548 Nys Route 9P · Saratoga Springs, NY 12170

$1,098,500

3 bd · 3.0 ba · 2,197 sqft · SingleFamily · 17 Days on market

Fair condition 0.51 ac lot $500/sqft · 74% above area

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Design and build your dream home with award-winning Bella Home Builders on this 0.51-acre homesite near Saratoga Lake, offering breathtaking sunset views. Enjoy public water, public sewer, and a prime location that blends privacy with convenience. Choose from Bella's inspiring portfolio of floor plans or collaborate to create a one-of-a-kind design tailored to your lifestyle and budget. From concept to completion, Bella's expert team will guide you through every detail —layout, features, and finishes—to ensure your new home is uniquely yours. Price shown is an example; final pricing depends on your chosen plan and selections.

Key facts

• Public sewer
• 0.51-acre homesite
• Prime location

Tags

• 0.51-ACRE HOMESITE
• BREATHTAKING SUNSET VIEWS
• PUBLIC WATER
• PUBLIC SEWER
• PRIME LOCATION
• PRIVACY WITH CONVENIENCE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $1.10M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $8k ($99k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.10M).
• Recommended offer: $1.08M (1.5% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 2.0% in Saratoga Springs — 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 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools A; Watch: amenities D+, cost of living F.
• Stillwater Central School District (suburban): math 56% / reading 60% proficiency, ranked #238 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $117k of equity ($8k loan paydown + $110k appreciation (10.0% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $308k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$189k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $1,082,022 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.82% ✓
• Cap rate: 15.26%
• Cash-on-cash: 32.02%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $632,199
• List price: $1,098,500
• Delta: 73.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Nys Route 9P	0.67mi	3/2.5	2,063 (-6%)	19mo	$606,000	$294	41
3 Travers Ln	0.67mi	4/2.5 (+1)	2,434 (+11%)	17mo	$474,900	$195	30

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: 48.7%
• Equity multiple: 4.65×
• Total profit: $1,121,379
• Equity at exit: $989,616

10-year hold

• IRR: 42.5%
• Equity multiple: 10.40×
• Total profit: $2,891,745
• Equity at exit: $2,134,144

Cash invested: $307,580 (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 12170

• Home prices YoY: 7.4%
• Active inventory: 45
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $20,000 medium
• Mortgage (P&I): −$5,761
• Tax est. 1.5%: −$1,373 /mo · $16,478/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,200
• Net cashflow: $8,209

Break-even live

Break-even rent $9,609

Max offer price $1,098,500

Occupancy floor 54%

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: $274,625
• Closing costs: $32,955
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Windermere Rd Saratoga Springs, NY	3.0	3.0	2415	$20,000	$8.28	23d	1	1.17mi

Listing history 19 events

1. 2026-06-18
   days on market $1,098,500 Active 17 DOM
2. 2026-06-17
   days on market $1,098,500 Active 16 DOM
3. 2026-06-16
   days on market $1,098,500 Active 15 DOM
4. 2026-06-15
   days on market $1,098,500 Active 14 DOM
5. 2026-06-14
   days on market $1,098,500 Active 12 DOM
6. 2026-06-10
   days on market $1,098,500 Active 9 DOM
7. 2026-06-09
   days on market $1,098,500 Active 8 DOM
8. 2026-06-08
   days on market $1,098,500 Active 7 DOM
9. 2026-06-07
   days on market $1,098,500 Active 6 DOM
10. 2026-06-05
    days on market $1,098,500 Active 3 DOM
11. 2026-06-03
    days on market $1,098,500 Active 2 DOM
12. 2026-06-01
    remarks 635-char remark
13. 2026-06-01
    days on marketlisting id $1,098,500 Active 1 DOM
14. 2026-05-31
    days on market $1,098,500 Active 93 DOM
15. 2026-02-26
    listed $1,098,500 Active 645-char remark

    Show marketing remark (645 chars)

    Design and build your dream home with award-winning Bella Home Builders on this 0.51-acre homesite near Saratoga Lake, offering breathtaking sunset views. Enjoy public water, public sewer, and a prime location that blends privacy with convenience. Choose from Bella's inspiring portfolio of floor plans or collaborate to create a one-of-a-kind design tailored to your lifestyle and budget. From concept to completion, Bella's expert team will guide you through every detail —layout, features, and finishes—to ensure your new home is uniquely yours. Price shown is an example; final pricing depends on your chosen plan and selections.

16. 2026-02-21
    historical
17. 2025-11-20
    listed $1,098,500 Active
18. 2025-11-19
    historical
19. 2025-08-18
    listed $1,098,500 Active

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

Taxation est. · year 1

• Rental income: $240,000
• − Mortgage interest: −$61,533
• − Property taxes: −$16,478
• − Insurance: −$5,492
• − Repairs & maintenance: −$19,200
• − Management: −$19,200
• − Depreciation: −$31,956
• Taxable income: $86,141
• Est. tax owed @ 24.0%: −$20,674
• After-tax cash flow: $77,828/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 · 2 photos

Fair 45/100 Cosmetic rehab

The home appears to be in good condition with a good roof and exterior. Landscaping and interior paint touch-ups would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value
• Both Interior paint touch-ups — Fresh paint can make a home look more inviting and well-maintained

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑
• Both Interior paint touch-ups — Fresh paint can make a home look more inviting and well-maintained ↑

ⓘ 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: Stillwater Central School District
• NCES district ID: 3628110
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 60% ▲ 2.00%
• Median HH income: $72,025
• Composite: 51.51/100
• National rank: #1721
• State rank: #238 of 590 in NY

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 40,057
• Population (ZIP): 5,225

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 7% Lithuanian 6% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.13%
• Current HPI: 363.0428
• 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

+0.0% since first listed

5 events — show timeline

• 2026-02-26 Listed $1,098,500 Global MLS
• 2026-02-21 Listing Removed — Global MLS
• 2025-11-20 Listed $1,098,500 Global MLS
• 2025-11-19 Listing Removed — Global MLS
• 2025-08-18 Listed $1,098,500 Global MLS