783 Woodstock Rd Lot 76

Altamont, NY 12059

$65,000B-

1 bd · 1.0 ba · 500 sqft · Built 2008 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $907/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$146
• Vac / Maint / Mgmt: −$191
• Net cashflow: $121/mo
• Annual: $1,458/yr
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• 1% rule: 1.40%
• Cash to close: $18,200

Investor read

• This is a 1-bed/1.0-bath single-family listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $65k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($449 loan paydown + $3k appreciation (3.9% local appreciation)).
• Location reads 71/100 on livability (#387 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Berne-Knox-Westerlo Central School District (rural): math 54% / reading 57% proficiency, ranked #275 of 590 in NY (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Berne-Knox-Westerlo Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 371 students, 34% FRL); Berne-Knox-Westerlo Junior-Senior High School (math 52% / reading 52%, grade D+, #946 of 1,100 statewide, top 88%, 320 students, 32% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 8.5% vs local median 2.9% in Altamont — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — The cabinets are worn and need updating.
• Major: bathroom fixtures — The fixtures are outdated and need replacement.
• Major: flooring — The carpet is worn and should be replaced with a more durable option.
• Minor: interior paint — The paint is chipping and could be refreshed with a fresh coat.