59 Daketown Rd

Saratoga Springs, NY 12833

$319,900D

3 bd · 1.5 ba · 1,176 sqft · Built 1994 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,943/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$402
• HOA: −$0
• Vac / Maint / Mgmt: −$408
• Net cashflow: $-545/mo
• Annual: $-6,537/yr
• Cap rate: 4.25%
• Cash-on-cash: -7.30%
• DSCR: 0.68
• 1% rule: 0.61%
• Cash to close: $89,572

Investor read

• This is a 3-bed/1.5-bath single-family listed at $320k.
• At list price, monthly cash flow is $-545 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (30.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (39.3% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $194k (39.3% below list) — sets the bar for 1% rule.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (8.7% local appreciation)).
• 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).
• 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 ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.2% 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.