10 Leto Rd · Westmere, NY 12203

$299,999

3 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 48 Days on market

Built 1952 9,147 sqft lot $236/sqft · 19% below area Est $377k · 20% under

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Why this score? — see what drove the D 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 +8.5/30.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in one of Albany's most desirable locations within the highly regarded Guilderland Central School District. This 3-bedroom, 2-bath home offers a solid layout and great bones, ready for its next chapter. Featuring hardwood floors and a functional floor plan, this home presents a great chance to bring your vision and make it your own with some updates. Enjoy a spacious backyard, perfect for relaxing, entertaining, or future improvements. Ideally located just seconds from shopping, dining, and major routes, including Crossgates Mall, this property offers convenience and long-term value in a prime setting. A great opportunity in a sought-after area, don't miss it.

Key facts

• Spacious backyard
• Hardwood floors
• 9,147 sq ft lot

Tags

• HARDWOOD FLOORS
• FUNCTIONAL FLOOR PLAN
• SPACIOUS BACKYARD

Property features AI

Exterior

• Parking: 2-car garage; Total parking for 6 vehicles; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Below-grade finished area present
• Construction: Vinyl siding construction
• Exterior features: Shingle roof; Vinyl siding; Back yard fencing; Paved driveway

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator
• Bedrooms: Multiple bedrooms located on the first floor
• Flooring: Tile; Carpet; Hardwood; Linoleum
• Bathrooms: 2 full bathrooms (one on the first floor and one in the basement)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; 11 total rooms; Fireplace in family room
• Laundry & utility: Washer and dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-266 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (17.5% below list).
• Recommended offer: $247k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 4.1% in Westmere — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#477 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F, cost of living D-.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Westmere Elementary School (math 52% / reading 62%, grade C+, #842 of 2,108 statewide, top 43%, 539 students, 26% FRL); Farnsworth Middle School (math 42% / reading 68%, grade B-, #212 of 729 statewide, top 29%, 1,151 students, 24% FRL); Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• This rent runs 36% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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.
• Current owner paid $245k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $247,489 (17.5% 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 48 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
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: 0.82% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• GRM: 10.1

CMA / ARV

• ARV (median comp): $376,785
• List price: $299,999
• Delta: -20.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
499 Church Rd	0.16mi	4/2.5 (+1)	1,160 (-9%)	5mo	$275,000	$237	66
18 Ruth Ter	0.31mi	3/1.5	1,100 (-14%)	18mo	$320,000	$291	46
44 Schoolhouse Rd	0.43mi	3/1.5	1,081 (-15%)	20mo	$295,000	$273	36
10 Oak Dr	0.67mi	3/1.0	1,380 (+8%)	21mo	$375,000	$272	33

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

Projected returns pro-forma

-3.0% appreciation · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.19×
• Total profit: $-68,242
• Equity at exit: $44,731

10-year hold

• IRR: -22.9%
• Equity multiple: -0.10×
• Total profit: $-92,052
• Equity at exit: $25,938

Cash invested: $84,000 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,475 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$523 /mo · $6,272/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-266

Break-even live

Break-even rent $2,811

Max offer price $253,051

Occupancy floor —

Sensitivity live

Price	-10% $-96	-5% $-181	+0% $-266	+5% $-351	+10% $-436
Rent	-10% $-461	-5% $-364	+0% $-266	+5% $-168	+10% $-70
Rate	-1.0pp $-115	-0.5pp $-189	base $-266	+0.5pp $-343	+1.0pp $-423

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 Western Ave Albany, NY	1.0–2.0	1.0–2.0	1438	$2,500	$1.74	16d	1	0.36mi
55 Woodlake Rd Albany, NY	1.0–2.0	1.0–2.0	903	$2,050	$2.27	16d	1	0.36mi
1000 Apex Ln Albany, NY	1.0–3.0	1.0–2.0	1525	$4,175	$2.74	16d	29	0.70mi
416 Greenhill Ct Albany, NY	2.0	1.5	1350	$2,200	$1.63	45d	1	1.02mi
190 Church Rd Albany, NY	3.0	1.0	875	$2,600	$2.97	16d	1	1.07mi
1307 Greenwich Dr Albany, NY	2.0	1.0	1050	$2,000	$1.90	45d	1	1.11mi
1 Dresden Ct Albany, NY	3.0	1.5	1100	$2,650	$2.41	45d	1	1.48mi
62 Homestead St Albany, NY	4.0	2.0	1600	$2,600	$1.62	45d	1	1.48mi

Listing history 20 events

1. 2026-06-21
   days on market $299,999 Active 48 DOM
2. 2026-06-18
   days on market $299,999 Active 45 DOM
3. 2026-06-17
   days on market $299,999 Active 44 DOM
4. 2026-06-16
   days on market $299,999 Active 43 DOM
5. 2026-06-15
   days on market $299,999 Active 42 DOM
6. 2026-06-14
   days on market $299,999 Active 40 DOM
7. 2026-06-10
   days on market $299,999 Active 37 DOM
8. 2026-06-09
   days on market $299,999 Active 36 DOM
9. 2026-06-08
   days on market $299,999 Active 35 DOM
10. 2026-06-07
    days on market $299,999 Active 34 DOM
11. 2026-06-05
    days on market $299,999 Active 31 DOM
12. 2026-06-03
    days on market $299,999 Active 30 DOM
13. 2026-06-02
    days on market $299,999 Active 29 DOM
14. 2026-06-01
    days on market $299,999 Active 28 DOM
15. 2026-05-31
    days on market $299,999 Active 27 DOM
16. 2026-05-31
    days on market $299,999 Active 26 DOM
17. 2026-05-04
    listed $299,999 Active 699-char remark
18. 2012-09-20
    historical
19. 2012-07-09
    listed $219,000
20. 2006-03-31
    soldstatus $245,000

ⓘ 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: $6,272 · $523/mo
• Projected year-2 tax: $6,272 · $523/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 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $29,699
• − Mortgage interest: −$16,805
• − Property taxes: −$6,272
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,376
• − Management: −$2,376
• − Depreciation: −$8,727
• Taxable loss: −$8,357
• Est. tax savings @ 24.0%: +$2,006
• After-tax cash flow: $-1,183/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 of 590 in NY

Livability — Westmere

• Score: 69/100
• State rank: #477
• US rank: #8403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westmere, NY
• County: Albany County · 196,626 people
• City population: 30,080
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• 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

+22.4% since first listed

4 events — show timeline

• 2026-05-04 Listed $299,999 Global MLS
• 2012-09-20 Listing Removed — Global MLS
• 2012-07-09 Listed $219,000 Global MLS
• 2006-03-31 Sold (Public Records) $245,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $6,272 · +2.3% YoY. Source: county tax records.