32 Milton Ave · Amsterdam, NY 12010

$91,000

6 bd · 2.0 ba · 2,392 sqft · MultiFamily public records

Built 1900 4,356 sqft lot ↓ 2% since listing

---

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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

This home can also be purchased with 34 Milton Avenue. Newer roof, always maintained, off strret parking and a two bay garage. Good Condition

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $91k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $91k).
• Cap rate 42.7% vs local median 6.3% in Amsterdam — 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 75/100 on livability (#247 in NY, #3,884 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime 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 $10k of equity ($629 loan paydown + $9k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,000

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 4.82% ✓
• Cap rate: 42.69%
• Cash-on-cash: 130.01%
• DSCR: 6.78
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $205,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Van Derveer St	0.07mi	6/2.0	2,300 (-4%)	1mo	$148,000	$64	90
17-19 Brookside Ave	0.25mi	5/2.0 (-1)	2,400 (+0%)	2mo	$135,000	$56	82
38 Milton Ave	0.04mi	6/2.0	2,148 (-10%)	2mo	$211,400	$98	79
211 Forest Ave	0.31mi	6/2.0	2,225 (-7%)	1mo	$190,000	$85	73
225 Church St	0.45mi	6/2.0	2,328 (-3%)	5mo	$215,000	$92	71
36 Hibbard St	0.54mi	6/2.0	2,406 (+1%)	4mo	$224,000	$93	70
17 Hawk St	0.51mi	6/2.0	2,296 (-4%)	2mo	$198,000	$86	68
45 Pulaski St	0.55mi	6/2.0	2,348 (-2%)	5mo	$242,500	$103	68
6 Blood St	0.49mi	6/2.0	2,535 (+6%)	4mo	$85,000	$34	64
10 4th St	0.67mi	6/2.0	2,460 (+3%)	0mo	$220,000	$89	64
20 Lincoln Ave	0.45mi	5/2.0 (-1)	2,656 (+11%)	2mo	$200,000	$75	54
58 Lincoln Ave	0.66mi	6/2.0	2,726 (+14%)	4mo	$215,000	$79	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.85×
• Total profit: $225,487
• Equity at exit: $81,980

10-year hold

• IRR: —
• Equity multiple: 21.64×
• Total profit: $525,986
• Equity at exit: $176,793

Cash invested: $25,480 (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: 5.2×

Monthly cashflow live

• Estimated rent: $4,384 high
• Mortgage (P&I): −$477
• Tax from tax record: −$188 /mo · $2,253/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$921
• Net cashflow: $2,760

Break-even live

Break-even rent $890

Max offer price $91,000

Occupancy floor 32%

Sensitivity live

Price	-10% $2,812	-5% $2,786	+0% $2,760	+5% $2,735	+10% $2,709
Rent	-10% $2,414	-5% $2,587	+0% $2,760	+5% $2,934	+10% $3,107
Rate	-1.0pp $2,806	-0.5pp $2,784	base $2,760	+0.5pp $2,737	+1.0pp $2,713

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,383
Total (3 units)			$4,384

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2023-03-29
   status Pending
2. 2022-03-24
   soldstatus $89,500
3. 2022-01-06
   status Pending
4. 2021-12-14
   historical
5. 2021-12-13
   listed $91,000 Active
6. 2021-09-08
   status Pend (Under Cntr)
7. 2021-05-16
   listed $91,000 New

ⓘ 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: $2,253 · $188/mo
• Projected year-2 tax: $2,253 · $188/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,608
• − Mortgage interest: −$5,097
• − Property taxes: −$2,253
• − Insurance: −$455
• − Repairs & maintenance: −$4,209
• − Management: −$4,209
• − Depreciation: −$2,647
• Taxable income: $33,738
• Est. tax owed @ 24.0%: −$8,097
• After-tax cash flow: $25,028/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 — Amsterdam

• Score: 75/100
• State rank: #247
• US rank: #3884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amsterdam, NY
• City population: 27,339
• 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

-1.6% since first listed

7 events — show timeline

• 2023-03-29 Pending — Global MLS
• 2022-03-24 Sold (Public Records) $89,500 Public Records
• 2022-01-06 Pending — Global MLS
• 2021-12-14 Listing Removed — Global MLS
• 2021-12-13 Listed $91,000 Global MLS
• 2021-09-08 Pending — Global MLS
• 2021-05-16 Listed $91,000 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $2,253 · -5.4% YoY. Source: county tax records.