105 Hartman Rd · Mariaville Lake, NY 12010

$159,900

5 bd · 4.0 ba · 3,526 sqft · MultiFamily public records · 49 Days on market

Built 1880 1.60 ac lot

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Why this score? — see what drove the F 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
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• 1% rule +0.0/10.0
• DSCR +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

This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

Key facts

• In-ground pool
• Bubbling brook
• Pool house

Tags

• ITALIAN MANSION
• BUBBLING BROOK
• IN-GROUND POOL
• POOL HOUSE
• EXPANDED COVERED FRONT PORCH
• LARGE SHED

Property features AI

Exterior

• Parking: Attached garage (3 spaces); Total parking for about 5 vehicles; Off-street parking
• Security: Security system
• Utilities: Septic tank; Cistern water source
• Home design: Single family residence; Under construction / fixer condition; Combination foundation; Metal and shingle roof
• Construction: Aluminum and wood siding
• Exterior features: Covered front porch and additional porch; Patio; Pool house, shed(s), storage and workshop; Outdoor in-ground pool; Views and wooded areas; Corner and irregular lot with road frontage; Swamp waterfront feature

Interior

• Kitchen: Partially redone kitchen (first floor); Additional kitchens on the first and second floors
• Bedrooms: Multiple bedrooms located on the first and second floors; Additional bedroom on the second floor
• Flooring: Wood floors
• Bathrooms: Four full bathrooms and one half bathroom; Full and half baths located on the first and second floors
• Interior features: Wood flooring throughout; Full basement with interior entry; Security system; Fireplace in the living room (wood burning)
• Laundry & utility: Basement offers interior access for utilities/storage

🏗️ New construction. The $159,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $538,397.

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 48/100 on livability (#1,178 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment F.
• Amsterdam City School District (town): math 35% / reading 41% proficiency, ranked #546 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 78% at this address vs 38% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Amsterdam City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 164 active listings in the ZIP; 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $65k; list at $160k implies a 146% 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 $155,103 (3.0% 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. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 0.34% ✗
• Cap rate: 2.18%
• Cash-on-cash: -14.68%
• DSCR: 0.35
• GRM: 24.6

CMA / ARV

• ARV (median comp): $538,397
• List price: $159,900
• Delta: -70.30%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.1%
• Equity multiple: 2.16×
• Total profit: $175,555
• Equity at exit: $485,031

10-year hold

• IRR: 14.0%
• Equity multiple: 5.04×
• Total profit: $608,853
• Equity at exit: $1,045,987

Cash invested: $150,751 (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 12010

• Home prices YoY: 4.0%
• Active inventory: 164
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,827 medium
• Mortgage (P&I): −$2,823
• Tax from tax record: −$240 /mo · $2,877/yr
• Insurance: −$224
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-1,844

Break-even live

Break-even rent $4,161

Max offer price $212,684

Occupancy floor —

Sensitivity live

Price	-10% $-1,539	-5% $-1,691	+0% $-1,844	+5% $-1,996	+10% $-2,149
Rent	-10% $-1,988	-5% $-1,916	+0% $-1,844	+5% $-1,772	+10% $-1,699
Rate	-1.0pp $-1,573	-0.5pp $-1,707	base $-1,844	+0.5pp $-1,983	+1.0pp $-2,125

