783 Woodstock Rd #61 · Altamont, NY 12059

$55,000

3 bd · 1.0 ba · 674 sqft · Manufactured · 57 Days on market

Built 1988 Poor condition 3,049 sqft lot $148/mo HOA · 12% of rent ↓ 13% since listing

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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
• Appreciation +7.0/10.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Welcome to Woodstock Lake, a private seasonal community nestled in the Helderberg Mountains. Set on a deeded lot within a 90-acre park, this inviting camp offers the ideal summer escape for relaxation and recreation from May through mid-October. The fully equipped retreat features 3 bedrooms and 1 bathroom with an outdoor shower, plus a spacious deck for entertaining. Enjoy the convenience of an outdoor kitchen, shed, washer/dryer, dishwasher, and all interior furnishings included, just arrive and enjoy. A 9-person golf cart is also included in the sale for easy access around the community. Residents enjoy wooded common areas, a private lake for fishing and non-motorized boating, a heated pool, clubhouse, playground, and basketball court. The annual HOA of approximately $1,500 includes water, sewer, electric, WiFi, garbage, and full access to amenities, making this an effortless and affordable seasonal getaway. Yearly HOA is $1775

Key facts

• Deeded lot
• Private lake
• Spacious deck

Tags

• PRIVATE SEASONAL COMMUNITY
• DEEDED LOT
• OUTDOOR KITCHEN
• SPACIOUS DECK
• PRIVATE LAKE
• HEATED POOL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $55k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 3.1% in Altamont — 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 71/100 on livability (#387 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Berne-Knox-Westerlo Central School District (rural): math 54% / reading 57% proficiency, ranked #275 of 590 in NY (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($380 loan paydown + $2k appreciation (3.9% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.18% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.74%
• DSCR: 2.46
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $35,048
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
783 Woodstock Rd Lot 127	0.09mi	2/1.0 (-1)	672 (-0%)	21mo	$35,000	$52	73

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

Projected returns pro-forma

3.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 3.36×
• Total profit: $36,274
• Equity at exit: $27,686

10-year hold

• IRR: 39.2%
• Equity multiple: 6.75×
• Total profit: $88,485
• Equity at exit: $45,124

Cash invested: $15,400 (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 12059

• Home prices YoY: 1.2%
• Active inventory: 20
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$148
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $420

Break-even live

Break-even rent $668

Max offer price $55,000

Occupancy floor 60%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $148 · $1,776/yr
• Likely covers: watersewertrashelectricinternetpool

Listing history 16 events

1. 2026-06-18
   days on market $55,000 Active 57 DOM
2. 2026-06-17
   days on market $55,000 Active 56 DOM
3. 2026-06-16
   days on market $55,000 Active 55 DOM
4. 2026-06-15
   days on market $55,000 Active 54 DOM
5. 2026-06-13
   days on market $55,000 Active 52 DOM
6. 2026-06-12
   days on market $55,000 Active 51 DOM
7. 2026-06-09
   days on market $55,000 Active 48 DOM
8. 2026-06-08
   days on market $55,000 Active 47 DOM
9. 2026-06-07
   days on market $55,000 Active 46 DOM
10. 2026-06-07
    pricedays on market $55,000 Active 45 DOM
11. 2026-06-04
    days on market $59,000 Active 42 DOM
12. 2026-06-02
    days on market $59,000 Active 41 DOM
13. 2026-06-01
    days on market $59,000 Active 40 DOM
14. 2026-05-31
    days on market $59,000 Active 39 DOM
15. 2026-05-05
    price $59,000 950-char remark

    Show marketing remark (950 chars)

    Welcome to Woodstock Lake, a private seasonal community nestled in the Helderberg Mountains. Set on a deeded lot within a 90-acre park, this inviting camp offers the ideal summer escape for relaxation and recreation from May through mid-October. The fully equipped retreat features 3 bedrooms and 1 bathroom with an outdoor shower, plus a spacious deck for entertaining. Enjoy the convenience of an outdoor kitchen, shed, washer/dryer, dishwasher, and all interior furnishings included, just arrive and enjoy. A 9-person golf cart is also included in the sale for easy access around the community. Residents enjoy wooded common areas, a private lake for fishing and non-motorized boating, a heated pool, clubhouse, playground, and basketball court. The annual HOA of approximately $1,500 includes water, sewer, electric, WiFi, garbage, and full access to amenities, making this an effortless and affordable seasonal getaway. Yearly HOA is $1775

16. 2026-04-21
    listed $68,000 Active 950-char remark

    Show marketing remark (950 chars)

    Welcome to Woodstock Lake, a private seasonal community nestled in the Helderberg Mountains. Set on a deeded lot within a 90-acre park, this inviting camp offers the ideal summer escape for relaxation and recreation from May through mid-October. The fully equipped retreat features 3 bedrooms and 1 bathroom with an outdoor shower, plus a spacious deck for entertaining. Enjoy the convenience of an outdoor kitchen, shed, washer/dryer, dishwasher, and all interior furnishings included, just arrive and enjoy. A 9-person golf cart is also included in the sale for easy access around the community. Residents enjoy wooded common areas, a private lake for fishing and non-motorized boating, a heated pool, clubhouse, playground, and basketball court. The annual HOA of approximately $1,500 includes water, sewer, electric, WiFi, garbage, and full access to amenities, making this an effortless and affordable seasonal getaway. Yearly HOA is $1775

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $14,404
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − HOA: −$1,776
• − Depreciation: −$1,600
• Taxable income: $4,542
• Est. tax owed @ 24.0%: −$1,090
• After-tax cash flow: $3,952/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 · 2 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates across all systems, significantly impacting its value. Immediate action is needed to address the poor condition and ensure the property is move-in ready.

Repairs flagged

• Major roof — No photos of roof
• Major exterior siding — No photos of exterior
• Major interior walls/paint — No photos of interior walls/paint
• Major windows — No photos of windows
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major landscaping — No photos of landscaping/curb appeal

Value-add opportunities

• Both exterior painting — Enhances curb appeal and resale value
• Both HVAC replacement — Improves comfort and energy efficiency
• Both landscaping — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No photos of roof	Major	$15,000–50,000
exterior siding · No photos of exterior	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
windows · No photos of windows	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
landscaping · No photos of landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior painting — Enhances curb appeal and resale value ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and rental value ↑

ⓘ 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: Berne-Knox-Westerlo Central School District
• NCES district ID: 3604650
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 57% ▲ 3.00%
• Median HH income: $68,684
• Composite: 49.13/100
• National rank: #2046
• State rank: #275 of 590 in NY

Livability — Altamont

• Score: 71/100
• State rank: #387
• US rank: #6655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 8,068
• Population (ZIP): 1,531

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Pacific Islander 1%
• Common ancestry: Romanian 12% Lithuanian 4% Iranian 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 99% English-only · Chinese 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.94%
• Current HPI: 337.9072
• 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

-13.2% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $59,000 Global MLS
• 2026-04-21 Listed $68,000 Global MLS