11 East St

Schaghticoke, NY 12154

$234,900D

3 bd · 2.0 ba · 1,344 sqft · Built 1991 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,389/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$392
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $-526/mo
• Annual: $-6,314/yr
• Cap rate: 3.60%
• Cash-on-cash: -9.60%
• DSCR: 0.57
• 1% rule: 0.59%
• Cash to close: $65,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (32.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (40.9% below list).
• It's been on market 24 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $139k (40.9% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (8.5% local appreciation)).
• Location reads 63/100 on livability (#813 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, cost of living B+; Watch: employment C-, crime F, amenities F.
• Hoosic Valley Central School District (rural): math 53% / reading 54% proficiency, ranked #304 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hoosic Valley Elementary School (math 47% / reading 57%, grade C-, #988 of 2,108 statewide, top 49%, 459 students, 0% FRL); Hoosic Valley Junior Senior High School (math 62% / reading 52%, grade C, #887 of 1,100 statewide, top 82%, 397 students, 0% FRL) — zoned schools average 0% FRL vs 21% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 16 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 29y 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 $57k; list at $235k implies a 312% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.