548 Summit Ave · Schenectady, NY 12307

$139,000

2 bd · 1.5 ba · 1,200 sqft · Land · 45 Days on market

Built 2026 Excellent condition 3,920 sqft lot $116/sqft · 12% below area Est $158k · 12% 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 +22.3/30.0
• ARV discount +12.8/15.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Condition / age +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0

Listing remarks

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 45 days

Property features AI

Finance

• Other: Lot size about 0.09 acre

Exterior

• Parking: Two off-street paved driveway parking spaces
• Security: Carbon monoxide detectors; Fire alarm
• Utilities: Public water; Public sewer; Cable available
• Home design: Townhouse; New construction; Entry level: First floor
• Construction: Shingle roof; Vinyl siding with drywall interior; Concrete perimeter foundation; slab; permanent foundation; Built recently (new construction)
• Exterior features: Paved drive; Drive-Paved; Landscaped and cleared lot

Interior

• Kitchen: Range; Dishwasher; Instant hot water; Range hood; ENERGY STAR qualified appliances
• Bedrooms: Two bedrooms on the second level
• Flooring: Carpet; Linoleum
• Bathrooms: One full bathroom (second level); One half bathroom (first level)
• Heating & cooling: Heat pump and electric heating; Ductless heating and cooling
• Interior features: High-speed internet; Radon mitigation system; Instant hot water; Tankless water heater; Range hood; ENERGY STAR qualified appliances; Low emissivity windows with screens and blinds; Egress window
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on upper level

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 $229 ($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: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.3% 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: Schenectady High School (math 75% / reading 90%, grade A, #446 of 1,100 statewide, top 41%, 2,743 students, 71% FRL).
• Zoned-school proficiency averages 82% at this address vs 36% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Schenectady City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 33 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).

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 45 days — a 3% lower offer ($135k) 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 $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $157,547
• List price: $139,000
• Delta: -11.77%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 3.32×
• Total profit: $90,312
• Equity at exit: $125,222

10-year hold

• IRR: 25.5%
• Equity multiple: 7.54×
• Total profit: $254,530
• 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: 33
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $229

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 80%

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
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 Delamont Ave Schenectady, NY	3.0	1.0	1192	$1,600	$1.34	23d	1	0.41mi
192 Erie Blvd Apt 502 Schenectady, NY	1.0	1.0	915	$1,495	$1.63	14d	1	0.51mi
192 Erie Blvd Unit 508 Schenectady, NY	1.0	1.0	932	$1,715	$1.84	44d	1	0.51mi
192 Erie Blvd Apt 607 Schenectady, NY	1.0	1.0	884	$1,495	$1.69	44d	1	0.51mi
192 Erie Blvd Apt 706 Schenectady, NY	1.0	1.0	889	$1,600	$1.80	23d	1	0.51mi
192 Erie Blvd Apt 401 Schenectady, NY	1.0	1.0	819	$1,595	$1.95	44d	1	0.51mi
192 Erie Blvd Schenectady, NY	1.0	1.0	895	$1,595	$1.78	21d	1	0.51mi
409 State St Schenectady, NY	2.0	1.0	1000	$1,200	$1.20	19d	1	0.56mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$867	$0.84	14d	9	0.57mi
225 State St Schenectady, NY	1.0	1.0	850	$1,325	$1.56	14d	4	0.62mi
13 State St Schenectady, NY	1.0–2.0	1.0	923	$1,768	$1.92	14d	1	0.68mi
1120 Pleasant St Schenectady, NY	3.0	1.0	1000	$1,500	$1.50	14d	1	0.71mi
922 State St Schenectady, NY	1.0–2.0	1.0	855	$1,390	$1.63	14d	6	0.71mi
1130 Pleasant St Schenectady, NY	2.0	1.0	1069	$1,300	$1.22	44d	1	0.72mi
126 Prospect St Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	23d	1	0.86mi
23 Hawk St Schenectady, NY	2.0	1.0	920	$1,500	$1.63	19d	1	0.89mi
762 Eastern Ave Schenectady, NY	2.0	1.0	1119	$1,400	$1.25	23d	1	0.93mi
418 Third St Schenectady, NY	3.0	1.0	1000	$2,200	$2.20	14d	1	0.94mi
126 N College St #2 Schenectady, NY	1.0	1.0	780	$1,325	$1.70	14d	1	0.94mi
1826 Campbell Ave Schenectady, NY	3.0	1.0	1000	$1,600	$1.60	14d	1	0.96mi
1121 10th Ave Schenectady, NY	2.0	1.0	800	$1,250	$1.56	23d	1	0.96mi
23 Monroe St Unit 23 2R Schenectady, NY	2.0	1.0	800	$1,325	$1.66	14d	1	1.03mi
2007 Campbell Ave Schenectady, NY	3.0	1.0	1272	$1,600	$1.26	14d	1	1.06mi
304 Front St Fl Left Schenectady, NY	1.0	1.0	750	$1,550	$2.07	14d	1	1.08mi
1037 University Pl Unit 2 Schenectady, NY	3.0	1.0	1200	$1,600	$1.33	44d	1	1.13mi
2030 Euclid Ave Schenectady, NY	3.0	1.0	1300	$2,000	$1.54	19d	1	1.14mi
1093 Park Ave Schenectady, NY	1.0	1.0	900	$1,200	$1.33	14d	1	1.26mi
830 Plymouth Ave Schenectady, NY	2.0	1.0	1200	$1,700	$1.42	19d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $139,000 Active 45 DOM
2. 2026-06-17
   days on market $139,000 Active 44 DOM
3. 2026-06-16
   days on market $139,000 Active 43 DOM
4. 2026-06-15
   days on market $139,000 Active 42 DOM
5. 2026-06-14
   days on market $139,000 Active 40 DOM
6. 2026-06-13
   days on market $139,000 Active 39 DOM
7. 2026-06-10
   days on market $139,000 Active 37 DOM
8. 2026-06-09
   days on market $139,000 Active 36 DOM
9. 2026-06-08
   days on market $139,000 Active 35 DOM
10. 2026-06-07
    days on market $139,000 Active 34 DOM
11. 2026-06-03
    days on market $139,000 Active 30 DOM
12. 2026-06-02
    days on market $139,000 Active 29 DOM
13. 2026-06-01
    days on market $139,000 Active 28 DOM
14. 2026-05-31
    days on market $139,000 Active 27 DOM
15. 2026-05-31
    days on market $139,000 Active 26 DOM
16. 2026-05-04
    listed $139,000 Active 617-char remark
17. 2006-05-03
    soldstatus $75,000
18. 2004-11-17
    soldstatus $54,000
19. 2003-04-29
    soldstatus $24,000
20. 2003-04-29
    soldstatus $24,000
21. 1995-07-10
    soldstatus $33,000

ⓘ 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: $18,070
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$4,044
• Taxable income: $569
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $2,612/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.

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

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
• City population: 141,369
• Population (ZIP): 7,977

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%

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%
• Common ancestry: Lithuanian 3% Ukrainian 3% Romanian 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 79% English-only · Spanish 12% Arabic 2% Other Asian/Pacific 1%

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

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

+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