292 Stevers Mills Rd · Broadalbin, NY 12025

$94,900

2 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 50 Days on market

Built 1880 3.10 ac lot $89/sqft · 62% below area

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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 +28.5/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity on acreage in Broadalbin! Sitting on over 3 acres, this property offers space, privacy, and tons of potential for the right buyer. The home needs some TLC, but it comes with solid upside, plus a barn and detached garage--perfect for storage, hobbies, or future improvements. It's also a great starter home to make your own and truly customize over time. Located just minutes from Great Sacandaga Lake, with easy access to nearby shops, dining, and a short drive to Amsterdam and Saratoga Springs. Whether you're looking for your next flip, rental, or a place to grow into, this one has the bones to make it worth it. Assignment Listing.

Key facts

• Barn
• Over 3 acres
• Detached garage

Tags

• OVER 3 ACRES
• BARN
• DETACHED GARAGE
• EASY ACCESS TO NEARBY SHOPS
• SHORT DRIVE TO AMSTERDAM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.2% in Broadalbin — 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 74/100 on livability (#290 in NY, #4,681 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Broadalbin-Perth Central School District (rural): math 50% / reading 62% proficiency, ranked #286 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($656 loan paydown + $9k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 50 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 5.8

CMA / ARV

• ARV (median comp): $321,053
• List price: $94,900
• Delta: -70.44%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
161 Stevers Mills Rd	0.64mi	3/1.0 (+1)	1,150 (+8%)	22mo	$249,500	$217	34

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: 34.6%
• Equity multiple: 3.69×
• Total profit: $71,461
• Equity at exit: $85,493

10-year hold

• IRR: 29.8%
• Equity multiple: 8.34×
• Total profit: $195,138
• Equity at exit: $184,370

Cash invested: $26,572 (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 12025

• Home prices YoY: 13.4%
• Active inventory: 37
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$231 /mo · $2,770/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $309

Break-even live

Break-even rent $972

Max offer price $94,900

Occupancy floor 72%

Sensitivity live

Price	-10% $363	-5% $336	+0% $309	+5% $282	+10% $255
Rent	-10% $201	-5% $255	+0% $309	+5% $363	+10% $417
Rate	-1.0pp $357	-0.5pp $333	base $309	+0.5pp $285	+1.0pp $259

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-20
   price $94,900 652-char remark

   Show marketing remark (652 chars)

   Opportunity on acreage in Broadalbin! Sitting on over 3 acres, this property offers space, privacy, and tons of potential for the right buyer. The home needs some TLC, but it comes with solid upside, plus a barn and detached garage--perfect for storage, hobbies, or future improvements. It's also a great starter home to make your own and truly customize over time. Located just minutes from Great Sacandaga Lake, with easy access to nearby shops, dining, and a short drive to Amsterdam and Saratoga Springs. Whether you're looking for your next flip, rental, or a place to grow into, this one has the bones to make it worth it. Assignment Listing.

2. 2026-04-06
   listed $104,900 Active 652-char remark

   Show marketing remark (652 chars)

   Opportunity on acreage in Broadalbin! Sitting on over 3 acres, this property offers space, privacy, and tons of potential for the right buyer. The home needs some TLC, but it comes with solid upside, plus a barn and detached garage--perfect for storage, hobbies, or future improvements. It's also a great starter home to make your own and truly customize over time. Located just minutes from Great Sacandaga Lake, with easy access to nearby shops, dining, and a short drive to Amsterdam and Saratoga Springs. Whether you're looking for your next flip, rental, or a place to grow into, this one has the bones to make it worth it. Assignment Listing.

3. 2022-08-11
   soldstatus $80,000
4. 2019-12-23
   soldstatus $58,000
5. 2019-12-13
   soldstatus $58,000 Closed (Final Sale) 762-char remark

   Show marketing remark (762 chars)

   Looking for a fixer in the Broadalbin-Perth School District? This home was built in 1880 and sits on approx. 3.1 acres. 1st floor offers a large eat-in kitchen, living room leading to open front porch, 2 bedrooms with closets, a full bath, large laundry room, & a mud/sitting room. 2nd floor offers two bedrooms in need of major renovation. Basement is full under the original section of the house with a crawl space under the addition. Foundation needs work. Sellers have a verbal quote from a reputable mason contractor for $3500 to repair. Electricity needs updating (fuses). The barn is approx. 25 x 31 with a good metal roof. Blacktop driveway. Most of the property is wooded. Taxes are with no exemptions. Cash or rehab loan only. Fair Condition

6. 2019-11-04
   status Pend (Under Cntr) 762-char remark

   Show marketing remark (762 chars)

