1620 Foster Ave · Schenectady, NY 12308

$249,000

4 bd · 2.0 ba · 1,848 sqft · MultiFamily public records · 1 Days on market

Built 1934 4,791 sqft lot $135/sqft · 20% below area Est $390k · 36% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Multi offer Deadline Highest & best due 3/10 @ 12pm Excellent 2 Family home close to Union College and parks, Great for owner occupied or investment. 1st floor has 2 bedrooms, 1 bath, living room, dining and kitchen & laundry area, 2nd floor has 3 rooms + Bonus room in attic. Lots of off street parking. This is a must see! Excellent Condition

Key facts

• Off street parking
• 4,791 sq ft lot
• 2 garage spots

Tags

• PARTIALLY FINISHED ATTIC
• OFF STREET PARKING

Property features AI

Finance

• Other: Property contains 2 total units (multifamily)
• Financial info: (Financial details and taxes excluded per instructions)
• HOA & community: (No HOA or community details provided)

Exterior

• Parking: Detached parking; Paved areas for parking; 2 garage spaces; Total of up to 5 parking spaces
• Security: (No security features provided)
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area listed as 2,300; Lot about 0.11 acre
• Construction: Vinyl siding
• Exterior features: Other exterior features (not specified)

Interior

• Kitchen: (No specific kitchen appliance details provided)
• Bedrooms: Two units each with 3 bedrooms (one unit bedroom level not specified); Unit 1: 3 bedrooms; Unit 2: 3 bedrooms
• Flooring: (No flooring information provided)
• Bathrooms: Two full bathrooms total; One full bathroom on the 1st level; One full bathroom on the 2nd level; Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Has heating; Baseboard heating; Hot water heating; Natural gas heating
• Interior features: Full basement
• Laundry & utility: (No laundry or utility room/appliance details provided)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive. Per door: $286/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Cap rate 9.0% 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: 78 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Schenectady County in 2024 (54 in 5+ unit buildings).
• At $2,923/mo this rent would consume 55% of the median local household income ($63k/yr) (locally 1016% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Schenectady County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 18y 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 $100k; list at $249k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $389,779
• List price: $249,000
• Delta: -36.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Lang St	0.12mi	4/2.0	1,692 (-8%)	6mo	$201,100	$119	76
1720 Foster Ave	0.16mi	5/2.0 (+1)	1,888 (+2%)	12mo	$190,000	$101	74
555 Florence St	0.46mi	4/2.0	1,824 (-1%)	11mo	$230,000	$126	67
444 Manhattan St	0.34mi	4/2.0	1,872 (+1%)	18mo	$265,000	$142	67
1524 Devine St	0.15mi	4/2.0	1,728 (-6%)	22mo	$165,000	$95	64
206 Front St	0.70mi	4/2.0	1,880 (+2%)	2mo	$299,000	$159	62
526 Clarendon St	0.32mi	4/2.0	1,728 (-6%)	18mo	$145,000	$84	59
321 Front St	0.55mi	4/2.0	1,744 (-6%)	15mo	$220,000	$126	52
1039 Wendell Ave	0.70mi	4/2.0	1,984 (+7%)	4mo	$220,000	$111	52
1841 Avenue A	0.42mi	4/2.0	1,644 (-11%)	17mo	$230,000	$140	48
515 South Ave	0.58mi	5/3.0 (+1)	2,070 (+12%)	6mo	$172,000	$83	39
11 John St	0.68mi	5/2.0 (+1)	1,992 (+8%)	20mo	$215,000	$108	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-3,922
• Equity at exit: $37,127

10-year hold

• IRR: 8.2%
• Equity multiple: 1.63×
• Total profit: $43,642
• Equity at exit: $21,529

Cash invested: $69,720 (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 12308

• Home prices YoY: -14.6%
• Active inventory: 78
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,923 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$329 /mo · $3,943/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $571

Break-even live

Break-even rent $2,200

Max offer price $249,000

Occupancy floor 75%

Sensitivity live

Price	-10% $712	-5% $642	+0% $571	+5% $501	+10% $430
Rent	-10% $340	-5% $456	+0% $571	+5% $687	+10% $802
Rate	-1.0pp $696	-0.5pp $634	base $571	+0.5pp $507	+1.0pp $441

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,924
Total (2 units)			$2,923

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1673 Van Vranken Ave Schenectady, NY	3.0	1.0	1335	$1,750	$1.31	44d	1	0.17mi
509 Nott St Unit 507 Schenectady, NY	4.0	1.0	1400	$1,695	$1.21	44d	1	0.19mi
1687 Avenue A Schenectady, NY	4.0	1.0	1672	$2,300	$1.38	44d	1	0.25mi
901 Nott St Unit 1R Schenectady, NY	3.0	1.0	1500	$1,250	$0.83	24d	1	0.29mi
1747 Oneida St Schenectady, NY	4.0	2.0	1620	$2,700	$1.67	14d	1	0.80mi
100 Reserve Ct Schenectady, NY	1.0–3.0	1.0–2.0	1106	$2,445	$2.21	14d	1	0.87mi
1347 Union St Schenectady, NY	4.0	1.5	2188	$3,750	$1.71	44d	1	1.09mi
117 Washington Ave Schenectady, NY	2.0–4.0	1.0–2.0	1033	$2,163	$2.09	14d	9	1.23mi
2011 Ridge Manor Ct Niskayuna, NY	3.0	2.5	1440	$2,300	$1.60	44d	1	1.29mi

