99 Railroad Ave

Hoosick Falls, NY 12090

$250,000C+

6 bd · 2.0 ba · 1,920 sqft · Built 1870 · MultiFamily · Active · 206 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,832/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$414
• HOA: −$0
• Vac / Maint / Mgmt: −$595
• Net cashflow: $513/mo
• Annual: $6,151/yr
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $70,000

Investor read

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $250k.
• At list price, monthly cash flow is $513 ($6k/yr) — positive. Per door: $256/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• It's been on market 206 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($2k loan paydown + $3k appreciation (1.0% local appreciation)).
• Location reads 72/100 on livability (#371 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Hoosick Falls Central School District (rural): math 52% / reading 46% proficiency, ranked #469 of 755 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $35k; list at $250k implies a 614% gain — meaningful room to come down on a strong offer.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.8% vs local median 4.7% in Hoosick Falls — 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.

Questions for listing agent

• It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.