119 Church St · Saratoga Springs, NY 12866

$859,000

15 bd · 7.5 ba · 2,842 sqft · MultiFamily · 205 Days on market

Built 1860 Fair condition 6,969 sqft lot $302/sqft · 13% below area Est $988k · 13% 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 +21.5/30.0
• ARV discount +13.4/15.0
• Schools +7.8/10.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Rent growth +4.8/5.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

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

Come see this 3 unit building in an awesome location, just a couple blocks from Broadway, This property has all kinds of possibilities. Two apartments ( One 2BR and one 3BR) and a 700+- office/tailor shop in front. Reported income represents only the 3BR unit. Large . 16 acre lot with plenty of off street parking, 2 sheds, fence and even a garden! The 2 apartments have recently been nicely renovated. With a variance, the tailor shop can be used as a professional office with a sign and off street parking! The lot goes all the way back to the alley, creating endless possibilities. Seller will entertain owner financing.

Key facts

• 6,969 sq ft lot
• 6 parking spots
• Built 1860

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/2.5-bath units multifamily listed at $859k. Condition is rated fair.
• This rent per unit runs 36% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $432/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $859k).
• Recommended offer: $756k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 1.9% in Saratoga Springs — 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 82/100 on livability (#83 in NY, #1,284 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: amenities D+, cost of living F.
• Saratoga Springs City SD (suburban): math 67% / reading 72% proficiency, ranked #138 of 590 in NY (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Lake Avenue Elementary School (math 82% / reading 82%, grade A+, #138 of 2,108 statewide, top 8%, 393 students, 21% FRL); Maple Avenue Middle School (math 46% / reading 69%, grade B, #187 of 729 statewide, top 26%, 1,392 students, 27% FRL); Saratoga Springs High School (math 98% / reading 92%, grade A+, #83 of 1,100 statewide, top 8%, 1,947 students, 26% FRL).
• Market conditions: Rents rising fast (+9.2%/yr); 736 active listings in the ZIP; solid renter incomes; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $241k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($756k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $755,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-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?
9. 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.
10. 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.
11. 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: 1.07% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $988,390
• List price: $859,000
• Delta: -13.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-8,237
• Equity at exit: $128,080

10-year hold

• IRR: 13.5%
• Equity multiple: 2.33×
• Total profit: $319,712
• Equity at exit: $74,271

Cash invested: $240,520 (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 →

Active competition Active MLS

• For sale now: 0 active · 2 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12866

• Home prices YoY: -31.8%
• Rents YoY: 9.2%
• Active inventory: 736
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $9,153 medium
• Mortgage (P&I): −$4,505
• Tax est. 1.5%: −$1,074 /mo · $12,885/yr
• Insurance: −$358
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,922
• Net cashflow: $1,295

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	2.5	$9,153
Total (3 units)			$9,153

Break-even live

Break-even rent $7,514

Max offer price $859,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,888	-5% $1,591	+0% $1,295	+5% $998	+10% $701
Rent	-10% $571	-5% $933	+0% $1,295	+5% $1,656	+10% $2,018
Rate	-1.0pp $1,727	-0.5pp $1,513	base $1,295	+0.5pp $1,072	+1.0pp $845

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: $214,750
• Closing costs: $25,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Lawrence St Saratoga Springs, NY	5.0	2.0	1775	$2,700	$1.52	10d	1	0.18mi
99 Woodlawn Ave Saratoga Springs, NY	4.0	2.5	3000	$3,600	$1.20	10d	1	0.28mi
55 State St Saratoga Springs, NY	4.0	3.0	2216	$20,000	$9.03	155d	1	0.32mi
106 Greenfield Ave Saratoga Springs, NY	4.0	4.5	5375	$30,000	$5.58	107d	1	0.44mi
194 Grand Ave Saratoga Springs, NY	4.0	2.5	2200	$28,000	$12.73	184d	1	0.47mi
191 Elm St Saratoga Springs, NY	4.0	1.0	800	$2,000	$2.50	51d	1	0.49mi
70 Lake Ave Unit 1302140P Saratoga Springs, NY	6.0	2.0	—	$16,609	—	184d	1	0.54mi
7 N Circular St Saratoga Springs, NY	4.0	3.5	2300	$6,000	$2.61	107d	1	0.58mi
139 Elm St Saratoga Springs, NY	4.0	3.0	1750	$4,000	$2.29	11d	1	0.62mi
139 Elm St Saratoga Springs, NY	4.0	3.0	1750	$4,000	$2.29	10d	1	0.62mi
10 Marion Pl Saratoga Springs, NY	4.0	2.0	1800	$4,500	$2.50	164d	1	0.72mi
67 North St Saratoga Springs, NY	6.0	3.0	1232	$4,100	$3.33	107d	1	0.76mi
64 Second St Saratoga Springs, NY	4.0	2.0	1838	$3,400	$1.85	164d	1	0.78mi
162 Lake Ave Saratoga Springs, NY	4.0	1.5	2525	$3,500	$1.39	164d	1	0.79mi
77 White St Saratoga Springs, NY	4.0	2.5	2088	$4,000	$1.92	46d	1	0.87mi
20 Madison Ave Ste A Saratoga Springs, NY	4.0	3.0	1600	$2,800	$1.75	10d	1	0.97mi
26 Finley St Unit 1302146P Saratoga Springs, NY	4.0	2.0	—	$14,749	—	184d	1	0.98mi
10 James Dr Unit 1302144P Saratoga Springs, NY	4.0	1.5	—	$10,207	—	164d	1	1.03mi
35 Schuyler Dr Saratoga Springs, NY	4.0	1.5	1600	$15,500	$9.69	51d	1	1.31mi
5 Loughberry Rd Saratoga Springs, NY	4.0	1.5	1774	$3,100	$1.75	2d	1	1.47mi
5 Loughberry Rd Saratoga Springs, NY	4.0	2.0	1774	$3,100	$1.75	51d	1	1.47mi

