2237 Ghents Rd · Rotterdam, NY 12306

$325,000

6 bd · 3.0 ba · 2,772 sqft · MultiFamily public records · 49 Days on market

Built 1950 0.76 ac 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• 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 MLS

Great investment opportunity! 3 family home in Rotterdam, great rent, a must see! Very Good Condition

Key facts

• Mohonasen schools
• Separate utilities
• Windows replaced

Tags

• MOHONASEN SCHOOLS
• SEPARATE UTILITIES
• PRIVATE SETTING
• 2 CAR GARAGE
• WINDOWS REPLACED
• WASHER HOOKUP

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.0% in Rotterdam — 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.

Location & tenants

• Location reads 78/100 on livability (#161 in NY, #2,455 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment B+; Watch: schools D+, crime F.
• Rotterdam-Mohonasen Central School District (suburban): math 48% / reading 56% proficiency, ranked #333 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $5,042/mo this rent would consume 73% of the median local household income ($83k/yr) (locally 629% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $51k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; list at $325k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.55% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.67%
• DSCR: 1.92
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.52×
• Total profit: $47,331
• Equity at exit: $48,459

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $170,475
• Equity at exit: $28,100

Cash invested: $91,000 (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 12306

• Home prices YoY: -23.8%
• Active inventory: 181
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $5,042 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$576 /mo · $6,915/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,059
• Net cashflow: $1,567

Break-even live

Break-even rent $3,058

Max offer price $325,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,043
Total (3 units)			$5,042

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Samuel Ct Schenectady, NY	5.0	3.5	4000	$5,500	$1.38	13d	1	1.38mi

Listing history 26 events

1. 2026-06-18
   days on market $325,000 Active 49 DOM
2. 2026-06-17
   days on market $325,000 Active 48 DOM
3. 2026-06-16
   days on market $325,000 Active 47 DOM
4. 2026-06-15
   days on market $325,000 Active 46 DOM
5. 2026-06-14
   days on market $325,000 Active 44 DOM
6. 2026-06-10
   days on market $325,000 Active 41 DOM
7. 2026-06-09
   days on market $325,000 Active 40 DOM
8. 2026-06-08
   days on market $325,000 Active 39 DOM
9. 2026-06-07
   days on market $325,000 Active 38 DOM
10. 2026-06-03
    status $325,000 Active 34 DOM
11. 2026-03-10
    status Pending
12. 2026-03-04
    status Active
13. 2026-03-04
    price $325,000
14. 2026-01-18
    status Pending
15. 2025-12-20
    listed $375,900 Active
16. 2013-05-13
    soldstatus $165,000
17. 2013-04-09
    soldstatus $165,000 103-char remark

    Show marketing remark (103 chars)

    Great investment opportunity! 3 family home in Rotterdam, great rent, a must see! Very Good Condition

18. 2013-01-21
    historical 103-char remark

    Show marketing remark (103 chars)

    Great investment opportunity! 3 family home in Rotterdam, great rent, a must see! Very Good Condition

19. 2012-10-15
    listed $189,900 103-char remark

    Show marketing remark (103 chars)

    Great investment opportunity! 3 family home in Rotterdam, great rent, a must see! Very Good Condition

20. 2011-10-02
    historical
21. 2011-05-24
    listed $189,900
22. 2010-10-01
    historical
23. 2010-09-17
    listed $179,900
24. 2002-12-10
    soldstatus $86,000
25. 2002-02-01
    soldstatus $78,000
26. 2001-10-03
    listed $86,900

ⓘ 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: $6,915 · $576/mo
• Projected year-2 tax: $6,915 · $576/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 6 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $60,504
• − Mortgage interest: −$18,205
• − Property taxes: −$6,915
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,840
• − Management: −$4,840
• − Depreciation: −$9,455
• Taxable income: $14,624
• Est. tax owed @ 24.0%: −$3,510
• After-tax cash flow: $15,296/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: Rotterdam-Mohonasen Central School District
• NCES district ID: 3600004
• Math proficiency: 48% ▼ -4.00%
• Reading proficiency: 56% ▲ 9.00%
• Median HH income: $59,640
• Composite: 45.34/100
• National rank: #2638
• State rank: #333 of 590 in NY

Livability — Rotterdam

• Score: 78/100
• State rank: #161
• US rank: #2455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Schenectady County · 141,369 people
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 27,865
• Household income: $83,202
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 629.0

Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 7% Lithuanian 5% Iranian 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.35%
• Current HPI: 292.1229
• 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

+274.0% since first listed

16 events — show timeline

• 2026-03-10 Pending — Global MLS
• 2026-03-04 Relisted — Global MLS
• 2026-03-04 Price Changed $325,000 Global MLS
• 2026-01-18 Pending — Global MLS
• 2025-12-20 Listed $375,900 Global MLS
• 2013-05-13 Sold (Public Records) $165,000 Public Records
• 2013-04-09 Sold (MLS) $165,000 Global MLS
• 2013-01-21 Listing Removed — Global MLS
• 2012-10-15 Listed $189,900 Global MLS
• 2011-10-02 Listing Removed — Global MLS
• 2011-05-24 Listed $189,900 Global MLS
• 2010-10-01 Listing Removed — Global MLS
• 2010-09-17 Listed $179,900 Global MLS
• 2002-12-10 Sold (MLS) $86,000 Global MLS
• 2002-02-01 Sold (Public Records) $78,000 Public Records
• 2001-10-03 Listed $86,900 Global MLS

Property tax history

-1.4%/yr

Latest (2025): $6,915 · +1.6% YoY. Source: county tax records.