69 Gipp Rd · Westmere, NY 12203

$359,900

3 bd · 1.0 ba · 1,386 sqft · SingleFamily public records · 4 Days on market

Built 1952 0.54 ac lot Est $320k · 12% over

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Why this score? — see what drove the F 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 +8.8/30.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly remodeled home features new kitchen w/stainless steel appliances, tile bath, refinished hardwood floors, updated electric and plumbing and new gas boiler. New vinyl siding, updated windows and roof, fresh paint and new carpet make this home ready to move right in. Finished 2nd floor perfect for master suite. Professionally landscaped. New Driveway. large fenced lot & Guilderland schools. Owner is a licensed real estate agent. Excellent Condition

Key facts

• Above ground pool
• Finished lower level
• 0.54 acre lot

Tags

• FINISHED LOWER LEVEL
• FULLY FENCED BACKYARD
• ABOVE GROUND POOL

Property features AI

Exterior

• Parking: Off-street parking for 4 vehicles; Driveway
• Utilities: Public water; Public sewer
• Home design: Single family residence; Updated/remodeled
• Construction: Vinyl siding; Asphalt roof; Finished full basement
• Exterior features: Deck; Above-ground pool; Back yard with fencing, gate, and landscaped grounds; Corner lot; level and private

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom on second floor; Two additional bedrooms on first floor
• Flooring: Wood; Carpet; Ceramic tile
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Hot water heating (natural gas); Window cooling unit(s)
• Interior features: Paddle fan; Built-in features; Blinds and curtain rods on windows; Display window(s)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (25.3% below list).
• Recommended offer: $269k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.1% in Westmere — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#477 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F, cost of living D-.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Guilderland Elementary School (math 62% / reading 67%, grade B, #591 of 2,108 statewide, top 31%, 475 students, 22% FRL); Farnsworth Middle School (math 42% / reading 68%, grade B-, #212 of 729 statewide, top 29%, 1,151 students, 24% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 39% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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 $182k; list at $360k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,001 (25.3% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.75% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $320,166
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Victor Dr	0.14mi	3/1.5	1,200 (-13%)	3mo	$345,000	$288	66
1838 Western Ave	0.48mi	3/1.0	1,439 (+4%)	6mo	$224,900	$156	66
29 Velina Dr	0.30mi	4/1.0 (+1)	1,341 (-3%)	15mo	$276,000	$206	63
19 Drawbridge Dr	0.64mi	3/2.5	1,388 (+0%)	9mo	$399,000	$287	56
27 Northgate Dr	0.44mi	3/2.5	1,502 (+8%)	6mo	$400,000	$266	55
22 Rapp Rd	0.56mi	3/1.0	1,235 (-11%)	2mo	$107,200	$87	54
1834 Western Ave	0.46mi	4/1.0 (+1)	1,498 (+8%)	8mo	$297,000	$198	53
14 Wendom Rd	0.44mi	3/2.0	1,523 (+10%)	11mo	$342,000	$225	50
6220 Johnston Rd	0.74mi	3/1.0	1,482 (+7%)	9mo	$327,500	$221	47
1833 Western Ave	0.44mi	4/1.5 (+1)	1,200 (-13%)	7mo	$290,000	$242	44
11 Drawbridge Dr	0.67mi	4/2.0 (+1)	1,447 (+4%)	11mo	$345,000	$238	44
17 Malpass Rd	0.61mi	4/2.0 (+1)	1,582 (+14%)	10mo	$365,000	$231	31

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 · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.20×
• Total profit: $-80,432
• Equity at exit: $53,662

10-year hold

• IRR: -21.7%
• Equity multiple: -0.06×
• Total profit: $-106,883
• Equity at exit: $31,118

Cash invested: $100,772 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$1,887
• Tax from tax record: −$387 /mo · $4,640/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $-299

Break-even live

Break-even rent $3,068

Max offer price $307,099

Occupancy floor —

Sensitivity live

Price	-10% $-95	-5% $-197	+0% $-299	+5% $-401	+10% $-503
Rent	-10% $-511	-5% $-405	+0% $-299	+5% $-193	+10% $-86
Rate	-1.0pp $-118	-0.5pp $-207	base $-299	+0.5pp $-392	+1.0pp $-487

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 Greenwich Dr Albany, NY	2.0	1.0	1050	$2,000	$1.90	45d	1	0.23mi
1000 Apex Ln Albany, NY	1.0–3.0	1.0–2.0	1525	$4,175	$2.74	15d	29	0.25mi
1700 Western Ave Albany, NY	1.0–2.0	1.0–2.0	1438	$2,500	$1.74	15d	1	0.65mi
1 Dresden Ct Albany, NY	3.0	1.5	1100	$2,650	$2.41	45d	1	0.87mi
190 Church Rd Albany, NY	3.0	1.0	875	$2,600	$2.97	15d	1	1.08mi
55 Woodlake Rd Albany, NY	1.0–2.0	1.0–2.0	903	$2,050	$2.27	15d	1	1.30mi
101 Steuben Dr Guilderland, NY	1.0–2.0	1.0–2.0	901	$2,134	$2.37	15d	10	1.35mi
93 Ridgewood Ter Albany, NY	2.0	1.5	1200	$1,900	$1.58	45d	1	1.36mi
120 Knollwood Ter Unit 120 Albany, NY	4.0	2.5	1575	$2,900	$1.84	25d	1	1.40mi
120 Knollwood Ter Unit 120 Albany, NY	4.0	2.5	1575	$2,900	$1.84	15d	1	1.40mi
61 Point of Woods Dr Albany, NY	2.0	1.5	1064	$1,850	$1.74	46d	1	1.47mi

Listing history 3 events

1. 2026-06-21
   days on market $359,900 Active 4 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $359,900 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: $4,640 · $387/mo
• Projected year-2 tax: $5,361 · $447/mo
• Expected delta: +$721/yr (+$60/mo · 15.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $32,280
• − Mortgage interest: −$20,160
• − Property taxes: −$4,640
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − Depreciation: −$10,470
• Taxable loss: −$9,954
• Est. tax savings @ 24.0%: +$2,389
• After-tax cash flow: $-1,198/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 of 590 in NY

Livability — Westmere

• Score: 69/100
• State rank: #477
• US rank: #8403

Category grades

Amenities F Commute F Cost of living D- 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: Westmere, NY
• County: Albany County · 196,626 people
• City population: 30,080
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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 (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 2%

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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• 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

+282.9% since first listed

14 events — show timeline

• 2026-06-17 Listed $359,900 Global MLS
• 2010-07-14 Sold (Public Records) $181,500 Public Records
• 2010-07-12 Sold (MLS) $181,500 Global MLS
• 2010-06-15 Listing Removed — Global MLS
• 2010-05-25 Listing Removed — Global MLS
• 2010-05-25 Listed $189,900 Global MLS
• 2010-04-12 Listed $199,900 Global MLS
• 2010-03-05 Sold (MLS) $125,000 Global MLS
• 2010-01-15 Listing Removed — Global MLS
• 2009-12-16 Listed $129,900 Global MLS
• 2000-06-02 Sold (Public Records) $94,000 Public Records
• 2000-05-30 Sold (MLS) $94,000 Global MLS
• 2000-02-26 Listing Removed — Global MLS
• 2000-02-15 Listed $94,000 Global MLS

Property tax history

+2.0%/yr

Latest (2025): $4,640 · +2.3% YoY. Source: county tax records.