3901 Lewis Rd · Saratoga Springs, NY 12020

$67,700

3 bd · 2.0 ba · 1,150 sqft · Other · 20 Days on market

Built 1998 Good condition

---

Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Appreciation +0.0/10.0

Listing remarks

1998, 16x72 renovated Champion home set on a secluded lot in a quiet mobile home community, overlooking the Kayaderosseras Creek. 3 bed, 2 bath with an open living space concept. NEW roof, windows and hot water heater. Swift Lock laminate flooring throughout. Central air and furnace serviced seasonally. Move in ready. Two private patio settings. One for BBQ& apos; ing and one that overlooks the creek. Carport offers two covered parking spaces and the gazebo on the front deck keeps the sun from beating down in the summer. Minutes to downtown Saratoga, the track, casino and Interstate 87 Call or email to come check it out! Showings upon request, schedule permitting. Leave a message or se

Key facts

• Secluded lot
• New hot water heater
• New roof

Tags

• RENOVATED CHAMPION HOME
• SECLUDED LOT
• NEW ROOF
• NEW WINDOWS
• NEW HOT WATER HEATER
• SWIFT LOCK LAMINATE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $68k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.7% vs local median 2.0% in Saratoga Springs — 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 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools A; Watch: amenities D+, cost of living F.
• Saratoga Springs City SD (suburban): math 67% / reading 72% proficiency, ranked #138 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+11.3%/yr); 223 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• This rent runs 31% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $468 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $19k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Recommended offer $66,684 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 4.08% ✓
• Cap rate: 36.68%
• Cash-on-cash: 108.51%
• DSCR: 5.83
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.95×
• Total profit: $112,837
• Equity at exit: $10,094

10-year hold

• IRR: —
• Equity multiple: 17.11×
• Total profit: $305,433
• Equity at exit: $5,853

Cash invested: $18,956 (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 12020

• Home prices YoY: -14.8%
• Rents YoY: 11.3%
• Active inventory: 223
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,762 high
• Mortgage (P&I): −$355
• Tax est. 1.5%: −$85 /mo · $1,016/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $1,714

Break-even live

Break-even rent $592

Max offer price $67,700

Occupancy floor 33%

Sensitivity live

Price	-10% $1,761	-5% $1,737	+0% $1,714	+5% $1,691	+10% $1,667
Rent	-10% $1,496	-5% $1,605	+0% $1,714	+5% $1,823	+10% $1,932
Rate	-1.0pp $1,748	-0.5pp $1,731	base $1,714	+0.5pp $1,697	+1.0pp $1,679

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: $16,925
• Closing costs: $2,031
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Broadway Saratoga Springs, NY	2.0	1.0	1000	$2,750	$2.75	44d	1	0.12mi
425 Broadway Saratoga Springs, NY	2.0	1.0	1100	$2,800	$2.55	44d	1	0.13mi
30 Lake Ave Saratoga Springs, NY	2.0	1.0–2.0	976	$3,190	$3.27	15d	7	0.15mi
59 Van Dam St Saratoga Springs, NY	3.0	1.0	1148	$2,500	$2.18	44d	1	0.16mi
55 Railroad Pl Saratoga Springs, NY	1.0–3.0	1.0–2.0	1097	$3,570	$3.25	20d	2	0.21mi
77 Van Dam St Saratoga Springs, NY	2.0	1.0	985	$14,000	$14.21	44d	1	0.22mi
590 N Broadway Saratoga Springs, NY	2.0	1.0	1012	$2,150	$2.12	44d	1	0.25mi
74 Caroline St Saratoga Springs, NY	2.0	2.0	1200	$2,795	$2.33	24d	1	0.25mi
110 Van Dam St Saratoga Springs, NY	2.0	1.0	1120	$2,600	$2.32	44d	1	0.28mi
156 Circular St Unit 9 Saratoga Springs, NY	2.0	1.0	950	$2,350	$2.47	44d	1	0.28mi
1 Spring St Saratoga Springs, NY	3.0	2.0	1340	$30,000	$22.39	44d	1	0.29mi
99 1/2 Walworth St Saratoga Springs, NY	3.0	2.0	1152	$3,200	$2.78	44d	1	0.40mi
17 Van Dorn St Saratoga Springs, NY	2.0	1.5	1342	$18,000	$13.41	44d	1	0.45mi
165 Lake Ave Saratoga Springs, NY	2.0	2.0	1200	$15,000	$12.50	24d	1	0.48mi
175 Lake Ave #2 Saratoga Springs, NY	2.0	1.0	1200	$5,900	$4.92	44d	1	0.53mi
30 Excelsior Ave Unit B-5 Saratoga Springs, NY	2.0	2.0	1000	$2,625	$2.62	22d	1	0.55mi
30 Excelsior Ave Saratoga Springs, NY	2.0	2.0	1100	$2,625	$2.39	44d	1	0.55mi
30 Excelsior Ave Unit Townhome Saratoga Springs, NY	2.0	2.5	1150	$2,825	$2.46	44d	1	0.55mi
9 James St Saratoga Springs, NY	3.0	1.5	700	$1,600	$2.29	24d	1	0.57mi
68 Marvin St Saratoga Springs, NY	2.0	1.0	1100	$2,500	$2.27	24d	1	0.61mi
168 Elm St Unit 1 Saratoga Springs, NY	2.0	1.0	864	$1,600	$1.85	44d	1	0.64mi
31 Covell Ave Saratoga Springs, NY	2.0	1.0	800	$1,744	$2.18	24d	1	0.64mi
116 Catherine St Saratoga Springs, NY	2.0	2.5	1310	$20,000	$15.27	24d	1	0.66mi
223 Lake Ave Saratoga Springs, NY	2.0	1.5	850	$2,150	$2.53	44d	1	0.79mi
2 Ritchie Pl Saratoga Springs, NY	3.0	2.0	1272	$20,000	$15.72	22d	1	0.85mi
116 West Ave Saratoga Springs, NY	2.0	2.0	1135	$20,000	$17.62	24d	1	1.03mi
3 Station Ln Saratoga Springs, NY	1.0–2.0	1.0–2.0	977	$2,120	$2.17	44d	2	1.13mi
30 Excelsior Spring Ave Saratoga Springs, NY	2.0	2.0–2.5	1125	$2,788	$2.48	15d	4	1.15mi
182 Excelsior Ave Saratoga Springs, NY	2.0	2.5	1150	$2,825	$2.46	24d	1	1.21mi
182 Excelsior Ave Unit B-5 Saratoga Springs, NY	2.0	2.0	1000	$2,625	$2.62	22d	1	1.21mi
182 Excelsior Ave Unit D-1 Saratoga Springs, NY	2.0	2.0	1100	$2,625	$2.39	24d	1	1.21mi
21 Loughberry Rd Saratoga Springs, NY	4.0	2.0	1500	$3,400	$2.27	24d	1	1.34mi
289 Jefferson St Saratoga Springs, NY	2.0	2.0	1240	$18,000	$14.52	15d	1	1.36mi
464 Maple Ave Ste 15 Saratoga Springs, NY	2.0	2.0	1316	$3,050	$2.32	14d	4	1.41mi

