3 Agawam Ln · Altamont, NY 12009

$186,000

2 bd · 1.0 ba · 1,488 sqft · SingleFamily public records · 105 Days on market

Built 1800 2.00 ac lot $125/sqft · 57% below area ↓ 5% since listing

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Why this score? — see what drove the B- 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 +21.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.2/10.0
• Schools +5.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits at 3 Agawam Lane in the Village of Altamont! Situated on 2 beautiful, flat and private acres, this 3-bedroom, 1.5-bath home offers incredible potential for the right buyer. The property does require remodeling, making it an ideal opportunity for investors, contractors, or buyers looking to renovate and build equity. Major updates and features include a Generac generator, newer roof (2015), septic system (2008) It has public water, 2 car attached garage and 2 out buildings. The spacious lot provides privacy and room to expand, garden, or simply enjoy the peaceful setting. Located within the highly desirable Guilderland School District and just minutes to village amenities. Bring your vision and unlock the potential this property has to offer!

Key facts

• Private acres
• Generac generator
• Newer roof

Tags

• PRIVATE ACRES
• GENERAC GENERATOR
• NEWER ROOF
• SEPTIC SYSTEM
• PUBLIC WATER
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $186k).
• Recommended offer: $169k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.1% in Altamont — 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 71/100 on livability (#387 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Guilderland Central School District (suburban): math 61% / reading 68% proficiency, ranked #166 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 47 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,260 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (median comp): $434,641
• List price: $186,000
• Delta: -57.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Main St	0.28mi	3/1.5 (+1)	1,606 (+8%)	4mo	$345,000	$215	64
213 Main St	0.20mi	3/2.0 (+1)	1,538 (+3%)	21mo	$325,000	$211	59
149/142 Prospect Ter	0.30mi	3/2.0 (+1)	1,464 (-2%)	23mo	$226,500	$155	56
5 Gregg Rd	0.71mi	2/2.5	1,495 (+0%)	9mo	$365,000	$244	52
3 Sunset Dr	0.49mi	3/2.0 (+1)	1,400 (-6%)	12mo	$430,000	$307	48
50 Whipple Way	0.74mi	3/1.5 (+1)	1,585 (+6%)	11mo	$435,000	$274	39
106 Euclid Ave	0.66mi	3/2.0 (+1)	1,704 (+14%)	5mo	$430,000	$252	31
70 Sanford Pl	0.71mi	3/2.0 (+1)	1,596 (+7%)	17mo	$360,000	$226	31
937 Altamont Voorheesville Rd	0.72mi	3/2.0 (+1)	1,584 (+6%)	23mo	$310,000	$196	28

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: 28.9%
• Equity multiple: 3.29×
• Total profit: $119,102
• Equity at exit: $167,564

10-year hold

• IRR: 25.2%
• Equity multiple: 7.47×
• Total profit: $336,962
• Equity at exit: $361,357

Cash invested: $52,080 (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 12009

• Home prices YoY: 7.0%
• Active inventory: 47
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,083 medium
• Mortgage (P&I): −$975
• Tax from tax record: −$314 /mo · $3,770/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $278

Break-even live

Break-even rent $1,731

Max offer price $186,000

Occupancy floor 82%

Sensitivity live

Price	-10% $384	-5% $331	+0% $278	+5% $226	+10% $173
Rent	-10% $114	-5% $196	+0% $278	+5% $360	+10% $443
Rate	-1.0pp $372	-0.5pp $326	base $278	+0.5pp $230	+1.0pp $181

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: $46,500
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-02
   price $186,000 771-char remark

   Show marketing remark (771 chars)

   Opportunity awaits at 3 Agawam Lane in the Village of Altamont! Situated on 2 beautiful, flat and private acres, this 3-bedroom, 1.5-bath home offers incredible potential for the right buyer. The property does require remodeling, making it an ideal opportunity for investors, contractors, or buyers looking to renovate and build equity. Major updates and features include a Generac generator, newer roof (2015), septic system (2008) It has public water, 2 car attached garage and 2 out buildings. The spacious lot provides privacy and room to expand, garden, or simply enjoy the peaceful setting. Located within the highly desirable Guilderland School District and just minutes to village amenities. Bring your vision and unlock the potential this property has to offer!

2. 2026-02-12
   listed $196,000 Active 771-char remark

   Show marketing remark (771 chars)

   Opportunity awaits at 3 Agawam Lane in the Village of Altamont! Situated on 2 beautiful, flat and private acres, this 3-bedroom, 1.5-bath home offers incredible potential for the right buyer. The property does require remodeling, making it an ideal opportunity for investors, contractors, or buyers looking to renovate and build equity. Major updates and features include a Generac generator, newer roof (2015), septic system (2008) It has public water, 2 car attached garage and 2 out buildings. The spacious lot provides privacy and room to expand, garden, or simply enjoy the peaceful setting. Located within the highly desirable Guilderland School District and just minutes to village amenities. Bring your vision and unlock the potential this property has to offer!

ⓘ 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: $3,770 · $314/mo
• Projected year-2 tax: $3,770 · $314/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $24,992
• − Mortgage interest: −$10,419
• − Property taxes: −$3,770
• − Insurance: −$930
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$5,411
• Taxable income: $463
• Est. tax owed @ 24.0%: −$111
• After-tax cash flow: $3,227/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: Guilderland Central School District
• NCES district ID: 3613080
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $75,669
• Composite: 57.24/100
• National rank: #1093
• State rank: #166 of 590 in NY

Livability — Altamont

• Score: 71/100
• State rank: #387
• US rank: #6655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 8,068
• Population (ZIP): 8,068

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 8% Iranian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Korean 1%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.85%
• Current HPI: 290.1144
• 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

-5.1% since first listed

2 events — show timeline

• 2026-04-02 Price Changed $186,000 Global MLS
• 2026-02-12 Listed $196,000 Global MLS

Property tax history

+15.3%/yr

Latest (2025): $3,770 · +2.2% YoY. Source: county tax records.