   Looking for a fixer in the Broadalbin-Perth School District? This home was built in 1880 and sits on approx. 3.1 acres. 1st floor offers a large eat-in kitchen, living room leading to open front porch, 2 bedrooms with closets, a full bath, large laundry room, & a mud/sitting room. 2nd floor offers two bedrooms in need of major renovation. Basement is full under the original section of the house with a crawl space under the addition. Foundation needs work. Sellers have a verbal quote from a reputable mason contractor for $3500 to repair. Electricity needs updating (fuses). The barn is approx. 25 x 31 with a good metal roof. Blacktop driveway. Most of the property is wooded. Taxes are with no exemptions. Cash or rehab loan only. Fair Condition

7. 2019-10-09
   price $64,999 762-char remark

   Show marketing remark (762 chars)

   Looking for a fixer in the Broadalbin-Perth School District? This home was built in 1880 and sits on approx. 3.1 acres. 1st floor offers a large eat-in kitchen, living room leading to open front porch, 2 bedrooms with closets, a full bath, large laundry room, & a mud/sitting room. 2nd floor offers two bedrooms in need of major renovation. Basement is full under the original section of the house with a crawl space under the addition. Foundation needs work. Sellers have a verbal quote from a reputable mason contractor for $3500 to repair. Electricity needs updating (fuses). The barn is approx. 25 x 31 with a good metal roof. Blacktop driveway. Most of the property is wooded. Taxes are with no exemptions. Cash or rehab loan only. Fair Condition

8. 2019-09-13
   listed $67,400 New 762-char remark

   Show marketing remark (762 chars)

   Looking for a fixer in the Broadalbin-Perth School District? This home was built in 1880 and sits on approx. 3.1 acres. 1st floor offers a large eat-in kitchen, living room leading to open front porch, 2 bedrooms with closets, a full bath, large laundry room, & a mud/sitting room. 2nd floor offers two bedrooms in need of major renovation. Basement is full under the original section of the house with a crawl space under the addition. Foundation needs work. Sellers have a verbal quote from a reputable mason contractor for $3500 to repair. Electricity needs updating (fuses). The barn is approx. 25 x 31 with a good metal roof. Blacktop driveway. Most of the property is wooded. Taxes are with no exemptions. Cash or rehab loan only. Fair Condition

9. 2019-09-13
   historical

   Show marketing remark (762 chars)

   Looking for a fixer in the Broadalbin-Perth School District? This home was built in 1880 and sits on approx. 3.1 acres. 1st floor offers a large eat-in kitchen, living room leading to open front porch, 2 bedrooms with closets, a full bath, large laundry room, & a mud/sitting room. 2nd floor offers two bedrooms in need of major renovation. Basement is full under the original section of the house with a crawl space under the addition. Foundation needs work. Sellers have a verbal quote from a reputable mason contractor for $3500 to repair. Electricity needs updating (fuses). The barn is approx. 25 x 31 with a good metal roof. Blacktop driveway. Most of the property is wooded. Taxes are with no exemptions. Cash or rehab loan only. Fair Condition

10. 2019-08-01
    price $69,900
11. 2019-06-13
    price $74,900
12. 2019-05-06
    price $79,900
13. 2019-03-12
    listed $84,900 New

ⓘ 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: $2,770 · $231/mo
• Projected year-2 tax: $2,770 · $231/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $16,362
• − Mortgage interest: −$5,316
• − Property taxes: −$2,770
• − Insurance: −$474
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$2,761
• Taxable income: $2,423
• Est. tax owed @ 24.0%: −$581
• After-tax cash flow: $3,128/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: Broadalbin-Perth Central School District
• NCES district ID: 3600005
• Math proficiency: 50% ▼ -7.00%
• Reading proficiency: 62% ▲ 13.00%
• Median HH income: $55,862
• Composite: 48.28/100
• National rank: #2154
• State rank: #286 of 590 in NY

Livability — Broadalbin

• Score: 74/100
• State rank: #290
• US rank: #4681

Category grades

Amenities F Commute F Cost of living A- 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): 5,278

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 7% Iranian 5%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Chinese 1% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.87%
• Current HPI: 344.7778
• 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

+11.8% since first listed

13 events — show timeline

• 2026-04-20 Price Changed $94,900 Global MLS
• 2026-04-06 Listed $104,900 Global MLS
• 2022-08-11 Sold (Public Records) $80,000 Public Records
• 2019-12-23 Sold (Public Records) $58,000 Public Records
• 2019-12-13 Sold (MLS) $58,000 Global MLS
• 2019-11-04 Pending — Global MLS
• 2019-10-09 Price Changed $64,999 Global MLS
• 2019-09-13 Listing Removed — Global MLS
• 2019-09-13 Listed $67,400 Global MLS
• 2019-08-01 Price Changed $69,900 Global MLS
• 2019-06-13 Price Changed $74,900 Global MLS
• 2019-05-06 Price Changed $79,900 Global MLS
• 2019-03-12 Listed $84,900 Global MLS

Property tax history

+15.9%/yr

Latest (2025): $2,770 · +0.1% YoY. Source: county tax records.