Listing history 29 events

1. 2026-06-18
   statusdays on marketlisting id $249,000 Active 1 DOM
2. 2026-05-04
   historical
3. 2026-04-29
   listed $249,000 Active
4. 2019-06-14
   soldstatus $100,000
5. 2019-06-06
   soldstatus $100,000 Closed (Final Sale) 352-char remark

   Show marketing remark (352 chars)

   Multi offer Deadline Highest & best due 3/10 @ 12pm Excellent 2 Family home close to Union College and parks, Great for owner occupied or investment. 1st floor has 2 bedrooms, 1 bath, living room, dining and kitchen & laundry area, 2nd floor has 3 rooms + Bonus room in attic. Lots of off street parking. This is a must see! Excellent Condition

6. 2019-03-15
   status Pend (Under Cntr) 352-char remark

   Show marketing remark (352 chars)

   Multi offer Deadline Highest & best due 3/10 @ 12pm Excellent 2 Family home close to Union College and parks, Great for owner occupied or investment. 1st floor has 2 bedrooms, 1 bath, living room, dining and kitchen & laundry area, 2nd floor has 3 rooms + Bonus room in attic. Lots of off street parking. This is a must see! Excellent Condition

7. 2019-03-04
   listed $94,500 New 352-char remark

   Show marketing remark (352 chars)

   Multi offer Deadline Highest & best due 3/10 @ 12pm Excellent 2 Family home close to Union College and parks, Great for owner occupied or investment. 1st floor has 2 bedrooms, 1 bath, living room, dining and kitchen & laundry area, 2nd floor has 3 rooms + Bonus room in attic. Lots of off street parking. This is a must see! Excellent Condition

8. 2019-03-01
   historical
9. 2018-09-20
   status Pend (Under Cntr)
10. 2018-08-23
    status Back On Market
11. 2018-08-06
    status Pend (Under Cntr)
12. 2018-07-26
    listed $94,500 New
13. 2016-04-20
    soldstatus $34,500
14. 2016-03-31
    soldstatus $34,500 Closed (Final Sale)
15. 2016-02-09
    status Pend (Under Cntr)
16. 2016-01-16
    price $39,900
17. 2015-11-08
    listed $43,000 Active
18. 2015-06-16
    historical
19. 2015-04-14
    listed $43,000
20. 2013-12-31
    soldstatus $27,300
21. 2013-11-01
    listed $29,900
22. 2012-11-26
    historical
23. 2010-01-01
    historical
24. 2009-06-17
    listed $74,900
25. 2009-03-28
    historical
26. 2008-09-27
    listed $74,900
27. 2008-09-19
    historical
28. 2008-03-19
    listed $89,900
29. 1997-12-29
    soldstatus $45,000

ⓘ 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: $3,943 · $329/mo
• Projected year-2 tax: $4,075 · $340/mo
• Expected delta: +$133/yr (+$11/mo · 3.4%)

ⓘ 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 ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $35,076
• − Mortgage interest: −$13,948
• − Property taxes: −$3,943
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,806
• − Management: −$2,806
• − Depreciation: −$7,244
• Taxable income: $3,085
• Est. tax owed @ 24.0%: −$740
• After-tax cash flow: $6,113/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: 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
• County: Schenectady County · 141,369 people
• City population: 141,369
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 15,511
• Household income: $63,434
• Rent vs Own: 55.0% rent · 45.0% own
• Severe rent burden: 1016.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Black 17% Hispanic / Latino 13% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 10% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -59.17%
• Current HPI: 344.8675
• Rent YoY: —
• 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

+453.3% since first listed

29 events — show timeline

• 2026-06-18 Listed $249,000 Global MLS
• 2026-05-04 Listing Removed — Global MLS
• 2026-04-29 Listed $249,000 Global MLS
• 2019-06-14 Sold (Public Records) $100,000 Public Records
• 2019-06-06 Sold (MLS) $100,000 Global MLS
• 2019-03-15 Pending — Global MLS
• 2019-03-04 Listed $94,500 Global MLS
• 2019-03-01 Listing Removed — Global MLS
• 2018-09-20 Pending — Global MLS
• 2018-08-23 Relisted — Global MLS
• 2018-08-06 Pending — Global MLS
• 2018-07-26 Listed $94,500 Global MLS
• 2016-04-20 Sold (Public Records) $34,500 Public Records
• 2016-03-31 Sold (MLS) $34,500 Global MLS
• 2016-02-09 Pending — Global MLS
• 2016-01-16 Price Changed $39,900 Global MLS
• 2015-11-08 Listed $43,000 Global MLS
• 2015-06-16 Listing Removed — Global MLS
• 2015-04-14 Listed $43,000 Global MLS
• 2013-12-31 Sold (MLS) $27,300 Global MLS
• 2013-11-01 Listed $29,900 Global MLS
• 2012-11-26 Listing Removed — Global MLS
• 2010-01-01 Listing Removed — Global MLS
• 2009-06-17 Listed $74,900 Global MLS
• 2009-03-28 Listing Removed — Global MLS
• 2008-09-27 Listed $74,900 Global MLS
• 2008-09-19 Listing Removed — Global MLS
• 2008-03-19 Listed $89,900 Global MLS
• 1997-12-29 Sold (Public Records) $45,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $3,943 · +4.8% YoY. Source: county tax records.