348-350 Locust Ave · Amsterdam, NY 12010

$249,000

6 bd · 3.0 ba · 2,620 sqft · MultiFamily · 10 Days on market

Built 1896 Good condition 7,405 sqft lot $95/sqft · 8% below area Est $270k · 8% under

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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 +26.6/30.0
• ARV discount +11.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks MLS

Prime location Amsterdam 3 family close to schools, restaurants and shopping. 1st FLOOR UNIT spans 1,310 sqft w/ 3 BR/1.5 BA, Large LR & DR; 2nd FLOOR UNIT w/ 2 BR/1BA; 3rd FLOOR UNIT w/ 1 BR/1BA. Good tenants in place below market rate. Total rents $2,500 cd grow to $3,100. Landlord pays heat but venting in place to add 2 HVAC systems for separate meters each unit. Aluminum siding, front and enclosed porches, natural gas. Driveway, garage. Live here for free and tenant pay freight or take it over for income generation. **OPEN HOUSE Sunday 4/16 from 1pm - 3pm**

Key facts

• Three unit property
• Off street parking
• Marble countertops

Tags

• THREE UNIT PROPERTY
• OFF STREET PARKING
• UPDATED KITCHENS
• MARBLE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• DURABLE VINYL FLOORING

Property features AI

Finance

• Financial info: Three-unit property; Tenants pay heat, gas and electricity

Exterior

• Parking: Parking for 4 vehicles; Paved parking
• Security: Security features present
• Utilities: Public water; Public sewer; 150 Amp electric service
• Home design: Triplex; Aluminum siding; Shingle roof; Other foundation
• Construction: Aluminum siding construction; Shingle roof; Other foundation
• Exterior features: Front porch; Backyard fencing; Road frontage

Interior

• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 2 bedrooms (2nd floor); Unit 3: 1 bedroom
• Flooring: Vinyl flooring; Hardwood flooring
• Bathrooms: Three full bathrooms (two on 1st floor, one on 2nd floor); Unit 1: 2 full baths; Unit 2: 1 full bath; Unit 3: 1 full bath
• Heating & cooling: Forced-air heating; Natural gas
• Interior features: Vinyl and hardwood flooring; Full basement; Fireplace

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $249k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive. Per door: $332/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Cap rate 9.5% 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: Wilbur H Lynch Literacy Academy (math 9% / reading 37%, grade F, #646 of 729 statewide, top 89%, 817 students, 75% FRL); Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 71% FRL vs 40% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 51% at this address vs 38% district-wide (+13 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: 165 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 $27k of equity ($2k loan paydown + $25k 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 $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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $249k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1896 — 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. 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?
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: 1.21% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $269,801
• List price: $249,000
• Delta: -7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
387-389 Locust Ave	0.09mi	7/3.0 (+1)	2,490 (-5%)	8mo	$140,000	$56	76
232-234 Locust Ave	0.33mi	6/2.0	2,620 (0%)	7mo	$195,000	$74	75
356-358 Locust Ave	0.02mi	6/2.0	2,346 (-10%)	11mo	$175,000	$75	69
10 4th St	0.36mi	6/2.0	2,460 (-6%)	1mo	$220,000	$89	68
249 Forest Ave	0.56mi	5/3.0 (-1)	2,590 (-1%)	13mo	$175,000	$68	56
22 Cochrane Ave	0.57mi	6/2.0	2,600 (-1%)	23mo	$229,000	$88	49
7 Romeyn Ave	0.64mi	6/2.0	2,772 (+6%)	14mo	$155,000	$56	44
70-72 Elizabeth St	0.75mi	6/2.0	2,490 (-5%)	12mo	$90,000	$36	43
9 Mcclellan Ave	0.70mi	6/2.0	2,562 (-2%)	24mo	$180,000	$70	40
17 Pleasant Ave	0.43mi	5/2.0 (-1)	2,888 (+10%)	23mo	$220,000	$76	34

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: 32.7%
• Equity multiple: 3.55×
• Total profit: $177,912
• Equity at exit: $224,319

10-year hold

• IRR: 28.2%
• Equity multiple: 8.04×
• Total profit: $490,784
• Equity at exit: $483,752

Cash invested: $69,720 (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: 165
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,018 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $663

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 73%

Sensitivity live

Price	-10% $836	-5% $749	+0% $663	+5% $577	+10% $491
Rent	-10% $425	-5% $544	+0% $663	+5% $783	+10% $902
Rate	-1.0pp $789	-0.5pp $727	base $663	+0.5pp $599	+1.0pp $533

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,018
Total (2 units)			$3,018

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-13
   price $249,000 1691-char remark
2. 2026-05-13
   listed $269,000 Active 1691-char remark
3. 2025-01-16
   historical
4. 2024-12-26
   price $160,000
5. 2024-12-25
   price $140,000
6. 2024-11-03
   listed $165,000 Active
7. 2023-09-06
   soldstatus $125,000 Closed

   Show marketing remark (572 chars)

