15 First Ave · Broadalbin, NY 12025

$250,000

7 bd · 3.0 ba · 4,020 sqft · MultiFamily public records · 35 Days on market

Built 1880 0.25 ac lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

NICE 3 UNIT BUILDING IN THE HEART OF BROADALBIN VILLAGE!!!! PERFECT FOR RENTAL INCOME. UNIT 1 IS 1750 SQ FT WITH 3 BEDROOMS AND 1 BATH. UNIT 2 IS 1650 WITH 3 BEDROOMS 1 BATH AND SUNROOM. UNIT 3 IS 600 SQ FT WITH 1 BEDROOM AND 1 BATH. EACH UNIT HAS ITS OWN WASHER / DRYER HOOKUP. 2 UNITS ARE CURRENTLY OCCUPIED AND OWNER LIVES IN ONE. MUST SEE!!!! Good Condition

Key facts

• Open deck
• Newer roof
• Enclosed porch

Tags

• ENCLOSED PORCH
• WASHER DRYER HOOK UPS
• HARDWOOD FLOORS
• GOOD CABINET SPACE
• OPEN DECK
• NEWER ROOF

Property features AI

Finance

• Financial info: Designed as a 3-unit multi-family property (Triplex); Owner covers water, sewer, and heat; tenants cover electricity

Exterior

• Parking: Paved driveway with space for 6 vehicles
• Utilities: Public water; Public sewer
• Home design: Triplex; Main road frontage of 80 feet
• Construction: Aluminum siding; Shingle/asphalt roof
• Exterior features: Enclosed porch/patio; Level, cleared lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 3 bedrooms (all on 2nd floor); Unit 3: 1 bedroom (on 1st floor)
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: Three full bathrooms total; Unit 1: 1 full bath (1st floor); Unit 2: 1 full bath (2nd floor); Unit 3: 1 full bath (1st floor)
• Heating & cooling: Electric heating; Steam heating
• Interior features: Carpet, hardwood, and laminate flooring; Partial, unfinished basement with interior and exterior entry
• Laundry & utility: Tenants pay electricity; owner pays water, sewer, and heat

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $430/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.6% in Broadalbin — 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 74/100 on livability (#290 in NY, #4,681 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Broadalbin-Perth Central School District (rural): math 50% / reading 62% proficiency, ranked #286 of 590 in NY (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $122k; list at $250k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
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 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: 1.57% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.12%
• DSCR: 1.98
• GRM: 5.3

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: 40.9%
• Equity multiple: 4.12×
• Total profit: $218,434
• Equity at exit: $225,220

10-year hold

• IRR: 35.3%
• Equity multiple: 9.27×
• Total profit: $578,839
• Equity at exit: $485,695

Cash invested: $70,000 (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 12025

• Home prices YoY: 13.4%
• Active inventory: 37
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,914 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$387 /mo · $4,640/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $1,290

Break-even live

Break-even rent $2,281

Max offer price $250,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,694
1× unit	1	1	$1,219
Total (3 units)			$3,914

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-04
   statusdays on market $250,000 Pending 35 DOM
2. 2026-06-02
   days on market $250,000 Contingent 34 DOM
3. 2026-06-01
   statusdays on market $250,000 Contingent 33 DOM
4. 2026-05-31
   days on market $250,000 Active 32 DOM
5. 2026-05-16
   status Active
6. 2026-05-05
   status Pending
7. 2026-04-28
   historical Contingent
8. 2026-04-17
   listed $250,000 Active
9. 2015-05-20
   soldstatus $122,350
10. 2015-05-14
    soldstatus $122,350 367-char remark

    Show marketing remark (367 chars)

    NICE 3 UNIT BUILDING IN THE HEART OF BROADALBIN VILLAGE!!!! PERFECT FOR RENTAL INCOME. UNIT 1 IS 1750 SQ FT WITH 3 BEDROOMS AND 1 BATH. UNIT 2 IS 1650 WITH 3 BEDROOMS 1 BATH AND SUNROOM. UNIT 3 IS 600 SQ FT WITH 1 BEDROOM AND 1 BATH. EACH UNIT HAS ITS OWN WASHER / DRYER HOOKUP. 2 UNITS ARE CURRENTLY OCCUPIED AND OWNER LIVES IN ONE. MUST SEE!!!! Good Condition

11. 2015-03-13
    historical 367-char remark

    Show marketing remark (367 chars)

    NICE 3 UNIT BUILDING IN THE HEART OF BROADALBIN VILLAGE!!!! PERFECT FOR RENTAL INCOME. UNIT 1 IS 1750 SQ FT WITH 3 BEDROOMS AND 1 BATH. UNIT 2 IS 1650 WITH 3 BEDROOMS 1 BATH AND SUNROOM. UNIT 3 IS 600 SQ FT WITH 1 BEDROOM AND 1 BATH. EACH UNIT HAS ITS OWN WASHER / DRYER HOOKUP. 2 UNITS ARE CURRENTLY OCCUPIED AND OWNER LIVES IN ONE. MUST SEE!!!! Good Condition

12. 2015-01-04
    listed $128,900 367-char remark

    Show marketing remark (367 chars)

    NICE 3 UNIT BUILDING IN THE HEART OF BROADALBIN VILLAGE!!!! PERFECT FOR RENTAL INCOME. UNIT 1 IS 1750 SQ FT WITH 3 BEDROOMS AND 1 BATH. UNIT 2 IS 1650 WITH 3 BEDROOMS 1 BATH AND SUNROOM. UNIT 3 IS 600 SQ FT WITH 1 BEDROOM AND 1 BATH. EACH UNIT HAS ITS OWN WASHER / DRYER HOOKUP. 2 UNITS ARE CURRENTLY OCCUPIED AND OWNER LIVES IN ONE. MUST SEE!!!! Good Condition

13. 2010-04-26
    soldstatus $95,400
14. 2004-06-01
    soldstatus $110,000

ⓘ 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: $4,640 · $387/mo
• Projected year-2 tax: $4,640 · $387/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $46,968
• − Mortgage interest: −$14,004
• − Property taxes: −$4,640
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,757
• − Management: −$3,757
• − Depreciation: −$7,273
• Taxable income: $12,286
• Est. tax owed @ 24.0%: −$2,949
• After-tax cash flow: $12,533/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: Broadalbin-Perth Central School District
• NCES district ID: 3600005
• Math proficiency: 50% ▼ -7.00%
• Reading proficiency: 62% ▲ 13.00%
• Median HH income: $55,862
• Composite: 48.28/100
• National rank: #2154
• State rank: #286 of 590 in NY

Livability — Broadalbin

• Score: 74/100
• State rank: #290
• US rank: #4681

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broadalbin, NY
• Population (ZIP): 5,278

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 7% Iranian 5%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Chinese 1% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.87%
• Current HPI: 344.7778
• 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

+127.3% since first listed

10 events — show timeline

• 2026-05-16 Relisted — Global MLS
• 2026-05-05 Pending — Global MLS
• 2026-04-28 Contingent — Global MLS
• 2026-04-17 Listed $250,000 Global MLS
• 2015-05-20 Sold (Public Records) $122,350 Public Records
• 2015-05-14 Sold (MLS) $122,350 Global MLS
• 2015-03-13 Listing Removed — Global MLS
• 2015-01-04 Listed $128,900 Global MLS
• 2010-04-26 Sold (Public Records) $95,400 Public Records
• 2004-06-01 Sold (Public Records) $110,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,640 · +9.7% YoY. Source: county tax records.