11 Clark Ave

Round Lake, NY 12151

$275,000D

2 bd · 1.0 ba · 908 sqft · Built 1925 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,100/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $-248/mo
• Annual: $-2,976/yr
• Cap rate: 5.21%
• Cash-on-cash: -3.87%
• DSCR: 0.83
• 1% rule: 0.76%
• Cash to close: $77,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $-248 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (23.6% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $210k (23.6% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (7.4% local appreciation)).
• Location reads 76/100 on livability (#236 in NY, #3,708 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Shenendehowa Central School District (suburban): math 72% / reading 73% proficiency, ranked #98 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Chango Elementary School (math 84% / reading 81%, grade A+, #133 of 2,108 statewide, top 6%, 470 students, 10% FRL); Gowana Middle School (math 57% / reading 76%, grade A-, #114 of 729 statewide, top 16%, 773 students, 15% FRL); Shenendehowa High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 3,036 students, 21% FRL).
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 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.
• 3 sale attempts since 18y 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.
• Current owner paid $190k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.2% vs local median 2.2% in Round Lake — 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

• 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?
• Built in 1925 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.