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: $134,599
• Closing costs: $16,152
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $159,900 Active 49 DOM
2. 2026-06-17
   days on market $159,900 Active 48 DOM
3. 2026-06-16
   days on market $159,900 Active 47 DOM
4. 2026-06-15
   days on market $159,900 Active 46 DOM
5. 2026-06-14
   days on market $159,900 Active 44 DOM
6. 2026-06-13
   days on market $159,900 Active 43 DOM
7. 2026-06-10
   days on market $159,900 Active 41 DOM
8. 2026-06-09
   days on market $159,900 Active 40 DOM
9. 2026-06-08
   days on market $159,900 Active 39 DOM
10. 2026-06-07
    days on market $159,900 Active 38 DOM
11. 2026-06-03
    days on market $159,900 Active 34 DOM
12. 2026-06-02
    days on market $159,900 Active 33 DOM
13. 2026-06-01
    days on market $159,900 Active 32 DOM
14. 2026-05-31
    days on market $159,900 Active 31 DOM
15. 2026-05-31
    days on market $159,900 Active 30 DOM
16. 2026-04-29
    listed $159,900 Active 1344-char remark
17. 2025-03-24
    historical
18. 2025-02-20
    listed $242,860 Active
19. 2023-04-07
    soldstatus $65,100 Closed

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

20. 2023-03-29
    status Pending

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

21. 2023-03-02
    status Pending

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

22. 2023-02-24
    price $59,900

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

23. 2023-01-23
    price $69,900

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

24. 2023-01-09
    status Active

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

25. 2022-12-31
    status Pending

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

26. 2022-12-20
    price $79,900

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

27. 2022-11-15
    price $89,900

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

28. 2022-10-11
    price $99,900

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

29. 2022-09-08
    listed $112,500 Active

    Show marketing remark (359 chars)

    This is a Fannie Mae Homepath property which is zoned a 2 family but has 3 units. This property sits on 1.6 acres and features 5 total bedroom, 4 full bathrooms, wood fireplace, huge 3 car attached garage, enclosed porch, covered porch, in ground pool, pool shed, off street parking and has a stream that runs the entire length of the property. EZ 2C anytime!

ⓘ 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: $2,877 · $240/mo
• Projected year-2 tax: $2,877 · $240/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: $21,929
• − Mortgage interest: −$30,159
• − Property taxes: −$2,877
• − Insurance: −$2,692
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$15,662
• Taxable loss: −$32,969
• Est. tax savings @ 24.0%: +$7,913
• After-tax cash flow: $-14,213/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: Amsterdam City School District
• NCES district ID: 3602970
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 41% ▲ 10.00%
• Median HH income: $41,735
• Composite: 32.03/100
• National rank: #5824
• State rank: #546 of 590 in NY

Livability — Mariaville Lake

• Score: 48/100
• State rank: #1178
• US rank: #26007

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 27,339

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 48,683 people
• By 2030: 47,785 · -1.8%
• By 2040: 45,492 · -6.6%
• By 2050: 43,161 · -11.3%
• By 2075: 38,134 · -21.7%
• By 2100: 32,337 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 23% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 18%
• Common ancestry: Romanian 12% Lithuanian 2% Iranian 2%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 11% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Strong R (+28.7) · D 35.6% · R 64.4%
• 2008→2024 swing: -20.6pp toward R · 2008: -8.1pp · 2024: -28.7pp
• All cycles: 2024: R+28.7 2020: R+22.6 2016: R+26.5 2012: R+4.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.12%
• Current HPI: 312.4966
• 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

+42.1% since first listed

14 events — show timeline

• 2026-04-29 Listed $159,900 Global MLS
• 2025-03-24 Listing Removed — Global MLS
• 2025-02-20 Listed $242,860 Global MLS
• 2023-04-07 Sold (MLS) $65,100 Global MLS
• 2023-03-29 Pending — Global MLS
• 2023-03-02 Pending — Global MLS
• 2023-02-24 Price Changed $59,900 Global MLS
• 2023-01-23 Price Changed $69,900 Global MLS
• 2023-01-09 Relisted — Global MLS
• 2022-12-31 Pending — Global MLS
• 2022-12-20 Price Changed $79,900 Global MLS
• 2022-11-15 Price Changed $89,900 Global MLS
• 2022-10-11 Price Changed $99,900 Global MLS
• 2022-09-08 Listed $112,500 Global MLS

Property tax history

-5.2%/yr

Latest (2025): $2,877 · -4.9% YoY. Source: county tax records.