71 Creekside Cir · East Greenbush, NY 12033

$115,000

3 bd · 1.0 ba · 924 sqft · Manufactured · 14 Days on market

Built 2018 Good condition

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy peaceful Creekside living in this beautifully maintained 2018 manufactured home, featuring 3 spacious bedrooms and 2 full bathrooms. Owned by one meticulous owner, this home is move in ready and offers low maintenance living. Nestled on one of the most desirable lots in Creekside Park, it backs directly to the serene Moordener Kill Creek, providing privacy and picturesque views year-round. The open- concept layout includes a modern kitchen, generous living space, and a primary suite with en-suite bath. Relax or entertain in your private backyard oasis. This is a rare find.

Key facts

• Creekside living
• Modern kitchen
• Picturesque views

Tags

• CREEKSIDE LIVING
• PICTURESQUE VIEWS
• PRIVATE BACKYARD OASIS
• MODERN KITCHEN
• OPEN CONCEPT LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 13.2% vs local median 3.0% in East Greenbush — 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 76/100 on livability (#233 in NY, #3,674 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• East Greenbush Central School District (suburban): math 68% / reading 71% proficiency, ranked #132 of 590 in NY (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 59 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $115,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 1.60% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.71%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.1%
• Equity multiple: 1.73×
• Total profit: $23,625
• Equity at exit: $17,147

10-year hold

• IRR: 26.5%
• Equity multiple: 3.33×
• Total profit: $75,065
• Equity at exit: $9,943

Cash invested: $32,200 (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 12033

• Home prices YoY: -17.4%
• Active inventory: 59
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $663

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 59%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $115,000 Active 14 DOM
2. 2026-06-17
   days on market $115,000 Active 13 DOM
3. 2026-06-16
   days on market $115,000 Active 12 DOM
4. 2026-06-15
   days on market $115,000 Active 11 DOM
5. 2026-06-14
   days on market $115,000 Active 9 DOM
6. 2026-06-10
   days on market $115,000 Active 6 DOM
7. 2026-06-09
   days on market $115,000 Active 5 DOM
8. 2026-06-08
   days on market $115,000 Active 4 DOM
9. 2026-06-07
   days on market $115,000 Active 3 DOM
10. 2026-06-05
    remarks 585-char remark
11. 2026-06-05
    listed $115,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,144
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$3,345
• Taxable income: $6,514
• Est. tax owed @ 24.0%: −$1,563
• After-tax cash flow: $6,394/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 2018 manufactured home is in good condition with a move-in-ready exterior and interior. It offers a good ROI with minor updates to enhance curb appeal and comfort.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Resale Replace carpet in living areas — New carpet can improve the overall look and feel of the home.
• Rental Clean and maintain HVAC system — A well-maintained HVAC system ensures comfort and reduces energy costs, attracting renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Resale Replace carpet in living areas — New carpet can improve the overall look and feel of the home. ↑
• Rental Clean and maintain HVAC system — A well-maintained HVAC system ensures comfort and reduces energy costs, attracting renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Greenbush Central School District
• NCES district ID: 3609630
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 71% ▲ 2.00%
• Median HH income: $73,174
• Composite: 61.16/100
• National rank: #783
• State rank: #132 of 590 in NY

Livability — East Greenbush

• Score: 76/100
• State rank: #233
• US rank: #3674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,772

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Iranian 8% Romanian 7% Lithuanian 5%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.57%
• Current HPI: 306.386
• 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

1 event — show timeline

• 2026-06-04 Listed $115,000 ForSaleByOwner.com