34 Williams St · Mechanicville, NY 12118

$3,499,000

60 bd · 18.0 ba · 38,880 sqft · MultiFamily public records · 335 Days on market

Built 1925 Good condition 0.53 ac lot ↓ 18% since listing

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Turn Key Investment! Fully occupied. The old Saint Paul's building, converted into 15 High end apartments in late 2020. Combinding the elegance of the 1920's with the style and comforts of the 21st century. Owner is the builder and can answer any questions. All new windows, doors, roof & Mechanicals. The Building was set up like a hotel with lots of common space, including: a lounge, banquet space, prep kitchen, rooftop terrace, private outdoor patios, gym, (2)offices, 12 storage units & room to add 4 more apartments, as well as plenty of off street parking. Each Unit runs independently, having their own electric, furnace & h2o heater. As well as washer and dryer, wifi thermostats, granite, SS appliances & much more. With a Cap Rate of nearly 9% it will not last long. CALL TODAY! This building is NOT in foreclosure.

Key facts

• Rooftop terrace
• Off street parking
• Gym

Tags

• ROOFTOP TERRACE
• PRIVATE OUTDOOR PATIOS
• GYM
• OFF STREET PARKING
• WIFI THERMOSTATS
• GRANITE

What this means for you Summary

Snapshot

• This is a 20 × 3-bed/?-bath units multifamily listed at $3.50M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $22k ($264k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($54k rent vs $3.50M).
• Recommended offer: $3.08M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 1.9% in Mechanicville — 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.

Location & tenants

• Location reads 67/100 on livability (#568 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities C-, crime D+, employment D.
• Mechanicville City School District (rural): math 57% / reading 57% proficiency, ranked #270 of 590 in NY (top 46%) — 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).
• At $53,798/mo this rent would consume 696% of the median local household income ($93k/yr) (locally 552% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $374k of equity ($24k loan paydown + $350k 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 $980k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$601k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($3.08M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 225642% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,079,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. 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.
10. 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.
11. 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: 1.54% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.91%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.6%
• Equity multiple: 4.37×
• Total profit: $3,303,274
• Equity at exit: $3,152,176

10-year hold

• IRR: 38.6%
• Equity multiple: 9.80×
• Total profit: $8,624,549
• Equity at exit: $6,797,787

Cash invested: $979,720 (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: 108.4×

Monthly cashflow live

• Estimated rent: $53,798 medium
• Mortgage (P&I): −$18,349
• Tax from tax record: −$727 /mo · $8,723/yr
• Insurance: −$1,458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$11,298
• Net cashflow: $21,966

Break-even live

Break-even rent $25,992

Max offer price $3,499,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 20× units	3	—	$53,800
Total (20 units)			$53,798

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: $874,750
• Closing costs: $104,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $3,499,000 Active 335 DOM
2. 2026-06-17
   days on market $3,499,000 Active 334 DOM
3. 2026-06-16
   days on market $3,499,000 Active 333 DOM
4. 2026-06-15
   days on market $3,499,000 Active 332 DOM
5. 2026-06-14
   days on market $3,499,000 Active 330 DOM
6. 2026-06-13
   days on market $3,499,000 Active 329 DOM
7. 2026-06-10
   days on market $3,499,000 Active 327 DOM
8. 2026-06-09
   days on market $3,499,000 Active 326 DOM
9. 2026-06-08
   days on market $3,499,000 Active 325 DOM
10. 2026-06-07
    days on market $3,499,000 Active 324 DOM
11. 2026-06-05
    days on market $3,499,000 Active 321 DOM
12. 2026-06-03
    days on market $3,499,000 Active 320 DOM
13. 2026-06-02
    days on market $3,499,000 Active 319 DOM
14. 2026-06-01
    days on market $3,499,000 Active 318 DOM
15. 2026-05-31
    days on market $3,499,000 Active 317 DOM
16. 2026-05-31
    days on market $3,499,000 Active 316 DOM
17. 2026-03-26
    listed $1,550
18. 2026-03-19
    listed $2,400
19. 2026-01-16
    status Active 845-char remark

    Show marketing remark (845 chars)

    Turn Key Investment! Fully occupied. The old Saint Paul's building, converted into 15 High end apartments in late 2020. Combinding the elegance of the 1920's with the style and comforts of the 21st century. Owner is the builder and can answer any questions. All new windows, doors, roof & Mechanicals. The Building was set up like a hotel with lots of common space, including: a lounge, banquet space, prep kitchen, rooftop terrace, private outdoor patios, gym, (2)offices, 12 storage units & room to add 4 more apartments, as well as plenty of off street parking. Each Unit runs independently, having their own electric, furnace & h2o heater. As well as washer and dryer, wifi thermostats, granite, SS appliances & much more. With a Cap Rate of nearly 9% it will not last long. CALL TODAY! This building is NOT in foreclosure.

