8 Gardiner St · Amsterdam, NY 12010

$645,000

12 bd · 6.0 ba · 6,496 sqft · MultiFamily public records · 89 Days on market

Built 1900 4,791 sqft lot $99/sqft · 75% above area

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This fully renovated six-family property is a standout investment, generating $90,000 annually in profit. The building has been updated from top to bottom, featuring modern flooring, updated kitchens, and refreshed bathrooms throughout. Ideally situated near dining, shopping, the train station, and hospital offering both convenience and comfort. Whether you're expanding an existing portfolio or entering the market for the first time, this is a turnkey opportunity you won't want to miss.

Key facts

• Fully renovated
• Modern flooring
• Refreshed bathrooms

Tags

• FULLY RENOVATED
• MODERN FLOORING
• UPDATED KITCHENS
• REFRESHED BATHROOMS
• TURNKEY OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $645k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $645k).
• Recommended offer: $606k (6.0% below list) — sets the bar for market timing.

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 $69k of equity ($4k loan paydown + $64k 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 $181k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$111k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($606k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $95k; list at $645k implies a 579% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $606,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.33% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.94%
• DSCR: 1.84
• GRM: 6.3

CMA / ARV

• ARV (median comp): $275,999
• List price: $645,000
• Delta: 133.70%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 38.1%
• Equity multiple: 3.93×
• Total profit: $529,122
• Equity at exit: $581,067

10-year hold

• IRR: 32.8%
• Equity multiple: 8.85×
• Total profit: $1,417,831
• Equity at exit: $1,253,093

Cash invested: $180,600 (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: 37.7×

Monthly cashflow live

• Estimated rent: $8,547 high
• Mortgage (P&I): −$3,382
• Tax from tax record: −$250 /mo · $3,004/yr
• Insurance: −$269
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,795
• Net cashflow: $2,795

Break-even live

Break-even rent $5,009

Max offer price $645,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,160	-5% $2,978	+0% $2,795	+5% $2,612	+10% $2,430
Rent	-10% $2,120	-5% $2,457	+0% $2,795	+5% $3,133	+10% $3,470
Rate	-1.0pp $3,120	-0.5pp $2,959	base $2,795	+0.5pp $2,628	+1.0pp $2,458

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$8,544
Total (6 units)			$8,547

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: $161,250
• Closing costs: $19,350
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $645,000 Active 89 DOM
2. 2026-06-18
   days on market $645,000 Active 86 DOM
3. 2026-06-17
   days on market $645,000 Active 85 DOM
4. 2026-06-16
   days on market $645,000 Active 84 DOM
5. 2026-06-15
   days on market $645,000 Active 83 DOM
6. 2026-06-14
   days on market $645,000 Active 81 DOM
7. 2026-06-13
   days on market $645,000 Active 80 DOM
8. 2026-06-10
   days on market $645,000 Active 78 DOM
9. 2026-06-09
   days on market $645,000 Active 77 DOM
10. 2026-06-08
    days on market $645,000 Active 76 DOM
11. 2026-06-07
    days on market $645,000 Active 75 DOM
12. 2026-06-03
    days on market $645,000 Active 71 DOM
13. 2026-06-02
    days on market $645,000 Active 70 DOM
14. 2026-06-01
    days on market $645,000 Active 69 DOM
15. 2026-05-31
    days on market $645,000 Active 68 DOM
16. 2026-05-31
    days on market $645,000 Active 67 DOM
17. 2026-05-01
    historical $1,200
18. 2026-03-24
    listed $645,000 Active 491-char remark

    Show marketing remark (491 chars)

    This fully renovated six-family property is a standout investment, generating $90,000 annually in profit. The building has been updated from top to bottom, featuring modern flooring, updated kitchens, and refreshed bathrooms throughout. Ideally situated near dining, shopping, the train station, and hospital offering both convenience and comfort. Whether you're expanding an existing portfolio or entering the market for the first time, this is a turnkey opportunity you won't want to miss.

19. 2026-03-14
    listed $1,200
20. 2026-03-14
    historical $1,200
21. 2026-02-19
    listed $1,200
22. 2022-06-09
    soldstatus $95,000
23. 2016-10-12
    soldstatus $40,000
24. 2016-04-07
    soldstatus $40,000
25. 2016-03-24
    historical
26. 2016-03-09
    status Back On Market
27. 2015-12-26
    status Pend (Under Cntr)
28. 2015-11-24
    listed $40,000 Active

ⓘ 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: $3,004 · $250/mo
• Projected year-2 tax: $6,952 · $579/mo
• Expected delta: +$3,948/yr (+$329/mo · 131.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 18 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: $102,564
• − Mortgage interest: −$36,130
• − Property taxes: −$3,004
• − Insurance: −$3,892
• − Repairs & maintenance: −$8,205
• − Management: −$8,205
• − Depreciation: −$18,764
• Taxable income: $24,364
• Est. tax owed @ 24.0%: −$5,847
• After-tax cash flow: $27,693/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

-97.0% since first listed

12 events — show timeline

• 2026-05-01 Rental Removed $1,200 GLOBALMLS
• 2026-03-24 Listed $645,000 Global MLS
• 2026-03-14 Listed for Rent $1,200 GLOBALMLS
• 2026-03-14 Rental Removed $1,200 GLOBALMLS
• 2026-02-19 Listed for Rent $1,200 GLOBALMLS
• 2022-06-09 Sold (Public Records) $95,000 Public Records
• 2016-10-12 Sold (Public Records) $40,000 Public Records
• 2016-04-07 Sold (Public Records) $40,000 Public Records
• 2016-03-24 Listing Removed — Global MLS
• 2016-03-09 Relisted — Global MLS
• 2015-12-26 Pending — Global MLS
• 2015-11-24 Listed $40,000 Global MLS

Property tax history

+3.8%/yr

Latest (2025): $3,004 · +26.2% YoY. Source: county tax records.