340 Wilton Rd · Saratoga Springs, NY 12833

$389,900

4 bd · 2.0 ba · 1,808 sqft · MultiFamily public records · 7 Days on market

Built 1998 4.10 ac lot ↓ 3% since listing

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Why this score? — see what drove the C- 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 +14.6/30.0
• Appreciation +9.3/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• DSCR +4.5/10.0
• Livability +4.1/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Showings begin Fri 6/12. Open House: Sun 6/14 from 12-2. Opportunity awaits with this beautifully updated home perfect for an in-law set on over 4 private, acres in Greenfield and located within the highly sought-after Saratoga Springs School District. Ideal for investors, multigenerational living, or owner-occupants looking to offset their mortgage with rental income, this versatile property offers exceptional flexibility and value. The home features a spacious 2-bedroom, 1-bath unit and a comfortable 1-bedroom, 1-bath unit, both showcasing updated flooring and open-concept living spaces. Recent improvements provide peace of mind, including a new roof (2021), new boiler, water filtration and softener system, mini-split air conditioning in the 2-bedroom unit, and a reverse osmosis water system. An oversized garage offers abundant storage, workshop space, or room for recreational equipment. Enjoy the privacy and tranquility of country living while being just 10 minutes from downtown Saratoga Springs, shopping, dining, and entertainment. A rare opportunity combining acreage, updates, income potential, and an unbeatable location.

Key facts

• Private acres
• New boiler
• Updated home

Tags

• UPDATED HOME
• PRIVATE ACRES
• UPDATED FLOORING
• OPEN-CONCEPT LIVING SPACES
• NEW ROOF
• NEW BOILER

Property features AI

Exterior

• Parking: Attached garage with 3 parking spaces; Room for up to 10 total vehicles; Off-street parking, driveway, circular driveway
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Septic tank; Cable connected
• Home design: Single family residence; Entry and main living on the first floor
• Construction: Vinyl siding; Shingle/asphalt roof; Slab foundation; Built living area approximately 1,808 (as reported)
• Exterior features: Patio; Secluded, level, wooded and landscaped lot

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Multiple first-floor bedrooms
• Flooring: Vinyl; Ceramic tile
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Baseboard heating; Electric heating; Hot water heating; Oil heating; Ductless cooling
• Interior features: Paddle fan; Solid surface counters; French doors
• Laundry & utility: Washer and dryer; Laundry on the main/first level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (15.6% below list).
• Recommended offer: $329k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.0% in Saratoga Springs — 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 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: amenities D+, cost of living F.
• Saratoga Springs City SD (suburban): math 67% / reading 72% proficiency, ranked #138 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Greenfield Elementary School (math 72% / reading 77%, grade A, #314 of 2,108 statewide, top 17%, 406 students, 36% FRL); Saratoga Springs High School (math 98% / reading 92%, grade A+, #83 of 1,100 statewide, top 8%, 1,947 students, 26% FRL) — zoned schools average 31% FRL vs 15% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 85% at this address vs 70% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Saratoga Springs City SD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 47 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($3k loan paydown + $34k appreciation (8.7% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.7% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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.

Recommended offer $329,200 (15.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 0.84% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.68×
• Total profit: $183,941
• Equity at exit: $314,813

10-year hold

• IRR: 20.2%
• Equity multiple: 5.86×
• Total profit: $530,641
• Equity at exit: $643,521

Cash invested: $109,172 (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 12833

• Home prices YoY: 2.6%
• Active inventory: 47
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,292 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$301 /mo · $3,609/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $93

Break-even live

Break-even rent $3,175

Max offer price $389,900

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,697
1× unit	1	1	$1,595
Total (2 units)			$3,292

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-16
   statusdays on market $389,900 Pending 7 DOM
2. 2026-06-15
   days on market $389,900 Active 6 DOM
3. 2026-06-14
   days on market $389,900 Active 4 DOM
4. 2026-06-13
   days on market $389,900 Active 3 DOM
5. 2026-06-10
   remarks 699-char remark
6. 2026-06-10
   listed $389,900 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: $3,609 · $301/mo
• Projected year-2 tax: $5,099 · $425/mo
• Expected delta: +$1,490/yr (+$124/mo · 41.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $39,504
• − Mortgage interest: −$21,840
• − Property taxes: −$3,609
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,160
• − Management: −$3,160
• − Depreciation: −$11,343
• Taxable loss: −$5,558
• Est. tax savings @ 24.0%: +$1,334
• After-tax cash flow: $2,448/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: Saratoga Springs City SD
• NCES district ID: 3625770
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $69,864
• Composite: 60.83/100
• National rank: #818
• State rank: #138 of 590 in NY

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 40,057
• Population (ZIP): 5,368

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Asian 1% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.69%
• Current HPI: 347.631
• Rent YoY: —
• Metro: —
• 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

-2.5% since first listed

4 events — show timeline

• 2026-06-09 Listed $389,900 Global MLS
• 2026-06-09 Listed $389,900 Global MLS
• 2024-08-13 Listing Removed — Global MLS
• 2024-08-01 Listed $399,900 Global MLS

Property tax history

+2.4%/yr

Latest (2025): $3,609 · -4.6% YoY. Source: county tax records.