10 Woodard Ave

Hadley, NY 12835

$108,000B

3 bd · 2.0 ba · 1,352 sqft · Built 1870 · SingleFamily · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,369/mo
• Mortgage (P&I): −$566
• Tax + insurance: −$241
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $274/mo
• Annual: $3,291/yr
• Cap rate: 9.34%
• Cash-on-cash: 10.88%
• DSCR: 1.48
• 1% rule: 1.27%
• Cash to close: $30,240

Investor read

• This is a 3-bed/2.0-bath single-family listed at $108k.
• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• It's been on market 33 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($747 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#974 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B; Watch: amenities F, commute F, health & safety D-.
• Hadley-Luzerne Central School District (rural): math 41% / reading 57% proficiency, ranked #396 of 590 in NY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stuart M Townsend Elementary School (math 27% / reading 47%, grade F, #1,519 of 2,108 statewide, top 74%, 340 students, 52% FRL); Hadley-Luzerne Junior-Senior High School (math 62% / reading 67%, grade B-, #776 of 1,100 statewide, top 73%, 304 students, 54% FRL).
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $27k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.