545 Route 67

Round Lake, NY 12118

$399,777D

5 bd · 3.0 ba · 3,312 sqft · Built 1845 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,462/mo
• Mortgage (P&I): −$2,096
• Tax + insurance: −$340
• HOA: −$0
• Vac / Maint / Mgmt: −$517
• Net cashflow: $-492/mo
• Annual: $-5,899/yr
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• 1% rule: 0.62%
• Cash to close: $111,938

Investor read

• This is a 5-bed/3.0-bath single-family listed at $400k.
• At list price, monthly cash flow is $-492 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (38.4% below list).
• It's been on market 37 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (38.4% below list) — sets the bar for 1% rule.
• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 76/100 on livability (#236 in NY, #3,708 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Shenendehowa Central School District (suburban): math 72% / reading 73% proficiency, ranked #98 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Shenendehowa High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 3,036 students, 21% FRL).
• Zoned-school proficiency averages 90% at this address vs 72% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Shenendehowa Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1845 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 144 active listings in the ZIP; solid renter incomes; 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.
• 6 sale attempts since 10y 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.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.8% vs local median 2.2% in Round Lake — 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.
• This rent runs 32% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Built in 1845 — 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 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.