76 1st St

Hoosick Falls, NY 12090

$89,000A-

3 bd · 1.0 ba · 927 sqft · Built 1890 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $372/mo
• Annual: $4,462/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.91%
• DSCR: 1.80
• 1% rule: 1.58%
• Cash to close: $24,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 28 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($615 loan paydown + $908 appreciation (1.0% local appreciation)).
• Location reads 72/100 on livability (#371 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Hoosick Falls Central School District (rural): math 52% / reading 46% proficiency, ranked #469 of 755 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hoosick Falls Elementary School (math 54% / reading 64%, grade B-, #745 of 2,108 statewide, top 39%, 398 students, 53% FRL); Hoosick Falls High School (math 87% / reading 82%, grade A, #379 of 1,100 statewide, top 36%, 329 students, 51% FRL) — zoned schools average 52% FRL vs 35% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 72% at this address vs 49% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Hoosick Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 3.2% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 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.
• 3 sale attempts since 28y 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 $66k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 11.3% vs local median 4.7% in Hoosick Falls — 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.

Questions for listing agent

• Built in 1890 — 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.
• 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.