443 Myrtle Ave · Albany, NY 12208

$349,900

6 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 20 Days on market

Built 1928 3,049 sqft lot Est $275k · 27% over

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Why this score? — see what drove the D 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 +18.9/30.0
• DSCR +6.0/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

off street parking for multiple cars VERY close to Albany Medical Center walk up attic seperate washer and dryer rooms in basement enclosed front and back porches

Key facts

• Large walk up attic
• Off street parking
• 3,049 sq ft lot

Tags

• WALKING DISTANCE TO ALBANY MED
• OFF STREET PARKING
• SEPARATE LAUNDRY ROOMS
• LARGE WALK UP ATTIC
• TREMENDOUS RENTAL HISTORY

Property features AI

Finance

• Financial info: Two-unit multifamily property; tenants pay hot water, heat, internet, electricity, and gas; owner pays water, sewer, and trash collection

Exterior

• Parking: Paved parking for 4 vehicles
• Security: Carbon monoxide detector(s); Fire alarm
• Utilities: Public water; Public sewer; Circuit breakers for electric; Cable available
• Home design: Duplex; Living area approximately 2,040; Vinyl siding; Asphalt roof
• Construction: Vinyl siding construction
• Exterior features: Covered patio/porch; Level, cleared lot

Interior

• Bedrooms: Two 3-bedroom units (each unit has 3 bedrooms)
• Flooring: Vinyl; Tile; Carpet
• Bathrooms: Each unit has 1 full bath (2 total full baths)
• Heating & cooling: Hot water heating; Natural gas
• Interior features: Full, unfinished basement; Covered first- and second-floor bathrooms; Carbon monoxide detector(s); Fire alarm
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.7% in Albany — 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 79/100 on livability (#129 in NY, #2,083 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, crime F.
• Albany City School District (urban): math 37% / reading 40% proficiency, ranked #543 of 590 in NY (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL) — zoned schools at 69% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 38% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Albany City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.0%/yr); 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).

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

• It's been on market 20 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 26y 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 $295k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,651 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $275,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
645 Myrtle Ave	0.45mi	6/2.0	2,000 (-2%)	5mo	$270,000	$135	71
157 Western Ave	0.45mi	7/2.0 (+1)	2,144 (+5%)	5mo	$215,000	$100	61
380-382 Morris St	0.27mi	6/2.0	2,344 (+15%)	3mo	$300,000	$128	60
676 Providence St	0.59mi	5/2.0 (-1)	2,118 (+4%)	2mo	$250,000	$118	60
538 Myrtle Ave	0.22mi	5/5.0 (-1)	2,216 (+9%)	2mo	$410,000	$185	57
184 Quail St	0.51mi	6/3.0	1,853 (-9%)	4mo	$231,000	$125	53
531 Hamilton St	0.61mi	5/3.0 (-1)	2,112 (+4%)	5mo	$284,750	$135	53
687 Myrtle Ave	0.57mi	6/2.0	2,238 (+10%)	6mo	$310,000	$139	52
189 Elk St	0.73mi	6/2.0	1,880 (-8%)	2mo	$89,900	$48	51
563 Morris St	0.69mi	6/2.0	2,224 (+9%)	6mo	$275,000	$124	48
391 Washington Ave	0.53mi	7/4.0 (+1)	2,217 (+9%)	5mo	$350,000	$158	44
454 Ontario St	0.59mi	5/2.0 (-1)	1,776 (-13%)	5mo	$290,000	$163	42

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-26,078
• Equity at exit: $52,171

10-year hold

• IRR: 5.0%
• Equity multiple: 1.40×
• Total profit: $39,465
• 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 12208

• Home prices YoY: -30.1%
• Rents YoY: 5.0%
• Active inventory: 99
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,576 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$483 /mo · $5,796/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$751
• Net cashflow: $361

Break-even live

Break-even rent $3,119

Max offer price $349,900

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,576
Total (2 units)			$3,576

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Winthrop Ave Albany, NY	6.0	2.0	2800	$2,795	$1.00	23d	1	1.44mi

Listing history 36 events

1. 2026-06-14
   status $349,900 Pending 20 DOM
2. 2026-06-10
   days on market $349,900 Active 20 DOM
3. 2026-06-08
   days on market $349,900 Active 18 DOM
4. 2026-06-07
   days on market $349,900 Active 17 DOM
5. 2026-06-03
   days on market $349,900 Active 13 DOM
6. 2026-06-02
   days on market $349,900 Active 12 DOM
7. 2026-06-01
   days on market $349,900 Active 11 DOM
8. 2026-05-31
   days on market $349,900 Active 10 DOM
9. 2026-05-31
   days on market $349,900 Active 9 DOM
10. 2026-05-21
    listed $349,900 Active
11. 2025-10-29
    historical
12. 2025-10-27
    historical $1,650
13. 2025-10-20
    listed $339,900 Active
14. 2025-10-13
    price $1,650
15. 2025-09-11
    listed $1,750
16. 2024-09-20
    soldstatus $295,000 Closed 166-char remark