20. 2026-01-07
    historical 845-char remark

    Show marketing remark (845 chars)

    Turn Key Investment! Fully occupied. The old Saint Paul's building, converted into 15 High end apartments in late 2020. Combinding the elegance of the 1920's with the style and comforts of the 21st century. Owner is the builder and can answer any questions. All new windows, doors, roof & Mechanicals. The Building was set up like a hotel with lots of common space, including: a lounge, banquet space, prep kitchen, rooftop terrace, private outdoor patios, gym, (2)offices, 12 storage units & room to add 4 more apartments, as well as plenty of off street parking. Each Unit runs independently, having their own electric, furnace & h2o heater. As well as washer and dryer, wifi thermostats, granite, SS appliances & much more. With a Cap Rate of nearly 9% it will not last long. CALL TODAY! This building is NOT in foreclosure.

21. 2025-07-07
    listed $3,499,000 Active 845-char remark

    Show marketing remark (845 chars)

    Turn Key Investment! Fully occupied. The old Saint Paul's building, converted into 15 High end apartments in late 2020. Combinding the elegance of the 1920's with the style and comforts of the 21st century. Owner is the builder and can answer any questions. All new windows, doors, roof & Mechanicals. The Building was set up like a hotel with lots of common space, including: a lounge, banquet space, prep kitchen, rooftop terrace, private outdoor patios, gym, (2)offices, 12 storage units & room to add 4 more apartments, as well as plenty of off street parking. Each Unit runs independently, having their own electric, furnace & h2o heater. As well as washer and dryer, wifi thermostats, granite, SS appliances & much more. With a Cap Rate of nearly 9% it will not last long. CALL TODAY! This building is NOT in foreclosure.

22. 2024-08-06
    historical $1,950
23. 2024-08-06
    historical $1,950
24. 2024-02-07
    listed $1,950
25. 2024-02-07
    listed $1,900

ⓘ 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: $8,723 · $727/mo
• Projected year-2 tax: $33,928 · $2,827/mo
• Expected delta: +$25,205/yr (+$2,100/mo · 289.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $645,576
• − Mortgage interest: −$195,998
• − Property taxes: −$8,723
• − Insurance: −$17,495
• − Repairs & maintenance: −$51,646
• − Management: −$51,646
• − Depreciation: −$101,789
• Taxable income: $218,279
• Est. tax owed @ 24.0%: −$52,387
• After-tax cash flow: $211,211/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in excellent condition with no visible repairs needed. It offers high-end apartments with common spaces and ample parking, making it a turn-key investment.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Updating flooring in common areas — Improves aesthetics and functionality
• Both Upgrading kitchen appliances — Enhances functionality and appeal
• Both Upgrading bathrooms with modern fixtures — Enhances functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Updating flooring in common areas — Improves aesthetics and functionality ↑
• Both Upgrading kitchen appliances — Enhances functionality and appeal ↑
• Both Upgrading bathrooms with modern fixtures — Enhances functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mechanicville City School District
• NCES district ID: 3618900
• Math proficiency: 57% ▼ -3.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $57,701
• Composite: 49.33/100
• National rank: #2021
• State rank: #270 of 590 in NY

Livability — Mechanicville

• Score: 67/100
• State rank: #568
• US rank: #10227

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mechanicville, NY
• County: Saratoga County · 166,192 people
• City population: 17,069
• 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

-18.4% since first listed

9 events — show timeline

• 2026-03-26 Listed for Rent $1,550 GLOBALMLS
• 2026-03-19 Listed for Rent $2,400 GLOBALMLS
• 2026-01-16 Relisted — Global MLS
• 2026-01-07 Listing Removed — Global MLS
• 2025-07-07 Listed $3,499,000 Global MLS
• 2024-08-06 Rental Removed $1,950 GLOBALMLS
• 2024-08-06 Rental Removed $1,950 GLOBALMLS
• 2024-02-07 Listed for Rent $1,950 GLOBALMLS
• 2024-02-07 Listed for Rent $1,900 GLOBALMLS

Property tax history

-22.5%/yr

Latest (2025): $8,723 · -9.7% YoY. Source: county tax records.