Property features AI

Finance

• Financial info: Multifamily (3 units); tenants pay hot water, internet, electricity, and gas

Exterior

• Parking: 6 off-street parking spacesTandem parkingPaved driveway
• Utilities: Public waterPublic sewer
• Home design: TriplexSlab foundationVinyl siding
• Construction: Metal, rubber, shingle/asphalt roofing
• Exterior features: Covered porchPatio/porchGardenShed(s)Fenced backyardLevel, cleared lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 3 bedroomsUnit 2: 2 bedroomsUnit 3: bedroom count not specified
• Flooring: CarpetCeramic tileLaminate
• Bathrooms: 2 full bathrooms, 1 half bathroom totalUnit 1: 1 full bath (1st floor)Unit 2: 1 full bath (2nd floor)Unit 3: 1 half bath
• Heating & cooling: Baseboard heatingElectric heatingHot water heatingNatural gas heating
• Interior features: High speed internet
• Laundry & utility: Tenant(s) pay hot water

Listing history 50 events

1. 2026-11-08
   days on market $859,000 Active 205 DOM
2. 2026-11-07
   days on market $859,000 Active 204 DOM
3. 2026-11-06
   days on market $859,000 Active 203 DOM
4. 2026-11-05
   days on market $859,000 Active 202 DOM
5. 2026-11-04
   days on market $859,000 Active 201 DOM
6. 2026-11-02
   days on market $859,000 Active 199 DOM
7. 2026-11-01
   days on market $859,000 Active 198 DOM
8. 2026-10-31
   days on market $859,000 Active 197 DOM
9. 2026-10-30
   days on market $859,000 Active 196 DOM
10. 2026-10-29
    days on market $859,000 Active 195 DOM
11. 2026-10-28
    days on market $859,000 Active 194 DOM
12. 2026-10-27
    days on market $859,000 Active 193 DOM
13. 2026-10-26
    days on market $859,000 Active 192 DOM
14. 2026-10-25
    days on market $859,000 Active 191 DOM
15. 2026-10-24
    days on market $859,000 Active 190 DOM
16. 2026-10-23
    days on market $859,000 Active 189 DOM
17. 2026-10-22
    days on market $859,000 Active 188 DOM
18. 2026-10-21
    days on market $859,000 Active 187 DOM
19. 2026-10-20
    days on market $859,000 Active 186 DOM
20. 2026-10-19
    days on market $859,000 Active 185 DOM
21. 2026-10-18
    days on market $859,000 Active 184 DOM
22. 2026-10-17
    days on market $859,000 Active 183 DOM
23. 2026-10-16
    days on market $859,000 Active 182 DOM
24. 2026-10-15
    days on market $859,000 Active 181 DOM
25. 2026-10-14
    days on market $859,000 Active 180 DOM
26. 2026-10-13
    days on market $859,000 Active 179 DOM
27. 2026-10-12
    days on market $859,000 Active 178 DOM
28. 2026-10-11
    days on market $859,000 Active 177 DOM
29. 2026-10-10
    days on market $859,000 Active 176 DOM
30. 2026-10-09
    days on market $859,000 Active 175 DOM
31. 2026-10-08
    days on market $859,000 Active 174 DOM
32. 2026-10-07
    days on market $859,000 Active 173 DOM
33. 2026-10-06
    days on market $859,000 Active 172 DOM
34. 2026-10-05
    days on market $859,000 Active 171 DOM
35. 2026-10-04
    days on market $859,000 Active 170 DOM
36. 2026-10-04
    days on market $859,000 Active 169 DOM
37. 2026-10-02
    days on market $859,000 Active 168 DOM
38. 2026-10-01
    days on market $859,000 Active 167 DOM
39. 2026-09-30
    days on market $859,000 Active 166 DOM
40. 2026-09-29
    days on market $859,000 Active 165 DOM
41. 2026-09-28
    days on market $859,000 Active 164 DOM
42. 2026-09-27
    days on market $859,000 Active 163 DOM
43. 2026-09-25
    days on market $859,000 Active 161 DOM
44. 2026-09-24
    days on market $859,000 Active 160 DOM
45. 2026-09-23
    days on market $859,000 Active 159 DOM
46. 2026-09-22
    days on market $859,000 Active 158 DOM
47. 2026-09-21
    days on market $859,000 Active 157 DOM
48. 2026-09-20
    days on market $859,000 Active 156 DOM
49. 2026-09-19
    days on market $859,000 Active 155 DOM
50. 2026-09-18
    days on market $859,000 Active 154 DOM

