225-227 Grand St · Amsterdam, NY 12010

$195,000

6 bd · 2.0 ba · 2,392 sqft · MultiFamily public records · 47 Days on market

Built 1893 6,098 sqft lot $82/sqft · 13% below area Est $232k · 16% under

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Why this score? — see what drove the A 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
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.6/10.0
• 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: 2 units. confirmed

Listing remarks MLS

This recently remodeled two-family home in Amsterdam is a fantastic investment opportunity, whether you're looking to generate rental income or occupy one unit while renting out the other. Each unit features 3 bedrooms and 1 bathroom. The kitchen has plenty of cabinet and counter space. Electrical, plumbing, and windows are new within the last year. 2 car detached garage that provides additional storage or tenant parking.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1893

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $933 ($11k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 47 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $130k; list at $195k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.46% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.50%
• DSCR: 1.91
• GRM: 5.7

CMA / ARV

• ARV (median comp): $231,575
• List price: $195,000
• Delta: -15.79%
• 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
26 Van Derveer St	0.17mi	6/2.0	2,300 (-4%)	1mo	$148,000	$64	85
17-19 Brookside Ave	0.30mi	5/2.0 (-1)	2,400 (+0%)	2mo	$135,000	$56	79
38 Milton Ave	0.07mi	6/2.0	2,148 (-10%)	2mo	$211,400	$98	78
36 Hibbard St	0.45mi	6/2.0	2,406 (+1%)	4mo	$224,000	$93	74
225 Church St	0.38mi	6/2.0	2,328 (-3%)	5mo	$215,000	$92	74
211 Forest Ave	0.33mi	6/2.0	2,225 (-7%)	1mo	$190,000	$85	72
45 Pulaski St	0.45mi	6/2.0	2,348 (-2%)	5mo	$242,500	$103	72
17 Hawk St	0.43mi	6/2.0	2,296 (-4%)	2mo	$198,000	$86	72
10 4th St	0.72mi	6/2.0	2,460 (+3%)	0mo	$220,000	$89	61
6 Blood St	0.56mi	6/2.0	2,535 (+6%)	4mo	$85,000	$34	61
20 Lincoln Ave	0.54mi	5/2.0 (-1)	2,656 (+11%)	2mo	$200,000	$75	50
329 E Main St	0.74mi	6/2.0	2,164 (-10%)	3mo	$199,900	$92	47

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: 39.6%
• Equity multiple: 4.03×
• Total profit: $165,627
• Equity at exit: $175,671

10-year hold

• IRR: 34.1%
• Equity multiple: 9.08×
• Total profit: $441,072
• Equity at exit: $378,842

Cash invested: $54,600 (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: 11.4×

Monthly cashflow live

• Estimated rent: $2,842 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$209 /mo · $2,504/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $933

Break-even live

Break-even rent $1,661

Max offer price $195,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,043	-5% $988	+0% $933	+5% $877	+10% $822
Rent	-10% $708	-5% $820	+0% $933	+5% $1,045	+10% $1,157
Rate	-1.0pp $1,031	-0.5pp $982	base $933	+0.5pp $882	+1.0pp $831

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,842
Total (2 units)			$2,842

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $195,000 Active 47 DOM
2. 2026-06-17
   days on market $195,000 Active 46 DOM
3. 2026-06-16
   days on market $195,000 Active 45 DOM
4. 2026-06-15
   days on market $195,000 Active 44 DOM
5. 2026-06-14
   days on market $195,000 Active 42 DOM
6. 2026-06-13
   days on market $195,000 Active 41 DOM
7. 2026-06-10
   days on market $195,000 Active 39 DOM
8. 2026-06-09
   days on market $195,000 Active 38 DOM
9. 2026-06-08
   days on market $195,000 Active 37 DOM
10. 2026-06-07
    days on market $195,000 Active 36 DOM
11. 2026-06-03
    days on market $195,000 Active 32 DOM
12. 2026-06-02
    days on market $195,000 Active 31 DOM
13. 2026-06-01
    days on market $195,000 Active 30 DOM
14. 2026-05-31
    days on market $195,000 Active 29 DOM
15. 2026-05-31
    days on market $195,000 Active 28 DOM
16. 2026-05-12
    status Active 428-char remark

    Show marketing remark (428 chars)

    This recently remodeled two-family home in Amsterdam is a fantastic investment opportunity, whether you're looking to generate rental income or occupy one unit while renting out the other. Each unit features 3 bedrooms and 1 bathroom. The kitchen has plenty of cabinet and counter space. Electrical, plumbing, and windows are new within the last year. 2 car detached garage that provides additional storage or tenant parking.

17. 2026-05-12
    price $195,000 428-char remark

    Show marketing remark (428 chars)

    This recently remodeled two-family home in Amsterdam is a fantastic investment opportunity, whether you're looking to generate rental income or occupy one unit while renting out the other. Each unit features 3 bedrooms and 1 bathroom. The kitchen has plenty of cabinet and counter space. Electrical, plumbing, and windows are new within the last year. 2 car detached garage that provides additional storage or tenant parking.

18. 2026-04-24
    status Pending 428-char remark

    Show marketing remark (428 chars)

    This recently remodeled two-family home in Amsterdam is a fantastic investment opportunity, whether you're looking to generate rental income or occupy one unit while renting out the other. Each unit features 3 bedrooms and 1 bathroom. The kitchen has plenty of cabinet and counter space. Electrical, plumbing, and windows are new within the last year. 2 car detached garage that provides additional storage or tenant parking.

19. 2026-04-14
    listed $199,900 Active 428-char remark

    Show marketing remark (428 chars)

    This recently remodeled two-family home in Amsterdam is a fantastic investment opportunity, whether you're looking to generate rental income or occupy one unit while renting out the other. Each unit features 3 bedrooms and 1 bathroom. The kitchen has plenty of cabinet and counter space. Electrical, plumbing, and windows are new within the last year. 2 car detached garage that provides additional storage or tenant parking.

20. 2023-04-06
    soldstatus $130,000
21. 1999-08-05
    soldstatus $30,000

ⓘ 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: $2,504 · $209/mo
• Projected year-2 tax: $2,900 · $242/mo
• Expected delta: +$396/yr (+$33/mo · 15.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $34,104
• − Mortgage interest: −$10,923
• − Property taxes: −$2,504
• − Insurance: −$975
• − Repairs & maintenance: −$2,728
• − Management: −$2,728
• − Depreciation: −$5,673
• Taxable income: $8,573
• Est. tax owed @ 24.0%: −$2,057
• After-tax cash flow: $9,135/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
• 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

+550.0% since first listed

6 events — show timeline

• 2026-05-12 Relisted — Global MLS
• 2026-05-12 Price Changed $195,000 Global MLS
• 2026-04-24 Pending — Global MLS
• 2026-04-14 Listed $199,900 Global MLS
• 2023-04-06 Sold (Public Records) $130,000 Public Records
• 1999-08-05 Sold (Public Records) $30,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,504 · -5.4% YoY. Source: county tax records.