15 Werner Rd · Clifton Gardens, NY 12065

$545,000

5 bd · 3.5 ba · 2,540 sqft · MultiFamily public records · 12 Days on market

Built 1972 2.03 ac lot $215/sqft · 24% below area Est $717k · 24% under

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Why this score? — see what drove the C- 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).

• Cash flow +15.5/30.0
• ARV discount +15.0/15.0
• Schools +6.5/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Looking for a single family with not one but two in-law apartments... look no further. Perfect for the multi generational buyer. Located on a sprawling parcel and close to all amenities, this home features it all. The main house, fully renovated features 3 bedrooms, 1.5 bath, all recently remodeled. The lower level features 2 bedrooms, a full kitchen, full bath and living area. The third in-law in the garage, and recently remodeled is a studio apartment. Among other features, this home boasts a new roof, new siding, new electrical, new gutters and so much more

Key facts

• Studio-style area
• Kitchen
• Living area

Tags

• SHENENDEHOWA SCHOOL DISTRICT
• LIVING AREA
• KITCHEN
• FULL BATH
• STUDIO-STYLE AREA
• WORKSPACE

Property features AI

Exterior

• Parking: 2-car garage; Driveway; 10 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2,540 living area
• Construction: Brick and vinyl siding construction
• Exterior features: Other exterior features

Interior

• Kitchen: Gas oven; Range hood; Refrigerator
• Bedrooms: Four bedrooms (two on the first floor, three on the second floor)
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Electric forced-air heating; Central air plus other cooling
• Interior features: 17 total rooms; Apartment-style walk-out basement
• Laundry & utility: Washer and dryer; Laundry rooms on the basement and first floor

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath multifamily listed at $545k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $509k (6.6% below list).
• Recommended offer: $509k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Clifton Gardens — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Shenendehowa Central School District (suburban): math 72% / reading 73% proficiency, ranked #98 of 590 in NY (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Shenendehowa High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 3,036 students, 21% FRL).
• Zoned-school proficiency averages 90% at this address vs 72% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Shenendehowa Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 265 active listings in the ZIP; high-income renter base; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• At $5,088/mo this rent would consume 54% of the median local household income ($114k/yr) (locally 1040% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y 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 $450k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $508,800 (6.6% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (median comp): $717,400
• List price: $545,000
• Delta: -24.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.57×
• Total profit: $-65,339
• Equity at exit: $81,261

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-1,668
• Equity at exit: $47,122

Cash invested: $152,600 (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 12065

• Rents YoY: 4.7%
• Active inventory: 265
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $5,088 medium
• Mortgage (P&I): −$2,858
• Tax from tax record: −$710 /mo · $8,519/yr
• Insurance: −$227
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,068
• Net cashflow: $224

Break-even live

Break-even rent $4,804

Max offer price $545,000

Occupancy floor 91%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,502
1× unit	1	1	$1,587
Total (3 units)			$5,088

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: $136,250
• Closing costs: $16,350
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-13
   status Pending 857-char remark
2. 2026-04-30
   listed $545,000 Active 857-char remark
3. 2022-05-16
   soldstatus $450,000
4. 2022-05-09
   soldstatus $450,000 Closed 567-char remark

   Show marketing remark (567 chars)

   Looking for a single family with not one but two in-law apartments... look no further. Perfect for the multi generational buyer. Located on a sprawling parcel and close to all amenities, this home features it all. The main house, fully renovated features 3 bedrooms, 1.5 bath, all recently remodeled. The lower level features 2 bedrooms, a full kitchen, full bath and living area. The third in-law in the garage, and recently remodeled is a studio apartment. Among other features, this home boasts a new roof, new siding, new electrical, new gutters and so much more

5. 2022-04-02
   status Pending 567-char remark

   Show marketing remark (567 chars)

   Looking for a single family with not one but two in-law apartments... look no further. Perfect for the multi generational buyer. Located on a sprawling parcel and close to all amenities, this home features it all. The main house, fully renovated features 3 bedrooms, 1.5 bath, all recently remodeled. The lower level features 2 bedrooms, a full kitchen, full bath and living area. The third in-law in the garage, and recently remodeled is a studio apartment. Among other features, this home boasts a new roof, new siding, new electrical, new gutters and so much more

6. 2022-03-22
   listed $449,900 Active 567-char remark

   Show marketing remark (567 chars)