    Show marketing remark (166 chars)

    off street parking for multiple cars VERY close to Albany Medical Center walk up attic seperate washer and dryer rooms in basement enclosed front and back porches

17. 2024-06-10
    status Pending 166-char remark

    Show marketing remark (166 chars)

    off street parking for multiple cars VERY close to Albany Medical Center walk up attic seperate washer and dryer rooms in basement enclosed front and back porches

18. 2024-06-07
    listed $289,000 Active 166-char remark

    Show marketing remark (166 chars)

    off street parking for multiple cars VERY close to Albany Medical Center walk up attic seperate washer and dryer rooms in basement enclosed front and back porches

19. 2010-10-26
    soldstatus $165,500
20. 2010-09-30
    soldstatus $165,400
21. 2010-08-20
    historical
22. 2009-06-16
    listed $168,800
23. 2009-05-25
    historical
24. 2008-11-24
    listed $188,500
25. 2008-11-12
    historical
26. 2008-10-23
    listed $199,900
27. 2008-10-01
    historical
28. 2008-06-04
    listed $199,900
29. 2005-03-16
    soldstatus $175,000
30. 2005-03-14
    soldstatus $175,000
31. 2005-02-07
    historical
32. 2005-02-03
    listed $161,000
33. 2000-10-30
    soldstatus $29,900
34. 2000-10-20
    soldstatus $29,900
35. 2000-08-22
    listed $29,900
36. 2000-07-27
    soldstatus $75,000

ⓘ 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: $5,796 · $483/mo
• Projected year-2 tax: $5,855 · $488/mo
• Expected delta: +$59/yr (+$5/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 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: $42,912
• − Mortgage interest: −$19,600
• − Property taxes: −$5,796
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,433
• − Management: −$3,433
• − Depreciation: −$10,179
• Taxable loss: −$1,278
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $4,643/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: Albany City School District
• NCES district ID: 3602460
• Math proficiency: 37% ▲ 6.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $40,568
• Composite: 32.34/100
• National rank: #5744
• State rank: #543 of 590 in NY

Livability — Albany

• Score: 79/100
• State rank: #129
• US rank: #2083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, NY
• County: Albany County · 196,626 people
• City population: 116,921
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 23,289
• Household income: $70,413
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1952.0

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 (66%)
• Race & ethnicity: White 66% Black 12% Asian 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Italian 3% Scotch-Irish 3%
• Foreign-born: 16% · Canada, China, Philippines
• Languages at home: 83% English-only · Other Indo-European 4% Other Asian/Pacific 3% French/Haitian/Cajun 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: ▼ -120.46%
• Current HPI: 279.716
• Rent YoY: ▲ 5.05%
• 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

+366.5% since first listed

27 events — show timeline

• 2026-05-21 Listed $349,900 Global MLS
• 2025-10-29 Listing Removed — Global MLS
• 2025-10-27 Rental Removed $1,650 GLOBALMLS
• 2025-10-20 Listed $339,900 Global MLS
• 2025-10-13 Price Changed $1,650 GLOBALMLS
• 2025-09-11 Listed for Rent $1,750 GLOBALMLS
• 2024-09-20 Sold (MLS) $295,000 Global MLS
• 2024-06-10 Pending — Global MLS
• 2024-06-07 Listed $289,000 Global MLS
• 2010-10-26 Sold (Public Records) $165,500 Public Records
• 2010-09-30 Sold (MLS) $165,400 Global MLS
• 2010-08-20 Listing Removed — Global MLS
• 2009-06-16 Listed $168,800 Global MLS
• 2009-05-25 Listing Removed — Global MLS
• 2008-11-24 Listed $188,500 Global MLS
• 2008-11-12 Listing Removed — Global MLS
• 2008-10-23 Listed $199,900 Global MLS
• 2008-10-01 Listing Removed — Global MLS
• 2008-06-04 Listed $199,900 Global MLS
• 2005-03-16 Sold (Public Records) $175,000 Public Records
• 2005-03-14 Sold (MLS) $175,000 Global MLS
• 2005-02-07 Listing Removed — Global MLS
• 2005-02-03 Listed $161,000 Global MLS
• 2000-10-30 Sold (Public Records) $29,900 Public Records
• 2000-10-20 Sold (MLS) $29,900 Global MLS
• 2000-08-22 Listed $29,900 Global MLS
• 2000-07-27 Sold (Public Records) $75,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $5,796 · +3.2% YoY. Source: county tax records.