1231 County Highway 126 #4

Hagaman, NY 12010

$220,000D

3 bd · 2.5 ba · 1,575 sqft · Built 1985 · Townhouse · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,739/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$385
• HOA: −$35
• Vac / Maint / Mgmt: −$365
• Net cashflow: $-200/mo
• Annual: $-2,401/yr
• Cap rate: 5.20%
• Cash-on-cash: -3.90%
• DSCR: 0.83
• 1% rule: 0.79%
• Cash to close: $61,600

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $220k.
• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (16.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (20.9% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $174k (20.9% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#534 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, housing A, health & safety A; Watch: amenities F, commute F.
• Amsterdam City School District (town): math 35% / reading 41% proficiency, ranked #546 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wilbur H Lynch Literacy Academy (math 9% / reading 37%, grade F, #646 of 729 statewide, top 89%, 817 students, 75% FRL); Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 71% FRL vs 40% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 51% at this address vs 38% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Amsterdam City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 165 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y 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 $190k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.