   Looking for a single family with not one but two in-law apartments... look no further. Perfect for the multi generational buyer. Located on a sprawling parcel and close to all amenities, this home features it all. The main house, fully renovated features 3 bedrooms, 1.5 bath, all recently remodeled. The lower level features 2 bedrooms, a full kitchen, full bath and living area. The third in-law in the garage, and recently remodeled is a studio apartment. Among other features, this home boasts a new roof, new siding, new electrical, new gutters and so much more

7. 2017-12-13
   soldstatus $235,000
8. 2017-12-07
   soldstatus $235,000 Closed (Final Sale)

   Show marketing remark (316 chars)

   Nature lover's delight...enjoy privacy without compromising location! Country living with conveniences nearby .Plenty of room in this 4 bedroom split level. Hardwood floors. Heated two car detached garage and has plenty of storage along with a room perfect for a musician studio or workshop. Very Good Condition

9. 2017-10-26
   status Pend (Under Cntr)

   Show marketing remark (316 chars)

   Nature lover's delight...enjoy privacy without compromising location! Country living with conveniences nearby .Plenty of room in this 4 bedroom split level. Hardwood floors. Heated two car detached garage and has plenty of storage along with a room perfect for a musician studio or workshop. Very Good Condition

10. 2017-10-13
    price $259,000

    Show marketing remark (316 chars)

    Nature lover's delight...enjoy privacy without compromising location! Country living with conveniences nearby .Plenty of room in this 4 bedroom split level. Hardwood floors. Heated two car detached garage and has plenty of storage along with a room perfect for a musician studio or workshop. Very Good Condition

11. 2017-09-28
    listed $269,900 New

    Show marketing remark (316 chars)

    Nature lover's delight...enjoy privacy without compromising location! Country living with conveniences nearby .Plenty of room in this 4 bedroom split level. Hardwood floors. Heated two car detached garage and has plenty of storage along with a room perfect for a musician studio or workshop. Very Good Condition

12. 2011-10-17
    soldstatus $225,000
13. 2011-09-09
    soldstatus $225,000
14. 2011-07-05
    historical
15. 2010-04-22
    listed $259,900
16. 2010-02-01
    historical
17. 2009-08-04
    listed $275,000

ⓘ 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: $8,519 · $710/mo
• Projected year-2 tax: $8,865 · $739/mo
• Expected delta: +$346/yr (+$29/mo · 4.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,056
• − Mortgage interest: −$30,528
• − Property taxes: −$8,519
• − Insurance: −$2,725
• − Repairs & maintenance: −$4,884
• − Management: −$4,884
• − Depreciation: −$15,855
• Taxable loss: −$6,340
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $4,215/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: Shenendehowa Central School District
• NCES district ID: 3626670
• Math proficiency: 72% ▼ -6.00%
• Reading proficiency: 73% ▲ 3.00%
• Median HH income: $82,933
• Composite: 64.59/100
• National rank: #531
• State rank: #98 of 590 in NY

Livability — Clifton Gardens

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Saratoga County · 166,192 people
• City population: 44,726
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 45,116
• Household income: $113,873
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1040.0

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Asian 7% Two or more races 7% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Italian 2%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 86% English-only · Other Indo-European 4% Russian/Polish/Slavic 2% Spanish 2%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.12%
• Current HPI: 318.0765
• Rent YoY: ▲ 4.65%
• 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

+98.2% since first listed

17 events — show timeline

• 2026-05-13 Pending — Global MLS
• 2026-04-30 Listed $545,000 Global MLS
• 2022-05-16 Sold (Public Records) $450,000 Public Records
• 2022-05-09 Sold (MLS) $450,000 Global MLS
• 2022-04-02 Pending — Global MLS
• 2022-03-22 Listed $449,900 Global MLS
• 2017-12-13 Sold (Public Records) $235,000 Public Records
• 2017-12-07 Sold (MLS) $235,000 Global MLS
• 2017-10-26 Pending — Global MLS
• 2017-10-13 Price Changed $259,000 Global MLS
• 2017-09-28 Listed $269,900 Global MLS
• 2011-10-17 Sold (Public Records) $225,000 Public Records
• 2011-09-09 Sold (MLS) $225,000 Global MLS
• 2011-07-05 Listing Removed — Global MLS
• 2010-04-22 Listed $259,900 Global MLS
• 2010-02-01 Listing Removed — Global MLS
• 2009-08-04 Listed $275,000 Global MLS

Property tax history

+6.1%/yr

Latest (2025): $8,519 · +3.8% YoY. Source: county tax records.