4132 Rockwell St · Hadley, NY 12835

$184,000

2 bd · 1.0 ba · 1,265 sqft · SingleFamily public records · 273 Days on market

Built 1950 0.72 ac lot $145/sqft · 23% below area Est $239k · 23% under ↓ 5% 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).

• ARV discount +15.0/15.0
• Cash flow +10.0/30.0
• Appreciation +10.0/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks MLS

Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

Key facts

• Outside generator
• Septic 8 years old
• 1000gl concrete tank

Tags

• ORIGINAL PLANK FLOORING
• VAULTED BEAM CEILINGS
• SPACIOUS SCREENED IN PORCH
• OUTSIDE GENERATOR
• SEPTIC 8 YEARS OLD
• 1000GL CONCRETE TANK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (33.3% below list).
• Recommended offer: $123k (33.3% below list) — sets the bar for 1% rule.

Location & tenants

• 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: schools F, amenities F, commute F.
• 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.
• Market conditions: 45 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 $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 273 days — a 12% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $122,734 (33.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 273 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.67% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.57%
• DSCR: 0.89
• GRM: 12.5

CMA / ARV

• ARV (median comp): $239,470
• List price: $184,000
• Delta: -23.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 1st Ave	0.28mi	3/1.5 (+1)	1,232 (-3%)	16mo	$237,000	$192	62
4 Mill St	0.37mi	3/3.0 (+1)	1,170 (-8%)	2mo	$285,000	$244	55
30 Woodard Ave	0.17mi	3/2.0 (+1)	1,440 (+14%)	18mo	$293,000	$203	45
23 Traver St	0.34mi	3/2.0 (+1)	1,150 (-9%)	22mo	$179,900	$156	42
14 3rd Ave	0.54mi	3/1.0 (+1)	1,152 (-9%)	21mo	$179,220	$156	37
11 Bay Rd	0.53mi	3/2.0 (+1)	1,154 (-9%)	22mo	$449,000	$389	34
21 Pine Rd	0.66mi	3/1.0 (+1)	1,445 (+14%)	9mo	$249,000	$172	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 2.81×
• Total profit: $93,092
• Equity at exit: $165,762

10-year hold

• IRR: 20.1%
• Equity multiple: 6.42×
• Total profit: $279,463
• Equity at exit: $357,472

Cash invested: $51,520 (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 12835

• Home prices YoY: 20.0%
• Active inventory: 45
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$965
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-110

Break-even live

Break-even rent $1,367

Max offer price $164,529

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-58	+0% $-110	+5% $-162	+10% $-214
Rent	-10% $-207	-5% $-159	+0% $-110	+5% $-62	+10% $-13
Rate	-1.0pp $-18	-0.5pp $-63	base $-110	+0.5pp $-158	+1.0pp $-206

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $184,000 Active 273 DOM
2. 2026-06-18
   days on market $184,000 Active 271 DOM
3. 2026-06-17
   days on market $184,000 Active 270 DOM
4. 2026-06-16
   days on market $184,000 Active 269 DOM
5. 2026-06-15
   days on market $184,000 Active 268 DOM
6. 2026-06-13
   days on market $184,000 Active 266 DOM
7. 2026-06-12
   days on market $184,000 Active 265 DOM
8. 2026-06-09
   days on market $184,000 Active 262 DOM
9. 2026-06-08
   days on market $184,000 Active 261 DOM
10. 2026-06-07
    days on market $184,000 Active 260 DOM
11. 2026-06-05
    days on market $184,000 Active 258 DOM
12. 2026-06-04
    pricedays on market $184,000 Active 256 DOM
13. 2026-06-02
    days on market $185,000 Active 255 DOM
14. 2026-06-01
    days on market $185,000 Active 254 DOM
15. 2026-05-31
    days on market $185,000 Active 253 DOM
16. 2026-04-20
    price $190,000 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

17. 2026-03-11
    price $195,000 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

18. 2026-01-09
    status Active 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

19. 2025-12-03
    status Active 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

20. 2025-10-29
    status Pending 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

21. 2025-10-29
    historical 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

22. 2025-07-23
    price $196,900 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

23. 2025-07-07
    listed $199,900 Active 611-char remark

    Show marketing remark (611 chars)

    Looking to relax, & enjoy the beautiful Adirondacks with its many lakes? This 2 bed,1 bath ''gem'' of a cottage is waiting for the right buyer, to give it that 'TLC touch'! An all year round home with original plank flooring & vaulted beam ceilings. A spacious screened in porch for entertaining summer nights & making memories! This cottage is located just minutes from Lake Luzerne, The Great Sacandaga and The Hudson River & 20-30 minutes to Lake George and Saratoga. This comes with an outside generator. The septic is 8 years old with a 1000gl concrete tank. Great summer and winter area!

ⓘ 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: $459 · $38/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$1,325/yr (+$110/mo · 288.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 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: $14,728
• − Mortgage interest: −$10,307
• − Property taxes: −$459
• − Insurance: −$920
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$5,353
• Taxable loss: −$4,667
• Est. tax savings @ 24.0%: +$1,120
• After-tax cash flow: $-203/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: Hadley-Luzerne Central School District
• NCES district ID: 3613110
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 57% ▲ 2.00%
• Median HH income: $52,974
• Composite: 42.18/100
• National rank: #3292
• State rank: #396 of 590 in NY

Livability — Hadley

• Score: 60/100
• State rank: #974
• US rank: #19019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hadley, NY
• Population (ZIP): 2,700

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 9% Lithuanian 5% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▲ 54.89%
• Current HPI: 328.7243
• 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

-5.0% since first listed

8 events — show timeline

• 2026-04-20 Price Changed $190,000 Global MLS
• 2026-03-11 Price Changed $195,000 Global MLS
• 2026-01-09 Relisted — Global MLS
• 2025-12-03 Relisted — Global MLS
• 2025-10-29 Pending — Global MLS
• 2025-10-29 Listing Removed — Global MLS
• 2025-07-23 Price Changed $196,900 Global MLS
• 2025-07-07 Listed $199,900 Global MLS

Property tax history

-6.2%/yr

Latest (2025): $459 · +0.1% YoY. Source: county tax records.