166 Potter Rd

Galway, NY 12010

$269,000D

2 bd · 2.0 ba · 1,370 sqft · Built 1957 · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,604/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$590
• HOA: −$0
• Vac / Maint / Mgmt: −$337
• Net cashflow: $-734/mo
• Annual: $-8,806/yr
• Cap rate: 3.02%
• Cash-on-cash: -11.69%
• DSCR: 0.48
• 1% rule: 0.60%
• Cash to close: $75,320

Investor read

• This is a 2-bed/2.0-bath single-family listed at $269k.
• At list price, monthly cash flow is $-734 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (48.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (40.4% below list).
• It's been on market 42 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $139k (48.2% below list) — sets the bar for cash-flow.
• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#580 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, cost of living B; Watch: crime F, amenities F, commute F.
• Scotia-Glenville Central School District (suburban): math 57% / reading 68% proficiency, ranked #193 of 590 in NY (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Scotia-Glenville Senior High School (math 92% / reading 95%, grade A+, #131 of 1,100 statewide, top 13%, 736 students, 34% FRL).
• Zoned-school proficiency averages 94% at this address vs 62% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Scotia-Glenville Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 164 active listings in the ZIP; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 3y ago 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.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.