1027 Township Rd · Altamont, NY 12009

$274,950

4 bd · 2.5 ba · 1,564 sqft · SingleFamily public records · 90 Days on market

Built 1971 2.60 ac lot $176/sqft · 42% below area Est $478k · 42% under ↓ 5% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Appreciation +10.0/10.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Property is OCCUPIED -- DO NOT DISTURB OCCUPANTS under any circumstances. Trespassing is a criminal offense. DRIVE-BY SHOWINGS ONLY. No exceptions. Buyer responsible for all due diligence. Property sold as-is. Country property set on 2.6 acres in the Berne Knox School District. This 4 bedroom, 2.5 bath home offers 1,564 sq ft of living space with a 2 car garage under the residence for convenience and additional storage. Enjoy peaceful surroundings with plenty of room to roam, garden, or relax outdoors. The home is serviced by well and septic. A great opportunity for those seeking privacy and country living while still within reach of nearby amenities.

Key facts

• Well and septic
• Privacy
• 2.6 acres

Tags

• 2.6 ACRES
• BERNE KNOX SCHOOL DISTRICT
• WELL AND SEPTIC
• PRIVACY

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (14.9% below list).
• Recommended offer: $234k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: 47 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 $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Recommended offer $233,890 (14.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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 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: 0.85% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 9.8

CMA / ARV

• ARV (median comp): $477,779
• List price: $274,950
• Delta: -42.45%
• Verdict: UNDERPRICED
• Comps: 15 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.0%
• Equity multiple: 2.85×
• Total profit: $142,595
• Equity at exit: $247,697

10-year hold

• IRR: 20.6%
• Equity multiple: 6.53×
• Total profit: $425,744
• Equity at exit: $534,167

Cash invested: $76,986 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 47
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,339 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$405 /mo · $4,856/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-113

Break-even live

Break-even rent $2,482

Max offer price $254,917

Occupancy floor 100%

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: $68,738
• Closing costs: $8,248
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   days on market $274,950 Active 90 DOM
2. 2026-06-04
   days on market $274,950 Active 87 DOM
3. 2026-06-02
   days on market $274,950 Active 86 DOM
4. 2026-06-01
   days on market $274,950 Active 85 DOM
5. 2026-05-31
   days on market $274,950 Active 84 DOM
6. 2026-04-16
   price $284,950 659-char remark

   Show marketing remark (659 chars)

   Property is OCCUPIED -- DO NOT DISTURB OCCUPANTS under any circumstances. Trespassing is a criminal offense. DRIVE-BY SHOWINGS ONLY. No exceptions. Buyer responsible for all due diligence. Property sold as-is. Country property set on 2.6 acres in the Berne Knox School District. This 4 bedroom, 2.5 bath home offers 1,564 sq ft of living space with a 2 car garage under the residence for convenience and additional storage. Enjoy peaceful surroundings with plenty of room to roam, garden, or relax outdoors. The home is serviced by well and septic. A great opportunity for those seeking privacy and country living while still within reach of nearby amenities.

7. 2026-03-05
   listed $300,000 Active 659-char remark

   Show marketing remark (659 chars)

   Property is OCCUPIED -- DO NOT DISTURB OCCUPANTS under any circumstances. Trespassing is a criminal offense. DRIVE-BY SHOWINGS ONLY. No exceptions. Buyer responsible for all due diligence. Property sold as-is. Country property set on 2.6 acres in the Berne Knox School District. This 4 bedroom, 2.5 bath home offers 1,564 sq ft of living space with a 2 car garage under the residence for convenience and additional storage. Enjoy peaceful surroundings with plenty of room to roam, garden, or relax outdoors. The home is serviced by well and septic. A great opportunity for those seeking privacy and country living while still within reach of nearby amenities.

ⓘ 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: $4,856 · $405/mo
• Projected year-2 tax: $4,856 · $405/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 15 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: $28,067
• − Mortgage interest: −$15,401
• − Property taxes: −$4,856
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − Depreciation: −$7,999
• Taxable loss: −$6,055
• Est. tax savings @ 24.0%: +$1,453
• After-tax cash flow: $92/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: 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): 8,068

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 (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 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: ▲ 18.85%
• Current HPI: 290.1144
• 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

-5.0% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $284,950 Global MLS
• 2026-03-05 Listed $300,000 Global MLS

Property tax history

+1.4%/yr

Latest (2025): $4,856 · -0.4% YoY. Source: county tax records.