106 Dunsbach Rd · Clifton Gardens, NY 12065

$449,900

4 bd · 3.0 ba · 1,620 sqft · MultiFamily public records · 6 Days on market

Built 1990 0.69 ac lot

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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 +24.6/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +6.1/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Large TWO-Family in Shen School District. A hard to find type of property in this area of Saratoga County. Updated kitchens and bathrooms throughout. Solid investment opportunity for future landlord or for owner-occupied plan. Call for more information, all showings need to be scheduled in advance. Very Good Condition

Key facts

• New siding
• New flooring
• Back deck

Tags

• NEW SIDING
• NEW WINDOWS
• BACK DECK
• NEW FLOORING
• NEW BATHROOMS

Property features AI

Finance

• Financial info: 3-unit property; Maintenance expense listed as $3,000; Tenants are responsible for hot water, heat, cable TV and electricity

Exterior

• Parking: 4 parking spaces total
• Utilities: Public water; Public sewer; Tenants pay for electricity and cable TV
• Home design: Triplex; Below-grade finished area included
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Deck; Rolling slope lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 2 bedrooms (on 2nd floor); Unit 2: 2 bedrooms (on 2nd floor); Unit 3: 2 bedrooms (in basement)
• Flooring: Vinyl flooring throughout
• Bathrooms: Three full bathrooms total; Unit 1: 1 full bath (2nd floor); Unit 2: 1 full bath (2nd floor); Unit 3: 1 full bath (in basement)
• Heating & cooling: Electric baseboard heating; Tenants pay for heat
• Interior features: Vinyl flooring; Finished full basement
• Laundry & utility: Common-area laundry located in the basement; Tenants pay for hot water

What this means for you Summary

Snapshot

• This is a 3 × 2.0-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Cap rate 8.8% vs local median 3.3% in Clifton Gardens — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Shenendehowa High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 3,036 students, 21% FRL).
• Zoned-school proficiency averages 90% at this address vs 72% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Shenendehowa Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 265 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $5,014/mo this rent would consume 53% of the median local household income ($114k/yr) (locally 1040% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $126k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 12y 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 $265k; list at $450k implies a 70% gain — meaningful room to come down on a strong offer.

Recommended offer $449,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $166,860
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Dunsbach Rd	0.03mi	4/2.0	1,608 (-1%)	23mo	$165,000	$103	74

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

Projected returns pro-forma

-3.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-4,904
• Equity at exit: $67,082

10-year hold

• IRR: 10.3%
• Equity multiple: 1.86×
• Total profit: $108,372
• Equity at exit: $38,899

Cash invested: $125,972 (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 12065

• Rents YoY: 4.7%
• Active inventory: 265
• Price-to-rent: 22.4×

Monthly cashflow live

• Estimated rent: $5,014 medium
• Mortgage (P&I): −$2,359
• Tax from tax record: −$480 /mo · $5,758/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,053
• Net cashflow: $934

Break-even live

Break-even rent $3,831

Max offer price $449,900

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2.0	1	$5,013
Total (3 units)			$5,014

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Ponderosa Dr Clifton Park, NY	3.0	2.5	1408	$2,750	$1.95	19d	1	0.78mi
5200 Plank Rd Waterford, NY	2.0–3.0	2.0	1100	$1,895	$1.72	14d	1	1.20mi
1 Sound Pl Cohoes, NY	1.0–3.0	1.0–2.5	1787	$2,894	$1.62	14d	17	1.48mi

Listing history 5 events

1. 2026-06-16
   statusdays on market $449,900 Pending 6 DOM
2. 2026-06-15
   days on market $449,900 Active 5 DOM
3. 2026-06-14
   days on market $449,900 Active 3 DOM
4. 2026-06-13
   remarks 597-char remark
5. 2026-06-13
   listed $449,900 Active 2 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: $5,758 · $480/mo
• Projected year-2 tax: $6,681 · $557/mo
• Expected delta: +$923/yr (+$77/mo · 16.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,168
• − Mortgage interest: −$25,201
• − Property taxes: −$5,758
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,813
• − Management: −$4,813
• − Depreciation: −$13,088
• Taxable income: $4,244
• Est. tax owed @ 24.0%: −$1,019
• After-tax cash flow: $10,194/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: Shenendehowa Central School District
• NCES district ID: 3626670
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 73% ▲ 3.00%
• Median HH income: $82,933
• Composite: 64.59/100
• National rank: #531
• State rank: #98 of 590 in NY

Livability — Clifton Gardens

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Saratoga County · 166,192 people
• City population: 44,726
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 45,116
• Household income: $113,873
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1040.0

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 (81%)
• Race & ethnicity: White 81% Asian 7% Two or more races 7% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Italian 2%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 86% English-only · Other Indo-European 4% Russian/Polish/Slavic 2% 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: ▼ -201.12%
• Current HPI: 318.0765
• Rent YoY: ▲ 4.65%
• 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

+210.3% since first listed

18 events — show timeline

• 2026-06-10 Listed $449,900 Global MLS
• 2021-09-24 Sold (Public Records) $265,000 Public Records
• 2021-09-17 Sold (MLS) $265,000 Global MLS
• 2021-07-22 Pending — Global MLS
• 2021-07-21 Relisted — Global MLS
• 2021-06-24 Listing Removed — Global MLS
• 2021-05-17 Listed $265,000 Global MLS
• 2020-08-24 Listing Removed — Global MLS
• 2020-07-07 Price Changed $282,000 Global MLS
• 2020-06-22 Listed $285,000 Global MLS
• 2020-05-13 Listing Removed — Global MLS
• 2020-03-11 Listed $295,000 Global MLS
• 2019-09-01 Listing Removed — Global MLS
• 2019-06-05 Listed $325,000 Global MLS
• 2017-04-25 Sold (Public Records) $210,000 Public Records
• 2016-02-19 Sold (MLS) $115,000 Global MLS
• 2015-03-23 Listing Removed — Global MLS
• 2014-08-15 Listed $145,000 Global MLS

Property tax history

+1.7%/yr

Latest (2025): $5,758 · +3.8% YoY. Source: county tax records.