48 Schoolhouse Rd · Westmere, NY 12203

$349,900

6 bd · 2.0 ba · 1,740 sqft · MultiFamily public records · 8 Days on market

Built 1949 9,583 sqft lot Est $397k · 12% 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 +26.2/30.0
• ARV discount +12.8/15.0
• DSCR +8.8/10.0
• 1% rule +7.5/10.0
• Schools +5.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Terrific Opportunity! Fabulous location! Duplex in Guilderland Schools perfect for owner-occupants or investors. The main unit offers approximately 1,300sq. ft. of living space on two levels, featuring a spacious living room, large eat-in kitchen, four bedrooms, a room with potential for another bedroom, and a rear sun porch with deck. The second unit approx. 960 sq ft s on the lower-level with two bedrooms, one bath, an eat-in kitchen, and living room. Each unit has separate gas meters and its own washer/dryer hookups. Situated on a lovely lot in a prime location just steps from Stuyvesant Plaza and the University at Albany, with convenient access to shopping, dining, public transportation

Key facts

• Large eat-in kitchen
• Separate gas meters
• Washer dryer hookups

Tags

• DUPLEX IN GUILDERLAND SCHOOLS
• SPACIOUS LIVING ROOM
• LARGE EAT-IN KITCHEN
• REAR SUN PORCH WITH DECK
• SEPARATE GAS METERS
• WASHER DRYER HOOKUPS

Property features AI

Exterior

• Parking: 6 parking spaces total
• Utilities: Public water; Public sewer
• Home design: Duplex; Entry level includes basement walk-out
• Construction: Vinyl siding; Asphalt roof; Below-grade finished area present
• Exterior features: Porch; Deck; Level lot

Interior

• Kitchen: Each unit has a kitchen
• Bedrooms: Unit 1: 4 bedrooms (3 on 1st floor, 1 on 2nd floor); Unit 2: 2 bedrooms in the basement
• Flooring: Vinyl, wood, and carpet flooring
• Bathrooms: 2 full bathrooms (one on main level, one in basement)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement with walk-out access; Basement apartment (finished and heated); Basement is full and heated
• Laundry & utility: Laundry on main level and in basement; Owner pays electricity

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 9.3% vs local median 4.1% in Westmere — 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 69/100 on livability (#477 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F, cost of living D-.
• 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.
• Zoned schools: Guilderland High School (math 97% / reading 82%, grade A+, #265 of 1,100 statewide, top 26%, 1,462 students, 23% FRL).
• Zoned-school proficiency averages 90% at this address vs 64% district-wide (+25 pts) — the actual schools serving this property are materially stronger than the Guilderland Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.9%/yr); 127 active listings in the ZIP; solid renter incomes; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $4,386/mo this rent would consume 63% of the median local household income ($83k/yr) (locally 1704% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $349,900

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 1949 — 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 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 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: 1.25% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.88%
• DSCR: 1.48
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $396,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Kaine Dr	0.48mi	6/3.0	1,800 (+3%)	11mo	$409,531	$228	59

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

Projected returns pro-forma

-3.0% appreciation · 1.85% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-4,971
• Equity at exit: $52,171

10-year hold

• IRR: 7.0%
• Equity multiple: 1.50×
• Total profit: $49,076
• Equity at exit: $30,253

Cash invested: $97,972 (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 12203

• Home prices YoY: -31.0%
• Rents YoY: 1.9%
• Active inventory: 127
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $4,386 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$596 /mo · $7,150/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$921
• Net cashflow: $888

Break-even live

Break-even rent $3,261

Max offer price $349,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,086	-5% $987	+0% $888	+5% $789	+10% $690
Rent	-10% $542	-5% $715	+0% $888	+5% $1,062	+10% $1,235
Rate	-1.0pp $1,065	-0.5pp $977	base $888	+0.5pp $798	+1.0pp $705

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,386
Total (2 units)			$4,386

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-17
   status $349,900 Pending 8 DOM
2. 2026-06-17
   days on market $349,900 Active 8 DOM
3. 2026-06-16
   days on market $349,900 Active 7 DOM
4. 2026-06-15
   days on market $349,900 Active 6 DOM
5. 2026-06-14
   days on market $349,900 Active 4 DOM
6. 2026-06-09
   remarks 699-char remark
7. 2026-06-09
   listed $349,900 Active 1 DOM

ⓘ 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: $7,150 · $596/mo
• Projected year-2 tax: $7,150 · $596/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $52,632
• − Mortgage interest: −$19,600
• − Property taxes: −$7,150
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,211
• − Management: −$4,211
• − Depreciation: −$10,179
• Taxable income: $5,533
• Est. tax owed @ 24.0%: −$1,328
• After-tax cash flow: $9,333/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 — Westmere

• Score: 69/100
• State rank: #477
• US rank: #8403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Albany County · 196,626 people
• City population: 30,080
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 30,771
• Household income: $83,147
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1704.0

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 (69%)
• Race & ethnicity: White 69% Black 10% Asian 8% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 6% Spanish 3% Russian/Polish/Slavic 2%

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: ▼ -133.05%
• Current HPI: 296.0467
• Rent YoY: ▲ 1.85%
• Metro: Albany-Schenectady-Troy, NY
• 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 event — show timeline

• 2026-06-09 Listed $349,900 Global MLS

Property tax history

+2.7%/yr

Latest (2025): $7,150 · +2.0% YoY. Source: county tax records.