1 Van Dyke Rd

Albany, NY 12054

$259,900D+

3 bd · 1.0 ba · 1,055 sqft · Built 1960 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,538/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$767
• HOA: −$0
• Vac / Maint / Mgmt: −$533
• Net cashflow: $-126/mo
• Annual: $-1,507/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• 1% rule: 0.98%
• Cash to close: $72,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $260k.
• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (2.4% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $238k (8.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Bethlehem Central School District (suburban): math 70% / reading 74% proficiency, ranked #90 of 590 in NY (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle Elementary School (math 72% / reading 67%, grade A-, #447 of 2,108 statewide, top 24%, 421 students, 10% FRL); Bethlehem Central Senior High School (math 100% / reading 87%, grade A+, #141 of 1,100 statewide, top 13%, 1,364 students, 13% FRL) — zoned schools at 12% FRL track the district average.
• Watch-outs: property tax is 3.0% of price.
• Market conditions: 70 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.

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?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.