98 Walworth St · Saratoga Springs, NY 12866

$749,000

5 bd · 3.0 ba · 2,640 sqft · MultiFamily public records · 10 Days on market

Built 1900 4,356 sqft lot Est $776k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 1% rule +7.6/10.0
• Schools +6.1/10.0
• Rent growth +4.8/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

RANCH HOME NEAR HOSPITAL WITH SOME FIXING UP COULD BE A GREAT HOME. GOOD SIZE YARD COULD USE COSMETIC WORK A RARE FIND AND PRICED TO SELL AS IS RIGHT AWAY. Good Condition

Key facts

• Private garden
• Second-story deck
• Wrap-around porch

Tags

• WRAP-AROUND PORCH
• PRIVATE GARDEN
• SECOND-STORY DECK
• 3-UNIT PROPERTY
• LOW-MAINTENANCE SIDING
• ALL-REPLACEMENT WINDOWS

Property features AI

Exterior

• Home design: Multi-family property
• Construction: Total living area approximately 2,640 square feet
• Exterior features: Property sits on a 4,356 sq ft lot

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $749k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $749k).
• Cap rate 11.2% vs local median 2.0% in Saratoga Springs — 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 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools A; Watch: amenities D+, cost of living F.
• Saratoga Springs City SD (suburban): math 67% / reading 72% proficiency, ranked #138 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+9.2%/yr); 474 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $9,455/mo this rent would consume 111% of the median local household income ($102k/yr) (locally 1424% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $210k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $152k; list at $749k implies a 394% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $749,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.58%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $776,160
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138-140 Church St	0.02mi	5/4.0	2,501 (-5%)	0mo	$975,000	$390	86
38 State St	0.37mi	5/4.0	2,540 (-4%)	9mo	$660,000	$260	65
28 Waterbury St	0.21mi	6/3.0 (+1)	2,294 (-13%)	1mo	$675,000	$294	63
74 Walnut St	0.43mi	6/3.0 (+1)	2,908 (+10%)	2mo	$739,900	$254	57
17 York Ave	0.69mi	4/3.0 (-1)	2,620 (-1%)	8mo	$895,000	$342	55
159 Grand Ave	0.32mi	4/3.5 (-1)	2,896 (+10%)	9mo	$790,000	$273	54
25 Clinton St	0.18mi	6/4.0 (+1)	2,955 (+12%)	17mo	$1,175,000	$398	49
212 Circular St	0.72mi	6/3.0 (+1)	2,544 (-4%)	15mo	$650,000	$256	43
135 Maple Ave	0.64mi	4/5.0 (-1)	2,952 (+12%)	3mo	$950,000	$322	35

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.59×
• Total profit: $123,975
• Equity at exit: $111,678

10-year hold

• IRR: 26.1%
• Equity multiple: 3.79×
• Total profit: $586,025
• Equity at exit: $64,760

Cash invested: $209,720 (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 12866

• Home prices YoY: -31.8%
• Rents YoY: 9.2%
• Active inventory: 474
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $9,455 medium
• Mortgage (P&I): −$3,928
• Tax from tax record: −$157 /mo · $1,880/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,986
• Net cashflow: $3,073

Break-even live

Break-even rent $5,565

Max offer price $749,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,497	-5% $3,285	+0% $3,073	+5% $2,861	+10% $2,649
Rent	-10% $2,326	-5% $2,699	+0% $3,073	+5% $3,446	+10% $3,820
Rate	-1.0pp $3,450	-0.5pp $3,263	base $3,073	+0.5pp $2,879	+1.0pp $2,681

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$9,456
Total (3 units)			$9,455

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
194 Grand Ave Saratoga Springs, NY	4.0	2.5	2200	$28,000	$12.73	45d	1	0.38mi
55 State St Saratoga Springs, NY	4.0	3.0	2216	$20,000	$9.03	15d	1	0.40mi
10 Marion Pl Saratoga Springs, NY	4.0	2.0	1800	$4,500	$2.50	24d	1	0.75mi
162 Lake Ave Saratoga Springs, NY	4.0	1.5	2525	$3,500	$1.39	24d	1	0.83mi
77 White St Saratoga Springs, NY	4.0	2.5	2088	$4,950	$2.37	24d	1	0.86mi
64 Second St Saratoga Springs, NY	4.0	2.0	1838	$3,400	$1.85	24d	1	0.86mi

Listing history 8 events

1. 2026-06-21
   days on market $749,000 Active 10 DOM
2. 2026-06-18
   days on market $749,000 Active 7 DOM
3. 2026-06-17
   days on market $749,000 Active 6 DOM
4. 2026-06-16
   days on market $749,000 Active 5 DOM
5. 2026-06-15
   days on market $749,000 Active 4 DOM
6. 2026-06-14
   days on market $749,000 Active 2 DOM
7. 2026-06-13
   remarks 695-char remark
8. 2026-06-13
   listed $749,000 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,880 · $157/mo
• Projected year-2 tax: $7,269 · $606/mo
• Expected delta: +$5,389/yr (+$449/mo · 286.7%)

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

Taxation est. · year 1

• Rental income: $113,460
• − Mortgage interest: −$41,956
• − Property taxes: −$1,880
• − Insurance: −$3,745
• − Repairs & maintenance: −$9,077
• − Management: −$9,077
• − Depreciation: −$21,789
• Taxable income: $25,937
• Est. tax owed @ 24.0%: −$6,225
• After-tax cash flow: $30,650/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: Saratoga Springs City SD
• NCES district ID: 3625770
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $69,864
• Composite: 60.83/100
• National rank: #818
• State rank: #138 of 590 in NY

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saratoga Springs, NY
• County: Saratoga County · 166,192 people
• City population: 40,057
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 40,057
• Household income: $101,901
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1424.0

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Asian 2% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, South Korea, China
• Languages at home: 92% English-only · Spanish 2% German/W. Germanic 1% Korean 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.78%
• Current HPI: 382.7429
• Rent YoY: ▲ 9.15%
• Metro: Albany-Schenectady-Troy, NY
• 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

+508.9% since first listed

5 events — show timeline

• 2026-06-11 Listed $749,000 ForSaleByOwner.com
• 2002-07-10 Sold (Public Records) $151,580 Public Records
• 2002-02-01 Sold (MLS) $70,000 Global MLS
• 2001-09-25 Listed $74,900 Global MLS
• 1995-12-18 Sold (Public Records) $123,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $1,880 · -61.6% YoY. Source: county tax records.