783 Woodstock Rd Lot 74

Altamont, NY 12059

$65,000B+

2 bd · 1.0 ba · 735 sqft · Built 2004 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,070/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$146
• Vac / Maint / Mgmt: −$225
• Net cashflow: $250/mo
• Annual: $2,996/yr
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• 1% rule: 1.65%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 30 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($449 loan paydown + $3k appreciation (3.9% local appreciation)).
• 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: 21 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $65k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 10.9% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Minor: bathroom fixtures — basic and outdated
• Minor: exterior siding — some discoloration