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

Taxation est. · year 1

• Rental income: $109,836
• − Mortgage interest: −$48,117
• − Property taxes: −$12,885
• − Insurance: −$4,295
• − Repairs & maintenance: −$8,787
• − Management: −$8,787
• − Depreciation: −$24,989
• Taxable income: $1,976
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $15,060/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 · 13 photos

Fair 50/100 Moderate rehab Est. rehab $71,050–$127,890 screening

This multi-family property requires moderate renovations to improve its condition and appeal. A kitchen renovation, appliance upgrade, and landscaping improvements would significantly increase its resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — The cabinets appear dated and could benefit from an upgrade.
• Moderate Appliances — The appliances appear outdated and could be replaced with modern models.
• Moderate Flooring — The flooring in the kitchen and bathrooms appears worn and could be replaced with more durable materials.
• Moderate Landscaping — The landscaping is basic and could be improved to enhance curb appeal.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen renovation can significantly increase the home's resale value. ↑
• Rental Landscaping — Improved landscaping can enhance curb appeal and attract tenants. ↑
• Both Appliance upgrade — Upgrading appliances can improve the home's functionality and appeal to both buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

B Composite school gradezoned avg 78/100

Zoned Schools

Elementary Lake Avenue Elementary School A+ NY #138/2,108 Nat'l #849/41,679 Middle Maple Avenue Middle School B NY #187/729 Nat'l #2,146/14,009 High Saratoga Springs High School A+ NY #83/1,100 Nat'l #116/17,239

Schools (NCES district)

• District: Saratoga Springs City SD
• NCES district ID: 3625770
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 72% ▲ 6.00%
• Median HH income: $69,864
• Composite: 60.83/100
• National rank: #818
• State rank: #138 of 590 in NY

A Composite livability gradescore 82/100

Livability — Saratoga Springs

• Score: 82/100
• State rank: #83
• US rank: #1284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saratoga Springs, NY
• County: Saratoga County · 238,889 people
• City population: 40,057
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 40,057
• Household income: $101,901
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 11% of renters

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Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Asian 2% Black 2%
• Languages at home: 92% English-only · Spanish 2% German/W. Germanic 1% Korean 1%

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Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.78%
• Current HPI: 382.7429
• Rent YoY: ▲ 9.15%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Financial info: Multifamily (3 units); tenants pay hot water, internet, electricity, and gas

Exterior

• Parking: 6 off-street parking spacesTandem parkingPaved driveway
• Utilities: Public waterPublic sewer
• Home design: TriplexSlab foundationVinyl siding
• Construction: Metal, rubber, shingle/asphalt roofing
• Exterior features: Covered porchPatio/porchGardenShed(s)Fenced backyardLevel, cleared lot

Interior

• Kitchen: Each unit includes a kitchen
• Bedrooms: Unit 1: 3 bedroomsUnit 2: 2 bedroomsUnit 3: bedroom count not specified
• Flooring: CarpetCeramic tileLaminate
• Bathrooms: 2 full bathrooms, 1 half bathroom totalUnit 1: 1 full bath (1st floor)Unit 2: 1 full bath (2nd floor)Unit 3: 1 half bath
• Heating & cooling: Baseboard heatingElectric heatingHot water heatingNatural gas heating
• Interior features: High speed internet
• Laundry & utility: Tenant(s) pay hot water

Price history

+43951.3% since first listed

5 events — show timeline

• 2026-04-16 Listed $859,000 Global MLS
• 2025-12-16 Listing Removed — Global MLS
• 2025-06-16 Listed $959,000 Global MLS
• 2024-02-22 Rental Removed $1,950 GLOBALMLS
• 2024-01-12 Listed for Rent $1,950 GLOBALMLS