548 Summit Ave · Schenectady, NY 12307

$139,000

2 bd · 1.5 ba · 1,200 sqft · Land · 188 Days on market

Built 2026 Excellent condition 3,920 sqft lot $116/sqft · 16% below area Est $165k · 16% 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 +22.6/30.0
• ARV discount +14.6/15.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Condition / age +5.0/5.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0

Listing remarks

Open House: Sunday, July 12th from 12 p. m. - 2 p. m. This newly constructed townhome, offered through the Affordable Homeownership Opportunity Program (AHOP), provides a modern and affordable path to homeownership for moderate-income first-time buyers. Designed with contemporary finishes and quality craftsmanship, the home offers both comfort and style at a budget-conscious price making it an ideal choice for those seeking long-term stability and equity in a growing community. Let us help you get into your dream home! This home is currently under construction and slated to be finished by the end of the Month (April). Pictures are what the home will look like.

Key facts

• 2 parking spots
• Built 2026
• Listed 187 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath land listed at $139k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Schenectady — 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 78/100 on livability (#167 in NY, #2,597 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, cost of living A; Watch: employment D+, crime F.
• Schenectady City School District (urban): math 38% / reading 34% proficiency, ranked #556 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Van Corlaer Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 436 students, 78% FRL); Mont Pleasant Middle School (math 2% / reading 27%, grade F, #704 of 729 statewide, top 98%, 671 students, 81% FRL); Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Market conditions: 83 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 50d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $1,517/mo this rent would consume 55% of the median local household income ($33k/yr) (locally 26% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $139k implies a 85% gain — meaningful room to come down on a strong offer.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $165,000
• List price: $139,000
• Delta: -15.76%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 Summit Ave	0.19mi	2/1.5	1,200 (0%)	1mo	$139,000	$116	90
906 Altamont Ave	1.17mi	2/2.0	1,184 (-1%)	1mo	$226,000	$191	60
14 Hawk St	0.83mi	3/2.0 (+1)	1,192 (-1%)	1mo	$215,000	$180	56
143 Duane Ave	0.38mi	2/2.0	1,472 (+23%)	0mo	$157,000	$107	55
2137 Campbell Ave	1.21mi	2/1.5	1,112 (-7%)	2mo	$259,000	$233	51
1646 Van Cortland St	1.13mi	3/2.0 (+1)	1,142 (-5%)	1mo	$252,000	$221	49
1253 Van Cortland St	0.73mi	3/2.0 (+1)	1,128 (-6%)	0mo	$216,000	$191	49
1116 Austin Pl	1.19mi	3/1.0 (+1)	1,305 (+9%)	1mo	$285,000	$218	42
1552 4th Ave	0.72mi	2/1.0	921 (-23%)	0mo	$145,000	$157	39
1341 7th Ave	0.76mi	3/2.0 (+1)	1,056 (-12%)	2mo	$185,500	$176	36
565 Nott St	1.33mi	3/1.0 (+1)	1,352 (+13%)	1mo	$100,000	$74	36
1034 Glendale Pl	0.85mi	3/2.5 (+1)	1,468 (+22%)	1mo	$242,000	$165	30

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: 29.6%
• Equity multiple: 3.33×
• Total profit: $90,875
• Equity at exit: $125,222

10-year hold

• IRR: 25.7%
• Equity multiple: 7.57×
• Total profit: $255,744
• Equity at exit: $270,046

Cash invested: $38,920 (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 12307

• Home prices YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $238

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 79%

Sensitivity live

Price	-10% $334	-5% $286	+0% $238	+5% $190	+10% $142
Rent	-10% $118	-5% $178	+0% $238	+5% $298	+10% $358
Rate	-1.0pp $308	-0.5pp $273	base $238	+0.5pp $202	+1.0pp $165

