20 Voorhees St · Amsterdam, NY 12010

$69,000

6 bd · 2.0 ba · 2,148 sqft · MultiFamily public records · 101 Days on market

Built 1920 5,662 sqft lot $32/sqft · 67% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor opportunity with strong value-add potential. Multi-unit property located in a desirable area with solid rental demand and strong comparable sales. Property requires full renovation and offers an excellent opportunity to rehab, reposition, or add to a long-term rental portfolio. The building features multiple units with spacious layouts and solid structural bones. Once renovated, the property has significant income and resale potential. Sold strictly AS-IS. Ideal for cash buyers or renovation financing. Due to potential safety hazards, no interior access will be granted. Do not enter the property. Drive-by viewing only. Buyer responsible for verifying all information and accepting property in its current condition.

Key facts

• Spacious layouts
• Resale potential
• Full renovation

Tags

• MULTI-UNIT PROPERTY
• FULL RENOVATION
• SPACIOUS LAYOUTS
• SOLID STRUCTURAL BONES
• SIGNIFICANT INCOME POTENTIAL
• RESALE POTENTIAL

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $69k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 54.1% vs local median 6.3% in Amsterdam — 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 75/100 on livability (#247 in NY, #3,884 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Amsterdam City School District (town): math 35% / reading 41% proficiency, ranked #546 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 164 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $69k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 5.82% ✓
• Cap rate: 54.10%
• Cash-on-cash: 170.76%
• DSCR: 8.60
• GRM: 1.4

CMA / ARV

• ARV (median comp): $209,298
• List price: $69,000
• Delta: -67.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
329 E Main St	0.42mi	6/2.0	2,164 (+1%)	3mo	$199,900	$92	76
38 Milton Ave	0.64mi	6/2.0	2,148 (0%)	2mo	$211,400	$98	68
45 Pulaski St	0.31mi	6/2.0	2,348 (+9%)	5mo	$242,500	$103	66
18 Kline St #2	0.20mi	7/2.0 (+1)	1,924 (-10%)	3mo	$148,000	$77	66
40 James St	0.44mi	6/2.5	2,200 (+2%)	11mo	$135,000	$61	64
36 Hibbard St	0.35mi	6/2.0	2,406 (+12%)	4mo	$224,000	$93	60
17 Hawk St	0.68mi	6/2.0	2,296 (+7%)	2mo	$198,000	$86	56
26 Van Derveer St	0.72mi	6/2.0	2,300 (+7%)	1mo	$148,000	$64	54
9-11 Teller St	0.51mi	6/2.0	2,340 (+9%)	12mo	$190,000	$81	51
225 Church St	0.70mi	6/2.0	2,328 (+8%)	5mo	$215,000	$92	50
17-19 Brookside Ave	0.62mi	5/2.0 (-1)	2,400 (+12%)	2mo	$135,000	$56	45
35 Milton Ave	0.63mi	7/2.5 (+1)	2,384 (+11%)	8mo	$240,000	$101	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.83×
• Total profit: $209,199
• Equity at exit: $62,161

10-year hold

• IRR: —
• Equity multiple: 25.91×
• Total profit: $481,264
• Equity at exit: $134,052

Cash invested: $19,320 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $4,014 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$31 /mo · $376/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$843
• Net cashflow: $2,694

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 28%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,014
Total (3 units)			$4,014

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   status $69,000 Pending 101 DOM
2. 2026-06-17
   days on market $69,000 Active 101 DOM
3. 2026-06-16
   days on market $69,000 Active 100 DOM
4. 2026-06-15
   days on market $69,000 Active 99 DOM
5. 2026-06-14
   days on market $69,000 Active 97 DOM
6. 2026-06-13
   days on market $69,000 Active 96 DOM
7. 2026-06-10
   days on market $69,000 Active 94 DOM
8. 2026-06-09
   days on market $69,000 Active 93 DOM
9. 2026-06-08
   days on market $69,000 Active 92 DOM
10. 2026-06-07
    days on market $69,000 Active 91 DOM
11. 2026-06-03
    days on market $69,000 Active 87 DOM
12. 2026-06-02
    days on market $69,000 Active 86 DOM
13. 2026-06-01
    days on market $69,000 Active 85 DOM
14. 2026-05-31
    days on market $69,000 Active 84 DOM
15. 2026-05-31
    days on market $69,000 Active 83 DOM
16. 2026-03-07
    listed $75,000 Active 735-char remark

    Show marketing remark (735 chars)

    Investor opportunity with strong value-add potential. Multi-unit property located in a desirable area with solid rental demand and strong comparable sales. Property requires full renovation and offers an excellent opportunity to rehab, reposition, or add to a long-term rental portfolio. The building features multiple units with spacious layouts and solid structural bones. Once renovated, the property has significant income and resale potential. Sold strictly AS-IS. Ideal for cash buyers or renovation financing. Due to potential safety hazards, no interior access will be granted. Do not enter the property. Drive-by viewing only. Buyer responsible for verifying all information and accepting property in its current condition.

17. 2025-12-15
    historical
18. 2025-09-27
    price $72,000
19. 2025-06-28
    listed $74,999 Active
20. 2025-06-19
    soldstatus $45,000 Closed
21. 2025-04-08
    status Pending
22. 2024-12-22
    listed $49,888 Active
23. 1999-04-01
    soldstatus $25,000

ⓘ 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: $376 · $31/mo
• Projected year-2 tax: $771 · $64/mo
• Expected delta: +$395/yr (+$33/mo · 105.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $48,168
• − Mortgage interest: −$3,865
• − Property taxes: −$376
• − Insurance: −$1,011
• − Repairs & maintenance: −$3,853
• − Management: −$3,853
• − Depreciation: −$2,007
• Taxable income: $33,202
• Est. tax owed @ 24.0%: −$7,968
• After-tax cash flow: $24,355/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: Amsterdam City School District
• NCES district ID: 3602970
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 41% ▲ 10.00%
• Median HH income: $41,735
• Composite: 32.03/100
• National rank: #5824
• State rank: #546 of 590 in NY

Livability — Amsterdam

• Score: 75/100
• State rank: #247
• US rank: #3884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amsterdam, NY
• City population: 27,339
• Population (ZIP): 27,339

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 23% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 18%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 11% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.12%
• Current HPI: 312.4966
• 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

+200.0% since first listed

8 events — show timeline

• 2026-03-07 Listed $75,000 Global MLS
• 2025-12-15 Listing Removed — Global MLS
• 2025-09-27 Price Changed $72,000 Global MLS
• 2025-06-28 Listed $74,999 Global MLS
• 2025-06-19 Sold (MLS) $45,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-12-22 Listed $49,888 OneKey® MLS as Distributed by MLS Grid
• 1999-04-01 Sold (Public Records) $25,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $376 · -5.4% YoY. Source: county tax records.