191 Meehan Rd · Stillwater, NY 12118

$175,000

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 203 Days on market

Built 1922 2.18 ac lot $112/sqft · 69% 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 +27.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.6/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this great opportunity to create own interior for a 4-bedroom ranch-style home, offering 1,560 sq ft of comfortable single-level living. Built in 1992, this property features a spacious layout with a bright living room, an eat-in kitchen, and ample bedroom space for family, guests, or a home office. The home includes a full, unfinished basement—perfect for storage, a workshop, or future expansion. Nestled on 2.18 private acres in the desirable Stillwater School District, this property provides the ideal blend of privacy and convenience. Enjoy the peace of country living with the flexibility of private utilities and room to grow. Whether you're looking for your first home or a quiet retreat, this property offers exceptional potential and value.

Key facts

• Private acres
• Unfinished basement
• Private utilities

Tags

• UNFINISHED BASEMENT
• PRIVATE ACRES
• STILLWATER SCHOOL DISTRICT
• PRIVATE UTILITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#509 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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: 144 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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: 1.26% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.54%
• DSCR: 1.56
• GRM: 6.6

CMA / ARV

• ARV (median comp): $564,983
• List price: $175,000
• Delta: -69.03%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
373 County Route 75	0.52mi	3/1.5 (-1)	1,590 (+2%)	22mo	$321,500	$202	48

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: 33.5%
• Equity multiple: 3.61×
• Total profit: $127,975
• Equity at exit: $157,654

10-year hold

• IRR: 28.9%
• Equity multiple: 8.17×
• Total profit: $351,315
• Equity at exit: $339,987

Cash invested: $49,000 (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 12118

• Home prices YoY: 8.3%
• Active inventory: 144
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,213 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$245 /mo · $2,942/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $512

Break-even live

Break-even rent $1,564

Max offer price $175,000

Occupancy floor 72%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $175,000 Active 203 DOM
2. 2026-06-17
   days on market $175,000 Active 202 DOM
3. 2026-06-16
   days on market $175,000 Active 201 DOM
4. 2026-06-15
   days on market $175,000 Active 200 DOM
5. 2026-06-14
   days on market $175,000 Active 198 DOM
6. 2026-06-10
   days on market $175,000 Active 195 DOM
7. 2026-06-09
   days on market $175,000 Active 194 DOM
8. 2026-06-08
   days on market $175,000 Active 193 DOM
9. 2026-06-07
   days on market $175,000 Active 192 DOM
10. 2026-06-05
    days on market $175,000 Active 189 DOM
11. 2026-06-03
    days on market $175,000 Active 188 DOM
12. 2026-06-02
    days on market $175,000 Active 187 DOM
13. 2026-06-01
    days on market $175,000 Active 186 DOM
14. 2026-05-31
    days on market $175,000 Active 185 DOM
15. 2026-05-31
    days on market $175,000 Active 184 DOM
16. 2026-04-27
    price $175,000 773-char remark

    Show marketing remark (773 chars)

    Welcome to this great opportunity to create own interior for a 4-bedroom ranch-style home, offering 1,560 sq ft of comfortable single-level living. Built in 1992, this property features a spacious layout with a bright living room, an eat-in kitchen, and ample bedroom space for family, guests, or a home office. The home includes a full, unfinished basement—perfect for storage, a workshop, or future expansion. Nestled on 2.18 private acres in the desirable Stillwater School District, this property provides the ideal blend of privacy and convenience. Enjoy the peace of country living with the flexibility of private utilities and room to grow. Whether you're looking for your first home or a quiet retreat, this property offers exceptional potential and value.

17. 2026-01-16
    status Active 773-char remark

    Show marketing remark (773 chars)

    Welcome to this great opportunity to create own interior for a 4-bedroom ranch-style home, offering 1,560 sq ft of comfortable single-level living. Built in 1992, this property features a spacious layout with a bright living room, an eat-in kitchen, and ample bedroom space for family, guests, or a home office. The home includes a full, unfinished basement—perfect for storage, a workshop, or future expansion. Nestled on 2.18 private acres in the desirable Stillwater School District, this property provides the ideal blend of privacy and convenience. Enjoy the peace of country living with the flexibility of private utilities and room to grow. Whether you're looking for your first home or a quiet retreat, this property offers exceptional potential and value.

18. 2026-01-14
    status Pending 773-char remark

    Show marketing remark (773 chars)

    Welcome to this great opportunity to create own interior for a 4-bedroom ranch-style home, offering 1,560 sq ft of comfortable single-level living. Built in 1992, this property features a spacious layout with a bright living room, an eat-in kitchen, and ample bedroom space for family, guests, or a home office. The home includes a full, unfinished basement—perfect for storage, a workshop, or future expansion. Nestled on 2.18 private acres in the desirable Stillwater School District, this property provides the ideal blend of privacy and convenience. Enjoy the peace of country living with the flexibility of private utilities and room to grow. Whether you're looking for your first home or a quiet retreat, this property offers exceptional potential and value.

19. 2025-11-24
    listed $189,900 Active 773-char remark

    Show marketing remark (773 chars)

    Welcome to this great opportunity to create own interior for a 4-bedroom ranch-style home, offering 1,560 sq ft of comfortable single-level living. Built in 1992, this property features a spacious layout with a bright living room, an eat-in kitchen, and ample bedroom space for family, guests, or a home office. The home includes a full, unfinished basement—perfect for storage, a workshop, or future expansion. Nestled on 2.18 private acres in the desirable Stillwater School District, this property provides the ideal blend of privacy and convenience. Enjoy the peace of country living with the flexibility of private utilities and room to grow. Whether you're looking for your first home or a quiet retreat, this property offers exceptional potential and value.

20. 2023-01-10
    historical
21. 2022-11-01
    listed $129,900 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: $2,942 · $245/mo
• Projected year-2 tax: $2,950 · $246/mo
• Expected delta: +$8/yr (+$1/mo · 0.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,551
• − Mortgage interest: −$9,803
• − Property taxes: −$2,942
• − Insurance: −$875
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$5,091
• Taxable income: $3,592
• Est. tax owed @ 24.0%: −$862
• After-tax cash flow: $5,283/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: 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 — Stillwater

• Score: 69/100
• State rank: #509
• US rank: #8993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saratoga County · 166,192 people
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 17,069
• Household income: $92,710
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 552.0

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% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Lithuanian 8% Romanian 8% Iranian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 2% Chinese 1%

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: ▲ 26.43%
• Current HPI: 343.9893
• Rent YoY: —
• Metro: Albany-Schenectady-Troy, NY
• 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

+34.7% since first listed

6 events — show timeline

• 2026-04-27 Price Changed $175,000 Global MLS
• 2026-01-16 Relisted — Global MLS
• 2026-01-14 Pending — Global MLS
• 2025-11-24 Listed $189,900 Global MLS
• 2023-01-10 Listing Removed — Global MLS
• 2022-11-01 Listed $129,900 Global MLS

Property tax history

+16.5%/yr

Latest (2025): $2,942 · +1.2% YoY. Source: county tax records.