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: $34,750
• Closing costs: $4,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
635 Crane St Schenectady, NY	2.0	1.0	1200	$1,200	$1.00	107d	1	0.28mi
815 Grant Ave Schenectady, NY	3.0	1.0	1100	$1,250	$1.14	51d	1	0.36mi
242 Broadway Unit 304 Schenectady, NY	1.0	1.0	1067	$1,675	$1.57	107d	1	0.38mi
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	164d	1	0.41mi
1017 Willett St Schenectady, NY	3.0	1.0	1130	$1,200	$1.06	10d	1	0.41mi
833 Grant Ave Schenectady, NY	3.0	1.0	1100	$1,600	$1.45	10d	1	0.41mi
833 Grant Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	107d	1	0.41mi
803 Craig St Schenectady, NY	3.0	1.0	1045	$1,500	$1.44	107d	1	0.50mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	184d	1	0.51mi
192 Erie Blvd Apt 405 Schenectady, NY	1.0	1.0	926	$1,595	$1.72	37d	1	0.51mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	155d	1	0.51mi
192 Erie Blvd Apt 408 Schenectady, NY	1.0	1.0	902	$1,695	$1.88	10d	1	0.51mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	164d	1	0.51mi
192 Erie Blvd Apt 401 Schenectady, NY	1.0	1.0	819	$1,595	$1.95	184d	1	0.51mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	184d	1	0.51mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	162d	1	0.51mi
1066 Howard St Schenectady, NY	3.0	1.0	1108	$1,600	$1.44	107d	1	0.51mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	160d	1	0.56mi
240 State St Schenectady, NY	1.0–2.0	1.0–2.5	1499	$3,150	$2.10	0d	8	0.57mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	0d	6	0.57mi
225 State St Schenectady, NY	1.0	1.0	900	$1,295	$1.44	0d	1	0.62mi
1 Chestnut St Schenectady, NY	2.0	1.0	1203	$1,600	$1.33	107d	1	0.64mi
1 Chestnut St Schenectady, NY	2.0	1.0	1203	$1,600	$1.33	10d	1	0.64mi
1075 Pleasant St Schenectady, NY	3.0	1.0	1500	$1,500	$1.00	10d	1	0.65mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	0d	1	0.68mi
111 Liberty St Schenectady, NY	2.0	1.0	1408	$1,975	$1.40	11d	1	0.68mi
110 Union St Schenectady, NY	2.0	1.0	750	$1,340	$1.79	5d	1	0.71mi
110 Union St Schenectady, NY	2.0	1.0	750	$1,340	$1.79	46d	1	0.71mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	155d	1	0.71mi
922 State St Schenectady, NY	2.0	1.0–1.5	1000	$1,290	$1.29	10d	3	0.71mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	184d	1	0.72mi
111 Union St Unit 1 Schenectady, NY	1.0	1.0	800	$1,275	$1.59	1d	1	0.73mi
111 Union St Unit 2 Schenectady, NY	1.0	1.0	1050	$1,475	$1.40	1d	1	0.74mi
5 Union St Schenectady, NY	1.0	1.0	900	$1,350	$1.50	0d	1	0.76mi
1617 Campbell Ave Unit 2 Schenectady, NY	1.0	1.0	941	$1,300	$1.38	50d	1	0.77mi
332 Duane Ave Schenectady, NY	3.0	1.0	1188	$1,550	$1.30	51d	1	0.77mi
1320 8th Ave Schenectady, NY	2.0	1.0	924	$1,400	$1.52	107d	1	0.82mi
5 Front St Unit 8 Schenectady, NY	1.0	1.5	800	$1,500	$1.88	31d	1	0.83mi
101 Nott Ter #304 Schenectady, NY	2.0	1.0	1250	$1,795	$1.44	10d	1	0.83mi
101 Nott Ter #109 Schenectady, NY	2.0	1.0	1070	$1,645	$1.54	27d	1	0.84mi