Listing history 14 events

1. 2026-06-16
   status $67,700 Under Contract 20 DOM
2. 2026-06-15
   days on market $67,700 Active 20 DOM
3. 2026-06-14
   days on market $67,700 Active 18 DOM
4. 2026-06-13
   days on market $67,700 Active 17 DOM
5. 2026-06-10
   days on market $67,700 Active 15 DOM
6. 2026-06-09
   days on market $67,700 Active 14 DOM
7. 2026-06-08
   days on market $67,700 Active 13 DOM
8. 2026-06-07
   days on market $67,700 Active 12 DOM
9. 2026-06-03
   days on market $67,700 Active 8 DOM
10. 2026-06-02
    days on market $67,700 Active 7 DOM
11. 2026-06-01
    days on market $67,700 Active 6 DOM
12. 2026-05-31
    days on market $67,700 Active 5 DOM
13. 2026-05-31
    days on market $67,700 Active 4 DOM
14. 2026-05-26
    listed $67,700 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 4% 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: $33,143
• − Mortgage interest: −$3,792
• − Property taxes: −$1,016
• − Insurance: −$338
• − Repairs & maintenance: −$2,651
• − Management: −$2,651
• − Depreciation: −$1,969
• Taxable income: $20,725
• Est. tax owed @ 24.0%: −$4,974
• After-tax cash flow: $15,595/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This 1998 home is in good condition with recent renovations, including a new roof, windows, and laminate flooring. It is move-in ready and offers two private patio settings and a gazebo, making it an attractive property for both resale and rental.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Painting interior walls and exterior — Fresh paint can make the home look more inviting and increase its value.
• Both Upgrade to more energy-efficient windows — Newer windows can improve energy efficiency and reduce utility costs, making it more attractive for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting interior walls and exterior — Fresh paint can make the home look more inviting and increase its value. ↑
• Both Upgrade to more energy-efficient windows — Newer windows can improve energy efficiency and reduce utility costs, making it more attractive for both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Saratoga Springs City SD
• NCES district ID: 3625770
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $69,864
• Composite: 60.83/100
• National rank: #818
• State rank: #138 of 590 in NY

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saratoga Springs, NY
• County: Saratoga County · 166,192 people
• City population: 40,057
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 34,937
• Household income: $107,112
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 607.0

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Asian 2% Black 2%
• Common ancestry: Romanian 6% Lithuanian 6% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Chinese 1% Spanish 1% Other Asian/Pacific 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: ▼ -60.23%
• Current HPI: 346.5996
• Rent YoY: ▲ 11.26%
• 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

1 event — show timeline

• 2026-05-26 Listed $67,700 FSBO.com