior

• Kitchen: Each unit includes a kitchen on the 1st floor
• Bedrooms: Each unit has 3 bedrooms (bedrooms for each unit are on the 2nd floor)
• Flooring: Carpet; Hardwood
• Bathrooms: Each unit has 1 full bath and 1 half bath (full and half baths are split between 1st and 2nd floors)
• Heating & cooling: Natural gas heating
• Interior features: Carpet and hardwood flooring
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-554/mo.
• To cash-flow at today's rent, offer at most $304k (39.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $316k (36.8% below list).
• Recommended offer: $304k (39.1% below list) — sets the bar for cash-flow.
• Cap rate 3.6% vs local median 1.7% in Voorheesville — 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 72/100 on livability (#369 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Altamont Elementary School (math 62% / reading 57%, grade B-, #745 of 2,108 statewide, top 39%, 310 students, 25% FRL); Farnsworth Middle School (math 42% / reading 68%, grade B-, #212 of 729 statewide, top 29%, 1,151 students, 24% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Market conditions: 48 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.

Recommended offer $304,284 (39.1% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.63% ✗
• Cap rate: 3.63%
• Cash-on-cash: -9.50%
• DSCR: 0.58
• GRM: 13.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 2.44×
• Total profit: $201,889
• Equity at exit: $450,440

10-year hold

• IRR: 16.6%
• Equity multiple: 5.64×
• Total profit: $650,298
• Equity at exit: $971,390

Cash invested: $140,000 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 48
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $3,160 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$774 /mo · $9,287/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $-1,108

Break-even live

Break-even rent $4,562

Max offer price $304,284

Occupancy floor —

Sensitivity live

Price	-10% $-825	-5% $-966	+0% $-1,108	+5% $-1,249	+10% $-1,391
Rent	-10% $-1,358	-5% $-1,233	+0% $-1,108	+5% $-983	+10% $-858
Rate	-1.0pp $-856	-0.5pp $-981	base $-1,108	+0.5pp $-1,237	+1.0pp $-1,369

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,160
Total (2 units)			$3,160

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $500,000 Active 24 DOM
2. 2026-06-19
   price $500,000 Active 21 DOM
3. 2026-06-18
   days on market $530,000 Active 21 DOM
4. 2026-06-17
   days on market $530,000 Active 20 DOM
5. 2026-06-16
   days on market $530,000 Active 19 DOM
6. 2026-06-15
   days on market $530,000 Active 18 DOM
7. 2026-06-14
   days on market $530,000 Active 16 DOM
8. 2026-06-10
   days on market $530,000 Active 13 DOM
9. 2026-06-09
   days on market $530,000 Active 12 DOM
10. 2026-06-08
    days on market $530,000 Active 11 DOM
11. 2026-06-07
    days on market $530,000 Active 10 DOM
12. 2026-06-05
    days on market $530,000 Active 7 DOM
13. 2026-06-03
    days on market $530,000 Active 6 DOM
14. 2026-06-02
    days on market $530,000 Active 5 DOM
15. 2026-06-01
    days on market $530,000 Active 4 DOM
16. 2026-05-31
    days on market $530,000 Active 3 DOM
17. 2026-05-31
    days on market $530,000 Active 2 DOM
18. 2026-05-28
    listed $530,000 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: $9,287 · $774/mo
• Projected year-2 tax: $9,287 · $774/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 1/10 Low FEMA zone X (unshaded) · 0% 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 6% 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: $37,920
• − Mortgage interest: −$28,008
• − Property taxes: −$9,287
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,034
• − Management: −$3,034
• − Depreciation: −$14,545
• Taxable loss: −$22,487
• Est. tax savings @ 24.0%: +$5,397
• After-tax cash flow: $-7,898/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 of 590 in NY

Livability — Voorheesville

• Score: 72/100
• State rank: #369
• US rank: #6390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,068

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.85%
• Current HPI: 290.1144
• 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

• 2026-05-28 Listed $530,000 Global MLS

Property tax history

+1.7%/yr

Latest (2025): $9,287 · -6.1% YoY. Source: county tax records.