27 Mohawk Ave · Waterford, NY 12188

$399,900

8 bd · 3.0 ba · 3,116 sqft · MultiFamily public records · 6 Days on market

Built 1865 5,227 sqft lot

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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
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

MULTIPLE OFFER DEADLINE 6/9 9am See Attached Offer Submission Info Sheet. Meticulously maintained within the same family for decades, this stunning three-family home with a detached 1-car garage located in Historic Waterford is absolute perfection. Located directly along the historical canals, this property is in pristine condition. 100% TURN KEY no costly repairs or hidden surprises. New electrical, plumbing, and appliances in each unit. The property features two 3-bedroom units and one comfortable 2-bedroom unit, making it an incredible asset for seasoned investors or an ideal opportunity for an owner-occupant looking to live for free while tenants cover the mortgage. The Airbnb Advantage

Key facts

• Large yard space
• Historical canals
• 5,227 sq ft lot

Tags

• DETACHED 1-CAR GARAGE
• HISTORICAL CANALS
• DEDICATED LAUNDRY HOOKUPS
• LARGE YARD SPACE
• SCENIC WATERFRONT VIEWS

Property features AI

Finance

• Financial info: Property configured as a 3-unit multifamily (triplex)

Exterior

• Parking: 3 total parking spaces; 1 garage space; Off-street paved driveway parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: 100 Amp electric service; Public water; Public sewer
• Home design: Triplex; Below-grade finished area present; Waterfront on the Mohawk River; Level lot
• Construction: Aluminum siding; Vinyl siding; Roofs include slate, rolled/hot mop, rubber and asphalt; Full unfinished basement with interior entry and sump pump
• Exterior features: Front and rear porches; Patio; Back yard fencing (chain link, perimeter); Other exterior features; Garage(s)

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms; Unit 3: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 3 full bathrooms total; Full bath on 1st floor; Two full baths on 2nd floor
• Heating & cooling: Baseboard heating; Forced air heating; Natural gas heating
• Interior features: Paddle fan; Walk-in closets; Crown molding; Storm door(s); Storm windows, screens and blinds

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $515/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).

Location & tenants

• Location reads 74/100 on livability (#285 in NY, #4,586 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: commute D+, amenities D.
• Waterford-Halfmoon Union Free School District (rural): math 60% / reading 54% proficiency, ranked #322 of 755 in NY (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Waterford-Halfmoon Elementary School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 402 students, 45% FRL); Waterford-Halfmoon Junior-Senior High School (math 62% / reading 44%, grade C-, #934 of 1,100 statewide, top 86%, 336 students, 36% FRL).
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $5,876/mo this rent would consume 76% of the median local household income ($92k/yr) (locally 129% 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 $3k of loan paydown is wiped out by about $12k 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 + 3.0% rent growth), your $112k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $170k; list at $400k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1865 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,900

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 1865 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.47% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.50%
• DSCR: 1.96
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $193,192
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29-31 Middle St	0.21mi	7/3.0 (-1)	3,236 (+4%)	8mo	$200,000	$62	72
886 3rd Ave	0.64mi	7/3.0 (-1)	3,420 (+10%)	15mo	$226,000	$66	36
70 Saratoga Ave	0.73mi	7/3.0 (-1)	2,854 (-8%)	23mo	$115,000	$40	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $33,946
• Equity at exit: $59,626

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $157,526
• Equity at exit: $34,576

Cash invested: $111,972 (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 12188

• Home prices YoY: -13.3%
• Active inventory: 48
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $5,876 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$372 /mo · $4,465/yr
• Insurance: −$167
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,234
• Net cashflow: $1,546

Break-even live

Break-even rent $3,919

Max offer price $399,900

Occupancy floor 69%

Sensitivity live

Price	-10% $1,772	-5% $1,659	+0% $1,546	+5% $1,433	+10% $1,319
Rent	-10% $1,082	-5% $1,314	+0% $1,546	+5% $1,778	+10% $2,010
Rate	-1.0pp $1,747	-0.5pp $1,648	base $1,546	+0.5pp $1,442	+1.0pp $1,337

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,877
Total (3 units)			$5,876

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-13
   status $399,900 Pending 6 DOM
2. 2026-06-10
   days on market $399,900 Active 6 DOM
3. 2026-06-09
   days on market $399,900 Active 5 DOM
4. 2026-06-08
   days on market $399,900 Active 4 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $399,900 Active 3 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: $4,465 · $372/mo
• Projected year-2 tax: $5,612 · $468/mo
• Expected delta: +$1,147/yr (+$96/mo · 25.7%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,512
• − Mortgage interest: −$22,401
• − Property taxes: −$4,465
• − Insurance: −$7,525
• − Repairs & maintenance: −$5,641
• − Management: −$5,641
• − Depreciation: −$11,633
• Taxable income: $13,207
• Est. tax owed @ 24.0%: −$3,170
• After-tax cash flow: $15,380/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: Waterford-Halfmoon Union Free School District
• NCES district ID: 3630060
• Math proficiency: 60% ▲ 3.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $53,359
• Composite: 50.65/100
• National rank: #3943
• State rank: #322 of 755 in NY

Livability — Waterford

• Score: 74/100
• State rank: #285
• US rank: #4586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saratoga County · 166,192 people
• City population: 10,988
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 10,988
• Household income: $92,279
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 129.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Two or more races 4% Black 3% Native American 2% Asian 1%
• Common ancestry: Lithuanian 8% Romanian 4% German 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 2% Other Indo-European 2% Spanish 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: ▼ -48.55%
• Current HPI: 316.5619
• Rent YoY: —
• 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

+135.2% since first listed

2 events — show timeline

• 2026-06-04 Listed $399,900 Global MLS
• 2024-08-01 Sold (Public Records) $170,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $4,465 · +82.5% YoY. Source: county tax records.