   Prime location Amsterdam 3 family close to schools, restaurants and shopping. 1st FLOOR UNIT spans 1,310 sqft w/ 3 BR/1.5 BA, Large LR & DR; 2nd FLOOR UNIT w/ 2 BR/1BA; 3rd FLOOR UNIT w/ 1 BR/1BA. Good tenants in place below market rate. Total rents $2,500 cd grow to $3,100. Landlord pays heat but venting in place to add 2 HVAC systems for separate meters each unit. Aluminum siding, front and enclosed porches, natural gas. Driveway, garage. Live here for free and tenant pay freight or take it over for income generation. **OPEN HOUSE Sunday 4/16 from 1pm - 3pm**

8. 2023-06-16
   status Pending

   Show marketing remark (572 chars)

   Prime location Amsterdam 3 family close to schools, restaurants and shopping. 1st FLOOR UNIT spans 1,310 sqft w/ 3 BR/1.5 BA, Large LR & DR; 2nd FLOOR UNIT w/ 2 BR/1BA; 3rd FLOOR UNIT w/ 1 BR/1BA. Good tenants in place below market rate. Total rents $2,500 cd grow to $3,100. Landlord pays heat but venting in place to add 2 HVAC systems for separate meters each unit. Aluminum siding, front and enclosed porches, natural gas. Driveway, garage. Live here for free and tenant pay freight or take it over for income generation. **OPEN HOUSE Sunday 4/16 from 1pm - 3pm**

9. 2023-05-15
   price $149,999

   Show marketing remark (572 chars)

   Prime location Amsterdam 3 family close to schools, restaurants and shopping. 1st FLOOR UNIT spans 1,310 sqft w/ 3 BR/1.5 BA, Large LR & DR; 2nd FLOOR UNIT w/ 2 BR/1BA; 3rd FLOOR UNIT w/ 1 BR/1BA. Good tenants in place below market rate. Total rents $2,500 cd grow to $3,100. Landlord pays heat but venting in place to add 2 HVAC systems for separate meters each unit. Aluminum siding, front and enclosed porches, natural gas. Driveway, garage. Live here for free and tenant pay freight or take it over for income generation. **OPEN HOUSE Sunday 4/16 from 1pm - 3pm**

10. 2023-04-18
    listed $174,999 Active

    Show marketing remark (572 chars)

    Prime location Amsterdam 3 family close to schools, restaurants and shopping. 1st FLOOR UNIT spans 1,310 sqft w/ 3 BR/1.5 BA, Large LR & DR; 2nd FLOOR UNIT w/ 2 BR/1BA; 3rd FLOOR UNIT w/ 1 BR/1BA. Good tenants in place below market rate. Total rents $2,500 cd grow to $3,100. Landlord pays heat but venting in place to add 2 HVAC systems for separate meters each unit. Aluminum siding, front and enclosed porches, natural gas. Driveway, garage. Live here for free and tenant pay freight or take it over for income generation. **OPEN HOUSE Sunday 4/16 from 1pm - 3pm**

11. 2023-04-17
    historical
12. 2023-04-12
    price $174,999
13. 2023-03-21
    price $179,999
14. 2023-02-01
    price $189,999
15. 2023-01-10
    listed $200,000 Active
16. 2014-06-26
    historical
17. 2014-06-26
    historical
18. 2014-06-26
    listed $39,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $36,216
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,897
• − Management: −$2,897
• − Depreciation: −$7,244
• Taxable income: $4,250
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $6,941/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully updated three-unit property offers a spacious and versatile layout. The home is in good condition with recent updates, making it a true turnkey investment.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and property value
• Both Painting exterior — Fresh paint improves curb appeal and property value
• Both Replace front door — A new front door enhances curb appeal and security

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and property value ↑
• Both Painting exterior — Fresh paint improves curb appeal and property value ↑
• Both Replace front door — A new front door enhances curb appeal and security ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+538.5% since first listed

19 events — show timeline

• 2026-05-23 Pending — Global MLS
• 2026-05-13 Price Changed $249,000 Global MLS
• 2026-05-13 Listed $269,000 Global MLS
• 2025-01-16 Listing Removed — Global MLS
• 2024-12-26 Price Changed $160,000 Global MLS
• 2024-12-25 Price Changed $140,000 Global MLS
• 2024-11-03 Listed $165,000 Global MLS
• 2023-09-06 Sold (MLS) $125,000 Global MLS
• 2023-06-16 Pending — Global MLS
• 2023-05-15 Price Changed $149,999 Global MLS
• 2023-04-18 Listed $174,999 Global MLS
• 2023-04-17 Listing Removed — Global MLS
• 2023-04-12 Price Changed $174,999 Global MLS
• 2023-03-21 Price Changed $179,999 Global MLS
• 2023-02-01 Price Changed $189,999 Global MLS
• 2023-01-10 Listed $200,000 Global MLS
• 2014-06-26 Listed $39,000 Global MLS
• 2014-06-26 Listing Removed — Global MLS
• 2014-06-26 Listing Removed — Global MLS