89 Morris Rd · Niskayuna, NY 12304

$89,000

3 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 14 Days on market

Built 1930 0.70 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks here at 89 Morris Rd! Whether you're a seasoned investor or a first-time buyer ready to roll up your sleeves, this is your chance. This three bedroom, one bath home sits on a 0.7 acre lot in Colonie. Built in 1930 with over 1,015 square feet of living space, this property is being sold as-is; priced accordingly and transparently. The value is in the lot, the location, and what you bring to it. Conveniently located with easy access to major routes, local amenities, and the greater Capital Region, this property won't sit long at this price point. Buyers and investors, bring your vision; entry-level priced with real potential. This one's ready when you are.

Key facts

• 0.7 acre lot
• 3 parking spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Cap rate 18.1% vs local median 2.6% in Niskayuna — 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 91/100 on livability (#3 in NY, #51 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• 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: 106 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.20% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.32%
• DSCR: 2.88
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $216,408
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Morris Rd	0.00mi	2/1.0 (-1)	1,016 (0%)	1mo	$55,000	$54	94
3 Memory Ln	0.21mi	3/1.0	1,014 (-0%)	13mo	$281,500	$278	79
6 Memory Ln	0.22mi	2/1.0 (-1)	1,080 (+6%)	7mo	$195,500	$181	68
3983 Albany St	0.63mi	3/1.0	1,082 (+6%)	7mo	$230,500	$213	54
3 Mather Ave	0.70mi	2/1.0 (-1)	884 (-13%)	1mo	$245,000	$277	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 39.1%
• Equity multiple: 2.67×
• Total profit: $41,609
• Equity at exit: $13,270

10-year hold

• IRR: 45.5%
• Equity multiple: 5.36×
• Total profit: $108,548
• Equity at exit: $7,695

Cash invested: $24,920 (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 12304

• Home prices YoY: -25.5%
• Active inventory: 106
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,955 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$162 /mo · $1,939/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $879

Break-even live

Break-even rent $842

Max offer price $89,000

Occupancy floor 50%

Sensitivity live

Price	-10% $929	-5% $904	+0% $879	+5% $854	+10% $828
Rent	-10% $724	-5% $802	+0% $879	+5% $956	+10% $1,033
Rate	-1.0pp $924	-0.5pp $901	base $879	+0.5pp $856	+1.0pp $832

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Arrow St Schenectady, NY	2.0	1.0	1400	$2,000	$1.43	15d	1	0.78mi
66 Cordell Rd Schenectady, NY	2.0	1.0	744	$1,900	$2.55	44d	1	0.95mi

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-03-30
   listed $89,000 Active
3. 2003-04-09
   soldstatus $69,900

ⓘ 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: $1,939 · $162/mo
• Projected year-2 tax: $1,939 · $162/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $23,456
• − Mortgage interest: −$4,985
• − Property taxes: −$1,939
• − Insurance: −$445
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$2,589
• Taxable income: $9,744
• Est. tax owed @ 24.0%: −$2,339
• After-tax cash flow: $8,207/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: South Colonie Central School District
• NCES district ID: 3627210
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $69,499
• Composite: 52.97/100
• National rank: #1527
• State rank: #215 of 590 in NY

Livability — Niskayuna

• Score: 91/100
• State rank: #3
• US rank: #51

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 32,996
• Population (ZIP): 22,027

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 52% Black 17% Two or more races 13% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 89% English-only · Other Indo-European 5% Spanish 4% Other Asian/Pacific 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: ▼ -113.18%
• Current HPI: 331.0288
• 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

+27.3% since first listed

3 events — show timeline

• 2026-04-13 Pending — Global MLS
• 2026-03-30 Listed $89,000 Global MLS
• 2003-04-09 Sold (Public Records) $69,900 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,939 · -8.9% YoY. Source: county tax records.