82 4th St · Waterford, NY 12188

$340,000

4 bd · 3.0 ba · 2,964 sqft · MultiFamily public records · 7 Days on market

Built 1890 0.26 ac lot $115/sqft · 20% below area Est $422k · 19% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Spacious three-family home in the Village of Waterford offering strong income potential and flexibility. Property features one 2-bedroom unit and two 1-bedroom units--ideal for investors or owner-occupants. The 2-bedroom unit and one 1-bedroom unit are currently vacant, allowing for immediate occupancy or market-rate rents. All apartments include refrigerator and gas range, tile backsplash in kitchens, and have separate furnaces, breaker panels, and hot water tanks. First-floor unit also includes washer and dryer. Safety features include fire ladder access for the second-floor unit. Exterior features a detached 2-car garage with convenient alley access. Across from the village park. Propert

Key facts

• Major updates
• Roof replaced
• 0.26 acre lot

Tags

• DETACHED 2-CAR GARAGE
• CONVENIENT ALLEY ACCESS
• ACROSS FROM THE VILLAGE PARK
• MAJOR UPDATES
• ROOF REPLACED

Property features AI

Finance

• Financial info: Property is a 3-unit multifamily (triplex); Tenants pay hot water, heat, cable TV, electricity, and gas; Owner pays trash collection, sewer, and water

Exterior

• Parking: Detached garage(s); 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Cable available
• Home design: Triplex; Living area approximately 2,964; Level lot
• Construction: Aluminum siding; Block foundation; Shingle roof; Built on lot sized approximately 0.26 acres (86 x 130)
• Exterior features: Side porch; Chain link fencing; Fenced yard; Detached garages / garage structures

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Unit 3: 1 bedroom
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: Three full bathrooms (one on 1st floor, two on 2nd floor); Unit 1: 1 full bath; Unit 2: 1 full bath; Unit 3: 1 full bath
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas
• Interior features: Unfinished basement with Bilco doors, exterior entry, and sump pump; Vinyl and carpet flooring

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $342/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).

Location & tenants

• Location reads 74/100 on livability (#285 in NY, #4,586 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: commute D+, amenities D.
• Waterford-Halfmoon Union Free School District (rural): math 60% / reading 54% proficiency, ranked #322 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Waterford-Halfmoon Elementary School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 402 students, 45% FRL); Waterford-Halfmoon Junior-Senior High School (math 62% / reading 44%, grade C-, #934 of 1,100 statewide, top 86%, 336 students, 36% FRL).
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $4,890/mo this rent would consume 64% of the median local household income ($92k/yr) (locally 129% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• GRM: 5.8

CMA / ARV

• ARV (median comp): $422,360
• List price: $340,000
• Delta: -19.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 3rd St	0.09mi	5/2.0 (+1)	2,804 (-5%)	22mo	$190,550	$68	60
15-17 4th St	0.32mi	5/3.0 (+1)	2,548 (-14%)	6mo	$354,000	$139	51
3 9th St	0.46mi	5/2.0 (+1)	2,624 (-12%)	4mo	$263,200	$100	47
2 4th St	0.36mi	4/2.0	2,576 (-13%)	16mo	$243,999	$95	44
842 2nd Ave	0.66mi	5/2.0 (+1)	3,402 (+15%)	10mo	$245,000	$72	28

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $10,532
• Equity at exit: $50,695

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $94,714
• Equity at exit: $29,397

Cash invested: $95,200 (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 12188

• Home prices YoY: -13.3%
• Active inventory: 48
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $4,890 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$487 /mo · $5,849/yr
• Insurance: −$142
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,027
• Net cashflow: $1,025

Break-even live

Break-even rent $3,593

Max offer price $340,000

Occupancy floor 74%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,689
▸ 2× units	1	1	$3,200
Total (3 units)			$4,890

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 973-char remark
2. 2026-05-01
   listed $340,000 Active 973-char remark

ⓘ 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: $5,849 · $487/mo
• Projected year-2 tax: $5,849 · $487/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $58,680
• − Mortgage interest: −$19,045
• − Property taxes: −$5,849
• − Insurance: −$6,818
• − Repairs & maintenance: −$4,694
• − Management: −$4,694
• − Depreciation: −$9,891
• Taxable income: $7,688
• Est. tax owed @ 24.0%: −$1,845
• After-tax cash flow: $10,449/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: Waterford-Halfmoon Union Free School District
• NCES district ID: 3630060
• Math proficiency: 60% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $53,359
• Composite: 50.65/100
• National rank: #3943
• State rank: #322 of 755 in NY

Livability — Waterford

• Score: 74/100
• State rank: #285
• US rank: #4586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterford, NY
• County: Saratoga County · 166,192 people
• City population: 10,988
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,988
• Household income: $92,279
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 129.0

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% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 2% Asian 1%
• Common ancestry: Lithuanian 8% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Other Indo-European 2% Spanish 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: ▼ -48.55%
• Current HPI: 316.5619
• 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

2 events — show timeline

• 2026-05-08 Pending — Global MLS
• 2026-05-01 Listed $340,000 Global MLS

Property tax history

+6.6%/yr

Latest (2025): $5,849 · +2.0% YoY. Source: county tax records.