Property features AI

Finance

• Other: Lot size about 0.09 acre

Exterior

• Parking: Two off-street paved driveway parking spaces
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew constructionEntry level: First floor
• Construction: Shingle roofVinyl siding with drywall interiorConcrete perimeter foundation; slab; permanent foundationBuilt recently (new construction)
• Exterior features: Paved driveDrive-PavedLandscaped and cleared lot

Interior

• Kitchen: RangeDishwasherInstant hot waterRange hoodENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second level
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom (second level)One half bathroom (first level)
• Heating & cooling: Heat pump and electric heatingDuctless heating and cooling
• Interior features: High-speed internetRadon mitigation systemInstant hot waterTankless water heaterRange hoodENERGY STAR qualified appliancesLow emissivity windows with screens and blindsEgress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Listing history 50 events

1. 2026-11-08
   days on market $139,000 Active 188 DOM
2. 2026-11-07
   days on market $139,000 Active 187 DOM
3. 2026-11-06
   days on market $139,000 Active 186 DOM
4. 2026-11-05
   days on market $139,000 Active 185 DOM
5. 2026-11-04
   days on market $139,000 Active 184 DOM
6. 2026-11-02
   days on market $139,000 Active 182 DOM
7. 2026-11-01
   days on market $139,000 Active 181 DOM
8. 2026-10-31
   days on market $139,000 Active 180 DOM
9. 2026-10-30
   days on market $139,000 Active 179 DOM
10. 2026-10-29
    days on market $139,000 Active 178 DOM
11. 2026-10-28
    days on market $139,000 Active 177 DOM
12. 2026-10-27
    days on market $139,000 Active 176 DOM
13. 2026-10-26
    days on market $139,000 Active 175 DOM
14. 2026-10-25
    days on market $139,000 Active 174 DOM
15. 2026-10-24
    days on market $139,000 Active 173 DOM
16. 2026-10-23
    days on market $139,000 Active 172 DOM
17. 2026-10-22
    days on market $139,000 Active 171 DOM
18. 2026-10-21
    days on market $139,000 Active 170 DOM
19. 2026-10-20
    days on market $139,000 Active 169 DOM
20. 2026-10-19
    days on market $139,000 Active 168 DOM
21. 2026-10-18
    days on market $139,000 Active 167 DOM
22. 2026-10-17
    days on market $139,000 Active 166 DOM
23. 2026-10-16
    days on market $139,000 Active 165 DOM
24. 2026-10-15
    days on market $139,000 Active 164 DOM
25. 2026-10-14
    days on market $139,000 Active 163 DOM
26. 2026-10-13
    days on market $139,000 Active 162 DOM
27. 2026-10-12
    days on market $139,000 Active 161 DOM
28. 2026-10-11
    days on market $139,000 Active 160 DOM
29. 2026-10-10
    days on market $139,000 Active 159 DOM
30. 2026-10-09
    days on market $139,000 Active 158 DOM
31. 2026-10-08
    days on market $139,000 Active 157 DOM
32. 2026-10-07
    days on market $139,000 Active 156 DOM
33. 2026-10-06
    days on market $139,000 Active 155 DOM
34. 2026-10-05
    days on market $139,000 Active 154 DOM
35. 2026-10-04
    days on market $139,000 Active 153 DOM
36. 2026-10-03
    days on market $139,000 Active 152 DOM
37. 2026-10-02
    days on market $139,000 Active 151 DOM
38. 2026-10-01
    days on market $139,000 Active 150 DOM
39. 2026-09-30
    days on market $139,000 Active 149 DOM
40. 2026-09-29
    days on market $139,000 Active 148 DOM
41. 2026-09-28
    days on market $139,000 Active 147 DOM
42. 2026-09-27
    days on market $139,000 Active 146 DOM
43. 2026-09-25
    days on market $139,000 Active 144 DOM
44. 2026-09-24
    days on market $139,000 Active 143 DOM
45. 2026-09-23
    days on market $139,000 Active 142 DOM
46. 2026-09-22
    days on market $139,000 Active 141 DOM
47. 2026-09-21
    days on market $139,000 Active 140 DOM
48. 2026-09-20
    days on market $139,000 Active 139 DOM
49. 2026-09-19
    days on market $139,000 Active 138 DOM
50. 2026-09-18
    days on market $139,000 Active 137 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,204
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$4,044
• Taxable income: $682
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $2,691/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.

