743 Swaggertown Rd

East Glenville, NY 12302

$239,000D

3 bd · 1.0 ba · 960 sqft · Built 1946 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,986/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$348
• HOA: −$0
• Vac / Maint / Mgmt: −$417
• Net cashflow: $-32/mo
• Annual: $-389/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• 1% rule: 0.83%
• Cash to close: $66,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $239k.
• At list price, monthly cash flow is $-32 ($-389/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (16.9% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $199k (16.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#535 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: cost of living C-, crime D+, amenities F.
• Burnt Hills-Ballston Lake Central School District (suburban): math 64% / reading 73% proficiency, ranked #137 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Charlton Heights Elementary School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 481 students, 14% FRL); Burnt Hills-Ballston Lake Senior High School (math 97% / reading 98%, grade A+, #49 of 1,100 statewide, top 5%, 928 students, 19% FRL).
• Zoned-school proficiency averages 85% at this address vs 68% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Burnt Hills-Ballston Lake Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 127 active listings in the ZIP; solid renter incomes; 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.
• Current owner paid $100k; list at $239k implies a 139% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 3.5% in East Glenville — 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 1946 — 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.
• 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?
• 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.