78 Northampton Rd

Amsterdam, NY 12010

$148,900C

3 bd · 1.5 ba · 1,753 sqft · Built 1951 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,391/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$360
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $-42/mo
• Annual: $-498/yr
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 1% rule: 0.93%
• Cash to close: $41,692

Investor read

• This is a 3-bed/1.5-bath single-family listed at $149k.
• At list price, monthly cash flow is $-42 ($-498/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (6.6% below list).
• It's been on market 31 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $139k (6.6% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• 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: Raphael J Mcnulty Academy For Intern Studies & Literacy (math 22% / reading 27%, grade F, #1,846 of 2,108 statewide, top 91%, 447 students, 0% FRL); Amsterdam High School (math 75% / reading 82%, grade A-, #563 of 1,100 statewide, top 52%, 1,179 students, 68% FRL).
• Zoned-school proficiency averages 52% at this address vs 38% district-wide (+14 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.
• Watch-outs: flood insurance adds $56/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 164 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 210 units permitted in Montgomery County in 2024 (168 in 5+ unit buildings).
• 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.