367 Washington Ave · Albany, NY 12206

$110,000

2 bd · 1.0 ba · 2,566 sqft · SingleFamily public records · 12 Days on market

Built 1857 1,306 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare single family home in the heart of Albany. 2 story 1 full bath, 1/2 bath. French doors lead to backyard, Garage. Home needs work. Cash offers only. Property is being sold as is. Seller makes no representations or warranties as to condition.

Key facts

• French doors
• Backyard
• 1,306 sq ft lot

Tags

• FRENCH DOORS
• BACKYARD

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: 150 Amp electrical service; Public water; Public sewer
• Home design: Single-family residence; Fixer condition
• Construction: Vinyl siding; Stone foundation; Built with flat rubber roofing
• Exterior features: Flat rubber roof; 25 x 58 lot dimensions; Main road frontage of 25 feet

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three bedrooms on the second floor; Additional living space on the second floor
• Flooring: Vinyl; Carpet; Hardwood
• Bathrooms: One full bathroom on the second floor; One half bathroom on the first floor
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: 6 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 12.1% 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: Sheridan Preparatory Academy (math 17% / reading 27%, grade F, #1,923 of 2,108 statewide, top 92%, 287 students, 90% FRL); Albany High School (math 74% / reading 67%, grade B+, #710 of 1,100 statewide, top 65%, 2,676 students, 69% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 89 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $2,026/mo this rent would consume 59% of the median local household income ($42k/yr) (locally 2035% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1857 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1857 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.84% ✓
• Cap rate: 12.09%
• Cash-on-cash: 20.69%
• DSCR: 1.92
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $420,824
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
78A Willett St	0.47mi	2/2.5	2,570 (+0%)	2mo	$550,000	$214	70
133 Jay St	0.67mi	2/2.0	2,820 (+10%)	2mo	$450,000	$160	46
47 Dove St	0.55mi	3/2.0 (+1)	2,307 (-10%)	24mo	$499,000	$216	29
257 Quail St	0.52mi	2/2.5	2,208 (-14%)	23mo	$200,000	$91	27
105 S Lake Ave	0.51mi	3/2.5 (+1)	2,200 (-14%)	20mo	$360,000	$164	24

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.69×
• Total profit: $21,166
• Equity at exit: $16,401

10-year hold

• IRR: 27.1%
• Equity multiple: 3.73×
• Total profit: $84,185
• Equity at exit: $9,511

Cash invested: $30,800 (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 12206

• Home prices YoY: -9.9%
• Rents YoY: 5.4%
• Active inventory: 89
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$577
• Tax from tax record: −$447 /mo · $5,362/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $531

Break-even live

Break-even rent $1,354

Max offer price $110,000

Occupancy floor 69%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Spring St Albany, NY	3.0	1.0	2500	$1,695	$0.68	43d	1	0.47mi
41 Dove St Albany, NY	2.0	2.5	2400	$2,350	$0.98	14d	1	0.51mi
363 Ontario St Albany, NY	1.0–2.0	1.0–2.5	1610	$3,485	$2.16	14d	1	0.86mi
15 Ten Broeck St Albany, NY	2.0	1.5	1900	$1,750	$0.92	21d	1	0.97mi
48 N Pearl St Albany, NY	2.0	1.0–2.5	1251	$3,500	$2.80	14d	17	1.04mi
32 Peyster St Unit 1st floor Albany, NY	3.0	2.0	2714	$2,500	$0.92	43d	1	1.14mi
135 Winthrop Ave Albany, NY	3.0	2.0	1788	$3,500	$1.96	43d	1	1.49mi

Listing history 7 events

1. 2026-06-15
   statusdays on market $110,000 Pending 12 DOM
2. 2026-06-14
   days on market $110,000 Active 11 DOM
3. 2026-06-10
   days on market $110,000 Active 8 DOM
4. 2026-06-08
   days on market $110,000 Active 6 DOM
5. 2026-06-07
   days on market $110,000 Active 5 DOM
6. 2026-06-03
   remarks 245-char remark
7. 2026-06-03
   listed $110,000 Active 1 DOM

ⓘ 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: $5,362 · $447/mo
• Projected year-2 tax: $5,362 · $447/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $24,312
• − Mortgage interest: −$6,162
• − Property taxes: −$5,362
• − Insurance: −$550
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$3,200
• Taxable income: $5,149
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $5,137/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): 14,572
• Household income: $41,548
• Rent vs Own: 73.4% rent · 26.6% own
• Severe rent burden: 2035.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 38% White 27% Hispanic / Latino 15% Two or more races 12% Asian 10%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 22% · Canada, China
• Languages at home: 75% English-only · Spanish 10% Other Indo-European 5% Chinese 3%

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: ▼ -30.24%
• Current HPI: 275.8109
• Rent YoY: ▲ 5.37%
• 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

1 event — show timeline

• 2026-06-02 Listed $110,000 Global MLS

Property tax history

+26.9%/yr

Latest (2025): $5,362 · -3.3% YoY. Source: county tax records.