31 Elk St · Amsterdam, NY 12010

$85,000

8 bd · 2.0 ba · 2,256 sqft · MultiFamily public records · 3 Days on market

Built 1900 3,484 sqft lot Est $131k · 35% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This one will sell fast! Sold as is. Owner is licensed Broker. Good Condition

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Two-unit multi-family property

Exterior

• Parking: Off-street paved parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; 2 separate units; Living area approximately 2,256
• Construction: Brick construction
• Exterior features: Front porch; Rear porch; Back yard fencing

Interior

• Bedrooms: Unit 1: 4 bedrooms; Unit 2: 4 bedrooms
• Flooring: Wood flooring; Laminate flooring
• Bathrooms: Two full bathrooms total (one full bath on the 1st level, one full bath on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Natural gas heating
• Interior features: Wood and laminate flooring; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $770/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).

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: Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 78% at this address vs 38% district-wide (+40 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: 164 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 $9k of equity ($588 loan paydown + $8k 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 $24k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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 $46k; list at $85k implies a 85% 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.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.29% ✓
• Cap rate: 28.83%
• Cash-on-cash: 80.50%
• DSCR: 4.58
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $130,848
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Degraff St	0.11mi	8/2.0	2,200 (-2%)	21mo	$90,100	$41	74
64 Forbes St	0.41mi	8/2.0	2,272 (+1%)	12mo	$132,500	$58	70
6-8 Vrooman Ave	0.07mi	8/2.0	2,570 (+14%)	12mo	$100,000	$39	63
18 Kline St #2	0.14mi	7/2.0 (-1)	1,924 (-15%)	3mo	$148,000	$77	62

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: 87.9%
• Equity multiple: 7.07×
• Total profit: $144,532
• Equity at exit: $76,575

10-year hold

• IRR: 82.5%
• Equity multiple: 15.65×
• Total profit: $348,626
• Equity at exit: $165,136

Cash invested: $23,800 (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: 164
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,799 high
• Mortgage (P&I): −$446
• Tax from tax record: −$134 /mo · $1,602/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $1,541

Break-even live

Break-even rent $848

Max offer price $85,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,589	-5% $1,565	+0% $1,541	+5% $1,517	+10% $1,493
Rent	-10% $1,320	-5% $1,430	+0% $1,541	+5% $1,652	+10% $1,762
Rate	-1.0pp $1,584	-0.5pp $1,563	base $1,541	+0.5pp $1,519	+1.0pp $1,497

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$2,800
Total (2 units)			$2,799

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-31
   statusdays on market $85,000 Pending 3 DOM
2. 2026-05-27
   listed $85,000 Active
3. 2024-08-30
   soldstatus $46,000
4. 2014-07-01
   soldstatus $12,000 77-char remark

   Show marketing remark (77 chars)

   This one will sell fast! Sold as is. Owner is licensed Broker. Good Condition

5. 2014-06-06
   historical 77-char remark

   Show marketing remark (77 chars)

   This one will sell fast! Sold as is. Owner is licensed Broker. Good Condition

6. 2014-06-02
   listed $14,000 77-char remark

   Show marketing remark (77 chars)

   This one will sell fast! Sold as is. Owner is licensed Broker. Good Condition

7. 2010-02-23
   historical
8. 2008-01-22
   listed $59,900
9. 2005-01-11
   soldstatus $39,900
10. 2005-01-10
    soldstatus $39,900
11. 2004-03-03
    listed $55,000
12. 2004-02-03
    soldstatus $17,800
13. 2004-01-29
    soldstatus $17,800
14. 2003-11-25
    historical
15. 2003-09-11
    listed $18,900

ⓘ 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: $1,602 · $134/mo
• Projected year-2 tax: $1,602 · $134/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 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: $33,588
• − Mortgage interest: −$4,761
• − Property taxes: −$1,602
• − Insurance: −$1,092
• − Repairs & maintenance: −$2,687
• − Management: −$2,687
• − Depreciation: −$2,473
• Taxable income: $18,286
• Est. tax owed @ 24.0%: −$4,389
• After-tax cash flow: $14,103/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

+349.7% since first listed

14 events — show timeline

• 2026-05-27 Listed $85,000 Global MLS
• 2024-08-30 Sold (Public Records) $46,000 Public Records
• 2014-07-01 Sold (MLS) $12,000 Global MLS
• 2014-06-06 Listing Removed — Global MLS
• 2014-06-02 Listed $14,000 Global MLS
• 2010-02-23 Listing Removed — Global MLS
• 2008-01-22 Listed $59,900 Global MLS
• 2005-01-11 Sold (Public Records) $39,900 Public Records
• 2005-01-10 Sold (MLS) $39,900 Global MLS
• 2004-03-03 Listed $55,000 Global MLS
• 2004-02-03 Sold (Public Records) $17,800 Public Records
• 2004-01-29 Sold (MLS) $17,800 Global MLS
• 2003-11-25 Listing Removed — Global MLS
• 2003-09-11 Listed $18,900 Global MLS

Property tax history

-0.5%/yr

Latest (2025): $1,602 · -5.4% YoY. Source: county tax records.