Condition & rehab AI · 1 photo

Excellent 100/100 None rehab

This newly constructed townhome is in excellent condition with no visible repairs or maintenance needed. It is ideal for first-time buyers seeking a modern and affordable path to homeownership.

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Van Corlaer Elementary School F NY #1,846/2,108 Nat'l #30,133/41,679 Middle Mont Pleasant Middle School F NY #704/729 Nat'l #12,693/14,009 High Schenectady High School A NY #446/1,100 Nat'l #889/17,239

Schools (NCES district)

• District: Schenectady City School District
• NCES district ID: 3626010
• Math proficiency: 38% ▲ 12.00%
• Reading proficiency: 34% ▲ 2.00%
• Median HH income: $39,453
• Composite: 30.2/100
• National rank: #6309
• State rank: #556 of 590 in NY

B Composite livability gradescore 78/100

Livability — Schenectady

• Score: 78/100
• State rank: #167
• US rank: #2597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schenectady, NY
• County: Schenectady · 155,046 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 7,977
• Household income: $33,191
• Rent vs Own: 72.9% rent · 27.1% own
• Severe rent burden: 26% of renters

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Population outlook (Schenectady County) Hauer SSP2

• Today (2025): 155,046 people
• By 2030: 154,322 · -0.5%
• By 2040: 151,796 · -2.1%
• By 2050: 148,621 · -4.1%
• By 2075: 141,229 · -8.9%
• By 2100: 126,014 · -18.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.81)
• Race & ethnicity: Black 28% Hispanic / Latino 25% White 19% Two or more races 16% Asian 11% Native American 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14% Dominican 3%
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 1%

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Political lean MEDSL · Schenectady

• 2024 margin: D (+10.8) · D 55.4% · R 44.6%
• 2008→2024 swing: -1.8pp toward R · 2008: 12.7pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+15.7 2016: D+5.8 2012: D+15.4 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.60%
• Current HPI: 398.0252
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• Other: Lot size about 0.09 acre

Exterior

• Parking: Two off-street paved driveway parking spaces
• Security: Carbon monoxide detectorsFire alarm
• Utilities: Public waterPublic sewerCable available
• Home design: TownhouseNew constructionEntry level: First floor
• Construction: Shingle roofVinyl siding with drywall interiorConcrete perimeter foundation; slab; permanent foundationBuilt recently (new construction)
• Exterior features: Paved driveDrive-PavedLandscaped and cleared lot

Interior

• Kitchen: RangeDishwasherInstant hot waterRange hoodENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second level
• Flooring: CarpetLinoleum
• Bathrooms: One full bathroom (second level)One half bathroom (first level)
• Heating & cooling: Heat pump and electric heatingDuctless heating and cooling
• Interior features: High-speed internetRadon mitigation systemInstant hot waterTankless water heaterRange hoodENERGY STAR qualified appliancesLow emissivity windows with screens and blindsEgress window
• Laundry & utility: Washer hookupElectric dryer hookupLaundry closet on upper level

Price history

+321.2% since first listed

6 events — show timeline

• 2026-05-04 Listed $139,000 Global MLS
• 2006-05-03 Sold (Public Records) $75,000 Public Records
• 2004-11-17 Sold (Public Records) $54,000 Public Records
• 2003-04-29 Sold (Public Records) $24,000 Public Records
• 2003-04-29 Sold (Public Records) $24,000 Public Records
• 1995-07-10 Sold (Public Records) $33,000 Public Records