1704 Warners Lake Rd · Altamont, NY 12009

$299,900

3 bd · 1.0 ba · 1,276 sqft · SingleFamily public records · 6 Days on market

Built 1974 2.60 ac lot

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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).

• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.1/10.0

Listing remarks MLS

SOLD BEFORE PRINT -- Superior Condition

Key facts

• Expansive lot
• One-story living
• Outdoor space

Tags

• ONE-STORY LIVING
• OUTDOOR SPACE
• ABOVE-GROUND POOL
• MAJOR UPDATES
• EXPANSIVE LOT

Property features AI

Exterior

• Parking: Attached 2-car garage; Total parking for 6 vehicles; Off-street paved parking and driveway
• Utilities: Septic tank
• Home design: Single family residence; Updated / remodeled
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Deck; Paved driveway; Exterior lighting; Above-ground pool; Landscaped, level lot (2.6 acres)

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: Primary bedroom on first floor; Two additional bedrooms on first floor
• Flooring: Wood floors; Ceramic tile
• Bathrooms: One full bathroom on first floor
• Heating & cooling: Oil heating
• Interior features: High-speed internet; Paddle ceiling fan; Solid surface counters; Ceramic tile bath; Sliding doors
• Laundry & utility: Laundry in basement; Full unfinished basement with interior entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (26.3% below list).
• Recommended offer: $221k (26.3% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.9% in Altamont — 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.

Location & tenants

• Location reads 71/100 on livability (#387 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Berne-Knox-Westerlo Central School District (rural): math 54% / reading 57% proficiency, ranked #275 of 590 in NY (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Berne-Knox-Westerlo Elementary School (math 57% / reading 62%, grade B-, #745 of 2,108 statewide, top 39%, 371 students, 34% FRL); Berne-Knox-Westerlo Junior-Senior High School (math 52% / reading 52%, grade D+, #946 of 1,100 statewide, top 88%, 320 students, 32% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 48 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $140k; list at $300k implies a 114% gain — meaningful room to come down on a strong offer.

Recommended offer $221,003 (26.3% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.2%
• Equity multiple: 2.71×
• Total profit: $143,884
• Equity at exit: $270,174

10-year hold

• IRR: 19.2%
• Equity multiple: 6.23×
• Total profit: $439,066
• Equity at exit: $582,640

Cash invested: $83,972 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 48
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,210 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$354 /mo · $4,248/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-306

Break-even live

Break-even rent $2,597

Max offer price $245,896

Occupancy floor —

Sensitivity live

Price	-10% $-136	-5% $-221	+0% $-306	+5% $-391	+10% $-475
Rent	-10% $-480	-5% $-393	+0% $-306	+5% $-218	+10% $-131
Rate	-1.0pp $-155	-0.5pp $-229	base $-306	+0.5pp $-383	+1.0pp $-462

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-17
   status $299,900 Pending 6 DOM
2. 2026-06-16
   days on market $299,900 Active 6 DOM
3. 2026-06-15
   days on market $299,900 Active 5 DOM
4. 2026-06-13
   days on market $299,900 Active 3 DOM
5. 2026-06-12
   remarks 662-char remark
6. 2026-06-12
   listed $299,900 Active 2 DOM

ⓘ 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: $4,248 · $354/mo
• Projected year-2 tax: $4,658 · $388/mo
• Expected delta: +$410/yr (+$34/mo · 9.7%)

ⓘ 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 2/10 Low 5 d/yr ≥91°F today · 11 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $26,520
• − Mortgage interest: −$16,799
• − Property taxes: −$4,248
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$8,724
• Taxable loss: −$8,993
• Est. tax savings @ 24.0%: +$2,158
• After-tax cash flow: $-1,510/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: Berne-Knox-Westerlo Central School District
• NCES district ID: 3604650
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 57% ▲ 3.00%
• Median HH income: $68,684
• Composite: 49.13/100
• National rank: #2046
• State rank: #275 of 590 in NY

Livability — Altamont

• Score: 71/100
• State rank: #387
• US rank: #6655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 8,068
• Population (ZIP): 8,068

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 (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 1%

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: ▲ 18.85%
• Current HPI: 290.1144
• 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

+122.3% since first listed

5 events — show timeline

• 2026-06-10 Listed $299,900 Global MLS
• 2003-11-17 Sold (Public Records) $139,900 Public Records
• 2003-09-25 Sold (MLS) $139,500 Global MLS
• 2003-07-02 Listing Removed — Global MLS
• 2003-07-02 Listed $134,900 Global MLS

Property tax history

+0.7%/yr

Latest (2025): $4,248 · -0.8% YoY. Source: county tax records.