543 Hudson Ave

Stillwater, NY 12170

$130,000A-

4 bd · 2.0 ba · 2,540 sqft · Built 1878 · MultiFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,346/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$343
• HOA: −$0
• Vac / Maint / Mgmt: −$913
• Net cashflow: $2,409/mo
• Annual: $28,905/yr
• Cap rate: 28.53%
• Cash-on-cash: 79.41%
• DSCR: 4.53
• 1% rule: 3.34%
• Cash to close: $36,400

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $130k.
• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $130k).
• It's been on market 43 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• 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.
• Zoned schools: Stillwater Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 499 students, 32% FRL); Stillwater Middle School High School (math 55% / reading 62%, grade C, #877 of 1,100 statewide, top 80%, 525 students, 30% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1878 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 48 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).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $130k implies a 206% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.