3 5 7 First Ave · Amsterdam, NY 12010

$280,000

9 bd · 3.0 ba · 3,538 sqft · MultiFamily · 386 Days on market

Built 1890 3,920 sqft lot $79/sqft · at area comps Est $286k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +8.5/15.0
• 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

Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

Key facts

• 3,920 sq ft lot
• Built 1890
• Listed 386 days

Tags

• UPDATED ELECTRIC AND PLUMBING

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 $30k of equity ($2k loan paydown + $28k 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 $78k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 386 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago 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 $65k; list at $280k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 386 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.52% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.80%
• DSCR: 1.97
• GRM: 5.5

CMA / ARV

• ARV (median comp): $286,483
• List price: $280,000
• Delta: -2.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22-24 High St	0.34mi	8/4.0 (-1)	3,620 (+2%)	8mo	$210,000	$58	65
7 4th Ave	0.24mi	8/4.0 (-1)	3,520 (-0%)	19mo	$105,000	$30	63
276 E Main St	0.63mi	9/3.0	3,608 (+2%)	6mo	$68,000	$19	62
28 Pulaski St	0.47mi	8/4.0 (-1)	3,240 (-8%)	2mo	$236,380	$73	54
23- 23 1/2 Bunn St	0.28mi	8/4.0 (-1)	3,740 (+6%)	21mo	$180,000	$48	51

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: 40.6%
• Equity multiple: 4.10×
• Total profit: $243,259
• Equity at exit: $252,246

10-year hold

• IRR: 35.0%
• Equity multiple: 9.23×
• Total profit: $645,160
• Equity at exit: $543,978

Cash invested: $78,400 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $4,252 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$893
• Net cashflow: $1,424

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$4,251
Total (3 units)			$4,252

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $280,000 Active 386 DOM
2. 2026-06-17
   days on market $280,000 Active 385 DOM
3. 2026-06-16
   days on market $280,000 Active 384 DOM
4. 2026-06-15
   days on market $280,000 Active 383 DOM
5. 2026-06-14
   days on market $280,000 Active 381 DOM
6. 2026-06-13
   days on market $280,000 Active 380 DOM
7. 2026-06-10
   days on market $280,000 Active 378 DOM
8. 2026-06-09
   days on market $280,000 Active 377 DOM
9. 2026-06-08
   days on market $280,000 Active 376 DOM
10. 2026-06-07
    days on market $280,000 Active 375 DOM
11. 2026-06-03
    days on market $280,000 Active 371 DOM
12. 2026-06-02
    days on market $280,000 Active 370 DOM
13. 2026-06-01
    days on market $280,000 Active 369 DOM
14. 2026-05-31
    days on market $280,000 Active 368 DOM
15. 2026-05-31
    days on market $280,000 Active 367 DOM
16. 2025-12-16
    status Active 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

17. 2025-06-19
    status Pending 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

18. 2025-05-29
    historical Contingent 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

19. 2025-05-29
    status Active 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

20. 2025-05-27
    historical 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

21. 2024-11-26
    listed $280,000 Active 569-char remark

    Show marketing remark (569 chars)

    Discover this well-maintained 3-unit multifamily gem in the heart of Amsterdam! Each side-by-side, multi-level unit features 3 bedrooms, a living room, an eat-in kitchen, and a full bath. With beautiful hardwood floors and updated electrical and plumbing, this property is both charming and convenient. Tenants will enjoy private, fenced-in backyards for outdoor relaxation. Perfect for investors or those looking to live in one unit while renting the others. Conveniently located near shopping, dining, and public transportation. Don't miss this fantastic opportunity!

22. 2005-06-30
    soldstatus $65,000 36-char remark

    Show marketing remark (36 chars)

    Nice brick 3 family for the investor

23. 2005-05-16
    historical 36-char remark

    Show marketing remark (36 chars)

    Nice brick 3 family for the investor

24. 2004-09-10
    listed $60,000 36-char remark

    Show marketing remark (36 chars)

    Nice brick 3 family for the investor

25. 2002-11-26
    soldstatus $51,000
26. 2002-07-24
    historical
27. 2001-10-15
    listed $53,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 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: $51,024
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$4,082
• − Management: −$4,082
• − Depreciation: −$8,145
• Taxable income: $13,430
• Est. tax owed @ 24.0%: −$3,223
• After-tax cash flow: $13,865/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

+419.5% since first listed

12 events — show timeline

• 2025-12-16 Relisted — Global MLS
• 2025-06-19 Pending — Global MLS
• 2025-05-29 Contingent — Global MLS
• 2025-05-29 Relisted — Global MLS
• 2025-05-27 Listing Removed — Global MLS
• 2024-11-26 Listed $280,000 Global MLS
• 2005-06-30 Sold (MLS) $65,000 Global MLS
• 2005-05-16 Listing Removed — Global MLS
• 2004-09-10 Listed $60,000 Global MLS
• 2002-11-26 Sold (MLS) $51,000 Global MLS
• 2002-07-24 Listing Removed — Global MLS
• 2001-10-15 Listed $53,900 Global MLS