3 Bunce Ln · Stillwater, NY 12170

$149,000

4 bd · 3.0 ba · 2,213 sqft · MultiFamily public records · 1 Days on market

Built 1857 0.40 ac lot Est $288k · 48% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Opportunity to own a 3-unit investment property in the highly desirable Stillwater area. The spacious lot features off-street parking and a retaining wall installed in 2006 to help protect against erosion. Enjoy direct water access with the potential to build a small boat dock, creating a unique amenity rarely found at this price point. Known for excellent bass fishing, this location is a favorite among outdoor enthusiasts. Conveniently located near local amenities, schools, parks, and all that Saratoga County has to offer, this property combines investment potential with an attractive lifestyle setting. Whether you're looking to expand your portfolio or pursue your next project, this is an

Key facts

• Off-street parking
• Retaining wall
• Direct water access

Tags

• OFF-STREET PARKING
• RETAINING WALL
• DIRECT WATER ACCESS
• POTENTIAL TO BUILD BOAT DOCK

Property features AI

Finance

• Financial info: Multifamily property with 3 total units

Exterior

• Parking: Off-street parking for 5 vehicles
• Utilities: Public water; Public sewer
• Home design: Triplex; Living area approximately 2,213 (listed)
• Construction: Wood siding construction
• Exterior features: Other exterior features; Wood siding

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms; Unit 3: 1 bedroom
• Bathrooms: 3 full bathrooms (one on each of 1st, 2nd and 3rd levels)
• Heating & cooling: Oil heating
• Interior features: Basement with Bilco doors; Riverfront property on the Hudson River

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $149k).

Location & tenants

• Location reads 69/100 on livability (#509 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Stillwater Central School District (suburban): math 56% / reading 60% proficiency, ranked #238 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stillwater Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 499 students, 32% FRL); Stillwater Middle School High School (math 55% / reading 62%, grade C, #877 of 1,100 statewide, top 80%, 525 students, 30% FRL).
• Market conditions: 45 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).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 $42k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k 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.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1857 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1857 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.02% ✓
• Cap rate: 25.71%
• Cash-on-cash: 69.35%
• DSCR: 4.09
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $287,690
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 Hudson Ave	0.07mi	4/4.0	2,080 (-6%)	7mo	$270,000	$130	77

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: 79.0%
• Equity multiple: 6.55×
• Total profit: $231,347
• Equity at exit: $134,231

10-year hold

• IRR: 73.2%
• Equity multiple: 14.51×
• Total profit: $563,641
• Equity at exit: $289,474

Cash invested: $41,720 (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 12170

• Home prices YoY: 7.4%
• Active inventory: 45
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$300 /mo · $3,606/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $2,356

Break-even live

Break-even rent $1,518

Max offer price $149,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,500
Total (3 units)			$4,500

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
949 Hudson Ave Stillwater, NY	3.0	2.5	2128	$3,100	$1.46	14d	1	0.83mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $149,000 Active 1 DOM

ⓘ 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: $3,606 · $300/mo
• Projected year-2 tax: $3,606 · $300/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 10/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $54,000
• − Mortgage interest: −$8,346
• − Property taxes: −$3,606
• − Insurance: −$1,412
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − Depreciation: −$4,335
• Taxable income: $27,662
• Est. tax owed @ 24.0%: −$6,639
• After-tax cash flow: $21,627/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: Stillwater Central School District
• NCES district ID: 3628110
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 60% ▲ 2.00%
• Median HH income: $72,025
• Composite: 51.51/100
• National rank: #1721
• State rank: #238 of 590 in NY

Livability — Stillwater

• Score: 69/100
• State rank: #509
• US rank: #8993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stillwater, NY
• Population (ZIP): 5,225

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 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 7% Lithuanian 6% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▲ 25.13%
• Current HPI: 363.0428
• Rent YoY: —
• Metro: —
• 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

+8.0% since first listed

10 events — show timeline

• 2026-06-17 Listed $149,000 Global MLS
• 2026-01-02 Listing Removed — Global MLS
• 2025-12-09 Price Changed $172,000 Global MLS
• 2025-11-04 Price Changed $173,000 Global MLS
• 2025-10-17 Price Changed $174,000 Global MLS
• 2025-07-15 Listed $175,000 Global MLS
• 2023-03-29 Pending — Global MLS
• 2022-11-09 Pending — Global MLS
• 2022-11-09 Listing Removed — Global MLS
• 2022-10-23 Listed $137,900 Global MLS

Property tax history

+19.1%/yr

Latest (2025): $3,606 · +24.8% YoY. Source: county tax records.