267 Broadway

Menands, NY 12204

$80,000B-

1 bd · 1.0 ba · 553 sqft · Built 1920 · SingleFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,424/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $521/mo
• Annual: $6,253/yr
• Cap rate: 14.11%
• Cash-on-cash: 27.91%
• DSCR: 2.24
• 1% rule: 1.78%
• Cash to close: $22,400

Investor read

• This is a 1-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 39 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.9%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#153 in NY, #2,392 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A; Watch: amenities F, cost of living D-.
• Menands Union Free School District (suburban): math 55% / reading 50% proficiency, ranked #392 of 755 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 17y 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.
• At projected returns (-1.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.