8 Lefko St · Mechanicville, NY 12118

$260,000

5 bd · 2.0 ba · 2,012 sqft · MultiFamily public records · 1 Days on market

Built 1903 Est $177k · 47% over

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Why this score? — see what drove the C+ 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 +25.4/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +6.8/10.0
• Schools +4.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

WELL MAINTAINED HOME WITH ORIGINAL WOODWORK INCLUDES AN IN-LAW APARTMENT. BUILT AND STILL OWNED BY THE SAME FAMILY. SOLID FOUNDATION WILL LAST A THOUSAND YEARS. UNIQUE FEATURES INCLUDE TWO LOVELY ENCLOSED FRONT PORCHES, TWO SEPERATE BASEMENTS WITH TWO FURNACES & TWO ELECTRICAL PANELS. RECENT UPDATES HAVE BEEN MADE THROUGHOUT. YOU WILL LOVE THE GARDEN AREA THAT HAS GRAPE VINES GROWING BESIDE IT! Very Good Condition

Key facts

• In-law apartment
• Garden area
• Solid foundation

Tags

• ORIGINAL WOODWORK
• IN-LAW APARTMENT
• SOLID FOUNDATION
• ENCLOSED FRONT PORCHES
• SEPARATE BASEMENTS
• GARDEN AREA

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 9.0% 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• This rent runs 40% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k 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 $73k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $159k; list at $260k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,000

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.81%
• DSCR: 1.44
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $177,056
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 West St	0.07mi	4/2.0 (-1)	1,712 (-15%)	11mo	$150,000	$88	58
23-25 Leonard St	0.70mi	5/2.0	2,080 (+3%)	9mo	$250,000	$120	55
8 Farrell St	0.72mi	6/2.0 (+1)	2,200 (+9%)	12mo	$165,000	$75	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 31.5%
• Equity multiple: 3.47×
• Total profit: $179,588
• Equity at exit: $234,229

10-year hold

• IRR: 27.2%
• Equity multiple: 7.86×
• Total profit: $499,182
• Equity at exit: $505,123

Cash invested: $72,800 (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: 14.1×

Monthly cashflow live

• Estimated rent: $3,078 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$365 /mo · $4,374/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $595

Break-even live

Break-even rent $2,324

Max offer price $260,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,078
Total (2 units)			$3,078

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Revere Run Mechanicville, NY	4.0	2.5	1997	$3,450	$1.73	14d	1	0.55mi

Listing history 5 events

1. 2026-05-26
   listed $260,000 Active
2. 2010-12-03
   soldstatus $158,900
3. 2010-09-24
   soldstatus $158,900 421-char remark

   Show marketing remark (421 chars)

   WELL MAINTAINED HOME WITH ORIGINAL WOODWORK INCLUDES AN IN-LAW APARTMENT. BUILT AND STILL OWNED BY THE SAME FAMILY. SOLID FOUNDATION WILL LAST A THOUSAND YEARS. UNIQUE FEATURES INCLUDE TWO LOVELY ENCLOSED FRONT PORCHES, TWO SEPERATE BASEMENTS WITH TWO FURNACES & TWO ELECTRICAL PANELS. RECENT UPDATES HAVE BEEN MADE THROUGHOUT. YOU WILL LOVE THE GARDEN AREA THAT HAS GRAPE VINES GROWING BESIDE IT! Very Good Condition

4. 2010-08-09
   historical 421-char remark

   Show marketing remark (421 chars)

   WELL MAINTAINED HOME WITH ORIGINAL WOODWORK INCLUDES AN IN-LAW APARTMENT. BUILT AND STILL OWNED BY THE SAME FAMILY. SOLID FOUNDATION WILL LAST A THOUSAND YEARS. UNIQUE FEATURES INCLUDE TWO LOVELY ENCLOSED FRONT PORCHES, TWO SEPERATE BASEMENTS WITH TWO FURNACES & TWO ELECTRICAL PANELS. RECENT UPDATES HAVE BEEN MADE THROUGHOUT. YOU WILL LOVE THE GARDEN AREA THAT HAS GRAPE VINES GROWING BESIDE IT! Very Good Condition

5. 2010-07-21
   listed $174,900 421-char remark

   Show marketing remark (421 chars)

   WELL MAINTAINED HOME WITH ORIGINAL WOODWORK INCLUDES AN IN-LAW APARTMENT. BUILT AND STILL OWNED BY THE SAME FAMILY. SOLID FOUNDATION WILL LAST A THOUSAND YEARS. UNIQUE FEATURES INCLUDE TWO LOVELY ENCLOSED FRONT PORCHES, TWO SEPERATE BASEMENTS WITH TWO FURNACES & TWO ELECTRICAL PANELS. RECENT UPDATES HAVE BEEN MADE THROUGHOUT. YOU WILL LOVE THE GARDEN AREA THAT HAS GRAPE VINES GROWING BESIDE IT! Very Good Condition

ⓘ 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: $4,374 · $365/mo
• Projected year-2 tax: $4,384 · $365/mo
• Expected delta: +$10/yr (+$1/mo · 0.2%)

ⓘ 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 3/10 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: $36,936
• − Mortgage interest: −$14,564
• − Property taxes: −$4,374
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,955
• − Management: −$2,955
• − Depreciation: −$7,564
• Taxable income: $3,224
• Est. tax owed @ 24.0%: −$774
• After-tax cash flow: $6,370/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: 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

• 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

+48.7% since first listed

5 events — show timeline

• 2026-05-26 Listed $260,000 FSBO.com
• 2010-12-03 Sold (Public Records) $158,900 Public Records
• 2010-09-24 Sold (MLS) $158,900 Global MLS
• 2010-08-09 Listing Removed — Global MLS
• 2010-07-21 Listed $174,900 Global MLS

Property tax history

+2.0%/yr

Latest (2025): $4,374 · +1.9% YoY. Source: county tax records.